State of Indiana

To foster Hoosier potential by becoming the Midwest's premier state for innovation, opportunity, and quality of life.

State of Indiana SWOT Analysis

Updated: October 3, 2025 • 2025-Q4 Analysis

How to Use This Analysis

This analysis for State of Indiana was created using Alignment.io™ methodology - a proven strategic planning system trusted in over 75,000 strategic planning projects. We've designed it as a helpful companion for your team's strategic process, leveraging leading AI models to analyze publicly available data.

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The State of Indiana SWOT Analysis reveals a pivotal moment. The state's bedrock strengths—unmatched fiscal stability, manufacturing depth, and logistical supremacy—provide a powerful launchpad for its ambitious vision. However, this foundation is undermined by persistent weaknesses in public health, skilled talent gaps, and lagging wages. The primary strategic imperative is to bridge this gap. Indiana must leverage its financial strength to aggressively invest in its people and places, transforming weaknesses into strengths. Seizing monumental opportunities like the CHIPS Act and EV transition is not merely an option but a necessity to counteract competitive threats and rewrite the state's narrative from a manufacturing stalwart to a dynamic, future-focused leader. The path to achieving its vision runs directly through talent development and retention, which requires building communities as compelling as its business case.

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No past cycles

Mission & Vision SWOT Analysis OKR Plan Retrospective AI Strategy Data Acquisition

To foster Hoosier potential by becoming the Midwest's premier state for innovation, opportunity, and quality of life.

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Strengths

FISCAL: AAA credit rating and balanced budget surplus provide stability.
MANUFACTURING: #1 in U.S. mfg. jobs per capita creates strong foundation.
LOGISTICS: 'Crossroads of America' with elite infrastructure network.
BUSINESS-CLIMATE: Low corporate taxes and a predictable regulatory environment.
LIFE-SCIENCES: Powerful hub with anchor corps like Eli Lilly and Roche.

Weaknesses

WAGES: Per capita personal income lags the national average significantly.
HEALTH: Poor public health rankings (obesity) hurt workforce productivity.
TALENT-GAP: Critical shortage of skilled workers in high-demand tech fields.
VC-FUNDING: Limited early-stage venture capital compared to coastal hubs.
DIVERSITY: Lack of diversity can be a barrier to attracting top global talent.

Opportunities

CHIPS-ACT: Federal funding to build a domestic semiconductor industry.
EV-TRANSITION: Leverage auto mfg. base to become an electric vehicle hub.
REMOTE-TALENT: Attract skilled workers with high quality of life, low cost.
AG-TECH: Capitalize on agricultural roots to lead in food innovation.
SPORTS-TECH: Grow sports tech ecosystem around Indianapolis's major events.

Threats

COMPETITION: Neighboring states (OH, MI) offer aggressive incentive packages.
WORKFORCE: An aging population and low labor force participation rate.
INTEREST-RATES: Higher rates slowing capital investment and construction.
ENERGY-TRANSITION: Risk to coal-dependent regions without a clear plan.
PERCEPTION: National image as a 'flyover state' hinders talent attraction.

Key Priorities

TALENT: Aggressively develop, attract, and retain a world-class workforce.
INNOVATION: Double down on high-growth sectors: chips, life sci, EVs.
QUALITY-OF-PLACE: Invest in communities to make Indiana a talent magnet.
BRANDING: Proactively market Indiana's strengths on a global stage.

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State of Indiana OKR

Updated: October 3, 2025 • 2025-Q4 Analysis

The State of Indiana OKR plan provides a focused, actionable blueprint for translating its vision into reality. By tightly aligning objectives to the core SWOT conclusions—talent, innovation, place, and brand—it ensures strategic cohesion. The plan rightly prioritizes the human element, recognizing that attracting innovative companies is impossible without first attracting and retaining brilliant people. The key results are ambitious but measurable, shifting focus from mere activity to tangible outcomes like net talent migration and venture capital investment. This OKR framework transforms broad strategy into a set of clear, interconnected priorities that can align disparate government agencies and private partners toward a single, compelling North Star: a more prosperous and dynamic future for Indiana.

