Thank You for Renewing Your Membership | March 2023

One Southern Indiana would like to thanks the following members for renewing their membership during the month of March 2023.

Quarter Century Club (25 Years or More)Member Since
The Koetter Group1975
City of Charlestown1985
Hughes Group, Inc.1985
Junior Achievement of Kentuckiana1985
News and Tribune1985
Schuler Bauer Real Estate Services1985
LifeSpring Health Systems1986
Childplace1994
The Salvation Army1996
  
Ten to 24 Years) 
St. Elizabeth Catholic Charities1999
Floyd Circuit Court Judge2001
Charlestown Clark County Public Library2003
German American Bank2003
Nicholson Insurance Agency2003
Budget Services & Supplies, LLC2004
Smith & Smith, Attorneys – James U. Smith III2004
Park Community Credit Union2006
Ecotech Waste Logistics2007
Fox Law Offices, LLC2007
Leadership Southern Indiana2007
Delaco Kasle Processing Indiana2008
Delta Services LLC2009
YMCA of Greater Louisville, Inc.2009
Arctic Minerals2011
Rauch Industries2011
Autumn Woods Health Campus2013
Schmitt Furniture Co.2013
  
Five to Nine Years 
Lochmueller Group, Inc.2014
Steel Dynamics, Inc.2014
Polaris Travel Experts2015
Cardinal Pointe Financial Group2016
Center for Lay Ministries, Inc.2017
Delta Dental of Indiana2017
Facilities Management Services, Inc.2017
Groups Recover Together2017
Waterfront Botanical Gardens2017
Vitality Senior Services2018
  
Two to Four Years 
Clark’s Snacks2019
Floyds Knobs Water Company2019
Masters’ Supply, Inc.2019
Naked By Sunday2019
Lincoln Hills Health Center2020
Makarios Consulting, LLC2020
CRG Automation2021
CTDI2021
Employbridge2021
European Wax Center2021
F5 Enterprises, LLC  dba Ink Spot Cafe2021
Holiday Inn Express2021
Miranda Construction2021
Nothing Bundt Cakes Jeffersonville2021
  
One Year 
713 Architects, PLLC2022
Bodine Perry2022
Carpet Specialist, Inc.2022
Operation Parent Inc2022
Ron  Grooms – Retired Executive2022
Serenity Smile Care, LLC2022
Southern Indiana Dent2022
Advocacy-Update-Email-Header2

Advocacy Update | 03.29.23

Advocacy-Update-Email-Header2

Welcome to the 1si Advocacy Update!  Every Wednesday while the General Assembly is in session, you will receive an update of 1si’s advocacy efforts. If you missed any of our previous updates from this session, please click here. 

 Finally, we have some exciting movement back at the Statehouse! Today’s focus will show where bills are stationed in different committees since crossover. There has been some movement and a few bills have passed out of their committees. We expect more bills to pass out of committees and to be heard on the floor of each chamber starting this week.  

 As a reminder, our 2023 Call to Action includes talent attraction and retention which has four main concerns: Quality of Place, Housing Growth, Availability of Childcare, and Enhance Healthy Lifestyles.  

 Bills on which 1si is taking a position: 

 Supporting: 

  • HB 1005: Establishes the residential housing infrastructure assistance program and residential housing infrastructure assistance revolving fund. 
    • Passed House 91-6. 
    • In Senate Appropriations Committee. 

1si’s second Call to Action is to “develop new and enhanced tools to build and maintain infrastructure in support of housing growth.” 1si is in support as this bill provides a tool for local communities to meet the needs of housing shortages and prepare for future housing growth.  

  • HB 1160: Creates funding for workforce training program and fund.   
    • Passed House 92-0.   
    • In Senate Family and Children Services Committee.  

One of 1si’s 2023 Priorities is “Meeting Workforce Demands.” 1si is in support as this bill would increase access to and fund workforce training and education programs for career support. As workforce shortages are a need for our businesses in Southern Indiana and throughout the State, this bill provides a tool to help booster the pipeline of potential individuals to be trained to enter or reenter the workforce.  

  • SB 414: Provides alternatives solutions to residential onsite sewage system fails. 
    • Passed Senate 44-5. 
    • In House Environmental Affairs Committee. 

