Marshall County Economic Development Corporation delivers third-quarter update: Low unemployment, workforce challenges ahead

While Marshall County's unemployment rate remains well below state and national levels, the region's economic development leaders say the road ahead is paved with both opportunity and challenges — from rising diesel prices to an ever-shrinking labor force.

Greg Hildebrand, CEO of the Marshall County Economic Development Corporation (MCEDC), delivered the organization's third-quarter update this month, painting a picture of a county that is economically strong but facing headwinds that demand strategic action.

The numbers of the current economic conditions tell a story of resilience, but also of pressure.  Hildebrand said the national unemployment rate stood at 4.2% as of October 2, while the Marshall County unemployment rate was 3.2% in August — below the Indiana rate of 3.6%. He said the Marshall County labor force was down 0.6% from August 2025 and inflation remains a concern, with energy prices on the rise and diesel averaging approximately $7 per gallon locally. Hildebrand also noted that the 30-year mortgage rates have climbed to 7.28% nationally.

The low unemployment rate is a double-edged sword: it signals a strong local economy, but it also means the pool of available workers is shrinking — a challenge that Hildebrand addressed directly in his outlook.

The MCEDC is pursuing a wide-ranging portfolio of initiatives aimed at strengthening the county's economic foundation, including Workforce Development by collaborating with Purdue MEP to host additional industrial training sessions focused on maintenance skills. They have created a quarterly Industrial Working Group that is organizing regular collaboration among industrial employers and are currently working on a Countywide Infrastructure and Utility Study, assessing the county's physical readiness for growth.

MCEDC continues with its Business Retention and Expansion Interviews.  Checking in with existing employers to understand their needs and plans and working on a Talent Attraction Initiative to draw skilled workers to the region.

Hildebrand noted that leads from the Indiana Economic Development Corporation (IEDC) are beginning to pick up — a promising sign for future investment. Having an inventory of available sites and buildings is advantageous, and MCEDC is working to improve the quality of its current inventory while exploring additional possibilities.

Workforce, however, remains the central challenge. The level of skills required by employers is ever-increasing, and providing the training to fill that need is an ongoing effort. The MCEDC's collaboration with Purdue MEP on industrial training sessions is one direct response to that challenge.

Hiildebrand emphasized that quality-of-life amenities, educational attainment, available housing at all levels, and a business-friendly ecosystem all contribute to attracting both talent and investment. He also highlighted a broader shift: access to creative talent is becoming as important to a region's long-term success as physical infrastructure. As manufacturing evolves to capitalize on technology, proximity to training and educational institutions is increasingly a determining factor in where organizations choose to locate.

Marshall County enters the final quarter of 2026 in a position of relative strength — low unemployment, active development projects, and growing interest from state-level economic partners. But the challenges are clear: a shrinking labor force, rising costs, and the need for an increasingly skilled workforce all require sustained attention.

The MCEDC's strategy reflects an understanding that economic development in 2026 is about more than just attracting businesses — it's about building a community where people want to live, work, and build careers. The third-quarter update suggests the organization is keeping its eyes on both the numbers and the bigger picture.