The City of Evansville is getting some good news when it comes to its economy.
According to a new analysis from the Indiana Business Review, the year 2022 maybe even more prosperous than the year 2021.
Dr. Mohammed Khayum of the University of Southern Indiana conducted the study that is being presented here.
Evansville, according to him, is one of the most “manufacturing-dependent metro regions” in the United States. According to his study, it is having a positive impact on the local economy.
Evansville Mayor Lloyd Winnecke acknowledges that, two years after the coronavirus epidemic began, it might be difficult to see economic prosperity.
The information in this piece, on the other hand, implies that the city is doing just that.
As Dr. Khayum points out, the unemployment rate in Evansville has decreased since 2010, which has coincided with an increase in the number of jobs available.
According to the statistics, community partners such as Toyota and Berry Global have played a significant role in this.
“They are the ones who drive,” Mayor Winnecke explains. “They are the ultimate motivators. ” Consequently, when a Toyota or a Berry Global commits multi-million dollar expenditures, it demonstrates, first and foremost, the trust that those leaders have in our region’s capacity to attract qualified workers. It also expresses confidence in the direction our area is heading in terms of the economy.”
More investment, in the words of Mayor Winnecke, translates into more jobs.
According to Mayor Winnecke, “many may be shocked to learn that the manufacturing industry employs more than 15 percent of the workers in the Evansville region.” “Wow, that’s a significant amount of money.”
More jobs translate into more money in the pockets of Hoosiers in Southwest Indiana and the surrounding areas. In fact, according to Dr. Khayum’s research, as much as 6.5 percent more money could be earned.
In the words of Mayor Winnecke, “whether it’s how many people are in the workforce, what their wages and benefits look like, or just the overall picture.”
Dr. Khayum’s research also suggests that Evansville could see an increase of 4,700 jobs by 2022, according to his findings.
Mayor Winnecke claims that it takes a team to accomplish this.
“It’s not a single individual or a small group of individuals,” Mayor Winnecke asserts. “It’s a collaborative effort,” says the author. It is the business community that is to blame. It’s the world of non-profits. Every individual’s contribution is critical at this time, especially in light of the current circumstances.”
However, as Mayor Winnecke pointed out, this type of success does not happen overnight. He claims that these objectives are part of a plan known as “Talent 2025′′, which aims to increase the city’s population while also improving its workforce readiness over time.