Today, advanced manufacturing is responsible for nearly 30 percent of our state’s gross regional product and nearly 20 percent of the workforce, making it Indiana’s largest and most intensive industry sector. Hoosier prosperity depends on our ability to make and deliver the products of today and tomorrow; therefore, it is imperative that Indiana seizes the unique opportunities presented by an era of manufacturing renaissance.
The Healthcare Dilemma
The enormity of the healthcare market contains multitudes: it is the economy’s largest sector and source of jobs. Its doctors, nurses, and technologists produce marvels of healing and life extension. It also is the most voracious consumer of government spending and, by some measures, America’s least productive industry. These very inefficiencies, however, point toward massive opportunities: healthcare may be the most exciting target for a techno-entrepreneurial transformation, led by AI, molecular medicine, and a revolution of personalized care and financing to counter today’s model of bloat.
Advanced Innovation for People, Plants, Animals, and Our Planet
Scientific ingenuity, hard work, and collaboration comprise the fabric of Indiana’s workforce. These foundational characteristics position our state as a leader in human life sciences and agbiosciences. But maintaining and expanding our position will require fearless leadership and financial commitments that create world-class training and education – including visionary state-of-the-art facilities. Now is the time to take action and cultivate a sustainable workforce for Hoosier companies focused on delivering the innovations that heal and feed the world.
CULTURE:
Entrepreneurship and Capital Formation
Indiana has momentum in building its innovative entrepreneurial ecosystem; however, it also has significant opportunity for improvement. Telling data points illustrate the reality that Indiana’s innovation ecosystem will demand greater attention and investment to realize its full potential. This chapter’s authors explain how Indiana can unlock the full potential of its talent and become a leader in the 21st century economy as the “Innovation Capital of the World.”
Employers as Educators
As we look to the future, Indiana stands poised to further excel in emerging technologies such as microchip manufacturing, energy development and transmission, and artificial intelligence. However, amid this success, a critical challenge looms large: human capital. Like many states, Indiana grapples with the daunting task of fully harnessing its workforce potential. In this chapter, the authors share a vision for a workforce system that strategically integrates employer signaling about workforce needs and enables a more active role for employers in education and learning.
Where, How and Why People Work
Let’s fast forward to 2040 and consider the trends and challenges Indiana will face – through the lens of generations of workers and the technological advances transforming workplaces. How do we build a workforce culture that better meets employees’ expectations and employers’ needs? How do we skill and reskill people so they are prepared for work and economic advancement? The answer to these and other questions can ensure growth opportunities for the future, personal prosperity, and a stronger Indiana economy.