s eptember 1925 | w here we b egan bureau of business research (later the indiana business research...

SEPTEMBER 1925 | WHERE WE BEGAN• Bureau of Business Research (later the Indiana Business

Research Center) established by Indiana University

• Purpose: conduct research that’s valuable to the business leaders of the state

Indiana Business Research Center Celebrating 90 Years

ALSO BORN IN 1925


Margaret Thatcher Robert Kennedy William Buckley Jr.Malcom X Johnny Carson

Richard Burton Merv Griffin Yogi Berra Dick Van Dyke B.B. King

OTHER HAPPENINGS IN 1925


F. Scott Fitzgerald publishes The Great Gatsby.

Calvin Coolidge is 1st U.S. President to broadcast his inauguration via radio.

Mount Rushmore National Monument Commission authorized by Congress.

90 YEAR ROLLER COASTER: 15 RECESSIONS


EVEN MORE HAPPENINGS IN 1925Sears Roebuck opens first retail store in Chicago after 40 years of catalog sales.

The Chrysler Corporation is founded by Walter Percy Chrysler.

Ben Hur and Phantom of the Opera were popular films.


A DOLLAR WENT FARTHER IN 1925

Loaf of bread $0.09

One pound of coffee $0.50

Porterhouse steak $0.20 /lb

Postage stamp $0.02

Gasoline $0.22 /gal

Top-line camera $5.00

Average car $290

Average home $7,890

Average income $1,324


IBRC ISSUES ITS FIRST STUDY IN 1925

• “Manufactures in Indiana,” by Director Lionel Edie

• Published as Indiana Business Studies, No. 1, in 1925

• Indiana Business Studies appeared periodically until 1970


Edie

INDIANA BUSINESS REVIEW• 1926: First IBR

• 1936: First IBR forecast

• 1956: IBR adds Business Horizons supplement

• 2002: IBR available online


IBR CONTINUES TRADITION: A GREAT SOURCE FOR HOOSIER DECISION MAKERS


THE BUSINESS OUTLOOK PANEL COVERING INDIANA FOR 42 YEARS

Tim Slaper, Ellen Cutter, Jerry

Conover and Chuck Trzcinka, 2013

Photo by Chad Ryan, The Journal Gazette, Fort Wayne, IN 2013


http://www.journalgazette.net/article/20131114/BIZ/311149942

1926: INDIANA’S FIRST GENERAL BUSINESS INDEX

Produced monthly for the State of Indiana, based on:• Kilowatt hours of electricity consumed

• Tons of pig iron production

• Square feet of new building contracts

• Cubic feet of building stone mined

• Tons of coal mined


1960: FIRST TO HAVE A COMPUTER

IBRC (the Bureau) had a computer before any other department in the school.


IBM Vax IIS Cloud

IBRC Director Schuyler Otteson

OCTOBER 1970

Bureau renamed the Division of Research to more accurately reflect its roles:• Collect data from numerous sources

• Manage & share data with other users

• Analyze the data to generate useful insights for Hoosiers


IBRC Director Jack Wentworth

1972: INDIRS IS CREATED(INDIANA INFORMATION RETRIEVAL SYSTEM)

• Provided data to state agencies

• Access terminals in 16 Indiana public libraries

• INDIRS spinoff: the Economic Development Information System (EDIS), created for the Indiana Economic Development Council


POPULATION & REVENUE PROJECTIONS SINCE THE ’70S

• 1973: Projected revenues & expenditures for the State

• 1976: Projected population through the year 2000 for Indiana’s 92 counties.

• 1979: Population projections for all 1008 townships


SHARING IBRC INSIGHTS WITH GOV. BOWEN


1981: ECONOMETRIC MODELING

• The Indiana General Business Index charted past trends• The Econometric Model of Indiana forecasted the future of

the Indiana economy

Model devised by• Dick Pfister (Director 1971-1975)• Morton Marcus (Acting Co-Director in 1981)• Jeff Green (economics professor)


Pfister Marcus

1985: IU TRUSTEES ESTABLISH IBRC

• 60 years to the month after the Bureau of Business Research began studying Indiana’s economy…

–Dissolved the Division of Research, creating the Indiana Business Research Center

–Morton Marcus appointed IBRC’s first director


IBRC STAFF WITH GOV. BAYH, ~1995


2009: THE LEADING INDEX FOR INDIANA

IBRC created 1st Leading Index of Indiana’s economy1. Identified the key sectors driving Indiana's economic growth 2. Found measures that predict movements in these sectors3. Determined relative weights for these indicators4. Result: the Leading Index for

Indiana


2014: THE INDIANA ECONOMIC DIGEST HAD NEARLY 300,000 VISITORS


850,000+ PAGE VIEWS YEARLY BY HUNDREDS OF THOUSANDS OF USERS


HOOSIERS BY THE NUMBERS:MORE TOOLS AND USERS THAN EVER


JOIN THE NEARLY 88,000 PEOPLE READING INCONTEXT


2.7 MILLION+ PAGE VIEWS IN 2014


IBRC DATA FOR THE ENTIRE NATION


CEMR: ECONOMIC FORECASTS FOR INDIANA, ITS MAJOR CITIES & THE U.S.


DATA + GOV’T + UNIVERSITY = INSIGHT!


2015: POWERED BY IBRC


FORECASTING INDIANA’S ECONOMY

Business Outlook Panel on tour around the state.

Every. Single. Year.


90 YEARS OF IBRC LEADERSHIP

1925-1927: Lionel D. Edie1927-1954: George W. Starr1950-1951: Arthur E. Warner acting director (Starr on sabbatical)1954-1960: Schuyler F. Otteson1960-1971: Jack Wentworth1971-1975: Richard L. Pfister1975-1985: Morton J. Marcus and H. Donald David co-direct1985-2003: Morton J. Marcus2003-present:Jerry Conover


90TH ANNIVERSARY RECEPTION


“The Kelley School is proud to have the IBRC as one of our centers," said Idalene “Idie” Kesner, dean of the Kelley School. "It is a trusted and valuable source of information and research, including benchmark, impact and efficiency studies. Its work is top-notch and strengthens the relationship between Indiana University and the state.”

Jerry Conover, IBRC Director

Phil Cochran, Executive Associate Dean, Kelley School of Business - Indianapolis

Tom Guevara, Deputy Assistant Secretary for Regional Affairs, U.S. Economic Development Administration

SEPTEMBER 2025: SAVE THE DATE!

Join usto celebrate

IBRC’sCentennial!

s eptember 1925 | w here we b egan bureau of business research (later the indiana business research...

Documents

indiana business studies

business leaders

state of indiana

indiana economic

division of research

business outlook panel

general business indexproduced

indiana university purpose