University economists release updated data April 29th
The Regional Council of Economic Advisors will update their 2011regional economic indicators report at Northwest Indiana: Regional Economic Trends and Opportunities—The Regional Recovery? The program runs from 9:30 a.m. to 1 p.m. Monday, April 29th at Valparaiso University’s Harre Union, 1509 Chapel Drive.
Findings on the state of the region’s economy will answer important questions: How did Northwest Indiana fare in the downturn? Has the regional economy grown? What is our new Gross Regional Product? What industries are growing or declining? What is the quality of our jobs? Data points include the region’s biggest industries, driver industries and sources of future jobs.
The project unites university and college economists as well as community and business leaders to create a snapshot of the region’s economic state that can be updated periodically to help plan for the future.
“Through this project, we are updating the list of key economic indicators that define the whole region, then breaking the indicators down by county and some industry sectors,” said Don Babcock, Director of Economic Development at NIPSCO. “Reporting on the same statistics regularly helps identify trends and opportunities so that leaders in Northwest Indiana can better apply our available economic development resources.”
Tony Sindone, continuing lecturer in economics at Purdue North Central, said the project has more of an impact because it has been a united effort. “The issue is broader than just one institution or county. We can measure our economic progress and identify what areas are our strengths and what are our concerns on a regional basis,” Sindone said.
Babcock added, “I am confident that every event participant will have a number of ‘aha’ moments. The hope is that we will trigger some very positive initiatives that move the needle forward in Northwest Indiana at the county and regional level.”