What Tanking Stocks and a Bad Jobs Report Could Mean for Indiana Businesses

Source: PHOTO: Ingram Publishing/Thinkstock

STATEWIDE–With stocks tanking and the July jobs report showing an increase in unemployment, Indiana business owners say they are concerned about the possibility of a recession.

“We’ve seen major investments from a number of big name companies in Indiana. How might those decisions and plans be affected? It’s too early to tell right now,” said Gerry Dick, president and CEO of Inside Indiana Business, in a Monday morning interview with WIBC’s Tony Katz.

Dick says he’s spoken to several Hoosier business owners who he says won’t make rash decisions, but this is “top of mind to be sure.”

“There was certainly that concern that had been out there which had eased the last several months, but now those recession fears are back. We’ll have to see how it all plays out,” said Dick.

That’s why Dick says if you have a 401k, it’s best if you don’t look at it for the time being.

Big Ten Basketball tournaments are also returning to Indianapolis on both the men’s and women’s side over the next three years, but Dick says Indianapolis is now facing more competition with four new schools coming into the Big Ten.

“In 2028, Las Vegas is hosting it. Who would have that Las Vegas would be hosting a Big Ten Championship? But that’s the reality because so many other markets are competing for these events. There’s Detroit, Chicago, and Madison Square Garden, so there’s lots of competition. Indianapolis continues to do very well though,” said Dick.

He isn’t surprised that Indianapolis is on the radar of so many entities.

“No one does it better in terms of hosting events than Indianapolis. From the setup to the volunteers in downtown Indianapolis and the city continues to get rewarded,” said Dick.