Leading Issues

Indiana State Revenue Forecast Summary

On May 27, a new revenue forecast was presented at the behest of the State Budget Committee (in millions).

                                                                       FY 2009          FY 2010          FY 2011

Total Forecast Revenue                             $12,932          $13,144        $13,660

Total Year over Year Change                           -150                  212        517

Year over Year % Change                                -1.1%                 1.6%           3.9%

Due to the continued deterioration of the economy, the May update further reduced base revenue projections from the levels forecast in April by nearly $1.1 billion over three years as follows:

                                                                        FY 2009          FY 2010          FY 2011

Additional Revenue Reduction                      $444                $332               $316

Continual monthly tax revenue reductions severely compounds the state's fiscal woes and increases the challenge that the State will face as it executes the recently passed biennium budget.

Indiana Innovation Alliance

The Indiana Innovation Alliance joins together the efforts of academia, business, and government to strengthen Indiana’s assets in biosciences and life sciences.