New CEO for Indiana Association
of REALTORS®

Karl Berron was named new Chief Executive Officer for the IAR. Karl has been with IAR since 1989, previously serving as VP of Government Relations.  He has served as chief industry spokesman with the state legislature, administration, media, and regulatory agencies.  Karl successfully advocated for industry legislation in the areas of property taxation, licensing, transactional issues, and economic development.  He served as legislative aid to Lt. Governor John Mutz and has served on the board of the Indiana Fiscal Policy Institute, Indiana Legal Foundation.  Here are more of his accomplishments:

• He was named to the Indiana Business Journal’s “Who’s Who in Residential Real Estate”
• Named a Sagamore of the Wabash by Governor Bob Orr
• Past President of the Governmental Affairs Society of Indiana
• Has a BS in Business Economics & Public Policy from Indiana University
• Holds a Master Degree in Public Finance from Indiana University

Welcome, Karl!

The Impact of Real Estate
on the Indiana Economy

This is a report on the contribution of real estate and the real estate industry to the economy of the state of Indiana. The vital and unique role that real estate plays in our economic well-being, quality of life, and the support of vital public services is frequently neglected or taken for granted in public policy debate. Ad­dressing that neglect is the purpose of this report.

We find that the output of the real estate sector – defined as the flow of services from land, structures, and the services of the real estate industry – accounts for nearly 9 cents of every dollar of goods and services produced by the entire state economy. This is a larger share of the economic pie than every other sector except manufacturing and government.

Major findings of this report include:

• Real estate is the third most important sector in the Indiana economy.  At $17.4 billion annually (based on 2003 data), real estate contributes 8.6% of the state’s total economic output. Only the manufacturing and govern­ment sectors contribute more to Indiana’s gross state product.
• >Real estate directly employed almost 85,700 Hoosiers in 2003, with an additional 60,700 jobs supported elsewhere in the economy by real estate activity.>
• The real estate sector paid more than $772 million in employee compensation in Indiana in 2003, with an additional $1.1 billion paid to state workers in other industries as a result of real estate activity.
• Owners of Indiana’s real estate (land and structures) paid more than  $4.2 billion in property taxes in 2005 to support public education and all levels of local governments (counties, cities and towns, townships, libraries, etc.).

To view the remainder of this report in greater detail, click on the following web address:

http://www.indianarealtors.com/pdf/
impact_re_indiana_economy.pdf

Source:  Indianarealtors.com

<--- PREVIOUS       NEXT --->

Printable Verson in Word format