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Advocacy Update | 02.05.25

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Read this week’s latest advocacy updates to stay informed about policies affecting our local communities. Here are some deadlines to keep in mind as the session moves forward. One Southern Indiana Chamber of Commerce continues to watch for bills that impact our current businesses and communities according to our 2025 advocacy agenda. Read below for more information about the bills and keep a look out for more updates. 

  • Thursday, February 20, 2025: Last day for third reading of House bills in House. 
  • Thursday, February 20, 2025: Latest day session must reconvene (IC 2-2.1-1-2) 

Join 1si February 20th for our 5 O’clock network where you will meet with local elected officials, discuss the matters you and your business find important, and learn how you can advocate for the benefit of our region. You can register here. 

Current List of Bills 1si Supports: 

HB-1172: Office of entrepreneurship and innovation 

  • Status: 
  • 1/30/2025-Amended, reported—Do pass. Referred to Committee on Ways and Means pursuant to Rule 126.3. 

Current List of Bills 1si is Monitoring: 

Senate Bills: 

SB-1: Property Tax Relief 

  • Status: 
  • 1/14/2025- Read first time and referred to Committee on Tax and Fiscal Policy 
  • Explanation: 
  • We are closely monitoring this bill because the changes to residential and personal taxes will significantly impact infrastructure, municipal funding, and workforce education. Based on the reports from the Association of Indiana Counties, you can see the impact of SB-1 here. Please contact your local elected official to learn about the potential impacts of this bill. At this time, 1si is working with local elected officials to learn more about the bill to keep our business community informed. 

SB-20: Economic development and foreign trade 

  • Status: 
  • 1/8/2025- Referred to Senate Homeland Security and Transportation 

SB-93: Common Construction wage 

  • Status: 
  • 1/8/2025- Read first time and referred to committee on Pensions and Labor 

SB-212: Natural Gas and Electric Utility Infrastructure 

  • Status: 
  • 1/8/2025- Read first time and referred to Committee on Utilities 

SB-251: Indiana Economic Development Corporation 

  • Status: 
  • 1/13/2025- First reading and referred to Committee on Commerce and Technology 

SB-305: Rural communities 

  • Status: 
  • 1/13/2025- First reading and referred to Committee on Agriculture 

SB-314: Pass through entity tax 

  • Status: 
  • 1/28/2025- Senate Tax and Fiscal Policy, bill scheduled for hearing 
  • 1/13/2025- First reading and referred to Committee on Tax and Fiscal Policy 

SB-347: Indiana Economic Development Corporation 

  • Status: 
  • 1/13/2025- Referred to Senate Tax and Fiscal Policy 

SB-377: Funding for regional economic development 

  • Status: 
  • 1/23/2025- Senate Appropriations, bill scheduled for hearing 
  • 1/13/2025- First reading referred to Committee on Appropriations 

SB-423: Small modular nuclear reactor pilot program 

  • Status: 
  • 1/30/2025- Second reading: ordered engrossed 
  • 1/27/2025- Committee report: amend do pass, adopted 
  • 1/23/2025- Senate Committee recommends passage, as amended Yeas: 10; Nays:1 
  • 1/23/2025- Senate Utilities, bill scheduled for hearing 
  • 1/13/2025- First reading and referred to Committee on Utilities 

SB-426: Water utility infrastructure 

  • Status: 
  • 1/13/2025- First reading and referred to Committee on Utilities 

SB-443: Business personal property tax 

  • Status: 
  • 1/28/2025- Reported favorably—Do Pass. 
  • 1/13/2025- Read first time and referred to Committee on Tax and Fiscal Policy 

SB-463: Child Care Matters 

  • Status: 
  • 1/29/2025- Reported favorably—Do pass; reassigned to Committee on Appropriations 

SB-488: Skills training pilot program 

  • Status: 
  • 1/29/2025- Reported favorably—Do pass; reassigned to Committee on Appropriations 
House Bills 

HB-1021: Training in human trafficking 

  • Status: 
  • 1/8/2025- Read first time and referred to Committee on Courts and Criminal Code 

HB-1151: Advanced practice registered nurses 

  • Status: 
  • 1/8/2025- Read first time and referred to Committee on Public Health 

HB-1154: Behavioral health preceptorship tax credit 

  • Status: 
  • 1/8/2025- Referred to Committee on Ways and Means 

HB-1180: Mental health care for veterans with PTSD 

  • Status: 
  • 1/8/2025- Read first time and referred to Committee on Veterans Affairs and Public Safety 

HB-1214: Worker’s compensation 

  • Status: 
  • 1/30/2025- Reported—Do pass. 
  • 1/8/2025- Read first time and referred to Committee on Employment, Labor and Pensions 

HB-1223: Tourism development projects 

  • Status: 
  • 1/23/2025- House Government and Regulatory Reform, bill scheduled for hearing 
  • 1/9/2025- Referred to House Government and Regulatory Reform 

HB-1226: Medicare supplement insurance 

  • Status: 
  • 1/9/2025- Read first time and referred to Committee on Insurance 

HB-1247: Prohibited food ingredients 

  • Status: 
  • 1/9/2025- Read first time and referred to Committee on Public Health 

HB-1248: Child Care and Development Fund 

  • Status: 
  • 1/29/2025- Amended, reported—Do pass. Referred to Committee on Ways and Means pursuant to Rule 126.3 

HB-1296: Artificial intelligence and policies 

  • Status: 
  • 1/13/2025- Read first time and referred to Committee on Education 

HB-1347: Real estate matters 

  • Status: 
  • 1/29/2025- Referred to the Senate 
  • 1/28/2025- Third reading: passed; Roll call 33: yeas 91, nays 1  
  • 1/27/2025- Second reading: order engrossed 
  • 1/21/2025- Committee report: amend do pass, adopted 
  • 1/13/2025- Read first time and referred to Committee on Financial Institutions 

 HB-1402: Local government finance 

  • Status: 
  • 1/13/2025- Referred to House Ways and Means 

HB-1408: Regional innovation development 

  • Status: 
  • 1/13/2025- Referred to House Ways and Means 

 

You can find a copy of the 1si 2024 Advocacy Agenda by visiting https://1si.org/advocacy/ or downloading a PDF copy here. 

