After seeing an unemployment rate spike to begin the year, the Indianapolis unemployment rate has gradually decreased and currently is 5.5%.

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) | Indianapolis
Total non-farm employment within the Indianapolis MSA now stands at more
than one million jobs. Three of the four major office sectors have experienced
job growth year-over-year with professional and business services leading the
way, adding 4,300 jobs from the prior year. The information sector is the lone
exception, experiencing flat job growth year-over-year.
During the first quarter of this year, five office sectors (healthcare, business
services, high-tech, finance and legal) accounted for more than 60 percent of
the office leasing activity. These same five sectors also account for nearly half
of the tenant requirements still actively looking for space with the Indianapolis
MSA. With local unemployment tightening, tenant demand has picked up and
deals are beginning to close at an increased rate.
Total jobs vs. Unemployment rate | Indianapolis
5.5%
Indianapolis unemployment
2.7%
Indianapolis 12-month job growth
5.4%
U.S. unemployment
2.2%
U.S. 12-month job growth
Number of jobs
• After experiencing an unemployment rate spike to begin the year, the
Indianapolis unemployment rate has gradually decreased and currently
sits at 5.5 percent according to the most recent estimates available
from the Bureau of Labor Statistics. Further, local unemployment is
down 70 basis points since the same time last year.
• Contributing to this reduction in the local unemployment rate is the
uptick in nonfarm employment. Total nonfarm employment in
Indianapolis increased by 10,300 jobs in March, representing a
sizeable increase from the previous month when job gains were a
modest 2,400.
• Total U.S. nonfarm employment increased by 223,000 jobs in April, a
healthy uptick after a disappointing March where job gains totaled just
85,000. The strong April results will help lower concerns among
economists and Wall Street of a hiring slowdown.
• U.S. unemployment decreased 10 basis points to 5.4 percent, its
lowest mark since May 2008. Wages also continued to trend in the
right direction in April, increasing 2.2 percent year-over-year.
Office Employment Update
Metro Indianapolis | May 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
Peak: 951,921 jobs
1.8%
-8.0
-3.0
2.0
7.0
12.0
2010 2011 2012 2013 2014 2015
Financial Activities Professional and Business Services Information Government
-1,000
0
100
800
1,200
2,000
3,500
3,500
4,300
11,600
-5,000 0 5,000 10,000 15,000
Mining and Logging
Information
Government
Educational & Health Services
Other Services
Financial Activities
Manufacturing
Leisure & Hospitality
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.
March 2013 March 2014 March 2015
Total non-farm
employment 958,400 1.8% 976,700 1.9%
1,002,700
2.7%
Unemployment rate 8.1% 6.2% 5.5%
Indianapolis supersectors March 2013 March 2014 March 2015
Mining, Logging & Construction 40,500 -1.5% 41,400 2.2% 40,400 -2.4%
Manufacturing 87,200 1.8% 88,100 1.0% 91,600 4.0%
Trade, Transportation, & Utilities 202,000 2.5% 205,900 1.9% 217,500 5.6%
Information 16,500 3.1% 16,800 1.8% 16,800 0.0%
Financial Activities 59,600 -0.8% 60,200 1.0% 62,200 3.3%
Professional & Business
Services
139,800 3.0% 148,100 5.9% 152,400 2.9%
Educational & Health Services 145,000 2.3% 144,800 -0.1% 145,600 0.6%
Leisure & Hospitality 96,500 1.8% 97,400 0.9% 100,900 3.6%
Other Services 42,100 3.4% 43,700 3.8% 44,900 2.7%
Government 129,200 0.2% 130,300 0.9% 130,400 0.1%
News on the street | Indianapolis businesses expanding, contracting, etc.
Employment statistics | Indianapolis Industry employment stratification | Indianapolis
AgReliant Genetics, LLC. │ Agricultural research and production: Expanding
AgReliant Genetics, LLC., a corn seed research and production company, will invest $4 million to expand its headquarters in Westfield. The expansion will provide
additional office space, a break room and meeting space. The new facility will total approximately 50,000 square feet when completed. AgReliant currently occupies
30,000 square feet. The company anticipates hiring about 30 new employees over the next two years. AgReliant currently has more than 50 employees on site.
Dattus, Inc. │ High-tech: Expanding
Dattus, Inc., a locally-based tech start-up company, recently opened an office in Indianapolis. The company is located in 2,500 square feet at One College Park after
previously being housed in the Purdue Research Park in West Lafayette. The Indianapolis office currently houses six employees, but the company is currently
looking to fill several positions and anticipates having up to 40 employees by 2020.
EnviroForensics │ Environmental engineering: Expanding
Indianapolis-based EnviroForensics, an environmental engineering firm, plans to purchase and rehab a former retail building in downtown Indianapolis into its new
headquarters. The project is expected to cost nearly $1 million and will enable the company to double its workforce from 42 employees to 84 employees during the
next five years.
Geofeedia │ High-tech: Expanding
Chicago-based Geofeedia will invest nearly $3 million to expand its presence in downtown Indianapolis. The company will lease more than 9,000 square feet in the
Circle Tower building. Geofeedia plans to grow from 20 employees to more than 300 over the next five years thanks to its popular social media analytics program.
HealthPro, LLC. │ Healthcare: Expanding
HealthPro, LLC., a spin-off of locally-based OurHealth, recently established its headquarters in Indianapolis. The company plans to invest more than $8.5 million and
create nearly 200 jobs over the next four years. HealthPro assists patients in selecting their optimal healthcare provider.
HRD Advisory Group │ Consulting: Expanding
HRD Advisory Group recently announced plans to invest upwards of $500,000 in new equipment at its 5,000-square-foot Carmel location. The consulting firm also
plans to hire an additional 25 employees over the next four years.
Lowe’s (NYSE: LOW) │ Retail: Expanding
Lowe’s recently marked the opening of its new Indianapolis call center. The home improvement retailer purchased Intech 12 on the northwest side of Indianapolis
last year. Lowe’s plans to employ roughly 1,000 workers in the 140,000-square-foot Class A facility.
8900 Keystone Crossing,
Suite 1150
Indianapolis, IN 46240
www.jll.com/indianapolis
For more information, please contact:
Mike Cagna
Senior Research Analyst
tel +1 317 810 7358
Mike.Cagna@am.jll.com
Trade, transportation and
Utilities, 217,500, 22%
Professional and
Business Services,
152,400, 15%
Educational and Health
Services, 145,600, 15%
Government, 130,400,
13%
Leisure and Hospitality,
100,900, 10%
Manufacturing, 91,600,
9%
Financial Activities,
62,200, 6%
Other Services, 44,900,
4%
Mining, Logging and
construction, 40,400, 4%
Information, 16,800, 2%