Goshen’s Business Landscape: A Year of Growth, Challenges, and Future Investments

Published in Business and Finance on Saturday, August 23rd 2025 at 4:01 GMT by The Goshen News
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Goshen's business community has demonstrated resilience and adaptability over the past year, navigating economic shifts while simultaneously laying the groundwork for future growth. While challenges persist – particularly concerning workforce development and rising operational costs – a spirit of innovation and investment continues to define the local landscape. This article synthesizes key developments highlighted in recent reports and interviews with local business leaders, painting a picture of a community striving for sustainable prosperity.

Key Sector Performance: Manufacturing Remains Strong, Tourism Bounces Back

Manufacturing remains a cornerstone of Goshen’s economy, consistently exceeding pre-pandemic production levels. Several expansions within the sector were announced throughout the year, most notably at Sterling Dynamics, which added 30 new jobs following an investment in advanced robotics (as detailed in their press release available here: [ https://www.sterlingdynamics.com/newsroom/press-release-expansion ]. This expansion underscores the ongoing demand for locally manufactured goods, both domestically and internationally. However, supply chain disruptions, while easing compared to previous years, continue to pose a minor hurdle, impacting lead times and raw material costs.

The tourism sector, significantly impacted by pandemic restrictions, has experienced a robust rebound. The opening of "Riverbend Adventures," a new outdoor recreation center along the Tippecanoe River (more information available at [ https://riverbendadventures.com/ ]), proved to be a major draw for visitors, boosting revenue for local hotels, restaurants, and retail businesses. The Goshen Convention & Visitors Bureau reported a 15% increase in overnight stays compared to last year, demonstrating the sector's renewed vitality.

Small Business Support: Incubator Program Sees Success, Access to Capital Remains a Concern

The Goshen Small Business Incubator has proven instrumental in fostering entrepreneurship within the community. The program, funded by a grant from the Indiana Office of Rural Development (details on the grant can be found here: [ https://www.in.gov/rd/programs-and-resources/rural-development-grants/ ]), has supported over 20 new businesses in the past year, ranging from artisan food producers to tech startups. Several incubator graduates have successfully transitioned to independent operations, contributing to job creation and economic diversification.

Despite this success, access to capital remains a significant challenge for many small business owners, particularly those from underrepresented communities. The Goshen Community Development Corporation (GCDC) is actively working to address this issue through partnerships with local banks and credit unions, aiming to increase the availability of microloans and other financing options. Their latest report on small business lending can be viewed here: [ https://www.goshencdc.org/reports ].

Workforce Development: A Critical Need for Skilled Labor

A persistent shortage of skilled labor continues to hamper growth across various sectors in Goshen. While Sterling Dynamics’ investment in automation partially mitigates the impact, many businesses report difficulty finding qualified candidates for manufacturing, healthcare, and construction roles. The Greater Goshen Chamber of Commerce is collaborating with Ivy Tech Community College (information on their programs: [ https://www.ivytech.edu/goshen/ ]) to develop targeted training programs designed to address these skill gaps. These initiatives include apprenticeships, vocational workshops, and partnerships with local high schools. The Chamber’s recent survey on workforce needs highlights the urgency of this issue (available at [ https://www.goshenchamber.org/workforce ]).

Future Investments & Challenges: Infrastructure Improvements and Rising Costs

Looking ahead, Goshen is poised for further economic development with several significant infrastructure projects underway. The planned expansion of the industrial park (details on the project can be found at [ https://www.cityofgoshen.com/industrial-park ]) promises to attract new businesses and create additional jobs. Furthermore, improvements to the Tippecanoe River waterfront are expected to enhance recreational opportunities and boost tourism revenue.

However, rising operational costs – including energy prices and insurance premiums – pose a significant challenge for many businesses. The city council is exploring strategies to mitigate these costs through incentives and regulatory reforms. Additionally, ongoing discussions regarding property tax assessments are creating uncertainty within the business community. The next public forum on property taxes will be held on October 26th (more information: [ https://www.goshencity.com/taxes ]). Conclusion:

Goshen’s business environment reflects a dynamic interplay of growth, challenges, and opportunity. While the community faces headwinds related to workforce development and rising costs, the resilience of local businesses, coupled with strategic investments in infrastructure and small business support, positions Goshen for continued economic prosperity. The collaborative efforts of government agencies, business organizations, and educational institutions will be crucial in navigating these complexities and ensuring a vibrant and sustainable future for Goshen’s economy.

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Goshen’s Business Landscape: A Year of Growth, Challenges, and Future Investments