Thanks for Renewing Your Membership | January 2025

Thank you to the following members that renewed their membership during the month of January 2025.

Quarter Century Club (25 Years or More)Member Since
DMLO CPAs & Advisors – New Albany1972
Greater Clark County Schools1980
AML Construction1986
Dennis Ott & Company, Inc.1990
Libs Paving Co., Inc.1990
New Albany Floyd County Schools1991
City of New Albany1992
WesBanco Bank, Inc. 1994
Mister ”P” Express, Inc.1996
Hurst & Associates, LLC1998
  
Ten to 24 Years 
Stephen C. Gault Co.2002
Padgett, Inc.2003
RE/MAX FIRST2004
LL&A Interior Design2005
Park Community Credit Union2006
R. H. Clarkson Insurance Group2007
Harding, Shymanski & Company, P.S.C.2008
Jack Coffman, Commissioner2008
Peyton’s Barricade & Sign Co.2008
Theresa J. Lamb Insurance Agency, Inc.2009
ATS Integrated Solutions, Inc.2013
C. W. Erecting, LLC2013
Community Montessori Charter Public School2013
Silver Heights Camp & Retreat Center2013
United Consulting2013
ERL, Inc.2014
World Trade Center Kentucky2014
  
Five to Nine Years 
Zaxby’s – Charlestown Rd.2016
Cunningham Campers, Inc.2017
King’s-Quality Restoration Services LLC2017
W.M. Kelley Company, Inc.2017
Louisville Sports Commission2018
S&ME, Inc.2018
The Floyd County Library2018
Excel Excavating, Incorporated2020
  
Two to Four Years 
BluMine Health, LLC2021
Lewen Line Construction2021
Louisville Kwik Dry Total Cleaning2022
Taziki’s Mediterranean Cafe Jeffersonville2022
Access Justice2023
Camp Quality Kentuckiana2023
CannaRaised2023
Floyd County Parks and Recreation2023
Harrison County Lifelong Learning2023
Kosair for Kids2023
Nesco Resource2023
Sukhino Float Center & Salt Cave2023
  
One Year 
Cambria Hotel Louisville Downtown Whiskey Row2024
Fellowship of Christian Athletes (FCA)2024
Livability Media dba Journal Communications, Inc.2024

Forty-six new community leaders selected for Bingham Fellows Class of 2025

Louisville, Kentucky (January 30, 2025) – From a very competitive pool of candidates, forty-six community leaders have been selected to participate in the Leadership Louisville Center’s Bingham Fellows Class of 2025. The topic for this year’s Bingham Fellows will be: A Place to Call Home: Innovative Workforce Housing Solutions, focused on Louisville’s housing crisis for the working class.

Every year, the Leadership Louisville Center seeks to address one of our community’s most pertinent issues through the Bingham Fellows program. This year’s Bingham Fellows will examine the complexities of these issues while engaging with community leaders, experts, and stakeholders to develop innovative solutions. The cohort will focus on a variety of factors including:

  • Financial incentives for developers
  • Innovative homeownership programs
  • Zoning regulations
  • Barriers to housing access
  • Advocacy and policy development

Members of the Bingham Fellows Class of 2025 are:

  • Francisco Alzuru, Founder Manager | Bluegrass Multifamily
  • Jeff Ames, Corporate Banker | Republic Bank & Trust Company
  • Juva Barber, Executive Vice President | Building Industry Association of Greater Louisville
  • Cara Bland, Director for The Institute for Health Equity | Norton Healthcare
  • Philip Britt, Associate Vice President, Product Management | Humana
  • Carolyn Callahan, Chief of Communications and Community Relations | Jefferson County Public Schools
  • JD Carey, Executive Director | Apartment Association of Kentucky
  • Rowan Claypool, President | Teach Kentucky
  • Kristin Faurest, CEO and President | River Fields,
  • Brandon Fields, Owner | Twin Spires Remodeling
  • Kristy Flippins-Bartlett, Founder/CEO | Option to Success
  • Laura Grabowski, Director | Office of Housing and Community Development
  • Terra Greenwell, Chief Academic Officer | Jefferson County Public Schools
  • Michael Gross, Director, Development | LDG Development
  • Andrew Hawes, President & CEO | The Housing Partnership, Inc
  • Michael Holwerda, Senior Vice President | Fifth Third Bank
  • Clay Kannapell, Director of Global Logistics Brown Forman | Brown-Forman Corporation
  • Andrea Kinser, SVP, Originations | PNC Bank
  • Harrison Kirby, Director of Strategic Initiatives | Community Foundation of Louisville,
  • Barry Kornstein, Consultant
  • Rob Locke, Chief Executive Officer | Habitat for Humanity of Metro Louisville
  • Ra’Shann Martin, Executive Director | John Center
  • Councilwoman Paula McCraney, District 7 Councilwoman | Louisville Metro Council
  • Lena Muldoon, Principal | LSM Strategies, LLC
  • Joshua O’Bryan, Partner | Frost Brown Todd
  • Denise O’Donnell, Chief Financial Officer | Scope CFO
  • Jody Offutt, President of Property Management | Denton Floyd Real Estate Group
  • Liz Pratt, Director External & Internal Communications | LG&E and KU Energy
  • Sumedha Rao, Executive Director, Mayor’s Office of Sustainability | Louisville Metro Government
  • Tamara Reif, Senior Director of Housing Services | Volunteers of America Mid-States | VOA
  • Brittney Ridge, Chief of Action | Bennu Development
  • DeOndrea Robinson, Owner | Jump Start Realty and Development LLC
  • Jean Romano, Vice President | Seven Counties Services
  • Hunt Rounsavall, Owner | Rounsavall Title Group, LLC
  • Jon Salomon, Partner | Dentons Bingham Greenebaum LLP
  • Joseph Seiler, Senior Vice President | Limestone Bank (PBI Bank)
  • Michael Springer, Housing Program Manager | Blueprint502 formerly YouthBuild Louisville
  • Josh Staten, Senior Director – Business Development & Real Estate | River Ridge Development Authority
  • Curtis Stauffer, Managing Director-Housing Contract Administration | Kentucky Housing Corporation
  • Shalini Sutaria, Associate VP, Technology Solutions | Humana
  • Christine Tarquinio, VP of Marketing | Goodwill Industries of Kentucky
  • Clare Wallace, Executive Director | South Louisville Community Ministries
  • Clark Welch, Vice President of Economic Development | Greater Louisville
  • Eric Whitmore, Owner, Architect | Square One Collaborative
  • Adonna Wickliffe, CEO/Executive Director | Milestone Services
  • Josh Williams, Director of Strong Households | Metro United Way

