BIER Committee Presentation to University Senate - April 23, 2012

The presentation discusses various economic aspects such as income growth, spending cuts, and challenges faced by Indiana due to slow economic growth. It also highlights the impact of post-secondary education in the state.

• Committee
• Presentation
• Economic Aspects
• Income Growth
• Indiana

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Presentation Transcript

1. BIER Committee Presentation to University Senate April 23, 2012

2. Up 6% since 2000 Up 6% since 2000 Down 32% since 2000 Down 32% since 2000 Payment Delays (Repaid in 2008 Payment Delays (Repaid in 2008- -09) Spending cuts Below appropriations Spending cuts Below appropriations 09)

3. State Personal Income Growth, 1999-2007 New Hampshire Washington Maine Vermont Montana North Dakota Minnesota Oregon Massachusetts Idaho New York Wisconsin South Dakota Wyoming Michigan Rhode Island Pennsylvania Iowa Connecticut Nebraska Ohio New Jersey Nevada Indiana Utah Illinois California Colorado West Virginia Delaware Virginia Kansas Missouri Kentucky Maryland North Carolina Tennessee Oklahoma Arizona New Mexico Arkansas South Carolina Georgia Percent Income Growth 0 to 45 Alabama Mississippi Texas Louisiana 45 to 60 Alaska 60 to 100 Florida Hawaii

9. Slow growing economy restrains revenue Two recessions and two slow recoveries since 1998 Decline of manufacturing employment due to shift of jobs overseas and (especially) productivity growth Indiana responds with spending restraint, not tax increases Medicaid costs take up more of the budget Higher medical costs and more beneficiaries Larger share of higher education appropriation goes to Ivy Tech Importance of post-secondary education due to decline in manufacturing employment Larger share of higher education appropriation goes to State Student Assistance Commission Tuition aid goes to students instead of institutions