Indiana

Quick Facts

Indiana Governor Mike Pence

Indiana Governor Mike Pence

 

  • Capital: Indianapolis
  • Population (2012 Est.): 6,537,334
  • Largest Cities (2012): Indianapolis (balance), 834,852; Fort Wayne, 254,555; Evansville, 120,235; South Bend, 100,800; Carmel, 83,565
  • Targeted Industries: Motorsports, IT, Agriculture, Advanced Manufacturing, Defense & National Security, Logistics
  • GDP (All Industry 2012): $298.6 billion*

*Bureau of Economic Analysis, U.S. Department of Commerce

indiana

Incentives

RIGHT-TO-WORK

In 2012, Indiana became the 23rd state in the nation to enact a right-to-work bill into law. Right-to-work gives Hoosier workers the freedom to decide individually if they will financially support a union and it gives companies the flexibility to respond more effectively to the needs of the marketplace.

FINANCE PROGRAMS

Industrial Development Grant Fund: Provides money to local governments for off-site infrastructure projects associated with an expansion of an existing Indiana company or the location of a new facility in Indiana. State funding through the IDGF program must be matched by a combination of local government and company financial support.

TAX INCENTIVES

Corporate Tax Rate: Indiana’s corporate tax rate was reduced from 8.5% to 6.5%. This will be phased in from July 1, 2012 to July 1, 2015. The legislature reduced this tax in order to improve upon Indiana’s existing business climate and bring it more in line with rates in other states.

Economic Development For A Growing Economy (EDGE): Created to reward companies creating new jobs and contributing to the growth of Hoosier income. Credits are calculated as a percentage of payroll tax withholding for net new Indiana jobs and may be awarded for a term of up to 10 years. EDGE is a refundable tax credit that can be offered in situations where Indiana is competing against another state or country for a company’s site location investment. The company must commit to maintaining operations in Indiana for at least two years beyond the term of its EDGE award.

Venture Capital Investment (VCI) Tax Credit: The $200 filing fee was eliminated for two years until June 30, 2013. The VCI tax credit cap per qualifying business was raised from $500,000 to $1 million. This change provides greater opportunities for young companies to attract capital and grow in Indiana.

Industrial Recovery Tax Credit: The General Assembly reduced the statutory thresholds in order to allow more vacant buildings in the state to be eligible for this program. The minimum in-service period for building was reduced from 20 to 15 years. The minimum vacancy period was reduced from one year to zero. The minimum square footage for building requirement was reduced from 250,000 square feet (50,000 square feet from 2011 to 2014 and 100,000 square feet starting in 2015). These changes may help bring more vacant facilities back into service by providing an incentive to companies for rehabilitation expenses.

Hoosier Business Investment Tax Credit (HBITC): Established to encourage capital investment in Indiana by providing a credit against a company’s Indiana tax liability. The credit amount is based on a company’s qualified capital investment with the final credit amount determined by the IEDC based on an analysis of the economic benefits of the proposed investment.

Hoosier Alternative Fuel Vehicle Manufacturer Tax Credit: Established by IC 6-3.1-31.9, it provides a credit up to 15% of the qualified investment for the manufacture of alternative fuel vehicles. An applicant must compensate its employees at least 150% of the state’s hourly minimum wage and agree to maintain operations for at least 10 years.

Headquarters Relocation Tax Credit: When a business relocates its corporate headquarters, divisional headquarters or R&D facility to Indiana, it is entitled to a credit against its state tax liability equal to half of the costs incurred in relocating the headquarters. A company must have a worldwide annual revenue of at least $50 million to qualify and after relocation, the corporation must have 75 employees in Indiana.

Research and Development (R&D) Tax Credit: Authorized by IC 6-3.1-4-1 and administered by the Indiana Department of Revenue, it provides a credit against state tax liability for qualified company research expenses and is based on the increase in Indiana R&D over the prior three-year base. In the base year, research expenses must have been at least half of the research expenses in the current year. The credit equals 15% of qualified research expenses on the first $1 million of investment. The tax credit is applied against income tax liability and may be carried forward 10 years. There is no carry back, and the credit is nonrefundable.

Research and Development (R&D) Sales Tax Exemption: Authorized by IC 6-2.5-5-40, it provides a refund of 50% of the Indiana sales taxes paid on purchases of eligible R&D equipment purchased after June 30, 2007. Taxpayers may also file a claim for the refund for tax paid on retail transactions.

Property Tax Abatement: The law was changed to allow local governments the flexibility to structure the property tax abatement schedules however they wish over 10 years. The previous statute defined the schedule. This will give local economic development leaders more control over the incentive packages they offer to companies.