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No past cycles

Mission & Vision SWOT Analysis OKR Plan Retrospective AI Strategy Data Acquisition

To foster Hoosier potential by becoming the Midwest's premier state for innovation, opportunity, and quality of life.

BECOME TALENT MAGNET

Make Indiana the top choice for skilled workers and families.

RECRUIT: Attract 20,000 net new skilled tech and life sciences workers through targeted marketing campaigns.
RETAIN: Increase the post-graduation retention rate of STEM graduates from Indiana universities by 15%.
DEVELOP: Partner with industry to launch 5 new sector-focused apprenticeship programs with 2,500 grads.
UPSKILL: Enroll 50,000 current Hoosier workers in state-backed short-term credentialing programs.

LEAD THE FUTURE

Dominate the next generation of high-tech industries.

INVESTMENT: Secure $20 billion in new private capital investment commitments in semiconductor and life sciences.
STARTUPS: Double the amount of early-stage venture capital invested in Indiana-based technology startups.
RESEARCH: Increase federally funded research grants to Indiana universities by 25% in strategic sectors.
COMMERCIALIZE: Launch a new fund to help spin out 30 new high-potential companies from university-developed IP.

BUILD VIBRANT PLACES

Create communities where people are excited to live and work.

HOUSING: Facilitate the construction of 10,000 new workforce housing units in high-demand regions.
CONNECTIVITY: Achieve 98% statewide broadband coverage with minimum speeds of 100/20 Mbps for all Hoosiers.
AMENITIES: Deploy READI 2.0 funds to complete 50 new quality-of-place projects like trails and parks.
CHILDCARE: Increase the availability of affordable, high-quality childcare slots by 15,000 statewide.

SHAPE THE NARRATIVE

Define Indiana's image as a global innovation leader.

REACH: Generate 1 billion positive media impressions in top national and international business publications.
RANKINGS: Improve Indiana's ranking by at least 5 spots in 3 major 'Best States for Business' annual reports.
ENGAGEMENT: Host 10 international trade and investment delegations in Indiana focused on key tech sectors.
AMBASSADORS: Launch a 'Hoosier Homecoming' program to engage 5,000 influential alumni living out of state.

METRICS

Per Capita Personal Income Growth: 4.5% Annually
Net Population In-migration: +25,000 People Annually
GDP Growth: 3.5% Annually

VALUES

Fiscal Integrity
Innovation
Community
Hoosier Hospitality
Long-Term Vision

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State of Indiana Retrospective

AI-Powered Insights

Claude

Gemini

GPT

Indiana Economic Development Corporation (IEDC) reports and press releases.
State of Indiana FY2024-2025 Biennial Budget documents.
U.S. Bureau of Economic Analysis (BEA) and Bureau of Labor Statistics (BLS).
Recent articles from Indianapolis Business Journal and other news outlets.
Official state government websites (in.gov).

State of Ohio State of Michigan State of Illinois State of Kentucky State of Tennessee

No past cycles

Mission & Vision SWOT Analysis OKR Plan Retrospective AI Strategy Data Acquisition

To foster Hoosier potential by becoming the Midwest's premier state for innovation, opportunity, and quality of life.

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What Went Well

INVESTMENT: Secured massive LEAP district investments from Lilly and others.
JOBS: Maintained a low unemployment rate, consistently below national average.
LEGISLATION: Passed key economic development legislation like READI 2.0.
SPORTS: Successfully hosted major events like the NBA All-Star Game.
BUDGET: Maintained fiscal discipline and a strong multi-billion dollar surplus.

Not So Well

POPULATION: Experienced slower population growth compared to sunbelt competitors.
EDUCATION: Faced ongoing challenges in K-12 funding and teacher retention.
HEALTHCARE: High hospital costs and poor health outcomes remain a major concern.
HOUSING: Lack of affordable workforce housing emerged as a growth barrier.
CHILDCARE: High cost and low availability of childcare hurts workforce.