1si’s second Call to Action is to “develop new and enhanced tools to build and maintain infrastructure in support of housing growth.” 1si is in support as this bill would establish an alternative for homeowners needing to replace and upgrade their septic systems so that their houses can remain viable. This bill provides homeowners with a tool to build and maintain infrastructure to support existing homes that may be deemed unlivable without these upgrades. 

  • SB 35: Requires students to take a financial literacy course.  
    • Passed Senate 47-2.  
    • In House Education Committee.  

One of 1si’s Governing Principles is “Career-Ready Workforce and Educational Initiatives.” 1si is in support as this bill requires an individual to successfully complete a personal financial responsibility course before the individual may graduate and creates requirements for content that must be covered in a personal financial responsibility course. 

  • HB 1046: Provides that a military base reuse authority (such as River Ridge) is qualified to receive funds for an eligible project from the local road and bridge matching grant fund. 
    • Passed House 90-3. 
    • In Senate Homeland Security and Transportation Committee.  

One of 1si’s 2023 Priorities is “Infrastructure and Housing.” “This is the time to assist communities in building and maintaining roads and bridges…which are essential economic growth strategies for Southern Indiana.” 1si is in support as this bill would allow River Ridge and other military base reuse authorities to apply for a grant fund to support road or bridge projects.  

 Opposing: 

  • HB 1278: Prohibits the Indiana economic development corporation, any other public authority, or any party negotiating on behalf of any of those entities (like 1si) from entering into a non-disclosure agreement designed to keep the details of the negotiation private until approval by a public body is warranted. 
    • Died in House.  

One of 1si’s Governing Principles is “Sustainable Economic Growth” as 1si serves as the Lead Economic Development Organization for Clark, Floyd, and Scott Counties. 1si is in opposition as this bill prohibits the State, or any party negotiating on behalf of any public authority for economic development proposes from entering into nondisclosure agreements. This bill would eliminate a tool that is used frequently in economic development to help meet the needs of different businesses. If passed, this would give Indiana a disadvantage to surrounding States that use nondisclosure agreements.  

 Monitoring: 

  • HB 1449: Amends the twenty-first-century scholars program eligibility requirements for certain students and auto enrolls those students but students may opt-out. 
    • Passed House 92-1. 
    • Passed Senate Education and Career Development and now in Appropriations Committee. 
  • HB 1001: Appropriates the State budget. 
    • Passed House 66-29. 
    • In Senate Appropriations Committee.  
  • SB 317: Provides that a political subdivision may make advance payments to contractors to enable the contractors to purchase materials needed for a public works project of the political subdivision. 
    • Passed Senate 44-0. 
    • Passed Local Government Committee and now on House Floor.  
  • HB 1209: Allows the Indiana Destination Development Corporation to establish a foundation. 
    • Passed House 95-1. 
    • Passed Senate 49-0. 
  • SB 20: Allows a city/town to designate an outdoor location as a refreshment area with approval of the alcohol and tobacco commission.  
    • Passed Senate 39-10. 
    • In House Public Policy Committee.  
  • SB 37: Sunsets any Food and Beverage Taxes except for Marion County, the surrounding Indianapolis counties, and Orange County (French Lick). Creates new requirements for future Food and Beverage Taxes.  
    • Passed Senate 50-0. 
    • In House Ways and Means Committee.  
  • SB 202: Creates a taskforce to study the need for various housing matters.  
    • Passed Senate 37-9. 
    • In House Rules and Legislative Process Committee.  
  • SB 390: Allows municipalities to apply to become commercial solar and wind energy ready communities.  
    • Passed Senate 36-12. 
    • Passed House Utilities, Energy, and Telecom. Committee and now on House Floor.  
  • HB 1591: Expands access to childcare and pre-kindergarten programs.  
    • Passed House 94-0. 
    • In Senate Education and Career Development Committee.  

 We will keep you updated on our actions related to the 2023 Indiana Legislative Session, but for more information on our Advocacy Agenda, please visit www.1si.org/advocacy.  

Economic Update | Additional Support for a Slowdown in the Economy

submitted by
Uric Dufrene, Ph.D., Interim Executive Vice Chancellor for Academic Affairs, Sanders Chair in Business, Indiana University Southeast

Since the Covid pandemic, it seems that there is never a dull moment when it comes to economics and the financial markets.  We’ve taken quite a few roller coaster rides along the way, and over the past couple of weeks, a new ride was added to the park.

