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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
Indiana Business Research Center Celebrating 90 Years
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
Indiana Business Research Center Celebrating 90 Years
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.
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.
Indiana Business Research Center Celebrating 90 Years
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
Indiana Business Research Center Celebrating 90 Years
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
Indiana Business Research Center Celebrating 90 Years
Edie
INDIANA BUSINESS REVIEW• 1926: First IBR
• 1936: First IBR forecast
• 1956: IBR adds Business Horizons supplement
• 2002: IBR available online
Indiana Business Research Center Celebrating 90 Years
IBR CONTINUES TRADITION: A GREAT SOURCE FOR HOOSIER DECISION MAKERS
Indiana Business Research Center Celebrating 90 Years
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
Indiana Business Research Center Celebrating 90 Years
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
Indiana Business Research Center Celebrating 90 Years
1960: FIRST TO HAVE A COMPUTER
IBRC (the Bureau) had a computer before any other department in the school.
Indiana Business Research Center Celebrating 90 Years
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
Indiana Business Research Center Celebrating 90 Years
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
Indiana Business Research Center Celebrating 90 Years
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
Indiana Business Research Center Celebrating 90 Years
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)
Indiana Business Research Center Celebrating 90 Years
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
Indiana Business Research Center Celebrating 90 Years
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
Indiana Business Research Center Celebrating 90 Years
2014: THE INDIANA ECONOMIC DIGEST HAD NEARLY 300,000 VISITORS
Indiana Business Research Center Celebrating 90 Years
850,000+ PAGE VIEWS YEARLY BY HUNDREDS OF THOUSANDS OF USERS
Indiana Business Research Center Celebrating 90 Years
HOOSIERS BY THE NUMBERS:MORE TOOLS AND USERS THAN EVER
Indiana Business Research Center Celebrating 90 Years
JOIN THE NEARLY 88,000 PEOPLE READING INCONTEXT
Indiana Business Research Center Celebrating 90 Years
CEMR: ECONOMIC FORECASTS FOR INDIANA, ITS MAJOR CITIES & THE U.S.
Indiana Business Research Center Celebrating 90 Years
FORECASTING INDIANA’S ECONOMY
Business Outlook Panel on tour around the state.
Every. Single. Year.
Indiana Business Research Center Celebrating 90 Years
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
Indiana Business Research Center Celebrating 90 Years
90TH ANNIVERSARY RECEPTION
Indiana Business Research Center Celebrating 90 Years
“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
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