Learnings

MEGADEALS: Big, bold investments are required to move the economic needle.
QUALITY-OF-LIFE: Economic development is now inseparable from quality of life.
COLLABORATION: Public-private partnerships are essential for complex projects.
TALENT: Economic strategy must be people-centric, not just company-centric.
NARRATIVE: The story a state tells about itself matters immensely in attraction.

Action Items

TALENT: Launch marketing campaign targeting skilled workers in high-cost states.
HOUSING: Create a state-level fund to support local housing initiatives.
CHILDCARE: Develop public-private solutions to expand affordable childcare.
HEALTH: Pilot new public health programs in targeted communities to bend curve.
READI: Expedite the allocation and deployment of READI 2.0 grant funds.

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Organization	SWOT Analysis	OKR Plan	Top 6	Retrospective

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State of Indiana Market

AI-Powered Insights

Claude

Gemini

GPT

Indiana Economic Development Corporation (IEDC) reports and press releases.
State of Indiana FY2024-2025 Biennial Budget documents.
U.S. Bureau of Economic Analysis (BEA) and Bureau of Labor Statistics (BLS).
Recent articles from Indianapolis Business Journal and other news outlets.
Official state government websites (in.gov).

Founded: 1816
Market Share: $420B GSP, approx. 1.7% of U.S. GSP
Customer Base: 6.8 million residents and 175,000+ businesses
Category:
State Government
SIC Code: 9199 Administration of General Economic Programs
NAICS Code: 921190 Other General Government Support
Location: Indianapolis, Indiana
Zip Code: 46204
Congressional District: IN-7 INDIANAPOLIS
Employees: 30100

Competitors

State of Ohio View Analysis

State of Michigan View Analysis

State of Illinois View Analysis

State of Kentucky View Analysis

State of Tennessee View Analysis

Products & Services

No products or services data available

Distribution Channels

State of Indiana Business Model Analysis

AI-Powered Insights

Claude

Gemini

GPT

Indiana Economic Development Corporation (IEDC) reports and press releases.
State of Indiana FY2024-2025 Biennial Budget documents.
U.S. Bureau of Economic Analysis (BEA) and Bureau of Labor Statistics (BLS).
Recent articles from Indianapolis Business Journal and other news outlets.
Official state government websites (in.gov).

Problem

Businesses need stable, low-cost growth.
Residents seek opportunity & quality of life.

Solution

Pro-business tax & regulatory environment.
Investments in education, safety, community.

Key Metrics

Per Capita Personal Income Growth
Net Population In-migration
GDP Growth, Private Sector Job Growth

Unique

AAA credit, balanced budget, 'Crossroads'.
Deep manufacturing & life sciences expertise.

Advantage

Central location and logistics supremacy.
Fiscal capacity for large-scale investment.

Channels

IEDC (business attraction/retention)
State agencies, local EDOs, tourism ads

Customer Segments

High-growth industries (life sci, tech)
Skilled workers, families, entrepreneurs

Costs

Education, healthcare, infrastructure spend
Public safety, gov't administration costs

State of Indiana Product Market Fit Analysis

Updated: October 3, 2025

The State of Indiana offers a unique platform for growth, combining elite fiscal stability and a low cost-of-doing-business with a strategic focus on building the economies of the future. It provides access to a dedicated workforce and world-class logistics, backed by a government that actively partners with industry to ensure long-term, innovative success for businesses and residents alike.

Accelerate growth with unmatched fiscal stability and low costs.

Access a dedicated workforce and a top-tier logistics network.

Partner with a state committed to innovation and your long-term success.