The latest to hit financial markets is the emerging banking crisis, as it has been defined by some. I’m far from a banking expert but will try to summarize the gist of the problem.      Over the past year, the Fed has increased interest rates at the fastest pace since the 1980s.  We saw four consecutive increases of 75 basis points, and the most recent meeting saw another increase of 25 basis points.

One effect of these interest rate increases is the impact on the value of existing bonds. For example, the traditional 60/40 portfolio had a bad year, and this was due to a combination of sinking equity prices, and declining bond values.  Traditionally, when stocks are declining, we might expect to see gains in bonds, due to declining interest rates in anticipation of a slowing economy.  But in the past year, we saw an escalation of interest rates, and this was done to stamp out inflation, which was running at a 4-decade high.   So, in addition to declining stocks, we also saw declining bonds (due to increasing interest rates).

What is the connection to the bank turmoil we’ve been hearing about? Let’s take Silicon Valley Bank and use it as an example.  Silicon Valley Bank (SVB) was very focused on the technology industry, which makes sense with a name like Silicon Valley Bank.  Remember what was happening to the stocks of some of these technology companies during the pandemic?   We were seeing sky-high stock prices, and these companies were generating lots of cash. When you have a lot of cash, you deposit it at the bank. Banks take deposits and lend to businesses and consumers in the form of loans (assets to the bank).   The bank could only lend out money so fast and could not keep up with the amount of cash being deposited in the bank.

So, with all this cash, the bank purchased assets in the form of bonds, Treasury bonds and mortgage bonds backed by government agencies.   When investors seek a safe investment, they typically look to government bonds, and this is what Silicon Valley Bank did.   These investments were safe from a credit risk perspective because of the backing of the U.S. government. Credit risk is one type of risk when you buy a bond, but another type of risk is interest rate risk.  Interest rate risk occurs when a bond value declines due to increasing interest rates.

All these bonds that were purchased by Silicon Valley Bank declined in value due to higher interest rates.   These losses then necessitated the company to announce that it would issue more equity, to basically cushion the losses from the bank’s bond portfolio.   Theory and evidence show that when a company announces an equity offering, stock prices usually decline, and that is what happened to SVB.   The stock price plummeted, and the social media world erupted around the safety of the bank. The bank also had a very high level of uninsured deposits.  Depositors began to panic, and a “new-fashioned” bank run ensued.  I use the term “new-fashioned” because it was a bank run, not like the one you see in It’s a Wonderful Life, but one that came through mobile phones and laptops.

These developments, along with higher interest rates, will curtail investment.  We are already seeing a big slowdown in capital expenditures, compared to the past couple of years. A constrained investment environment will work to also produce an overall slowdown in the economy, which is what we have been expecting for this year. Financial markets are now predicting the Fed will begin to lower rates later this year as a result of the anticipated slowing of the economy. We’ll likely continue to see decelerating inflation, even though the past couple of reports came in a little stronger than expected on some measures.   As we mentioned in our outlook last November, we can still expect a shallow recession, even with the latest ride.

FOR IMMEDIATE RELEASE: ONE Fund program approves 9 New Albany businesses for relief loans.

ONE Fund program approves 9 New Albany businesses for relief loans.
New Albany Central District Loan Program is a collaboration between One Southern Indiana, the City of New Albany, Floyd County and the Caesar’s Foundation of Floyd County.

NEW ALBANY, IN – The combination of the Sherman Minton Bridge Renewal Project and the Main Street Revitalization project is hampering customers’ ability to access businesses within the Central Business District of the City of New Albany, affecting those businesses’ short-term revenue and long-term viability.  In partnership with the City of New Albany, Floyd County, and the Caesars Foundation of Floyd County, The ONE Fund established the New Albany Central Business District Loan Program (NACBDLP) to assist these impacted businesses within the downtown core.

To date, nine businesses have been approved for financing through the program, including Alex and Kate Boutique, Dress & Dwell, New Albany Sugar Shoppe, Primos Detail Plus, Regalo, Royal Couture Treats Boutique and three other businesses.  Eight of the loans have closed, with one still pending.

