…
State Guide19th StateEst. 1816
Indiana IN
"The Hoosier State"
The Crossroads of America, a state that makes more of its living from manufacturing than any other, whose limestone built the Pentagon and the Empire State Building, whose racetrack hosts the largest single-day sporting event on Earth, and where Abraham Lincoln grew from a boy into the man who would save the Union.
Indiana state finances at a glance
State Debt - FY2024
$8.5 billion
Total state government debt outstanding at the close of fiscal 2024, including long-term bonds and short-term borrowing across state agencies and public universities.
Tax Revenue - FY2024
$26.5 billion
Total Indiana state tax collections in fiscal 2024, led by the general sales tax ($11B) and the individual income tax ($8.1B).
Borrowing
Indiana's constitution prohibits state debt, so the state borrows through lease-appropriation bonds issued by the Indiana Finance Authority, which builds facilities and leases them back to the state. Those bonds are sold to investors in the tax-exempt municipal market and repaid from annual appropriations. The state reported about $289 million in interest on its debt in fiscal 2024.
Source: U.S. Census Bureau, 2024 Annual Survey of State Government Finances.
19th
State admitted to the Union
6.9M
Population (2025 est.)
#1
Manufacturing per capita
300K
Fans at the Indy 500