Indiana · Economy & Workforce
Net Employer Business Formation in Indiana
Net new employer businesses as a share of existing stock; new businesses opened minus closures, scaled to state size.
1.7% in 2023
#11 of 50 · Top tier (higher is better)
Indiana is better than the 50-state median (1.0%). That's a gap of 0.7%.
View interactive chart & trend → See full 50-state ranking →
1978 – 2023 · Indiana only · interactive chart with US median overlay →
About net employer business formation
What this measures: Net change in employer businesses (births minus closures) as a share of existing stock.
Why it matters: Net formation tells you whether a state's business base is growing or shrinking, beyond just the count of new firms.
Watch out: Can hide a lot of churn. A flat net number is consistent with high entry plus high exit.
Recent trend
| Year | Indiana | US median |
|---|---|---|
| 2014 | -0.0% | 0.7% |
| 2015 | 1.2% | 0.9% |
| 2016 | 1.5% | 1.5% |
| 2017 | 0.4% | 0.1% |
| 2018 | 0.2% | 0.2% |
| 2019 | 0.8% | 0.8% |
| 2020 | -0.4% | -0.0% |
| 2021 | 0.9% | 0.8% |
| 2022 | 1.4% | 1.7% |
| 2023 | 1.7% | 1.0% |
Indiana vs. neighboring states
Same metric (net employer business formation), latest year with full state coverage. Click any name for that state's full report.
| State | Net Employer Business Formation | National rank |
|---|---|---|
| Michigan | 1.3% | #17 of 50 |
| Ohio | 0.6% | #37 of 50 |
| Kentucky | 1.2% | #20 of 50 |
| Illinois | 0.4% | #44 of 50 |
How Indiana compares (2023)
Bottom 5
| #46 | Connecticut | 0.3% |
| #47 | Minnesota | 0.3% |
| #48 | New Hampshire | 0.3% |
| #49 | Iowa | 0.2% |
| #50 | Pennsylvania | 0.1% |
Source and methodology
Source: Census Business Dynamics Statistics · Direction: higher is better · Unit: %
Download raw CSV (all 50 states, all years)