“Projects like the revitalization of Main Street and the Sherman Minton Bridge will greatly enhance our central business district in the long run, but we recognize the effect that these projects are having on the businesses who are the heartbeat of downtown,” said At-Large City Councilmember Jason Applegate.  “We’re pleased to be a partner in this program that offers interest-free, short-term loans to help provide relief from the impact of construction.”

Eligible businesses must be physically located within the Central Business District of the City of New Albany, have 50 or fewer employees and meet other criteria.  Proceeds from the 36-month, zero-interest loans must be used for overhead and operational expenses such as payroll, rent and utilities.

Floyd County contributed to 1si’s ONE Fund for small businesses and approved converting their contribution for the NACBDLP.  Dr. Al Knable, Floyd County Commissioner, stated, “The ONE Fund altering its direction to help those businesses with a pressing need makes sense, and Floyd County is pleased to support this action with the funds we contributed.  We know that thriving small businesses are a critical element to economic, tourism and population growth, and we proudly support those facing this unique challenge.”

“Part of our mission and mandate is to make investments which encourage economic development in Floyd County and benefit the community,” said Josh Kornberg, Executive Director of the Caesars Foundation of Floyd County.  “Partnering with the City, County and One Southern Indiana to assist these businesses impacted by projects that are outside their control fits neatly into that mission.  We’re excited to be a part of this loan program.”

Wendy Dant Chesser, president and CEO of One Southern Indiana, which administers The ONE Fund, added, “Situations like this one are perfectly suited to The ONE Fund, which exists to assist businesses who may not easily fit into standard lending guidelines or circumstances.  We’re proud to work in a community where partners like the City of New Albany, Floyd County Government and Caesars Foundation of Floyd County come together with One Southern Indiana to meet such an unexpected need and help these businesses until construction is no longer having such an impact.”

About The One Fund
The ONE Fund was created by One Southern Indiana in 2022 to provide small business owners in the Indiana counties of Clark, Floyd, Jefferson, Scott and Washington with the capital required for start-up and growth initiatives.  The Fund provides microloans to small businesses as their “lender of last resort” in order to support small businesses as they work toward stability and bankability.

About One Southern Indiana
One Southern Indiana was formed in July of 2006 as the economic development organization and chamber of commerce serving Clark and Floyd counties. 1si’s mission is to provide the connections, resources and services that help businesses innovate and thrive in the Southern Indiana / Louisville metro area.  For more, visit 1si.org.

For Additional Information:
Wendy Dant Chesser, One Southern Indiana
Wendy@1si.org  |  812.945.0266

Advocacy-Update-Email-Header2

Advocacy Update | 03.22.23

Advocacy-Update-Email-Header2

Welcome to the 1si Advocacy Update!  Every Wednesday while the General Assembly is in session, you will receive an update of 1si’s advocacy efforts. If you missed any of our previous updates from this session, please click here.  

Bills are still slowly starting to move since crossover. Therefore, today’s update will provide information on how you could potentially become more involved in advocating at the state level. But first, we wanted to highlight some research on the trends of the future demographics in the workforce.  

The Indiana Chamber of Commerce and the Indiana Chamber Executive Association hosted the Chamber Day Dinner Event on March 14. 1si’s Advocacy Leadership Team attended both events and connected with our local legislators.  

The Chamber Dinner featured Dr. James H. Johnson Jr. with the University of North Carolina as the keynote speaker. Dr. Johnson is a highly distinguished professor of strategy and entrepreneurship in the Kenan-Flagler Business School and director of the Urban Investment Strategies Center. He spoke of his research on community and economic development, the effects of demographic changes on the U.S. workplace, interethnic minority conflict in advanced industrial societies, poverty and public policy in urban America and workforce diversity issues.  

Access Dr. Johnson’s research at this link. There are several key points upon which our businesses and communities should focus in order to prosper.  First, the human race is not growing fast enough to replace our current workforce. In fact, the death count surpassed the birth rate in 2016 for the first time in U.S. history. Second, our population is browning and greying. As a society, we must be more inclusive in attracting talent as mixed and nonwhite races continue to increase and the white demographic is declining.  Also, the fastest growing population is the 65+ population (greying) which means businesses and communities should find ways to keep this population active.  Marketing efforts should include diversity to retain and attract talent. Finally, childcare will remain a high priority but the need for eldercare is increasing. Many working individuals are facing an invisible overtime where they are working at home taking care of their children, or their parents, or both.  

