What Indiana Business Research Center does

The Indiana Business Research Center (IBRC) is a 100-year-old economic and demographic research unit within the Kelley School of Business at Indiana University, established in 1925 in Bloomington, Indiana. It operates as Indiana's official liaison to the U.S. Census Bureau and serves as the State Data Center Program coordinator, building and maintaining one of the most comprehensive longitudinal datasets on Indiana's economy, population, employment, taxes, and education indicators. IBRC distributes this data through five primary web platforms: STATS Indiana (statewide statistics), StatsAmerica (U.S. economic development data, supported by the U.S. Economic Development Administration), Hoosiers by the Numbers (workforce data with the Indiana Department of Workforce Development), Indiana Gateway for Government Units (tax and budget transparency for hundreds of local government entities), and the recently retired Indiana Economic Digest.

The technical core of IBRC's analytical offering is the Center for Econometric Model Research (CEMR), integrated into IBRC in 2009, which produces short-run and long-run forecasts for the U.S., Indiana, and 14 Indiana metropolitan statistical areas using three proprietary econometric models: IMUS (256 variables, 200 endogenous), IMI (79 variables, 74 endogenous), and an MSA model. These are complemented by the Brave-Butters-Kelley Indexes (BBKI), a monthly coincident and leading economic barometer, and publications including the quarterly Indiana Business Review (continuous since 1926), the bimonthly InContext, and the biannual Kelley Real Estate Outlook. Geographic analysis is delivered through GIS and Tableau visualization.

IBRC's commercial revenue streams are: (1) subscription-based access to CEMR forecasts (semi-annual long-range and quarterly short-range); (2) fee-for-service commissioned research for government, enterprise, and nonprofit clients (e.g., economic impact studies for Eli Lilly, workforce analyses for Employ Indy, enrollment projections for school districts reaching 90-95% accuracy); and (3) largely free public data access through its portals, supplemented by email/phone data services. Customer segments are Indiana state and local government agencies (primary), businesses and employers (primary), nonprofits (secondary), and researchers and media (secondary). Go-to-market relies on the Futurecast annual economic outlook tour, publications, partnerships, and direct sales for custom work. IBRC does not report standalone revenue and operates entirely within Indiana University's institutional structure, with no external investors.

Name

Indiana Business Research Center

Legal name

Indiana Business Research Center

Website

https://ibrc.kelley.iu.edu

Company type

Private

Founded year

1925

Operating status

Operating

Headcount range

101–250 employees

Short description

Indiana Business Research Center (IBRC), a unit of Indiana University's Kelley School of Business, provides economic and demographic data, econometric forecasts, and commissioned research primarily to Indiana state and local government agencies, businesses, and nonprofits through multiple data portals and the Center for Econometric Model Research.

Ownership category

akta.pro rank

Product category

Economic and Demographic Research Services

NAICS

Management, Scientific, and Technical Consulting Services (5416), Periodical Publishers (51312), Web Search Portals, Libraries, Archives, and Other Information Services (519)

SIC

Services-Engineering, Accounting, Research, Management (8700)

akta.pro primary industry

Industry & Sector Research (Syndicated/Custom) (BPAHALAE)

akta.pro secondary industry

Economic & Macroeconomic Research (BPAHALAD)

Keywords

• Economic forecasting services
• Demographic data research
• Econometric modeling
• State data center
• Workforce analytics

Headquarters

HQ city

Bloomington

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales

Revenue model

1. CEMR Forecast Subscriptions: Subscription packages for long-run and short-run economic forecasts for U.S., Indiana, and metro areas. Subscribers access detailed spreadsheet files containing forecast values and underlying model data.
2. Commissioned Research Services: Fee-for-service custom research and information services. IBRC staff work with clients to define research objectives and prepare proposals. Outputs may include written reports, presentations, webinars, data files, websites, tools, or training programs.
3. Data Access Services: Data access provided through multiple websites (STATS Indiana, StatsAmerica, Hoosiers by the Numbers, Indiana Gateway) with some data available for free and some through email and phone requests.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels8 records

Core offering

The Indiana Business Research Center is a university-based research center that produces economic and demographic data, econometric forecasts, and custom research services for government agencies, businesses, and nonprofits. It operates multiple award-winning web portals (STATS Indiana, StatsAmerica, Hoosiers by the Numbers, Indiana Gateway) and delivers subscription-based econometric forecasts for the U.S., Indiana, and 14 metropolitan statistical areas. Its offerings include commissioned research, population projections, economic impact studies, workforce analytics, and quarterly and bimonthly publications.

Product overview

The Indiana Business Research Center operates a platform of data-rich web services focused on economic and demographic intelligence for Indiana. The core portfolio includes STATS Indiana (statewide statistics portal), StatsAmerica (national economic development data), Hoosiers by the Numbers (workforce data), and Indiana Gateway for Government Units (public finance data). Analytical offerings center on the Center for Econometric Model Research (CEMR) providing econometric forecasting models for U.S., Indiana state, and 14 metropolitan statistical areas, complemented by the Brave-Butters-Kelley Indexes (BBKI) monthly economic barometer and Futurecast annual outlook events. Publications include the Indiana Business Review (quarterly since 1926), InContext bimonthly publication, and Kelley Real Estate Outlook. The Indiana Economic Digest news compilation was retired in June 2026 after 24 years of service.