About the Bingham Fellows program:

The Bingham Fellows program is the advanced leadership program of the Leadership Louisville Center. Created in 1988 through a $500,000 endowment from the Mary and Barry Bingham Sr. Fund, the Fellows are social entrepreneurs who have the imagination and talent needed to gather critical resources and create social change. Side by side with peers, participants work to develop dynamic and innovative solutions to our community’s most pressing challenges. The 2025 cohort is the 33rd class of Bingham Fellows, who have an impressive track record of providing community issues with visibility and momentum.

The Fellows don’t ponder what might be. They roll up their sleeves, shine a spotlight on an issue, and put new ideas to work. Their recent impact includes projects such as CitySpots, which is turning spaces into places to create a more vibrant downtown, and You Decide, Kentucky!, a statewide initiative working to empower local governments to decide what revenue streams will improve the quality of life in their communities. Some additional high-impact projects since program’s creation include the West Louisville community development organization OneWest, regular Café Louie conversations with elected officials at Louisville Free Public Library locations, a sustainable model for neighborhood ‘Little Free Libraries,’ and City Champs, a talent attraction and retention program now managed by Greater Louisville Inc. The impact of the Fellows goes back to the 1990s with the creation of The Housing Partnership, construction of the Presbyterian Community Center, growth of local farmers’ markets, and numerous other positive outcomes.

About the Leadership Louisville Center:

The Leadership Louisville Center is the region’s most valuable resource for leadership development and civic engagement. With a purpose to inspire and equip leaders to be better and do better, it has graduated over 15,000 through its programs since 1979. The Center is recognized as a national best practice and is known for its dynamic programming and strong community connections. Programming includes five social impact leadership programs (Leadership Louisville, Focus Louisville, Ignite Louisville, Bingham Fellows, and Encore Louisville), the Alice Houston Women’s Leadership Program, leadership skills training courses presented through partner brand LeadingBetter™, and events designed to connect leaders and motivate positive change. Learn more at www.leadershiplouisville.org.

# # #

Dr. Lisa Hoffman appointed IU Southeast Associate Vice Chancellor for Enrollment Services & School Partnerships

NEW Albany, Ind. (January 29, 2025) – Indiana University Southeast has appointed Dr. Lisa Hoffman as Associate Vice Chancellor for Enrollment Services & School Partnerships. Hoffman has served as interim associate vice chancellor for enrollment services at IU Southeast since September 2023.

Hoffman will be responsible for ensuring the success of Indiana University students from the time they are prospective applicants through to their graduation. Her role includes overseeing recruitment and admissions strategies, financial aid, and Student Central.

In addition, Hoffman will develop and execute a comprehensive strategic enrollment management plan for the campus, prioritizing student recruitment, retention, and graduation. She will also spearhead efforts to establish strategic partnerships with local K-12 school districts and regional colleges and universities. These partnerships aim to create pathways for students to secure preferred admission to undergraduate and graduate programs.

“I am excited to work with Dr. Hoffman to advance IU Southeast’s enrollment priorities as we progress toward our 2030 strategic plan goals promoting student success,” said Dr. Michelle Williams, Executive Vice Chancellor for Academic Affairs at IU Southeast. “During her interim role, Dr. Hoffman successfully negotiated several agreements with school partners, streamlining pathways for new students to join IU Southeast in programs aligned with their long-term career aspirations. In her new role, she will continue these vital efforts while launching initiatives that emphasize student-centered recruitment and retention. These efforts ensure that students not only enroll but also thrive in IU Southeast’s supportive environment, gaining the skills and competencies necessary for success.”

Previously, Hoffman served as Dean for Research and Graduate Studies at IU Southeast from 2021 to 2023 and as Director of Graduate Studies for the IU Southeast School of Education from 2018 to 2021. A member of the IU Southeast faculty since 2009, she has taught in the School of Education in both part-time and full-time capacities, specializing in educational research and the needs of multilingual students and families.