Before State

Brain drain of top university graduates
Stagnant wages and lagging income growth
Over-reliance on traditional industries

After State

A net importer of skilled, diverse talent
High-wage jobs in future-proof sectors
A globally recognized innovation hub

Negative Impacts

Eroding tax base and limited dynamism
Lower quality of life and opportunities
Vulnerability to economic downturns

Positive Outcomes

Increased per capita income and prosperity
Vibrant communities attracting families
Sustainable, long-term economic growth

Key Metrics

Customer Retention Rates - 98.2% (Annual Resident Retention)

Net Promoter Score (NPS) - N/A; Citizen satisfaction surveys vary

User Growth Rate - 0.3% Population Growth (2023)

Customer Feedback/Reviews - N/A

Repeat Purchase Rates) - N/A (Business expansions vs new locations)

Requirements

Strategic investments in quality of place
World-class talent development programs
Aggressive pursuit of high-tech industry

Why State of Indiana

Deploying READI 2.0 funds for amenities
Scaling modern youth apprenticeship models
Landing megadeals in chips & life science

State of Indiana Competitive Advantage

Fiscal capacity to make bold investments
Strong university and corporate partners
Central location for new supply chains

Proof Points

$50B+ investment pipeline in LEAP district
Top-ranked business climate by multiple sources
AAA credit rating ensures financial firepower

State of Indiana Market Positioning

AI-Powered Insights

Claude

Gemini

GPT

Indiana Economic Development Corporation (IEDC) reports and press releases.
State of Indiana FY2024-2025 Biennial Budget documents.
U.S. Bureau of Economic Analysis (BEA) and Bureau of Labor Statistics (BLS).
Recent articles from Indianapolis Business Journal and other news outlets.
Official state government websites (in.gov).

Strategic pillars derived from our vision-focused SWOT analysis

INNOVATION HUB

Dominate future economies: life sciences, chips.

TALENT MAGNET

Attract & retain the world's best and brightest.

VIBRANT COMMUNITIES

Foster quality of place to make Indiana a home.

FUTURE-PROOF INFRASTRUCTURE

Build next-gen digital & physical nets.

What You Do

Provides a stable, pro-growth platform for business and residents.

Target Market

Businesses seeking low costs and talent seeking high quality of life.

Differentiation

Fiscal stability (AAA rating), central location, and manufacturing prowess.

Revenue Streams

Income Tax
Sales Tax
Corporate Tax
Property Tax
Federal Funding

State of Indiana Operations and Technology

AI-Powered Insights

Claude

Gemini

GPT

Indiana Economic Development Corporation (IEDC) reports and press releases.
State of Indiana FY2024-2025 Biennial Budget documents.
U.S. Bureau of Economic Analysis (BEA) and Bureau of Labor Statistics (BLS).
Recent articles from Indianapolis Business Journal and other news outlets.
Official state government websites (in.gov).

Company Operations

Organizational Structure: Executive, Legislative, and Judicial branches with various agencies.
Supply Chain: Manages procurement for state agencies and infrastructure projects.
Tech Patents: N/A; funds research at state universities leading to patents.
Website: https://www.in.gov/

Top Clients

Board Members

N/A (Governed by elected officials and appointed cabinet members)

State of Indiana Competitive Forces

Threat of New Entry

LOW: The 'market' of being a U.S. state is fixed; no new entrants. The threat is other states innovating their models faster.

Supplier Power

MEDIUM: Federal government as a 'supplier' of funding holds significant power. Labor unions and key industry suppliers also have influence.

Buyer Power

HIGH: Businesses ('buyers' of location) are mobile and can choose from many states, forcing competition on incentives, talent, and costs.

Threat of Substitution

HIGH: Remote work allows talent to 'substitute' living in Indiana with another low-cost state while working for a coastal company.

Competitive Rivalry

HIGH: Intense rivalry with states like OH, TN, MI for corporate relocations and talent, using aggressive tax incentives and marketing.

Analysis of AI Strategy

Updated: October 3, 2025 • 2025-Q4 Analysis

The State of Indiana AI SWOT Analysis underscores a powerful, latent advantage: its world-class industrial data. This is the raw material for leadership in the AI era. Strengths in academia and industry provide the intellectual horsepower, but a severe AI talent shortage and a lagging startup ecosystem are critical vulnerabilities. The state's strategic imperative is to transform its data advantage into economic reality. This requires a two-pronged approach: first, a massive public-private push to cultivate and attract AI talent. Second, creating the fertile ground for an AI startup ecosystem to flourish, focused on applying AI to Indiana's core sectors of manufacturing, agriculture, and life sciences. Failing to act decisively risks allowing other states to capitalize on the AI revolution, potentially automating Indiana's traditional jobs without creating the high-wage AI jobs of the future to replace them.

