INDIANAPOLIS — The Baby Boomer generation is aging out of the workforce. Indiana is now hoping to attract and retain enough young Hoosiers so the state can thrive after Generation X retires.
A study by Matt Kinghorn of Indiana University's Business Research Center predicts Indiana's population growth will dramatically decrease by 2060. Kinghorn predicts Indiana will grow by 380,000 residents between 2020 and 2060,which is less than the growth experienced between 2000 and 2010 alone.
"As not just Indiana grows older, but as the nation as a whole grows older, there's going to be more and more competition for those young adults," Kinghorn said. "How can we position ourselves to attract as many as possible? It's going to get tougher and tougher to attract the workforce we need."
The Indiana Chamber of Commerce is seeking ways to attract that workforce.
"We have to be bold," said Adam Berry, the Indiana Chamber's vice president of economic development. "We have to think outside of the box."
Berry said Indiana stands apart from other states with its cost of living, but is concerned colleges are not doing enough to sell students on staying in the state.
"We have a very captive audience while they're here for four years," Berry said. "Let's make sure they understand they can thrive in Indiana post-graduation."
Lawrence-based engineering firm InDesign has built its workforce through recruiting recent college graduates.
"I think we've had a couple employees whose families moved here," said CEO John Sawyer. "We actually had parents move to Indiana to follow their kids who started working with us."
Sawyer started InDesign after his previous company moved its operations from Indiana to New Jersey. He believes it is more than possible to convince young people to move to Indiana and stay here.
"I completely understand the attraction of trying out a new location and seeing what's out there," Sawyer said. "Having gone through that, I know how valuable and important it is to have a home."