Can you advocate for your industry at the state level? The list provided are opportunities to join a position on an Indiana Board or Commission. Some of these work groups have websites describing the roles, while others are referenced in state statute only. Specific details, such as time requirements for service, meeting locations, etc. will vary, but all work groups typically require a commitment to attending at least 75 percent of the meetings. 

Those who submit for consideration must understand a vacancy on a desired group may not become available immediately. Many of the appointments are made in June but the State allows submittals to be made throughout the year.  

Please contact Reny Keener via email at renyk@1si.org.  Interested individuals can send a resume as well as the name of the board/commission that you would like to join (up to 5).  1si will send a recommendation letter to the Governor’s Office. After the letter is submitted, the Governor’s staff will be in touch directly with each individual if they are interested in appointing the individual to the board/commission.  

We will keep you updated on our actions related to the 2023 Indiana Legislative Session, but for more information on our Advocacy Agenda, please visit www.1si.org/advocacy.   

Nonprofit Spotlight | Hope Southern Indiana

This special feature showcases 1si’s nonprofit members. Spotlighting members from across the community, 1si’s Nonprofit Spotlight reflects the variety of our membership.

Hope Southern Indiana
1200 Bono Rd
New Albany, IN 47150
Business Phone:     812-948-9248
www.hopesi.org

Contact Person: Angela Graf, Executive Director
Contact Email:        agraf@hopesi.org

 

Agency Mission Statement or Description:

Year established:  1964-Downtown Neighborhood Council-Interfaith Community Council and in 2012 as Hope Southern Indiana

Counties/regions serviced: Hope SI serves primarily Floyd & Clark Counties, Retired Senior Volunteer Program (RSVP) serves Floyd, Clark, Scott, Washington & Jefferson County

Focus areas: Basic Needs-Human Services

Impact in community: We partner with 57 churches, MUW, Dare To Care and collaborate with similar nonprofits caring for our low-income population needing assistance. In 2022, we provided 17,565 services to the community. We distributed more than $955,000 in food through the pantry. We served 2092 unduplicated households with 88% of services in Floyd County. We helped 701 families with basic utility bills to avoid disconnection, assisted 628 families with rent/mortgage payments to avoid eviction, and with our IDVA grant, we were able to provide $41,000 in services to Veterans.  In 2022, we served 783 households for the first time ever; families that had not had to visit a food pantry or social service organization before.

Volunteer Opportunities: We offer many opportunities for volunteers at Hope Southern Indiana.  Through our RSVP program, we offer volunteer opportunities at 130 other organizations in 5 counties.

How 1si members can help your organization: Donate food, and hygiene items, host food drives, and participate in programs such as Pack the Bus, Clothe A Teen, and Spirit of the Season. Volunteer at Hope with your church, organization, or business. Make a monetary donation through our website.

Advocacy-Update-Email-Header2

Advocacy Update | 03.15.23

Advocacy-Update-Email-Header2

Welcome to the 1si Advocacy Update!  Every Wednesday while the General Assembly is in session, you will receive an update of 1si’s advocacy efforts. If you missed any of our previous updates from this session, please click here.

As a reminder, our 2023 Call to Action includes talent attraction and retention which has four main concerns: Quality of Place, Housing Growth, Availability of Childcare, and Enhance Healthy Lifestyles.

Bills are slowly starting to move since crossover. There are no new updates on bill status but today we will provide an update on the activity of our Advocacy Leadership Team.

The Indiana Chamber of Commerce and the Indiana Chamber Executive Association hosted the Chamber Day at the Statehouse Event and Chamber Day Dinner Event on March 14. The Advocacy Leadership Team attended both events and connected with our local legislatures.

During the Chamber Day at the Statehouse Event, our Advocacy Leadership Team was able to learn about READI 2.0 opportunities, public investment in early childhood education, public/mental health funding, best practices for chamber advocacy, and received a federal update from the U.S. Chamber of Commerce. The Indiana Chamber of Commerce highlighted bills that they are following as well.

The Chamber Dinner Event featured James H. Johnson Jr. as the keynote speaker. James is the William R. Kenan Jr. Distinguished Professor of strategy and entrepreneurship in the Kenan-Flagler Business School and director of the Urban Investment Strategies Center in the Frank Hawkins Kenan Institute of Private Enterprise at the University of North Carolina. He spoke on his research on community and economic development, the effects of demographic changes on the U.S. workplace, interethnic minority conflict in advanced industrial societies, poverty and public policy in urban America and workforce diversity issues.

