After experiencing solid gains throughout most of 2014, the Indianapolis unemployment rate saw an uptick in January.

1. Industrial real estate implications
Industrial employment trends (12-month change) | Indianapolis
Source: Bureau of Labor Statistics, JLL Research
Job growth/loss by sector (12-month change) | IndianapolisTotal non-farm employment within the Indianapolis MSA now stands at
approximately one million jobs. All of the major industrial sectors have
experienced job growth year-over-year with Trade, Transportation and Utilities
leading the way, adding almost 10,000 jobs from the prior year.
Industrial tenant demand is starting to lead to the leasing of several speculative
buildings that have recently been completed. Ozburn-Hessey Logistics signed a
deal to lease the entire 450,000 square feet available at 2450 Stanley Road, a
speculative facility completed at the end of 2012. Meanwhile, The Harvard Drug
Group and Sunrise Medical have both signed on to lease space at a recently
completed midsize warehouse building in the North by Northwest Business
Park. Finally, Plainfield One was completed during the first quarter with half the
space pre-leased to SWS.
Total jobs vs. Unemployment rate | Indianapolis
6.2%
Indianapolis unemployment
2.9%
Indianapolis 12-month job growth
5.5%
U.S. unemployment
2.3%
U.S. 12-month job growth
Number of jobs
• After experiencing solid gains throughout most of 2014, the
Indianapolis unemployment rate saw an uptick in January as did many
major metros as the Bureau of Labor Statistics revised previous
releases on job growth data.
• Still, this increase in metro unemployment may be more attributed to
workforce dynamics than the economy especially with the elimination
of seasonal holiday employment. In fact, the local unemployment rate
is up only 20 basis points since January 2014.
• Total U.S. nonfarm employment increased by 126,000 jobs in March,
the lowest level since March 2013 and well below economist forecasts
of 244,000 jobs. Downward revisions were also made to the January
and February figures, totaling 69,000 jobs.
• U.S. unemployment was unchanged at 5.5 percent and wage growth
remained sluggish as average hourly earnings increased only 2.1
percent year-over-year, far below the Fed’s goal of 3.5 percent or
better.
Industrial Employment Update
Metro Indianapolis | April 2015
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
500,000
550,000
600,000
650,000
700,000
750,000
800,000
850,000
900,000
950,000
1,000,000
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Total Employment Unemployment
1.8%
Peak: 960,944 jobs
-10.0
-5.0
0.0
5.0
10.0
15.0
20.0
2010
2011
2012
2013
2014
2015
Mining, Logging & Construction Trade, Transportation & Utilities
Manufacturing Other Services
200
800
1,400
1,900
2,000
2,200
2,500
3,300
3,500
9,800
0 2,000 4,000 6,000 8,000 10,000 12,000
Information
Mining and Logging
Other Services
Leisure & Hospitality
Educational & Health Services
Government
Financial Activities
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.
January 2013 January 2014 January 2015
Total non-farm
employment
943,700
1.9%
962,400
2.0%
990,000
2.9%
Unemployment rate 8.8% 6.0% 6.2%
Indianapolis supersectors January 2013 January 2014 January 2015
Mining, Logging & Construction 40,000 0.0% 40,200 0.5% 41,000 2.0%
Manufacturing 87,100 2.4% 87,500 0.5% 90,800 3.8%
Trade, Transportation, & Utilities 201,300 2.3% 205,700 2.2% 215,500 4.8%
Information 16,400 3.8% 16,600 1.2% 16,800 1.2%
Financial Activities 59,700 -0.5% 59,800 0.2% 62,300 4.2%
Professional & Business
Services
138,200 4.9% 148,200 7.2% 151,700 2.4%
Educational & Health Services 141,200 2.2% 141,500 0.2% 143,500 1.4%
Leisure & Hospitality 93,800 3.1% 93,800 0.0% 95,700 2.0%
Other Services 41,100 2.5% 42,600 3.6% 44,000 3.3%
Government 124,900 -1.9% 126,500 1.3% 128,700 1.7%
News on the street | Indianapolis businesses expanding, contracting, etc.
Employment statistics | Indianapolis Industry employment stratification | Indianapolis
OMR North America, Inc. │ Manufacturing: Expanding
OMR North America, Inc., an auto parts manufacturer, plans to invest $15 million into a new facility located on the west side of Indianapolis in Speedway. As part of
this investment, OMR intends to hire at least 60 employees.
Opflex Technologies, LLC. │ Manufacturing: Relocating
Opflex Technologies, LLC., a foam manufacturer, plans to invest $2 million to relocate operations from New York to Indiana. The Indianapolis location will be on the
east side of the city in the Western Select industrial complex. Opflex plans to bring nearly 50 jobs to the Hoosier state over the next five years.
Logical Concepts, Inc. │ Manufacturing: Expanding
Logical Concepts, Inc., a wireless monitoring and control device manufacturer, recently unveiled plans to relocate from Greenwood to Indianapolis. Logical Concepts
will purchase, renovate and equip a vacant 18,000 square-foot building on the south side of Indianapolis. The move will allow the company to add approximately 25
jobs by 2019. Logical Concepts currently employs 17 employees, all of which are expected to be part of the relocation process.
Amazon.com, Inc. │ E-commerce: Expanding
Amazon.com, Inc. (NASDAQ: AMZN) plans to fill as many as 700 full-time positions immediately at its AllPoints at Anson fulfillment center in Whitestown. The
company, which currently operates multiple fulfillment centers around Indianapolis, needs to add workers in order to keep up with customer demand.
Raytheon Company │ Manufacturing: Expanding
Raytheon Company, a defense and aerospace manufacturer, will move roughly 250 positions to Indianapolis from plants in California and Virginia. Raytheon is
consolidating operations into its East 21st Street plant in order to improve efficiency and competitiveness.
B&B Manufacturing │ Manufacturing: Expanding
B&B Manufacturing is expanding in La Porte, Indiana. The company will invest more than $5 million to build and equip an 80,000 square-foot facility to replace its
current 30,000 square-foot facility. The new space will enable the company to expand its workforce from 70 employees to over 100 employees by 2024. B&B
manufactures timing belt pulleys and roller chain sprockets among others.
Vera Bradley │ Retailer: Contracting
Fort Wayne-based Vera Bradley (NASDAQ: VRA) will close its New Haven, IN factory next month. The move will impact 250 employees as the jobs will be
outsourced to facilities overseas.
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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
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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, 215,500, 22%
Professional and
Business Services,
151,700, 15%
Educational and Health
Services, 143,500, 15%
Government, 128,700,
13%
Leisure and Hospitality,
95,700, 10%
Manufacturing, 90,800,
9%
Financial Activities,
62,300, 6%
Other Services, 44,000,
4%
Mining, Logging and
construction, 41,000, 4% Information, 16,800, 2%