State of Ohio State of Michigan State of Illinois State of Kentucky State of Tennessee

No past cycles

Mission & Vision SWOT Analysis OKR Plan Retrospective AI Strategy Data Acquisition

To foster Hoosier potential by becoming the Midwest's premier state for innovation, opportunity, and quality of life.

Strengths

DATA: Rich, proprietary datasets in manufacturing, ag, and life sciences.
INDUSTRY: Major corporations (Lilly, Cummins) are sophisticated AI adopters.
ACADEMIA: Purdue and IU have strong AI/CS programs and research centers.
CLOUD: Proximity to major data centers in the Midwest for compute power.

Weaknesses

TALENT: Acute shortage of AI/ML engineers and data scientists statewide.
STARTUPS: Very few native AI-first startups to build a vibrant ecosystem.
ADOPTION: Slow AI adoption among small and medium-sized businesses (SMBs).
GOVERNMENT: State government's own use of AI for efficiency is nascent.

Opportunities

MANUFACTURING: AI for predictive maintenance and supply chain optimization.
AGRICULTURE: AI-driven precision farming to boost yields and sustainability.
HEALTHCARE: AI to accelerate drug discovery and personalize patient care.
LOGISTICS: AI to optimize routing, warehousing, and freight management.

Threats

DISPLACEMENT: AI-driven automation could displace traditional mfg. jobs.
COMPETITION: Other states creating dedicated AI institutes and funding.
ETHICS: Lack of clear ethical guidelines for AI use could slow adoption.
SECURITY: Increased cybersecurity risks from AI-powered attacks.

Key Priorities

WORKFORCE: Launch a statewide AI talent development and attraction initiative.
ADOPTION: Create programs to accelerate AI adoption in key SMB sectors.
ECOSYSTEM: Foster an AI startup ecosystem through funding and incubators.
GOVERNANCE: Establish a public-private AI task force for ethics & policy.

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State of Indiana Financial Performance

AI-Powered Insights

Claude

Gemini

GPT

Indiana Economic Development Corporation (IEDC) reports and press releases.
State of Indiana FY2024-2025 Biennial Budget documents.
U.S. Bureau of Economic Analysis (BEA) and Bureau of Labor Statistics (BLS).
Recent articles from Indianapolis Business Journal and other news outlets.
Official state government websites (in.gov).

Profit: $2.9 Billion Budget Surplus (as of FY23)

Market Cap: N/A

Stock Performance

Annual Report: State of Indiana Comprehensive Annual Financial Report (CAFR)

Debt: $23.5 Billion (State and Local, 2023)

ROI Impact: AAA credit rating from all three agencies lowers borrowing costs.

SWOT Index

Composite strategic assessment with 10-year outlook

/ 100

Market Challenger

ICM Index

STRATEGIC ADVISOR ASSESSMENT

Indiana's high ambition is tempered by significant execution risk, reflected in its Achievability score. While fiscal strength is a major asset, deep-seated weaknesses in talent and health create a balanced SWOT profile. The OKRs are solid but focus more on catching up than on truly world-shaping leaps. The state's potential is significant, but realizing it requires flawlessly executing a challenging transformation from a traditional industrial economy to a modern, talent-driven one.

SWOT Factors

Upside: 74.0 Risk: 78.0

OKR Impact

AI Leverage

Top 3 Strategic Levers

Solve the skilled talent gap through retention and attraction.

Accelerate high-wage job growth in future-proof sectors.

Dramatically improve public health and quality-of-place metrics.

AI Disclosure

This report was created using the Alignment Method—our proprietary process for guiding AI to reveal how it interprets your business and industry. These insights are for informational purposes only and do not constitute financial, legal, tax, or investment advice.

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