Our Advocacy Council had our midpoint meeting on March 7. During the meeting, our Advocacy Leadership Team updated the rest of the Advocacy Council on current bill that 1si has taken action and any bills that are being monitored/followed, and any other bills that are on the radar of other council members.

Upcoming Advocacy Events features a Luncheon with Congresswoman Erin Houchin, representing Indiana Congressional District 9. This event will feature a fireside chat between our President & CEO, Wendy Dant Chesser and Congresswoman Houchin. The chat will focus on Congresswoman Houchin’s transition in roles from the Indiana State Senate to the United States House of Congress, any of her legislative priorities, and how she is still focusing on Southern Indiana business and residents even though she is in Washington D.C. There will be time at the end of the chat for questions from the audience so please come with potential questions.

We will keep you updated on our actions related to the 2023 Indiana Legislative Session, but for more information on our Advocacy Agenda, please visit www.1si.org/advocacy.

Advocacy-Update-Email-Header2

Advocacy Update | 03.08.23

Advocacy-Update-Email-Header2Welcome to the 1si Advocacy Update!  Every Wednesday while the General Assembly is in session, you will receive an update of 1si’s advocacy efforts. If you missed any of our previous updates from this session, please click here.

We have reached crossover! On Monday bills started moving in the other chamber and the deliberation process starts over again. A quick stat: Approximately 27% of the House bills that were filed in the General Assembly passed, as did 33% of the Senate bills that were filed.

Where are the bills that we have been following? Below, we take a glance at those bills that moved forward and those that died.

As a reminder, our 2023 Call to Action includes talent attraction and retention which has four main concerns: Quality of Place, Housing Growth, Availability of Childcare, and Enhance Healthy Lifestyles. Unfortunately, all standalone childcare bills have died. However, rumor around the legislature is that childcare language will be placed in other bills, including the Budget Bill (HB 1001).

Bills on which 1si is taking a position:

Supporting:

  • HB 1005: Establishes the residential housing infrastructure assistance program and residential housing infrastructure assistance revolving fund.
    • Passed House 91-6.

1si’s second Call to Action is to “develop new and enhanced tools to build and maintain infrastructure in support of housing growth.” 1si is in support as this bill provides a tool for local communities to meet the needs of housing shortages and prepare for future housing growth.

  • HB 1160: Creates funding for workforce training program and fund.
    • Passed House 92-0.

One of 1si’s 2023 Priorities is “Meeting Workforce Demands.” 1si is in support as this bill would increase access to and fund workforce training and education programs for career support. As workforce shortages are a need for our businesses in Southern Indiana and throughout the State, this bill provides a tool to help booster the pipeline of potential individuals to be trained to enter or reenter the workforce.

  • SB 414: Provides alternatives solutions to residential onsite sewage system fails.
    • Passed Senate 44-5.

1si’s second Call to Action is to “develop new and enhanced tools to build and maintain infrastructure in support of housing growth.” 1si is in support as this bill would establish an alternative for homeowners needing to replace and upgrade their septic systems so that their houses can remain viable. This bill provides homeowners with a tool to build and maintain infrastructure to support existing homes that may be deemed unlivable without these upgrades.

  • SB 35: Requires students to take a financial literacy course.
    • Passed Senate 47-2.

One of 1si’s Governing Principles is “Career-Ready Workforce and Educational Initiatives.” 1si is in support as this bill requires an individual to successfully complete a personal financial responsibility course before the individual may graduate and creates requirements for content that must be covered in a personal financial responsibility course.

  • HB 1046: Provides that a military base reuse authority (such as River Ridge) is qualified to receive funds for an eligible project from the local road and bridge matching grant fund.
    • Passed House 90-3.

One of 1si’s 2023 Priorities is “Infrastructure and Housing.” “This is the time to assist communities in building and maintaining roads and bridges…which are essential economic growth strategies for Southern Indiana.” 1si is in support as this bill would allow River Ridge and other military base reuse authorities to apply for a grant fund to support road or bridge projects.

