The Jasper model
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowManufacturing has long been the backbone of local Hoosier economies. As the nation’s most manufacturing intensive state, Indiana’s prosperity is inextricably linked to a competitive global economy.
All too often, decisions that impact kitchen tables around the state are made in far away places. As the Boomer generation begins to transition out of leadership positions and ownership, there is a pressing need to preserve and expand local equity ownership in Indiana manufacturing firms.
Dubois County is a great example of the dividends provided by keeping equity local. Major employers including Meyer Distributing, OFS Brands, Jasper Rubber, and Jasper Engines and Transmissions are locally owned and headquartered, employing generations of local residents.
But the most powerful story is that these companies are still rooted in their communities. Meyer Distributing and Jasper Engines have made significant impacts on local employment and wages while playing key roles in community philanthropic efforts. By keeping decision-making and profits close to home, these businesses keep wealth circulating throughout our hometowns.
Localized success offers valuable insight into the importance of preserving local ownership in manufacturing. When firms are controlled by outsiders or large corporate interests, economic benefits leave town. But when ownership remains within the community, it ensures that the benefits stay where they are most needed.
This model does not just serve businesses—it serves the people. With local ownership, workers are more likely to see higher wages, decreased tax burden, more opportunities for advancement, and a greater stake in the long-term success of their employers. Local investors also reinvest into their communities, supporting schools, hospitals and other institutions that improve the quality of life for all.
Just compare two similar southern Indiana counties to see the results. In 1969, per capita income in my home county of Lawrence held a very slight advantage over Dubois, according to the St. Louis Fed. But from 1969 to 2023, Dubois County has opened up a lead of over 27%, at $14,200 per person. That is real money, which has increased investment in schools, factories, and other community amenities while funding over 500 endowments overseen by the Dubois County Foundation.
Gov. Mike Braun, a native of Jasper, has shown firsthand how local ownership and manufacturing drives regional prosperity. Braun’s roots in Jasper underscore a personal connection to our state’s manufacturing legacy, and his success is a testament to the importance of building from a strong local foundation. In his own words, the power of small towns and local ownership has shaped who he is and what he believes. This message should resonate with all Indiana continues building economies that puts Hoosiers first.
Companies like Jasper Engine and Jasper Rubber provided job opportunities that allowed Gov. Braun to start his own businesses and eventually lead at the national level. His story underscores the crucial role that strong, locally-driven industries play in shaping the future of both individuals and entire communities.
To further this success, Indiana must protect and steward local equity. This includes providing incentives for local investments in manufacturing, creating educational opportunities for communities to learn about the benefits of local ownership, and encouraging partnerships between government and private enterprise to facilitate local economic development.
Dubois County’s economic engine is a testament to the power of local ownership. By preserving and expanding local equity ownership, we can ensure that the wealth generated by these industries benefits all members of the community, creating a model for success that can be replicated across the state. As Gov. Mike Braun’s success story demonstrates, what’s good for small-town Indiana is good for the whole state.
It’s time we made local ownership a priority.