Hoffman holds a B.A. in International Relations from Samford University, an M.S. in Multilingual Education/TESOL from Florida State University, and a Ph.D. in International and Multicultural Education from Florida State University.

“I am proud to lead a team that is deeply dedicated to breaking down barriers for students, whether it’s by streamlining the enrollment process, broadening access to scholarships, or fostering meaningful partnerships with employers,” said Hoffman. “At IU Southeast, we pride ourselves on cultivating a welcoming and empowering environment where every student feels supported in achieving their goals. I’m honored to be part of a community that inspires growth and success, and I’m thrilled to help even more students uncover their passions and forge rewarding career pathways with us.”

Hoffman and her family reside in Oldham County, Kentucky.

###

About IU SoutheastIU Southeast is one of nine campuses of Indiana University. Offering top-quality and nationally accredited programs in education, nursing, business, social sciences, natural sciences, arts and humanities, the scenic 180-acre campus is located less than 15 minutes from downtown Louisville, Kentucky. It currently has over 3,750 students and employs over 360 faculty members. About 400 students live on campus in five fully furnished, lodge-style residence halls. Through an agreement with the Commonwealth of Kentucky, Indiana University Southeast offers in-state tuition to students enrolled from eight counties in the Louisville region. For more information, visit https://southeast.iu.edu. IU Southeast is a tobacco-free campus.

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Advocacy Update | 01.29.25

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It is the fourth week of the Indiana General Assembly. Here are some deadlines to keep in mind as the session moves forward. One Southern Indiana Chamber of Commerce continues to watch for bills that impact our current businesses and communities according to our 2025 advocacy agenda. Read below for more information about the bills and keep a look out for more updates. 

  • Thursday, February 20, 2025: Last day for third reading of House bills in House. 
  • Thursday, February 20, 2025: Latest day session must reconvene (IC 2-2.1-1-2) 

Join 1si February 20th for our 5 O’Clock network where you will meet with local elected officials, discuss the matters you and your business find important, and learn how you can advocate for the benefit of our region. You can register here. 

Current List of Bills 1si Supports: 

HB-1172: Office of entrepreneurship and innovation 

  • Status: 
  • 1/29/2025-House Commerce, Small Business and Economic Development, bill scheduled for hearing 
  • 1/8/2025-Referred to House Commerce, Small Business and Economic Development 
  • Moved to “For” 

Current List of Bills 1si is Monitoring: 

Senate Bills: 

SB-1: Property Tax Relief 

  • Status: 
  • 1/14/2025- Read first time and referred to Committee on Tax and Fiscal Policy 
  • Explanation: 
  • We are closely monitoring this bill because the changes to residential and personal taxes will significantly impact infrastructure, municipal funding, and workforce education. Based on the reports from the Indiana Association of Indiana Counties, you can see the impact of SB-1 here. Please contact your local elected official to learn about the potential impacts of this bill. At this time, 1si is working with local elected officials to learn more about the bill to keep our business community informed. 

SB-20: Economic development and foreign trade 

  • Status: 
  • 1/8/2025- Referred to Senate Homeland Security and Transportation 

SB-93: Common Construction wage 

  • Status: 
  • 1/8/2025- Read first time and referred to committee on Pensions and Labor 

SB-212: Natural Gas and Electric Utility Infrastructure 

  • Status: 
  • 1/8/2025- Read first time and referred to Senate Utilities 

SB-251: Indiana economic development corporation 

  • Status: 
  • 1/13/2025- First reading and referred to Committee on Commerce and Technology 

SB-305: Rural communities 

  • Status: 
  • 1/13/2025- First reading and referred to Committee on Agriculture 

SB-314: Pass through entity tax 

  • Status: 
  • 1/28/2025- Senate Tax and Fiscal Policy, bill scheduled for hearing 
  • 1/21/2025- Senate Tx and Fiscal Policy, bill scheduled for hearing 
  • 1/13/2025- First reading and referred to Committee on Tax and Fiscal Policy 

SB-347: Indiana economic development corporation 

  • Status: 
  • 1/13/2025- Referred to Senate Tax and Fiscal Policy 

SB-377: Funding for regional economic development 

  • Status: 
  • 1/23/2025- Senate Appropriations, bill scheduled for hearing 
  • 1/16/2025- Senate Appropriations, bill scheduled for hearing 
  • 1/13/2025- First reading referred to Committee on Appropriations 

SB-423: Small modular nuclear reactor pilot program 

  • Status: 
  • 1/27/2025- Committee report: amend do pass, adopted 
  • 1/23/2025- Senate Committee recommends passage, as amended Yeas: 10; Nays: 1 
  • 1/23/2025- Senate Utilities, bill scheduled for hearing 
  • 1/13/2025- First reading and referred to Committee on Utilities 

SB-426: Water utility infrastructure 

  • Status: 
  • 1/13/2025- First reading and referred to Committee on Utilities 

SB-443: Business personal property tax 

  • Status: 
  • Senate Tax and Fiscal Policy, bill scheduled for hearing 
  • 1/13/2025- Referred to Senate Tax and Fiscal Policy 

SB-463: Child Care Matters 

  • Status: 
  • 1/29/2025- Senate Health and Provider Services and bill is scheduled for hearing 
  • 1/13/2025- Referred to Senate Health and Provider Services 

SB-488: Skills training pilot program 

  • Status: 
  • 1/23/2025- Pursuant to Senate Rule 68(b); reassigned to Committee on Pensions and Labor 
  • 1/13/2025- Read first time and referred to Committee on Education and Career Development 

