The Republic
DESPITE growing concerns about a possible national recession - fed in great part by an unexpected spike in unemployment statistics for the month of December - Bartholomew County and its neighbors appear on the threshold of an economic boom that will affect all income levels.
To date, the county has been extremely successful in job creation and maintenance. The latest unemployment number - 3.13 percent - is only half jokingly referred to as the "lowest in the millennium," a record that has to be conditioned on the fact that we are only seven years into this millennium.
Still, it is a significant statistic when compared with national averages and past down periods in local history when unemployment sometimes was registered in double digits.
While the current statistics are reason for optimism, there are even more promising developments for this area on the horizon.
Activation of the Honda plant in Greensburg and attainment of its full 2,000-person labor force could transform the region.
Closer to home, work is progressing on the retooling of the Cummins Inc. Plant One, which when completed will add hundreds of jobs to the local payroll.
More recently, officials at LHP Inc. reported plans to expand operations at its site in the InfoTech park and create 320 high-tech jobs by 2011.
Local officials also are anticipating an announcement in the coming weeks of an office complex in the downtown that could add between 200 and 500 high-paying jobs.
Most of the positions available through these developments are in the mid- to highincome range and will require specific skills.
However, opportunities will abound for less skilled workers.
As noted in The Republic recently, the city is experiencing a hotel boom with four hostelries expected to open in the area over the coming months.
Those businesses will create dozens of clerical, maintenance and domestic positions.
With the promise that these developments hold for the community, it is important to not overlook the potential effect the national economy could have locally.
Just as booms produce ripple effects, so do downturns. We are living in a global economy where slippage in one economic sector can spread to others.
A downturn in truck sales for one manufacturer could reduce the size of orders for diesel engines, for instance.
Another ironic concern is that Bartholomew County's low unemployment rate could make it less attractive for business investors who seek a large labor force from which to choose their workers.
That certainly doesn't seem to have deterred the most recent investors such as Honda, LHP and Cummins, but it does underline local efforts to improve and expand educational systems so that the available labor force includes more skilled workers.
On the other hand, the growth in these businesses could bring new residents to the community. That's already been demonstrated as a handful of executives who will be managing the Honda plant in Greensburg have already established residence in Bartholomew County.
There is always the possibility that any deterioration in the national and global economies will spill into this community but, for now, the future for this area looks extremely promising.