Opposing:

  • HB 1278: Prohibits the Indiana economic development corporation, any other public authority, or any party negotiating on behalf of any of those entities (like 1si) from entering into a non-disclosure agreement designed to keep the details of the negotiation private until approval by a public body is warranted.
    • Died in House.

One of 1si’s Governing Principles is “Sustainable Economic Growth” as 1si serves as the Lead Economic Development Organization for Clark, Floyd, and Scott Counties. 1si is in opposition as this bill prohibits the State, or any party negotiating on behalf of any public authority for economic development proposes from entering into nondisclosure agreements. This bill would eliminate a tool that is used frequently in economic development to help meet the needs of different businesses. If passed, this would give Indiana a disadvantage to surrounding States that use nondisclosure agreements.

Monitoring:

  • HB 1449: Amends the twenty-first-century scholars program eligibility requirements for certain students and auto enrolls those students but students may opt out.
    • Passed House 92-1.
  • SB 186: Establishes a state tax credit for a taxpayer that makes qualified child care expenditures or qualified child care resource and referral expenditures in providing child care to the taxpayer’s employees.
    • Died in Senate.
  • HB 1001: Appropriates the State budget.
    • Passed House 66-29.
  • HB 1085: Provides that a percentage of the incremental property taxes of any new tax increment financing area shall be allocated to school corporations that maintain an attendance area that includes all or part of the allocation area.
    • Died in House.
  • SB 317: Provides that a political subdivision may make advance payments to contractors to enable the contractors to purchase materials needed for a public works project of the political subdivision.
    • Passed Senate 44-0.
  • HB 1209: Allows the Indiana Destination Development Corporation to establish a foundation.
    • Passed House 95-1.
  • SB 20: Allows a city/town to designate an outdoor location as a refreshment area with approval of the alcohol and tobacco commission.
    • Passed Senate 39-10.
  • SB 37: Sunsets any Food and Beverage Taxes except for Marion County, the surrounding Indianapolis counties, and Orange County (French Lick). Creates new requirements for future Food and Beverage Taxes.
    • Passed Senate 50-0.
  • SB 202: Creates a taskforce to study the need for various housing matters.
    • Passed Senate 37-9.
  • SB 390: Allows municipalities to apply to become commercial solar and wind energy-ready communities.
    • Passed Senate 36-12.

We will keep you updated on our actions related to the 2023 Indiana Legislative Session, but for more information on our Advocacy Agenda, please visit www.1si.org/advocacy.

Economic Update | Southern Indiana Payrolls Reach Record High

submitted by Uric Dufrene, Ph.D., Interim Executive Vice Chancellor for Academic Affairs, Sanders Chair in Business, Indiana University Southeast

Recent data releases show that Southern Indiana continues to see strong job growth. The most recent county-level data show that payrolls increased by 4,127 during the 3rd quarter of 2022. This is the highest increase since the Covid pandemic, not counting one outsize increase due to the reopening. Since 2001, there has only been one other quarter where the region observed a greater change in jobs, and that was in the fourth quarter of 2015. The five Southern Indiana counties of the Louisville Metro region are now at the highest level of payrolls in history. The region now boasts 112,807 jobs, exceeding the previous 2022 Q2 high of 111,854.

The largest gains occurred in the accommodation and food services industry, adding 1,397 jobs. The significance of this gain is the industry is now at the highest level of jobs in the history of the series. In fact, the industry has added about 1,000 jobs since the 3rd quarter of 2019, just before the pandemic. Average weekly wages are also at the highest level, at $443, and 15% higher than the previous year. Just prior to the pandemic, average weekly wages in food and accommodation were at $316. So, the industry has seen a sizeable increase in wages, increasing by 40% since the 3rd quarter of 2019. This has implications for pricing, profitability, and labor.

Nationally, the services economy is running strong. The latest ISM Services index came in higher than expected, and well over 50, the mark that shows expansion. The latest report was released on Friday, and the equity markets responded with strong gains. This is one of the challenges of the Fed. The service economy is expanding, and bringing wage growth along, as we see with the strong Southern Indiana wage growth in accommodation and food services.

The second leading industry with respect to job growth is admin. & support & waste mgt. & rem. services, adding another 780 jobs. Most of these gains are likely in temporary labor services. Along with the sizeable increase in payrolls, average weekly wages are also at the highest level in the history of the series, at $976. This represents an increase of $123 from the previous year, representing an increase of 14.4%. Since the 3rd quarter of 2019, average weekly wages have increased by 30%.