House Bills 

HB-1021: Training in human trafficking 

  • Status: 
  • 1/8/2025- Read first time and referred to Committee on Courts and Criminal Code 

HB-1151: Advanced practice registered nurses 

  • Status: 
  • 1/8/2025- Read first time and referred to Committee on Public Health 

HB-1154: Behavioral health preceptorship tax credit 

  • Status: 
  • 1/8/2025- Referred to Committee on Ways and Means 

HB-1180: Mental health care for veterans with PTSD 

  • Status: 
  • 1/8/2025- Read first time and referred to Committee on Veterans Affairs and Public Safety 

HB-1214: Worker’s compensation 

  • Status: 
  • 1/8/2025- Read first time and referred to Committee on Employment, Labor and Pensions 

HB-1223: Tourism development projects 

  • Status: 
  • 1/23/2025- House Government and Regulatory Reform, bill scheduled for hearing 
  • 1/9/2025- Referred to House Government and Regulatory Reform 

HB-1226: Medicare supplement insurance 

  • Status: 
  • 1/9/2025- Read first time and referred to Committee on Insurance 

HB-1247: Prohibited food ingredients 

  • Status: 
  • 1/9/2025- Read first time and referred to Committee on Public Health 

HB-1248: Child Care and Development Fund 

  • Status: 
  • 1/22/2025- House Family, children and Human Affairs, bill scheduled for hearing 
  • 1/9/2025- Referred to House Family, Children and Human Affairs 

HB-1296: Artificial intelligence and policies 

  • Status: 
  • 1/13/2025- Read first time and referred to Committee on Education 

HB-1347: Real estate matters 

  • Status: 
  • 1/27/2025- Second reading: order engrossed 
  • 1/21/2025- Committee report: amend do pass, adopted 
  • 1/13/2025- Read first time and referred to Committee on Financial Institutions 

HB-1402: Local government finance 

  • Status: 
  • 1/13/2025- Referred to House Ways and Means 

HB-1408: Regional innovation development 

  • Status: 
  • 1/13/2025- Referred to House Ways and Means 

You can find a copy of the 1si 2025 Advocacy Agenda by visiting https://1si.org/advocacy/ or downloading a PDF copy here. 

Economic Update | Consumer Spending and Small Business Optimism

submitted by
Uric Dufrene, Ph.D., Sanders Chair in Business, Indiana University Southeast

The Atlanta Federal Reserve maintains the GDPNow tracker, a tool that provides a running estimate of upcoming GDP. As data are released throughout the period, GDPNow changes to reflect the release of the most recent data.  The tool is useful as it provides an ongoing estimate of GDP, and an early snapshot of the economic picture of the economy. The latest GDPNow is indicating that 2024 4th quarter GDP is at 3%, just about at the long-run quarterly average of GDP growth.      

For the first 3 quarters of 2024, the consumer was the main driver of economic growth, responsible for about 75% of the percent change in quarterly growth. This strong consumer spending occurred during a period when consumer sentiment was quite weak, brought about by prices that were about 20% higher than the start of the pandemic. Higher rates of interest made housing more expensive, in addition to the financing of consumer durables. Despite these consumer headwinds, spending continued and drove a good bit of economic growth from last year. We’ll offer a possible explanation.   

There are two primary factors that help explain the robustness of the consumer:   the labor market, and household balance sheets.  First, consumers remain confident about the labor market.  The Conference Board Consumer Confidence measure reflects consumer views of the labor market and has been running quite strongly, compared to the Michigan survey of consumer sentiment. While the nation’s unemployment is higher than a year ago, rates are still at historically low levels. Monthly job creation continues to forge ahead, with last month’s number surprising analysts to the upside.  Job openings, which have declined from a post-pandemic high of 11.7 million, continue to exceed the number of unemployed. Since August 2024, job openings have increased by approximately 1,000,000.  

While the labor market continues to run strong, there are increasing challenges to employment seekers. Hires have declined from a post-pandemic high of 6.8 million down to 5.2 million. And job quits, which can be viewed as another confidence measure, have declined from a post-pandemic high of 4.5 million down to 3 million.  Employees are less confident in finding employment, and hence job quits are lower. While hires and quits have declined, the labor market remains tight.  The hires-to-openings ratio, a measure of labor market conditions, remains under 1, indicating labor market tightness. To be sure, there are more labor market challenges today than a year ago, but tightness remains, and consumers maintain overall confidence, helping feed consumer spending. 

The second reason for sustained consumer spending is the household balance sheet. Assets are equal to liabilities plus equity, and equity represents the net worth of the household.   We can view net worth as a summary measure that captures the impact of consumer assets and liabilities.    Equity, or household net worth, is the highest on record.  During Covid, net worth declined by almost 7%, as equity markets plummeted, but quickly bounced back. Since that time, household net worth has increased by a staggering 52%. This is not universal across all households but at the economy-wide macro level. Stronger net worth across households, coupled with a strong labor market, have fueled consumer spending, and this is one of the reasons why consumer spending dominated GDP growth last year.   

Small Business Optimism, CPI, and the Supply Side 

The National Federation of Independent Businesses conducts a monthly survey of small business members, and a closely watched measure from this is the Small Business Optimism Index. Most of the job creation in the economy emanates from small business.  So, the optimism of small business owners could be viewed as an early signal of future business conditions. The most recent Optimism Index showed the largest monthly increase in the Index, at least going back to 1995. There was a similar surge after the 2016 election, but not as large as the most recent.  Small business owners are optimistic that the new administration will introduce policies that are supportive of small business formation and growth, such as a deregulatory environment, and tax policies favorable to small business.        

