Economy of Indianapolis

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The economy of Indianapolis is centered on the City of Indianapolis and Marion County within the context of the larger Indianapolis metropolitan area. The Indianapolis–Carmel–Anderson, IN MSA, had a gross domestic product (GDP) of $134 billion in 2015. The top five industries were: finance, insurance, real estate, rental, and leasing ($30.7B), manufacturing ($30.1B), professional and business services ($14.3B), educational services, health care, and social assistance ($10.8B), and wholesale trade ($8.1B). Government, if it had been a private industry, would have ranked fifth, generating $10.2 billion.[1]

Downtown Indianapolis, the city's central business district, is the largest employment cluster in Indiana, with nearly 43,000 jobs per square mile (17,000/km2).[2]

Compared to Indiana as a whole, the Indianapolis metropolitan area has a lower proportion of manufacturing jobs and a higher concentration of jobs in wholesale trade; administrative, support, and waste management; professional, scientific, and technical services; and transportation and warehousing.[3] The city's major exports include pharmaceuticals, motor vehicle parts, medical equipment and supplies, engine and power equipment, and aircraft products and parts.[4] According to the Bureau of Labor Statistics, the region's unemployment rate was 2.8 percent in May 2019.[5]

In 2021, the Indianapolis metropolitan area was home to three Fortune 500 companies and six Fortune 1000 companies.[6] The largest public companies based in the area were insurance company Elevance Health, pharmaceutical company Eli Lilly and Company, agrochemical company Corteva, real estate investment trust Simon Property Group, pharmaceutical (animal health) company Elanco, financial services company CNO Financial Group, specialty chemicals company Calumet, Inc., automotive components manufacturer Allison Transmission, and automotive remarketing company OpenLane.[7] Private companies based in the area include financial services company OneAmerica Financial, agricultural cooperative CountryMark, and regional airline Republic Airways Holdings.[8]

  1. ^ "Gross domestic product (GDP) by metropolitan area". U.S. Bureau of Economic Analysis (BEA). Retrieved July 13, 2017.
  2. ^ Klacik, Drew (September 2013). "Why Downtown Indianapolis Matters" (PDF). Indiana University Public Policy Institute. Archived from the original (PDF) on September 3, 2017. Retrieved July 21, 2017.
  3. ^ "The Indianapolis Metro Area" (PDF). Archived from the original (PDF) on July 1, 2010. Retrieved July 1, 2010.
  4. ^ "Metro Indianapolis Export Plan" (PDF). Indy Chamber. Archived from the original (PDF) on October 22, 2016. Retrieved August 16, 2016.
  5. ^ "Economy at a Glance". U.S. Department of Labor Bureau of Labor Statistics. Retrieved August 18, 2018.
  6. ^ "Fortune 500". Fortune. Retrieved May 29, 2023.
  7. ^ "Largest Indiana Public Companies". IBJ Media. Retrieved May 29, 2023.
  8. ^ "Largest Indiana Private Companies". IBJ Media. Retrieved May 29, 2023.