|
|
| BUSINESS INCENTIVES AND RESOURCES |
| Indiana Business Incentives and Tax Credits |
|
The Indiana Economic Development Corporation is the state's economic development agency. Certain grants and incentives are listed below, and more information can be obtained from the Regional Partnership or the Local County Economic Development Official (see RP website), or from the IEDC web site:
Regional Partnership
IEDC |
| Skills Enhancement Fund (SEF) |
Financial assistance to new and expanding companies committed to training their Indiana resident workforce. Eligible companies can receive reimbursement of up to 50% eligible training costs |
| Technical Enhancement Certification for Hoosiers (TECH) |
Financial assistance to companies to assist with training their information technology employees. Eligible companies can receive reimbursement of up to $50,000, $2500 per employee, or 50% eligible training costs. |
| Economic Development for a Growing Economy Tax Credit (EDGE) |
for creating new jobs and contributing to the growth of Hoosier income |
| Indiana 21st Century Research and Technology Fund |
for technology-based companies proposing technology or business ideas that demonstrates innovation with clear commercial impact; emphasizes the creation of academic-sector/commercial-sector partnerships |
| Hoosier Business Investment Tax Credit (HBITC) |
tax credit for capital investment in Indiana |
| Headquarters Relocation Tax Credit |
encouraging companies to move headquarters to Indiana--file credit with Dept of Revenue if conditions are met |
| Industrial Development Grant Fund |
Financial support for infrastructure improvements in conjunction with projects creating jobs and creating capital investment in Indiana |
| Venture Capital Investment Tax Credit |
offers tax incentive to individual and corporate investors |
| Industrial Recovery Site Tax Credit |
Credits for rehabilitating buildings that have been empty for two years and were in operation at least 20 years ago, and have at least 250,000 sq ft. |
| Research & Development Sales Tax Exemption |
refund of 100 percent of the sales tax paid on transactions involving research and development equipment acquired after June 30, 2007 |
| Patent Income Tax Exemption |
Indiana provides an exemption from income attributable to qualified patents
www.in.gov/dor/refernce/bulletins/income/index.html |
| Indiana Research and Development Tax Credit |
Ten percent of the increase in research activities conducted in Indiana |
| |
reference IN Dept of Revenue for more info: www.in.gov/
or
http://www.in.gov/iedc/sbir/index.html |
| Other State Assistance: |
| Small Business Development Center: |
for new and existing businesses: business training, reference libraries, small business innovation research initiative, consulting, proposal/grant writing, |
Local (County, City, Town) Assistance: (note: contact local economic development official)
link for a listing of LEDOS |
| County Tax Abatement |
Indiana Legislation authorizes cities, towns, and counties to abate taxes for new activity, and abatements can be up to 10 years, determined by the local government entity. |
| Industrial Development Bonds |
lower interest rates available through county, city, or town. |
| Enterprise Zones |
Investment Cost Credit |
| Other Projects to discuss with Local Economic Development Officials: |
TIF: Tax Incremental Financing Districts. Indiana allows TIG financing in urban renewal and economic development areas
Local campus technical training and certifications
Land incentives
Commercial test kitchen project (see Table 6 for Research and Development)
Revolving Loan Fund |
| Assessment Testing IVY Tech: |
Compass and Asset: College Entrance examsCAAP: statewide outcomes assessment program for post-secondary schools to enhance their general education progarmSpecific college entrance exams for certain programs: PSB; TEASCLEP: College Level Exam ProgramAssessments for Business and Industry: basic skills, aptitude, prof employment tests, viewpoints, Teamwork, Specific Knowledge (mechanical and electrical: see list) |
| Certification Testing IVY TECH |
Certiport (Microsoft), VUE (computer certifications), ACT (certification testing for State licensing), LaserGrade (Fed Aviation, Fed Communication Commission, Certified Electricians, etc), PAN (Transportation Security Adm and Indiana Dept of Insurance Testing), MSSC (Manf Skill Standard Council-testing in manf processes, production, awareness), GED |
| Assessment Testing also available though Huntington Life-Long Learning |