Comprehensive Regional Plan - Northwestern Indiana Regional ...

CURRENT CONDITIONS AND NEEDS
To properly analyze our economic conditions and outlook,
we must understand the economic “base” of Northwest
Indiana. For more than 100 years, our region has been a
prime location for manufacturing, and this economic legacy
has afforded our residents a solid quality of life and security.
Over the years, however, this sector has lost ground to other
areas such as government, health care and retail tourism.
Even so, manufacturing continues to be the leading sector
in our regional economy in terms of jobs. The challenge for
our future resides in our region’s ability to balance these
jobs with those required to compete in an ever-changing
global economy.
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Northwest Indiana’s position as the eastern gateway
to the global city of Chicago and our historic role as a
transportation and freight corridor offer an abundance of
possibilities to expand our quality job base.
Economic Trends and Employment
Historically, much of the economy of Northwest Indiana
was built on the steel industry. Although a leader for much
of the last century, restructuring in the industry has meant
fewer jobs, reduced tax revenue and environmental cleanup
challenges. The loss of jobs in a once-dominant industry
corresponded with a rise in those living below the poverty
level, with Lake County having a rate well above the national
average. Our region needs to continue to position itself as
prime location for economic development opportunities
that provide for the creation and retention of quality jobs.
Job creation itself is difficult to predict. Many factors
influence job growth in an area, such as governmental
policies and civic amenities. Taken together, Northwest
Indiana has plenty of reasons to be optimistic about future
job growth.