Northwest Indiana
Four counties in the northwest corner of the state (Lake, Porter, Jasper and Newton) form the Gary Metropolitan Division.* As of 2023, the region had a population of 723,428.
* Metropolitan statistical areas are defined by the U.S. Office of Management and Budget. Highly populated MSAs (in this case, the Chicago region) can be subdivided into smaller metropolitan divisions. The OMB released new statistical area delineations in 2023, which changed the name of the Gary, IN Division to Lake County-Porter County-Jasper County, IN Division; however, the new definitions will not be reflected here until the U.S. Bureau of Labor Statistics implements these changes into their data.Quick Stats
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The Northwest Futurecast Event
Friday, Nov. 15, 2024
Doors open at 11:30am (CST) and lunch will be served at 12pm.
Avalon Manor Banquet Center
3550 E Lincoln Hwy,
Merrillville, IN 46410
Is Closed »
Featured Speakers at the Northwest Indiana Futurecast Event
Friday, Nov. 15, 2024
Join us to discuss how the changing economic environment will affect the local region, Indiana and the nation in the coming year.
Registration is Closed »This event is co-hosted by The Legacy Foundation, the IU Northwest School of Business and Economics, the IBRC and the Kelley School of Business.
What did we say last year about Northwest Indiana?
Published December 2023
Between 2017 and 2022, the population in Northwest Indiana has grown 2.9% (or 0.58% per year) and this growth is forecasted to continue in the coming years. The reversal of this out-migration trend can be attributed primarily to two factors. First, Northwest Indiana has become a stronger economic environment for both workers and firms. Second, Northwest Indiana has made significant investments in quality of place, which are starting to pay dividends in attracting and retaining workers and their families to the region.
While the labor force participation rate in the region has yet to return fully to pre-pandemic levels, we will need more than these workers returning to the labor market to fill vacancies. As with the “brain drain” challenge, attracting more workers, and particularly young, educated and skilled workers, to Northwest Indiana will help alleviate pressure on the tight labor market and give firms a stronger pool of workers. For 2024, we can expect labor market conditions to remain tight with historically low unemployment rates (between 4.5% and 5.5%).
Read the full Gary article »
Each year in December, the Indiana Business Research Center publishes a special Outlook edition of the Indiana Business Review.
Published continuously since 1926, the Indiana Business Review is a quarterly publication that provides analysis and insight on economic and demographic issues.