Indiana Business & Employment Growth Since 2009

  • 8,150 more businesses
  • 346,647 more employees
  • 12.8% increase in total wages
  • $9,318 increase in annual wages per employee
  • 24.3% increase in wages per employee

Since 2009, the number of businesses in Indiana has grown by 5.1% (6.3% less than the national average of 11.4%). Employment in Indiana has grown by 12.8% (0.8% less than the national average of 13.6%). Wages have grown by 24.3% since the end of the Great Recession. This wage growth is 1.4% less than the national average of 25.7%.
The average weekly wage in Indiana of $915 is 20.3% below the national average of $1,101. The gap between the national average has widened from 19.0% a widening of 1.3% since the end of the recession.

Sector Growth

Business Sector Growth

The Retail trade sector has the most businesses in the state of Indiana. Since the end of the recession, the number of businesses has decreased from 20,683 to 20,475, a reduction of 1.0%. The table below illustrates the change in number of businesses in each sector.
Sector20182009Pct Chg
Retail trade20,47520,683-1.0%
Professional services18,89915,80219.6%
Construction15,25016,586-8.1%
Wholesale trade14,00513,9590.3%
Healthcare13,81812,5869.8%
Accommodation and food services13,33312,01611.0%
Other services13,17513,183-0.1%
Finance and insurance10,0959,9951.0%
Waste services9,7278,45415.1%
Manufacturing8,8458,962-1.3%
Real estate and rental6,4905,88310.3%
Transport and warehousing5,8685,3988.7%
Arts and entertainment2,2852,04211.9%
Information2,1332,244-4.9%
Educational services1,9171,54224.3%
Agriculture and forestry1,8991,38936.7%
Company management1,29695735.4%
Utilities4724446.3%
Mining and oil extraction325335-3.0%

The sector that has had the strongest growth [in number of businesses] is the Professional services sector, which has increased by 19.6% since 2009. The sector that has has the largest decline is the Construction sector, which has declined by 8.1% since the recession.

Employment Sector Growth

The Manufacturing sector has the most employees in the state of Indiana. Since the end of the recession, the number of employees has grown from 441,623 to 541,773, a gain of 22.7%. The table below illustrates the change in number of employees in each sector.
Sector20182009Pct Chg
Manufacturing541,773441,62322.7%
Healthcare408,536343,40419.0%
Retail trade321,155308,0494.3%
Accommodation and food services267,797233,71414.6%
Waste services189,400139,44335.8%
Construction141,006120,33017.2%
Transport and warehousing135,390102,84131.6%
Wholesale trade120,681115,2614.7%
Professional services119,23595,23425.2%
Finance and insurance97,73194,8803.0%
Other services87,89580,3449.4%
Educational services50,94146,00910.7%
Arts and entertainment42,60542,962-0.8%
Real estate and rental35,86632,8689.1%
Company management34,33027,51824.8%
Information29,37137,635-22.0%
Agriculture and forestry15,29312,44922.8%
Utilities13,92915,329-9.1%
Mining and oil extraction5,9436,291-5.5%

The sector that has had the strongest employment growth [in number of employees] is the Manufacturing sector, which has increased by 22.7% since 2009. The sector that has has the largest employment decline in number of employees is the Information sector, which has declined by 22.0% since the recession.

Weekly Wage Growth By Sector

The Company management sector has the highest average weekly wage in the state of Indiana. Since the end of the recession, the average wage has grown from $1,388 to $1,923, a gain of 38.5%. The table below illustrates the change in weekly wage in each sector.
Sector20182009Pct Chg
Company management$1,923$1,3880.0%
Utilities$1,860$1,4100.0%
Finance and insurance$1,390$1,0030.0%
Mining and oil extraction$1,355$1,1120.0%
Professional services$1,340$1,0270.0%
Wholesale trade$1,317$1,0000.0%
Manufacturing$1,205$1,0070.0%
Information$1,161$9200.0%
Construction$1,123$9050.0%
Healthcare$934$7590.0%
Transport and warehousing$892$7270.0%
Real estate and rental$879$6330.0%
Educational services$775$6400.0%
Agriculture and forestry$771$5800.0%
Arts and entertainment$649$5440.0%
Waste services$635$5120.0%
Other services$632$4920.0%
Retail trade$539$4400.0%
Accommodation and food services$320$2480.0%

The sector that has had the strongest wage growth is the Unclassified sector, which has increased by 0.0% since 2009. The sector that has has the smallest wage growth is the Accommodation and food services sector, which has declined by 0.0% since the recession.


Industry Growth

Business Industry Growth

The Restaurants and other eating places industry has the greatest number of businesses in the state of Indiana. This industry currently has 10,430 businesses in it. There is no direct comparison to the total at the end of recession and is not included in the table below.

Industry20182009Pct Chg
Computer systems design and related services4,5222,7890.0%
Wholesale trade agents and brokers3,4632,7740.0%
Management consulting services3,4202,4050.0%
Residential building construction3,3973,8910.0%
Insurance agencies and brokerages3,2553,0060.0%
Offices of physicians2,5343,0700.0%

The top industry that has had the largest increase in the number of businesses is the Computer systems design and related services industry, which has increased by 0.0% since 2009. The top industry that has has the largest decline in the number of businesses is the Offices of physicians industry, which has declined by 0.0% since the recession.

