"This great news demonstrates that Indiana has successfully weathered the economic downturn and is now in one of the very best fiscal conditions of any state in the country.

"The strong financial management by Gov. Daniels and his administration is perhaps the best and most important of many positive legacies from his two terms in office. The state's financial performance will lead to refunds for taxpayers and over $300 million to address the state's long-term pension obligations to public employees."

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The Indiana Chamber of Commerce is the state's largest broad-based business advocacy and information organization, representing nearly 5,000 member companies that employ 800,000 Hoosier workers.