Differentiator

Problem solved

Functional benefit

Brands

• Center for Econometric Model Research (CEMR): Produces economic forecasts for the United States, Indiana and Indiana metropolitan areas, including short-run and long-range projections.
• Brave-Butters-Kelley Indexes (BBKI)
• Indiana Business Review
• InContext
• Kelley Real Estate Outlook

Products and services

• STATS Indiana
• StatsAmerica

Quantifiable outcome

• School enrollment projections averaged 90-95% accuracy, with some individual years reaching 96-98% accuracy over 17 years
• +2 more outcomes

Named customers8 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

13 partnerships are on record, tiered core and minor.

• Indiana Data PartnershipcoreStrategic or Co-development PartnerEmpowers collaboration among government, nonprofit and private sector entities to drive positive change in key challenges impacting Hoosiers. IBRC assessed organizations and demographic indicators for Employ Indy's Youth Employment Services program.
• U.S. Census Bureau (State Data Center Program)coreStrategic or Co-development PartnerIBRC serves as Indiana's official representative to the Census Bureau through the State Data Center Program and Federal-State Cooperative for Population Estimates. IBRC manages the Business and Industry Data Center portion.
• U.S. Economic Development AdministrationcoreTechnology or IntegrationSupports StatsAmerica portal providing economic development tools and data sets.
• Indiana Department of Workforce DevelopmentcoreStrategic or Co-development PartnerCollaborates on Hoosiers by the Numbers workforce data portal and is part of the Indiana State Data Center coordination. IBRC produces official population projections as Indiana's formal census liaison.
• Indiana State LibrarycoreStrategic or Co-development PartnerLeads the State Data Center program as part of state-level collaboration with IBRC, Indiana Geographic Information Council, and Department of Workforce Development.
• Indiana Economic Development CorporationminorGTM or Marketing PartnerState economic development agency partner for various research initiatives.
• IU Center for Real Estate StudiesminorStrategic or Co-development PartnerJoint initiative producing the Kelley Real Estate Outlook biannual analysis.
• Indiana University Kelley School of BusinesscoreStrategic or Co-development PartnerIBRC is an integral unit within the Kelley School of Business at Indiana University, providing research and data services.
• Management Performance HubminorStrategic or Co-development PartnerReplaced IWIS as state's education and workforce longitudinal data system in 2014.
• Purdue University (Multiple Units)minorStrategic or Co-development PartnerCollaborations with Center for Families, Extension Services, Purdue Center for Regional Development, and State Utility Forecasting Group.
• Indiana Association of RealtorsminorGTM or Marketing PartnerCo-founder of Indiana Economic Digest (now discontinued after 24 years of service).
• Hoosier State Press AssociationminorGTM or Marketing PartnerCo-founder of Indiana Economic Digest (now discontinued after 24 years of service).
• BioCrossroadsminorStrategic or Co-development PartnerIndiana's life sciences industry initiative, collaborated on life sciences industry reports.

Scale indicators7 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Tip Strategies: Tip Strategies is an economic development and strategy consulting firm producing target industry analysis, benchmarking studies, and community assessments for cities and regions—closely paralleling IBRC's commissioned research and community benchmarking work.
• Lightcast (formerly Emsi/Burning Glass): Lightcast is a leading workforce and labor-market data analytics provider serving economic development organizations, colleges, and policymakers. Its workforce and post-secondary data products overlap with IBRC's Hoosiers by the Numbers and demographic analytics offerings.
• Chmura Economics & Analytics: Chmura is a private economic consulting and analytics firm specializing in econometric forecasting, labor market analytics, and economic impact studies. It is directly comparable to IBRC's CEMR and commissioned research offerings in serving government agencies, workforce boards, and economic development organizations.
• Regional Economic Models Inc. (REMI): REMI develops and licenses the REMI Policy Insight econometric forecasting model used by state agencies and universities for regional economic forecasting and policy simulation—comparable to IBRC's IMUS/IMI/MSA econometric model suite.
• Beacon Economics: Beacon Economics is an economic and financial consulting firm producing regional economic forecasts, impact studies, and policy analysis for public and private clients—directly comparable to IBRC's CEMR forecasting and commissioned research practice.
• C2ER (Council for Community and Economic Research): C2ER is a nonprofit membership organization producing cost-of-living indexes (COLI), industry data, and research for the economic development profession. Carol Rogers of IBRC sits on its board, evidencing direct peer overlap in serving and convening the economic development research community.
• University of Minnesota Extension Center for Community Vitality: UMN's center produces regional economic and demographic research and tools for Minnesota communities. It is a near-twin of IBRC in mission—university-based regional economic research, data portals, and demographic projections—serving a different state.

Broad incumbents

• S&P Global Market Intelligence: S&P Global Market Intelligence offers economic, industry, and demographic data products for enterprises and governments. It is a broad incumbent in economic and demographic intelligence with significant overlap in subscription forecasting and industry research with IBRC.
• Moody's Analytics: Moody's Analytics is a global provider of economic forecasts, credit risk models, and data products including state and metro-level projections. It competes with IBRC's CEMR forecasts at the higher end of the market with broader commercial reach.

Regional players

• Federal Reserve Bank of Indianapolis: The Indianapolis Fed publishes regional economic data, monetary policy analysis, and industry reports for Indiana and the Fifth District. It overlaps with IBRC's role as Indiana's regional economic intelligence provider but as a public-sector peer rather than a direct commercial competitor.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks1 record

Key highlights7 records

Customer concentration

• Xx.com/IUibrc
• Facebookfacebook.com/IUibrc
• LinkedInlinkedin.com/company/indiana-business-research-center

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Indiana Business Research Center