Employment Industry Growth

The Restaurants and other eating places industry has the greatest number of employees in the state of Indiana. This industry currently has 223,542 employees in it. There is no direct comparison back to the total at the end of the recession and is not included in the table below.

Industry20182009Pct Chg
General medical and surgical hospitals114,765101,6630.0%
Temporary help services83,20042,3520.0%
Offices of physicians54,17746,4420.0%
Nursing care facilities skilled nursing46,99746,3070.0%
Motor vehicle body and trailer manufacturing43,84620,1410.0%

The top industry that has had the largest increase in the number of employees is the Temporary help services industry, which has increased by 0.0% since 2009. The top industry that has has the largest decline in the number of employees is the Nursing care facilities skilled nursing industry, which has declined by 0.0% since the recession.

Weekly Wage Growth By Industry

The Investment banking and securities dealing industry has the highest average weekly wage in the state of Indiana. Since the end of the recession, the average wage has grown from $2,407 to $3,423, a gain of 42.2%. The table below illustrates the change in weekly wage in each sector.
Industry20182009Pct Chg
Investment banking and securities dealing$3,423$2,4070.0%
Pharmaceutical and medicine manufacturing$2,966$2,1760.0%
Spectator sports$2,485$1,3460.0%
Securities brokerage$2,430$1,5080.0%
Research and development in the physical engineering and life sciences$2,417$1,4280.0%

The top industry that has had the strongest wage growth is the Spectator sports industry, which has increased by 0.0% since 2009. The top industry that has has the largest wage decline is the Pharmaceutical and medicine manufacturing industry, which has declined by 0.0% since the recession.


Company Size

Business Growth By Company Size

The biggest percentage change in the number of businesses has been in businesses with 500 to 999 employees. The number of businesses with this number of employees has grown from 208 to 291, which is an increase of 39.9%.

The smallest percentage change in the number of businesses has been in businesses with 5 to 9 employees. The number of businesses with this number of employees has grown from 27,786 to 28,346, which is an increase of 2.0%.

Table: Change in the number of Businesses by Size of Business, since the Recession:

Company SizeQ1 2018Q1 2010% Change
Fewer than 5 Employees88,39485,1823.8%
5-9 Employees28,34627,7862.0%
10-19 Employees20,34918,8218.1%
20-49 Employees14,94612,49019.7%
50-99 Employees5,1214,45015.1%
100-249 Employees2,9782,56316.2%
250-499 Employees74366711.4%
500-999 Employees29120839.9%
More Than 1,000 Employees13912313.0%


Employment Growth by Company Size

The biggest percentage change in the number of employees has been in businesses with 500 to 999 employees. The number of employees in companies this size has grown from 139,672 to 198,620, which is an increase of 42.2%.

The smallest percentage change in the number of employees has been in businesses with 5 to 9 employees. The number of employees with this number of employees has grown from 182,277 to 185,995, which is an increase of 2.0%.

Table: Change in the number of Employees by Size of Business, since the Recession:

Company SizeQ1 2018Q1 2010% Change
Fewer than 5 Employees138,598130,7336.0%
5-9 Employees185,995182,2772.0%
10-19 Employees271,838252,0197.9%
20-49 Employees443,865370,80219.7%
50-99 Employees349,819301,12316.2%
100-249 Employees445,811373,25919.4%
250-499 Employees251,487228,64110.0%
500-999 Employees198,620139,67242.2%
More Than 1,000 Employees319,227250,88827.2%


Weekly Wage Growth by Company Size

The biggest percentage change in the average weekly wage has been in businesses with 500 to 999 employees. The average weekly wage in companies this size has grown from $861 to $1,233, which is an increase of 43.2%.

The smallest percentage change in the average weekly wage has been in businesses with 1,000 or more employees. The average weekly wage in companies this size has grown from $1,262 to $1,555, which is an increase of 23.2%.

Table: Change Average Weekly Wage by Size Since the Recession:

Company SizeQ1 2018Q1 2010% Change
Fewer than 5 Employees$941$69435.6%
5-9 Employees$765$57832.4%
10-19 Employees$752$57830.1%
20-49 Employees$770$61225.8%
50-99 Employees$834$64130.1%
100-249 Employees$899$70827.0%
250-499 Employees$1,022$80926.3%
500-999 Employees$1,233$86143.2%
More Than 1,000 Employees$1,555$1,26223.2%



Data Sources




About the Writer

This page was created and is maintained by Kurt Tietjen, Founder of Stavera, High Peak Media & HomeGearWorks.com. Kurt is an executive, data scientist and software engineer who holds an MBA in Management Information Systems. In 2010, he partnered with scientists at Northwestern University to launch The Street Wire. This was one of the first mainstream uses of what would become “Narrative Science”, an artificial intelligence platform specializing in natural language generation. You can contact Kurt on LinkedIn here.