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IU releases new report on Indiana’s economic connections with world and EU

September 30, 2011

In collaboration with the European Union Center, the Indiana Business Research Center (which is part of the Indiana University Kelley School of Business) recently released a Global Positioning: Indiana’s Exports and Foreign Direct Investment (the press release is available here).  The report shows that Indiana is actually a very internationally connected state, as it has one of the highest exports-to-GDP ratios of any Midwestern state and almost 25 percent of all Hoosier manufacturing jobs are devoted to exports.  In addition, Indiana is the leading state in exporting pharmaceuticals, having exported more than $4.5 billion in 2010.  Not surprisingly, Western Europe is the main destination for these goods, with Germany, the UK, and Spain are the top three locations for Hoosier produced pharmaceuticals.

While the IBRC publishes reports on trade and investment almost annually, this year’s book included a chapter on “Region IN Focus:  The European Union.”  While this blog has often reported on the importance of European trade to Indiana (see Indiana’s Exports to the EU Reach New Record and Indiana Exports to Wide Range of EU Countries), this report provides an in-depth analysis.  For instance, while Indiana exported $7.705 billion to the 27 member states of the EU in 2010, including $4.59 billion in chemicals, we now know that $2.4 billion (or 52% of this total) were pharmaceuticals and $1.1 billion (23%) are organic chemicals.

Since Indiana has such strong economic ties with Europe, the IU European Union Center will be offering a webinar on “Maximizing Your Business Development Trip to Europe” on Tuesday, October 18th from noon to 1:00PM Eastern Time.  This webinar will be led by Courtney Zaugg, who has led numerous Indiana trade delegations to Europe.  The webinar is free and open to the public, but you must register by clicking here.

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