NAICS 23

Construction in Indiana: 2026 Market Risk Report

Entry risk 35.0 (Moderate), ranked #11 of 51 states. 16,884 establishments, 169,546 jobs.

Entry Risk Assessment

Entry Risk Score 35.0
Low 0-30
Moderate 30-42
Elevated 42-55
High 55+
Moderate

ⓘ Lower is better. Relative to national construction average.

⛔High Barrier to Entry🛡️Stable Market

Indiana exhibits structural stability in construction, with volatility at 6.7 and firm retention ranking in the top 15. These metrics suggest lower cyclical risk compared to the national baseline.

5-Year Firm Retention
80.4%
Percentile within industry
Rank #11 of 51 states
Growth Momentum
16.7
Scale of 0-100
Rank #37 of 51 states
Establishment Density
9.5
vs. national average
Rank #11 of 51 states
Market Volatility
6.7
Lower is more stable
Wage Pressure Index
70.0
Labor cost pressure

16,884 Establishments in Indiana

16,884
Establishments
+1.3% YoY
169,546
Total Employment
+4.4% YoY
$77,792
Average Annual Wage
+6.6% YoY

Indiana vs National Construction Average

How Indiana's construction market compares to the national average across all 51 states.

Metric IN National Difference
Entry Risk Score 35.0 44.2 -9.2
5-Year Retention 80.4% 51.0% +29.4
Growth Momentum 16.7 30.9 -14.2
Market Volatility 6.7 20.9 -14.2
Establishment Density 9.5 24.6 -15.1
Wage Pressure 70.0 57.1 +12.9

Green = favorable vs national average. Red = less favorable. Metrics are relative within construction only.

Indiana Ranks #11 of 51 for Construction

Indiana ranks #11 out of 51 states for construction market entry conditions.

Construction Entry Risk by State

Rank State Risk Score Classification
#1 Wisconsin 25.1 low
#2 Michigan 28.0 low
#3 Pennsylvania 28.4 low
#4 Alabama 30.3 moderate
#5 Nebraska 32.5 moderate
#11 Indiana You 35.0 moderate
Entry Risk by State Alaska — 60.9 · #50 Alabama — 30.3 · #4 Arkansas — 34.3 · #8 Arizona — 38.6 · #16 California — 47.8 · #32 Colorado — 53.2 · #40 Connecticut — 43.2 · #27 District of Columbia — 56.9 · #45 Delaware — 43.0 · #26 Florida — 54.5 · #42 Georgia — 42.1 · #25 Hawaii — 61.1 · #51 Iowa — 34.3 · #7 Idaho — 58.4 · #48 Illinois — 49.1 · #34 Indiana — 35.0 · #11 Kansas — 51.5 · #38 Kentucky — 39.8 · #19 Louisiana — 53.6 · #41 Massachusetts — 41.5 · #23 Maryland — 35.0 · #12 Maine — 35.5 · #13 Michigan — 28.0 · #2 Minnesota — 37.3 · #14 Missouri — 54.6 · #43 Mississippi — 50.8 · #36 Montana — 45.0 · #28 North Carolina — 38.2 · #15 North Dakota — 58.3 · #47 Nebraska — 32.5 · #5 New Hampshire — 32.6 · #6 New Jersey — 48.3 · #33 New Mexico — 47.4 · #31 Nevada — 39.8 · #20 New York — 51.1 · #37 Ohio — 41.7 · #24 Oklahoma — 52.2 · #39 Oregon — 54.8 · #44 Pennsylvania — 28.4 · #3 Rhode Island — 38.8 · #17 South Carolina — 47.0 · #30 South Dakota — 34.7 · #9 Tennessee — 34.8 · #10 Texas — 46.3 · #29 Utah — 40.1 · #22 Virginia — 39.0 · #18 Vermont — 40.0 · #21 Washington — 58.1 · #46 Wisconsin — 25.1 · #1 West Virginia — 49.5 · #35 Wyoming — 59.3 · #49
Low Moderate Elevated High

Tap a state to view details

About Entry Risk Score: A weighted composite of firm retention, growth momentum, market volatility, establishment density, and wage pressure. Lower scores indicate more favorable conditions. Read full methodology →

Data Sources

Data period: 2024. Last updated: February 2026. Next refresh expected: Q2 2026 (BLS QCEW update).

Compare to Another State

How does Indiana stack up against other states for construction?

Select a state above to see the comparison

Construction in Neighboring States

How Indiana's construction market compares to bordering states.

Michigan 28.0 #2/51 Kentucky 39.8 #19/51 Ohio 41.7 #24/51 Illinois 49.1 #34/51

Other Industries in Indiana

Healthcare and Social Assistance → Retail Trade → Accommodation and Food Services → Professional, Scientific, and Technical Services → Finance and Insurance → Real Estate and Rental and Leasing → Administrative and Support Services → Information → Other Services →