The Buy Indiana Program is a crucial initiative by the State of Indiana designed to bolster the state's economy by prioritizing local businesses in government procurement. It is a strategic effort to ensure that state spending directly supports Indiana-based companies, fostering job creation and economic growth within the community.
Purpose and Goals
Established by Executive Order 05-05, the Buy Indiana initiative sets a clear and ambitious objective for state agencies. The primary goal is to procure 90 cents ($.90) of each dollar from Indiana businesses. This directive underscores the state's commitment to investing in its own economic infrastructure and workforce.
Key aspects of its purpose include:
- Economic Development: By directing state funds to local enterprises, the program stimulates the Indiana economy, encouraging businesses to grow and thrive.
- Job Creation: Supporting Indiana businesses often leads to increased employment opportunities for residents, contributing to a stronger job market.
- Local Investment: It ensures that taxpayer dollars circulate within the state, generating tax revenue that can be reinvested in public services and infrastructure.
- Support for Small Businesses: The program particularly benefits small and medium-sized Indiana businesses, giving them a competitive edge in securing government contracts.
How the Program Works
The Buy Indiana Program primarily influences the purchasing decisions of state agencies. These agencies are mandated to prioritize qualified Indiana businesses when acquiring goods and services. This involves:
- Vendor Preference: Giving preference to bids and proposals from Indiana-based companies during the procurement process.
- Goal Setting: Actively working to meet the 90-cent per dollar spending goal with Indiana businesses for all eligible procurements.
- Supplier Resource Center: The Indiana Department of Administration (IDOA) provides resources and guidance to both state agencies and Indiana businesses, facilitating participation in the program.
Benefits and Impact
The impact of the Buy Indiana Program extends beyond simple financial transactions, creating a ripple effect throughout the state.
| Feature | Description |
|---|---|
| Established By | Executive Order 05-05, a formal directive from the Governor's office. |
| Core Goal | State agencies aim to spend 90 cents ($.90) of every dollar on goods and services from businesses located within Indiana. |
| Beneficiaries | Indiana Businesses: Increased contract opportunities and revenue. Indiana Residents: More local jobs and a robust economy. State Government: Efficient use of taxpayer money to benefit the state directly. |
| Objective | To foster sustainable economic growth, support local employment, and strengthen the overall economic resilience of Indiana by keeping state funds circulating within its borders. |
By actively engaging in the Buy Indiana program, state agencies help to cultivate a resilient local economy, where businesses can expand, innovate, and contribute directly to the prosperity of the Hoosier State. More information about the program and resources for suppliers can be found on the Indiana Department of Administration's official website.
