State Senator Mike Bohacek recently put out information showing the strong economy in Indiana.  He said, “Thanks to years of fiscally conservative leadership, Indiana remains one of the most economically competitive states in the nation.”

Some of the points the senator shared were that Indiana set a new state record for business investment in 2023, with over $28.7 billion in committed investments representing 21,866 new jobs.  He also said that Indiana has the third-lowest cost of living and the fifth-lowest cost of doing business in the nation. Finally, he highlighted Indiana as the number 1 tax climate in the Midwest and the 10th best in the U.S.

In addition,Senator Bohacek said, “Thanks to a new law I supported,the state’s income tax rate fell from 3.15% to 3.05% on Jan. 1, and it is scheduled to keep falling until it reaches 2.9% in 2027.” 

In closing Bohacek said, “Senate Republicans plan to identify more ways to improve our state’s impressive financial standing. Through the State and Local Tax Review Task Force, which met last week, lawmakers continue working to identify and consider long-term, big-picture ways to make our tax system and economy work better for Hoosiers.”

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