Another notable increase came in manufacturing, adding almost 600 jobs over the year. Average weekly wages now stand at $1,188, which is the highest for a 3rd quarter result. Overall, average weekly wages peaked at $1,253 for the 4th quarter of 2021. During the 3rd quarter of 2022, the national ISM Manufacturing Index was hovering right at about 50. In fact, it fell below 50 during the 4th quarter of 2022. Despite the deceleration in national manufacturing, manufacturing payrolls across Southern Indiana were accelerating through 2022. We also saw similar trends across the metro area.

One of the reasons why the region continues to see strong job gains is due to growth in the labor force. Unlike labor force trends that we observed nationally over 2022, the Southern Indiana labor force did see positive traction over the year. The latest data show that the Southern Indiana labor force increased just above 4%, whereas national labor force growth just eked out a .01% gain.

Last month saw strong payroll growth nationally. The monthly employment report showed payrolls increasing by a whopping 500,000 plus. Retail sales saw sizeable gains, and inflation measures also ticked up. All this is making things very complicated for the Federal Reserve. One month is not a trend, but if we see another strong payrolls report for February, along with any pick up in wages, this will change the calculus for the Fed. Markets continue to price in another 25 basis points increase for the next meeting in March. This may change if we see stronger employment reports and additional signs for accelerating inflation. We thought peak inflation was in the rear-view window. The next couple of months will be quite telling, and additional data will give us hints on pending Fed action.



Thank You for Renewing Your Membership | February 2023

One Southern Indiana would like to thank the following businesses for renewing their membership during the month of February 2023.

Quarter Century Club (25 Years or MoreMember Since
Greater Clark County Schools1980
Indiana University Southeast1985
AML Construction1986
Amatrol, Inc.1990
Dennis Ott & Company, Inc.1990
Jeffersonville Township Public Library1991
New Albany Floyd County Schools1991
Indiana Land Co.1994
J. Rorrer & Company, CPA1994
Mister ”P” Express, Inc.1996
Orcutt Winslow + TEG1998
  
Ten to 24 Years 
First Harrison Bank1999
Stephen C. Gault Co.2002
Padgett, Inc.2003
RE/MAX FIRST2004
Wellstone Regional Hospital2005
Mediaura2008
Nu-Yale2008
Scot Mailing and Shipping Systems2008
Environmental Compliance Source, LLC2010
S & M Precast, Inc.2010
GHK Truss, LLC2012
Air Hydro Power2013
Community Montessori Charter Public School2013
Discount Labels, Inc.2013
Silver Heights Camp & Retreat Center2013
Squire Boone Caverns2013
United Consulting2013
  
Five to Nine Years 
Seven Development, LLC d/b/a 7D Commercial Real Estate2015
Charles Schwab – Michael E. Johnson2016
Our Lady of Providence High School2016
A. C. Equipment2017
A. Rutz Law, LLC2017
Atlas Technical Consultants2017
Cunningham Campers, Inc.2017
Larry J. Lynn / LegalShield Prepaid Legal Services & ID Theft Protection2017
Premier Capital Corporation2017
Republic Services2017
Terracon Consultants, Inc2017
ARC Janitorial Supply2018
Brandon’s House Counseling Center, Inc.2018
Louisville Sports Commission2018
Park National Bank2018
Preferred Meats, Inc.2018
Ramiro’s Cantina2018
  
Two to Four Years 
Arnold Painting, LLC2019
Russell Cellular2020
SERVPRO of Floyd, Clark, Harrison, Perry, Crawford, Orange, Washington & Scott Counties2020
Southern Hospitality2020
Vsimple2020
BluMine Health, LLC2021
Cripe2021
Destination Georgetown2021
Lewen Line Construction2021
Magnet Culture2021
Mansion 18862021
Opineapple2021
Our Lady of Perpetual Hops2021
Ready Set Prep’d2021
Unlimited Travel Consultants, LLC2021
  
One Year 
20/twenty Strategic Consultants2022
Matrix Integration, LLC2022
Parkside Trace Apartments2022
Rock Island Capital2022
Taziki’s Mediterranean Cafe Jeffersonville2022
The Jeff on 10th2022