During the first Trump administration, the optimism trend of small business owners was largely positive until the first set of tariffs implemented in early 2018.  Tariffs were first implemented in early 2018, but the second round of tariffs on $16 billion of Chinese goods came in late August. Small business optimism peaked around August of 2018, and then plummeted. There was a collapse of optimism during the Covid pandemic, and then the trend was largely negative during the Biden administration,  attributed to the 40-year high inflation that followed supply shocks and government stimulated demand. In fact, in response to the question of “the single most important problem” of small business owners, inflation received the highest recorded response since 1995, in mid-2022, the height of inflation. The most recent surge in the optimism index is the highest level since 2018, and its sustainability depends on fulfillment of high expectations of a more favorable climate for small business, including deregulation, tax cuts, and curtailing inflation.       

After a volatile December and the absence of any Santa Claus rally,  the equity markets showed some recovery with the recent release of two inflation indicators, the Producer Price Index (PPI) and the Consumer Price Index (CPI).   Both measures came in a bit softer than expected, and equity markets liked what they saw. Since the release of the PPI, the market has added almost 1,000 points to the Dow.   The softer inflation shows up in the retrenchment of the 10-year Treasury yield. After this latest round of softer inflation reports, the 10-year yield did retreat off the recent high of 4.77%. This is important because of the link between the 10-year yield and what customers ultimately pay to finance assets, such as consumer loans and home mortgages. If disinflation continues,  the 30-year mortgage rate will resume the downward trend that we saw in the 3rd and 4th quarters of 2024. 

The 10-year yield is a function of growth and inflation expectations in the economy.  If market participants are optimistic about economic projections, this will typically lead to higher interest rates, due to higher expected growth and inflation expectations.  With strong optimism, and a robust economy, what will it take to put the inflation genie back in the bottle?   

The key is on the supply side of the economy.  Policies of the new administration will need to stimulate both labor and capital.  Policies that encourage investment and capital formation will increase the nation’s productive capacity, providing additional headwinds to inflation. Policies that result in an expanding labor force, by increasing the labor force participation rate, will place downward pressure on the growth of average hourly earnings, providing additional headwinds to price hikes. Reducing the taxation on capital will increase the return on capital and thereby motivate and attract capital investment.  Jobs are created when entrepreneurs and investors are rewarded for capital they place at risk. There is a reason why shareholders are referred to as residual claimants of the firm. They are compensated for the investment of capital only after employees, suppliers, interest, and taxes, are paid. Shareholders are last in line, and their residual claim is often pennies on the dollar. Rewarding capital through higher returns will motivate the investment of additional capital,  going a long way to expand the supply side of the economy.  Optimism is riding on it.      

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Advocacy Update | 01.23.24

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It is the third week of the Indiana General Assembly. Here are some deadlines to keep in mind as the session moves forward. 

  • Thursday, February 20, 2025: Last day for third reading of House bills in House. 
  • Thursday, February 20, 2025: Latest day session must reconvene (IC 2-2.1-1-2) 

This week, Lance Allison (1si President), John Launius (1si Vice President and Director of Economic Development), and Melissa Spigler (1si Director of Investor Relations) went to the Statehouse Wednesday to hand deliver our advocacy agenda. We look forward to seeing the impact 1si and its constituents will make by advocating for policies that benefit local communities and businesses. 

 

The following bills have been discussed, but there is no stance taken at the time of this release.  

Senate Bills: 

SB-20: Economic development and foreign trade 

  • Current Status: 
  • 1/8/2025- Referred to Senate Homeland Security and Transportation 

SB-93: Common Construction wage 

  • Current Status: 
  • 1/8/2025- Read first time and referred to committee on Pensions and Labor 

SB-347: Indiana economic development corporation 

  • Current Status: 
  • 1/13/2025- Referred to Senate Tax and Fiscal Policy 

SB-392: Property tax relief for seniors and veterans 

  • Current Status: 
  • 1/13/2025- Read first time and referred to Committee on Tax and Fiscal Policy 

SB-443: Business personal property tax 

  • Current Status: 
  • 1/13/2025- Referred to Senate Tax and Fiscal Policy 

SB-463:  Childcare Matters

  • Current Status:
  • 1/13/2025 – Read first time and referred to Committee on Health and Provider Services

SB-488: Skills training pilot program 

  • Current Status: 
  • 1/13/2025- Read first time and referred to Committee on Education and Career Development 

House Bills 

HB-1021: Training in human trafficking 

  • Current Status: 
  • 1/8/2025- Read first time and referred to Committee on Courts and Criminal Code 

HB-1106:  Medicaid Buy-in

  • Current Status:
  • 1/8/2025 – Read first time and referred to Committee on Public Health

HB-1151: Advanced practice registered nurses 

  • Current Status: 
  • 1/8/2025- Read first time and referred to Committee on Public Health 

HB-1154: Behavioral health preceptorship tax credit 

  • Current Status: 
  • 1/8/2025- Referred to Committee on Ways and Means 

HB-1172: Office of entrepreneurship and innovation 

  • Current Status: 
  • 1/29/2025-House Commerce, Small Business and Economic Development, (Bill Scheduled for Hearing) 
  • 1/8/2025-Referred to House Commerce, Small Business and Economic Development 

HB-1180: Mental health care for veterans with PTSD 

  • Current Status: 
  • 1/8/2025- Read first time and referred to Committee on Veterans Affairs and Public Safety 

HB-1214: Worker’s compensation 

  • Current Status: 
  • 1/8/2025- Read first time and referred to Committee on Employment, Labor and Pensions 

