ICYMI: Economist Phil Powell Talks Johnson County Productivity at August Aspire EDAC Meeting
On August 21st Johnson County business and community leaders gathered at the new common area at Central Nine Career Center for an Aspire Economic Development Advisory Council meeting. The highlight of the meeting was a presentation on Johnson County’s economic growth and potential by Kelley School of Business economist Phil Powell.
“The theme was really about productivity,” said Amanda Rubadue, Vice President of Economic Development at Aspire. “Indiana’s productivity growth is higher than the U.S. average, and productivity equals prosperity. The discussion was about how we can plan for prosperity and not miss the boat.”
Powell started his presentation with a national overview of the economy which by recent indicators seems to be headed in a positive direction. Although the economy has slowed, Powell shared that unemployment remains low at 4.3% and growth through the first half of the year is solid.
“Powell reported that our GDP (Gross Domestic Product, i.e. total economic output) in Johnson County had grown 18% from 2017 to 2022,” said Rubadue. “He also said to be prepared for companies that are going to grow in the next three to four years.”
Rubadue said Powell’s focus during the presentation was on the potential for growth in traded industries or industries that do business outside of the county.
“Powell explained that they trade with suppliers and provide goods and services outside of the county,” said Rubadue. “That’s what really drives economic growth.”
Rubadue said the audience of private and public stakeholders were very engaged in Powell’s presentation.
“We always get really good feedback when Phil Powell speaks. I’ve already heard people in the community that I’ve met with quote him,” said Rubadue.
Specific to Johnson County, Powell made several recommendations to the EDAC group.
Powell called on municipal leaders and representatives along with business leaders to work collectively to determine who they want to attract to live and work in Johnson County, and find a way to differentiate itself from surrounding counties. Powell advised being uniquely Johnson County in this area.
“We (Aspire) have really focused on marketing to life sciences and have been wanting to attract life sciences companies, and he touched on the ‘human capital’ piece that drives the industry,” said Rubadue. “With our efforts focusing on the workforce pipeline, I think we are right in line with pushing for the human capital those life sciences companies need.”
Powell recommended creating geographically focused areas that attract industries with a higher economic value, or “innovation districts”. Powell also included housing needs and residential zoning to grow the local talent ecosystem.
Rubadue found Powell’s analysis of Johnson County to be in line with Aspire’s school-to-work efforts including working with employers via Career Discovery Meetings and support for more housing options in community-wide initiatives like the recently-created Johnson County Housing Coalition.
“Diverse housing options are another driver of talent,” said Rubadue. “I think that is another thing Johnson County is on the right track with attracting these companies and creating the type of ecosystem that we are looking for.”