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Indiana exports hit record, but growth slows

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Indiana exports rose to a record $34.4 billion in 2012 while growing at a rate exceeding the Midwest’s and the nation’s.

Indiana exports grew by 6.6 percent in 2012, up from $32.2 billion in 2011, said Indiana University's Kelley School of Business, which released its annual export report Thursday. The report was produced by the Indiana Business Research Center.

Midwestern exports increased by 6.1 percent. The national rate of growth was 4.4 percent.

Despite the record amount, the rate of export growth has fallen off dramatically both in Indiana and nationally.

Exports from Indiana grew 25.6 percent in 2010 and 12.3 percent in 2011. The nation experienced growth rates of  21 percent in 2010 and 15.8 percent in 2011.

"Indiana recovered quickly from the adverse effects of the Great Recession, but the economic turmoil of the eurozone countries and slow recovery worldwide reduced the acceleration in exports," wrote Tanya Hall, an economic research analyst at the research center and co-author of the report.

Canada remains the largest market for Indiana, receiving more than 35 percent, or $11.9 billion, of Indiana’s exports. Mexico ranks second at $3.9 billion, or about 12 percent.

The state’s top export was vehicles and parts ($7.9 billion), followed by pharmaceutical products ($6 billion) and industrial machinery ($5.5 billion).
 

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  1. PJ - Mall operators like Simon, and most developers/ land owners, establish individual legal entities for each property to avoid having a problem location sink the ship, or simply structure the note to exclude anything but the property acting as collateral. Usually both. The big banks that lend are big boys that know the risks and aren't mad at Simon for forking over the deed and walking away.

  2. Do any of the East side residence think that Macy, JC Penny's and the other national tenants would have letft the mall if they were making money?? I have read several post about how Simon neglected the property but it sounds like the Eastsiders stopped shopping at the mall even when it was full with all of the national retailers that you want to come back to the mall. I used to work at the Dick's at Washington Square and I know for a fact it's the worst performing Dick's in the Indianapolis market. You better start shopping there before it closes also.

  3. How can any company that has the cash and other assets be allowed to simply foreclose and not pay the debt? Simon, pay the debt and sell the property yourself. Don't just stiff the bank with the loan and require them to find a buyer.

  4. If you only knew....

  5. The proposal is structured in such a way that a private company (who has competitors in the marketplace) has struck a deal to get "financing" through utility ratepayers via IPL. Competitors to BlueIndy are at disadvantage now. The story isn't "how green can we be" but how creative "financing" through captive ratepayers benefits a company whose proposal should sink or float in the competitive marketplace without customer funding. If it was a great idea there would be financing available. IBJ needs to be doing a story on the utility ratemaking piece of this (which is pretty complicated) but instead it suggests that folks are whining about paying for being green.

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