HB-1223: Tourism development projects 

  • Current Status: 
  • 1/23/2025- House Government and Regulatory Reform, (Bill Scheduled for Hearing) 
  • 1/9/2025- Referred to House Government and Regulatory Reform 

HB-1226: Medicare supplement insurance 

  • Current Status: 
  • 1/9/2025- Read first time and referred to Committee on Insurance 

HB-1247: Prohibited food ingredients 

  • Current Status: 
  • 1/9/2025- Read first time and referred to Committee on Public Health 

HB-1248: Child Care and Development Fund 

  • Current Status: 
  • 1/22/2025- House Family, children and Human Affairs, (Bill Scheduled for Hearing) 
  • 1/9/2025- Referred to House Family, Children and Human Affairs 

HB-1296: Artificial intelligence and policies 

  • Current Status: 
  • 1/13/2025- Read first time and referred to Committee on Education 

HB-1347: Real estate matters 

  • Current Status: 
  • 1/21/2025- Read first time and referred to Committee on Financial Institutions 
  • 1/13/2025- Amended, reported – Do Pass. 

HB-1402: Local government finance 

  • Current Status: 
  • 1/13/2025- Referred to House Ways and Means 

HB-1408: Regional innovation development 

  • Current Status: 
  • 1/13/2025- Referred to House Ways and Means 

 You can find a copy of the 1si 2024 Advocacy Agenda by visiting https://1si.org/advocacy/ or downloading a PDF copy here. 

 

IU Southeast, Louisville hospital groups partner on workforce development 

NEW ALBANY, Ind. (Jan. 22, 2025) — Baptist Health, Norton Healthcare and UofL Health will join forces with Indiana University Southeast to build a degree program that will fill needed laboratory science health care positions, establishing a historic five-year workforce development partnership. 

Beginning in the fall, IU Southeast will offer a Bachelor of Science in medical laboratory science, training students to become medical technologists or clinical laboratory scientists. These professionals play a critical role in health care by analyzing biological samples to help diagnose and treat diseases. 

“This important partnership demonstrates Indiana University’s commitment to serving Hoosiers and our Kentucky neighbors, offering students the opportunity to gain experience in a critical, growing field,” IU President Pamela Whitten said. “Graduates of IU Southeast’s new degree program will go on to provide meaningful care to patients in local communities and across the globe.” 

“We are pleased to announce this unique arrangement with our hospital partners at UofL Health, Baptist Health and Norton Healthcare,” said Debbie Ford, chancellor of IU Southeast. “This collaboration reflects our institution’s commitment to addressing community needs while delivering top-tier educational opportunities close to home. Graduates of these programs embark on fulfilling and highly sought-after health care careers, with many choosing to remain in the region, strengthening our economy and serving local communities.” 

Previously, the program was offered through a consortium with Bellarmine University in Kentucky, but students will now complete the degree fully at IU Southeast. 

“The clinical lab testing done by medical laboratory scientists creates the foundation for all of modern health care,” said Dr. Emily Volk, vice president of system pathology and laboratories for UofL Health. “Without medical laboratory scientists, over 70 percent of the information used to diagnose patients would not be available. I applaud Indiana University Southeast and the other health care providers for working together to increase the number of laboratory medical scientists in our health care workforce.” 

The program will transfer to IU Southeast, along with faculty members and laboratory equipment necessary to teach the program. The three hospital groups will support the program’s development at IU Southeast by providing faculty and operational support, supplying laboratory equipment, remodeling campus laboratory spaces, and offering students hands-on clinical experience through internships. Current Bellarmine students in the program will come to IU Southeast in the fall to complete their degrees. 

The National Accrediting Agency for Clinical Laboratory Science has approved the transfer of accreditation to IU Southeast, ensuring the program meets national standards. Graduates will be required to pass the American Society for Clinical Pathology national board exam to qualify as medical laboratory scientists. 

“It takes a robust team of trained professionals to make sure the public gets the health care they need, and our organizations are proud to support the new medical lab sciences program at Indiana University Southeast,” said Charlotte Ipsan, senior vice president and chief hospital officer for Norton Healthcare. “A lab technologist’s work is vital to obtaining accurate test results that providers need to determine care plans.” 

Medical laboratory professionals work in various settings, including hospitals, clinics, diagnostic labs and research facilities, and the partnership will help fill these critical positions in the health care system.  

The demand for medical laboratory scientists is steadily rising in Indiana and Kentucky. According to Lightcast labor data, job demand in this field has increased by 5.4% over the most recent four-year analysis. From October 2023 to October 2024, monthly job postings for medical laboratory scientist positions averaged 435 across the two-state region. Local median salaries for these roles range from $58,740 to $82,900, reflecting competitive opportunities in this critical health care profession. 

“Lab scientists are vital members of the overall health care team,” said Mike Schroyer, president of Baptist Health Floyd. “Their work is vital in determining the plan of care for both inpatients and outpatients. Their work is also vital in caring for chronic conditions that count on accurate testing to regulate medications and prevent recurrent hospital admissions.  

“Baptist Health is very honored and proud to support Indiana University Southeast’s new medical lab sciences program. We look forward to supporting the program and the students’ needs.” 

### 

About IU Southeast:  IU Southeast is one of nine campuses of Indiana University. Offering top-quality and nationally accredited programs in education, nursing, business, social sciences, natural sciences, arts and humanities, the scenic 180-acre campus is less than 15 minutes from downtown Louisville, Kentucky. It currently has over 3,750 students and employs over 360 faculty members. About 400 students live on campus in five fully furnished, lodge-style residence halls. Through an agreement with the Commonwealth of Kentucky, Indiana University Southeast offers in-state tuition to students enrolled from eight counties in the Louisville region. For more information, visit https://southeast.iu.edu. IU Southeast is a tobacco-free campus. 

