Indianapolis unemployment decreased this month, contracting by 10 basis points to 5.3 percent.

1. Office real estate implications
Office employment trends (12-month change) | Indianapolis
Source: Bureau of Labor Statistics, JLL Research
Job growth/loss by sector (12-month change) | IndianapolisIndianapolis is driven by a diverse range of office-using tenants, highlighted by
professional and business services, high-tech, healthcare and law firms. The
office market continues to experience new development. River North at
Keystone is the latest example. This Class A office building, to be located in the
Keystone submarket, is a joint venture between PK Partners and the Gene B.
Glick Company. The building will serve as the headquarters for both firms. In
addition, River North will offer approximately 100,0000 square feet for lease.
The addition of this speculative space comes on the heels of Two Concourse, a
speculative Class A suburban office building, being completed in 2014.
Tenant demand is expected to continue throughout 2015. The Indiana
Economic Development Corporation secured commitments from approximately
300 companies last year to either open or expand operations in the state and
create more than 25,000 jobs in future years. These jobs will ultimately lead to a
need for additional office space in the not-too-distant future.
Total jobs vs. Unemployment rate | Indianapolis
5.3%
Indianapolis unemployment
2.7%
Indianapolis 12-month job growth
5.5%
U.S. unemployment
2.4%
U.S. 12-month job growth
Number of jobs
• Local unemployment decreased this month, contracting by 10 basis
points to 5.3 percent. This tightening comes after consecutive months
of upticks as unemployed workers resumed their job search with the
improved local fundamentals. Indeed, Indianapolis job growth is up 2.7
percent compared to this time last year.
• Still, the reduction in metro unemployment may be more attributed to
workforce dynamics than the economy especially as more Boomers
are opting to officially retire or transition to part time work.
• Total U.S. nonfarm employment increased by 295,000 jobs in
February, topping consensus forecasts of 235,000 jobs. The private
sector has added 12.0 million jobs over 60 straight months of job
growth, extending the longest streak on record.
• Meanwhile, U.S. unemployment decreased 20 basis points to 5.5
percent, its lowest rate in seven years. One area of continued
apprehension among economists is wage growth, which remained
unchained at 2.0 percent year-over-year in the latest BLS report. In a
healthy economy, annualized wage gains are typically between 3.5
and 4.0 percent.
Office Employment Update
Metro Indianapolis | March 2015
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
14.0%
720,000
740,000
760,000
780,000
800,000
820,000
840,000
860,000
880,000
900,000
920,000
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Total Employment Unemployment
1.8%
Peak: 909,563 jobs
-8.0
-3.0
2.0
7.0
12.0
2010 2011 2012 2013 2014
Financial Activities Professional and Business Services Information Government
-300
-100
600
600
1,900
2,600
3,000
4,100
6,100
7,000
-1,000 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000
Educational & Health Services
Information
Other Services
Government
Financial Activities
Leisure & Hospitality
Mining and Logging
Manufacturing
Professional & Business Services
Trade, Transportation & Utilities

2. © 2015 Jones Lang LaSalle IP, Inc.
All rights reserved. All information
contained herein is from sources
deemed reliable; however, no
representation or warranty is made
to the accuracy thereof.
December 2012 December 2013 December 2014
Total non-farm
employment
932,300
2.2%
948,700
1.8%
974,200
2.7%
Unemployment rate 7.5% 5.7% 5.3%
Indianapolis supersectors December 2012 December 2013 December 2014
Mining, Logging & Construction 41,900 1.2% 42,500 1.4% 45,500 7.1%
Manufacturing 82,800 2.0% 84,000 1.4% 88,100 4.9%
Trade, Transportation, & Utilities 201,700 3.1% 205,700 2.0% 212,700 3.4%
Information 15,800 6.0% 16,100 1.9% 16,000 -0.6%
Financial Activities 58,700 -0.3% 60,600 3.2% 62,500 3.1%
Professional & Business
Services
140,700 3.7% 145,700 3.6% 151,800 4.2%
Educational & Health Services 137,200 2.1% 137,500 0.2% 137,200 -0.2%
Leisure & Hospitality 92,000 4.2% 94,100 2.3% 96,700 2.8%
Other Services 39,300 2.9% 39,800 1.3% 40,400 1.5%
Government 122,200 -0.8% 122,700 0.4% 123,300 0.5%
News on the street | Indianapolis businesses expanding, contracting, etc.
Employment statistics | Indianapolis Industry employment stratification | Indianapolis
enVista, LLC.. │ Consulting: Expanding
enVista, LLC., a supply chain and IT consulting firm founded in 2002, is expanding its Carmel headquarters. The company plans to hire an additional 30 workers this
year. enVista currently employs 135 workers in Carmel.
Stratice Healthcare, LLC. │ Healthcare: Expanding
Locally-based, Stratice Healthcare, LLC. recently unveiled plans to expand its Carmel headquarters. The company plans to lease an additional 2,000 square feet at
Carmel City Center by the end of this year and hire more than 40 employees over the next three years. The expansion is needed to accommodate the company’s e-
prescribing platform.
Healthx, Inc. │ Healthcare: Expanding
Indianapolis-based Healthx, Inc. plans to add approximately 35 jobs over the next four years at its Precedent Park headquarters. Healthx currently employs 70
workers in Indianapolis.
Perscio, LLC.│ Data analysis: Expanding
Perscio, LLC., a locally-based data analysis firm, recently announced significant expansion plans. Perscio, founded just last year, plans to hire roughly 50
employees over the next five years at its 9247 North Meridian Street headquarters.
Blue Sky Technology │ Consulting: Expanding
Blue Sky Technology, a Noblesville-based e-commerce consulting company, is in discussions with to build a new 40,000 square foot facility in Noblesville. Blue Sky
plans to employ roughly 60 employees at its current headquarters by the end of this year. The company anticipates hiring an additional 15 employees in 2016
prompting the need for a new headquarters.
Geofeedia │ High-tech: Expanding
Geofeedia, a social media monitoring company based out of Chicago, continues its rapid growth. The company, which was founded in 2011, recently opened an
office in downtown Indianapolis to go along with its Chicago headquarters. Geofeedia now expects to hire 50 full-time employees between the two locations by the
end of the year.
AT&T│ Telecommunications: Expanding
AT&T (NYSE: T) will hire around 40 new employees at its Evansville location. This comes on the heels of the company hiring more than 700 workers in Indiana last
year, 40 percent of which took place in Evansville. This growth was made necessary by AT&T’s recent investment in its wireless and wireline networks in Indiana, a
nearly $2 billion investment.
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Chicago, IL 60601
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Indianapolis, IN 46240
www.jll.com/indianapolis
For more information, please contact:
Robert Kramp
Senior Vice President – Americas
Midwest Research Director
tel +1 312 228 2470
Robert.Kramp@am.jll.com
Mike Cagna
Senior Research Analyst
tel +1 317 810 7358
Mike.Cagna@am.jll.com
Trade, transportation and
Utilities, 212,700, 22%
Professional and
Business Services,
151,800, 15%
Educational and Health
Services, 137,200, 14%
Government, 123,300,
13%
Leisure and Hospitality,
96,700, 10%
Manufacturing, 88,100,
9%
Financial Activities,
62,500, 6%
Mining, Logging and
construction, 45,500, 5%
Other Services, 40,400,
4%
Information, 16,000, 2%