Indiana Land for Sale

Although no one is entirely sure how Indiana came by its nickname “The Hoosier State,” some etymologists point to the word’s similarity to “Hoosa,” an Indian term for corn. Indiana is the fourth largest corn producing state in the nation. Much of that traditional crop is processed into ethanol to make clean-burning fuels for our cars. Indiana Land for Sale is an investment in an economy that uses its traditions to invent a better future.

At its northwestern edge, Indiana borders on Lake Michigan; the surrounding countryside is rocky and dotted with small lakes, perfect for fishing and canoeing. Seen from above, much of central Indiana looks like a giant patchwork quilt due to the perfectly square farmland grids that stretch horizon to horizon. This is where America’s Corn Belt begins – though they grow soybeans there as well. Farther south the land begins to rise again as it becomes the Cumberland Plateau. The mighty Wabash runs through the center of the state; well into the 19th century the Wabash a major trade route, linking the manufacturing centers of central Indiana with the Great Lakes and Canada to the north and the Mississippi and the Gulf of Mexico to the south.

Indianapolis is the state capital and the largest city. Nicknamed “The Crossroads of America,” Indianapolis was a major regional transportation hub in the 19th century, and the site of the nation’s first common rail passenger terminal. It became a center of automobile manufacturing second only to Detroit. The car connection remains strong today thanks to the Indy 500 race held every Memorial Day weekend, the largest single-day sporting event in the world. Pharmaceutical giant Eli Lilly and mall developer the Simon Property Group are both headquartered in Indianapolis.

Fort Wayne is another Indiana city that lost its manufacturing base in the late 20th century. The city’s efforts to diversify its economy to include education, insurance, health care, and defense sectors led to it winning an All-America City Award from the National Civic League in 2009. Other important cities include South Bend, home of Notre Dame University; and Evansville, a designated enterprise zone that offers major tax credits to eligible businesses that relocate there.

Indiana’s weather varies according to how close you are to Lake Michigan. The “lake effect” can cause heavy snowfalls and bitterly cold temperatures in the northwest edge of the state. Summers are humid and hot – and get even hotter as you travel south. The Hoosier State is no stranger to extreme weather events like tornadoes and floods: a 1965 twister touching down in northern and central Indiana killed 137 people, while a 1982 food devastated Fort Wayne to the tune of $56 million worth of damage.

Almost 16% of Indiana’s population held factory jobs in 2008 – the largest percentage of any state. Small wonder, then, that Indiana has seen plenty of fallout from the current economic downturn. Nearly 50,000 Indiana jobs have been outsourced overseas since December, 2007. Indiana’s unemployment rate is 10.7% – significantly higher than the national rate, while personal income trails even that of the other Great Lakes states. The state’s agriculture sector – a bright spot in an otherwise grim scenario throughout 2008 and 2009 – is also looking at uncertainty as the drop in crude oil prices means that ethanol becomes less attractive as a price substitute.

Yet signs of turnaround have begun to appear. Unemployment is falling, personal income and residential building permits are rising. The state’s economy is projected to grow 2% this year. Indiana Land for Sale is a bargain right now, but prices are bound to go up as the Hoosier State’s economy strengthens – which it will!