About Norton Healthcare 
Norton Healthcare is a leader in serving adult and pediatric patients from throughout Greater Louisville, Southern Indiana, the commonwealth of Kentucky and beyond. The not-for-profit hospital and health care system has six Louisville-based hospitals and three hospitals in Southern Indiana. 

With more than 23,000 employees, over 1,750 employed medical providers and more than 3,000 total providers on its medical staff, Norton Healthcare is Louisville’s second largest employer. It provides care at more than 400 locations throughout Kentucky and Southern Indiana. The six Louisville hospitals have a total of 1,927 licensed beds, and the Southern Indiana hospitals have a total of 347 licensed beds. The hospitals provide inpatient and outpatient general care as well as specialty care, including heart, neuroscience, cancer, orthopedic, women’s and pediatric services. The system also includes 10 outpatient centers, 19 Norton Immediate Care Centers, 14 Norton Prompt Care clinics and an expanded telehealth program. A strong research program provides access to clinical trials in a multitude of areas. 

About UofL Health  

UofL Health is a fully integrated regional academic health system with nine hospitals, four medical centers, Brown Cancer Center, Eye Institute, more than 250 physician practice locations, and more than 1,000 providers in Louisville and the surrounding counties, including southern Indiana. Additional access to UofL Health is provided through a partnership with Carroll County Memorial Hospital.  

Affiliated with the University of Louisville School of Medicine, UofL Health is committed to providing patients with access to the most advanced care available. This includes clinical trials, collaboration on research and the development of new technologies to both save and improve lives. With more than 14,000 team members – physicians, surgeons, nurses, pharmacists and other highly-skilled health care professionals, UofL Health is focused on one mission: to transform the health of communities we serve through compassionate, innovative, patient-centered care. For more information on UofL Health, go to www.UofLHealth.org. 

About Baptist Health 

Founded in 1924 in Louisville, Kentucky, Baptist Health is a full-spectrum health system dedicated to improving the health of the communities it serves. The Baptist Health family consists of nine acute care hospitals, employed and independent physicians, and more than 450 points of care, including outpatient facilities, physician practices and services, urgent care clinics, outpatient diagnostic and surgery centers, home care, fitness centers, and occupational medicine and physical therapy clinics. 

Baptist Health’s eight owned hospitals include more than 2,300 licensed beds in Corbin, Elizabethtown, La Grange, Lexington, Louisville, Paducah, Richmond and New Albany, Indiana. Baptist Health also operates two joint venture hospitals: the 410-bed Baptist Health Deaconess Madisonville in Madisonville, Kentucky with Deaconess Health System based in Evansville, Indiana, and the Baptist Health Rehabilitation Hospital, a 40-bed inpatient rehabilitation facility with Encompass Health, based in Birmingham, Alabama. 

Baptist Health employs more than 24,000 people in Kentucky and surrounding states. 

Baptist Health is the first health system in the U.S. to have all of its hospitals recognized by the American Nursing Credentialing Center with either a Magnet® or Pathway to Excellence® designation for nursing excellence. 

Baptist Health’s employed provider network, Baptist Health Medical Group, has more than 1,775 employed providers offering care in 78 specialties, including approximately 825 physicians and 955 advanced practice clinicians. Baptist Health’s physician network also includes more than 2,000 independent physicians.  

Learn more at BaptistHealth.com. 

From left, IU Vice President for Regional Campuses and Online Education Ken Iwama; School of Natural Sciences Dean Pamela Connerly; IU Southeast Chancellor Debbie Ford; IU President Pamela Whitten; IU Southeast students Adrienne Nalley and Cheyenne Helton; Charlotte Ipsan of Norton Healthcare; Dr. Emily Volk of UofL Health; and Michael Schroyer of Baptist Health Floyd at an IU Southeast event announcing the new partnership.

Nonprofit Spotlight | Greater Clark Education Foundation

Greater Clark Education Foundation
2112 Utica-Sellersburg Rd.
Jeffersonville, IN  47130
812.283.0701 Ext. 50600
www.gccsfoundation.com
Contact Person:
Emily Oliver-Jones, Executive Director

Mission

The core purpose of the GCCS Educational Foundation is to improve student outcomes and the learning of every student in every school, in collaboration with district leadership, by engaging the support of businesses and the community.

History

The Greater Clark Education Foundation was founded as a nonprofit corporation in 1999 to be a source of charitable funding for Greater Clark County Schools. In the last 25 years, we have grown from giving away several hundred dollars annually to providing over $130,000 in grants each year. That’s money that makes a difference for our students, educators and schools each year. Such programs as the Academies of Greater Clark that prepares our High School students for their post-secondary endeavors, Teacher Externships, Creative Classroom Grants, Theatre Art Grants, and VEX Robotics have enhanced the education of our students and enriched the careers of our educators. We are proud to have created our Teacher Supply Bus so that teachers have the opportunity to acquire needed classroom supplies at no cost to them. Our business partners and the Greater Clark communities continue to support

and advance our mission to impact the lives of every student in the Greater Clark County School district.

Year established: 1999

Counties/regions serviced: Greater Clark County Schools

Focus areas: Education enrichment including Creative Classroom Grants, Arts Grants, Teacher Supply Bus, special assemblies in schools, summer enrichments including Science Camp & Brick Build Day.

Volunteer Opportunities: Teacher Supply Bus collections, volunteers on our event committees and/or at our fundraising events

How 1si members can help your organization: as volunteers, committee members, advisors as we continue to grow, business/community partners in our initiatives and events.