WORKFORCE DEVELOPMENT

Skills Enhancement Fund (SEF): A tool to encourage companies to invest in their existing workforce and train new employees. It provides reimbursement for eligible training expenses over a two-year term. Companies may reapply for additional SEF Funds after their initial two-year term.

OTHER INCENTIVES AND BUSINESS INITIATIVES

Certified Technology Park Program: Created as a tool to support the attraction and growth of high-technology business in Indiana. Designation as a Certified Tech Park allows for the local recapture of certain state and local tax revenue which can be invested in the development of the park.

Indiana Shovel Ready Program: Reduces potential costs of site development for businesses and enhances the marketability of certified sites. The goals of the program are to:

  • Certify sites and existing buildings to expedite the location and permitting processes for business development
  • Help local communities identify and prepare sites and existing buildings for economic development
  • Identify and fast track the state and local permits necessary for a specific site (dependent on the end user)

Small Business Innovation Research Initiative & Small Business Technology Transfer (STTR): Programs that stimulate technological innovation and provide opportunities for Indiana small businesses to participate in federally funded research and development programs.

State Listings

  • Indiana Economic Development Corporation

    Victor Smith
    Secretary of Commerce
    One North Capitol, Suite 700
    Indianapolis, IN 46204
    P: 317-234-5013
    [email protected]
    www.in.gov/iedc

 

Utility Listings

  • Duke Energy Indiana

    Bart Beal
    Vice President, Community Relations & Economic Development
    1000 E. Main Street
    Plainfield, IN 46168
    P: 317-838-6844
    [email protected]
    www.locationindiana.com
  • Hoosier Energy

    Harold Gutzwiller
    Manager, Economic Development/Key Accounts
    P.O. Box 908
    Bloomington, Indiana 47402
    P: 812.876.0294
    [email protected]
    www.HoosierSites.com
  • Indiana Michigan Power

    Rob Cleveland
    Manager of Economic & Business Development
    110 East Wayne Street
    Fort Wayne, IN 46802
    P: 260-408-3453
    [email protected]
    www.indianamichiganed.com
  • Northern Indiana Public Service Co.

    Diane Thalmann
    Econ. Dev. Manager
    801 E. 86th Avenue
    Merrillville, IN 46410
    P: 800-262-6477
    [email protected]
    www.nipsco.com
  • Vectren Corporation

    Mark Sebree
    Director of Economic Development
    One Vectren Square
    Evansville, IN 47708
    P: 866-203-4284
    [email protected]
    www.vectrened.com
  • Wabash Valley Power

    Sherry Rose
    Manager Economic Development
    722 North High School Road
    Indianapolis, IN 46214
    P: 800-833-2279
    [email protected]
    www.wvpaed.com/

 

Regional Listings

  • Economic Development Coalition of Southwest Indiana

    Greg Wathen
    President & CEO
    318 Main Street, Suite 400
    Evansville, IN 47708-1456
    P: 812-423-2020
    [email protected]
    www.southwestindiana.org
  • Greater Kokomo Economic Development Alliance

    Chris Hamm
    President & CEO
    700 East Firmin Street, Suite 200
    Kokomo, IN 46902
    P: 765-457-2000
    [email protected]
    www.greaterkokomo.com
  • Greater Lafayette Commerce

    Jody Hamilton
    Economic Development Director
    P.O. Box 348
    Lafayette, IN 47902-0311
    P: 765-742-4044
    [email protected]
    www.greaterlafayettecommerce.com
  • Indy Partnership (Greater Indianapolis area in Central Indiana)

    Troy Whittington
    Executive Director
    111 Monument Circle, Suite 1950
    Indianapolis, IN 46204
    P: 317-464-2205
    [email protected]
    www.indypartnership.com
  • Northeast Indiana Regional Partnership

    Courtney Tritch
    Director of Marketing
    200 East Main Street, Suite 910
    Fort Wayne, IN 46802
    P: 260-469-3469
    [email protected]
    www.neindiana.com
  • Northwest Indiana Forum Regional Economic Development Corporation

    Donald Koliboski
    Economic Development Director
    6100 Southport Road
    Portage, IN 46368
    P: 219-763-6303
    [email protected]
    www.nwiforum.org
  • One Southern Indiana

    Matthew Hall
    Vice President
    4100 Charlestown Road
    New Albany, IN 47150-9538
    P: 812-945-0266
    [email protected]
    www.1si.org
  • Southern Indiana Dev. Commission

    Greg Jones
    Executive Director
    P.O. Box 442
    Loogootee, IN 47553
    P: 812-295-3707
    [email protected]
    www.sidc.cc
  • West Central Indiana Economic Development District Inc. (WCIEDD)

    Ron Hinsenkamp
    Executive Director
    1718 Wabash Avenue
    Terre Haute, IN 47807
    P: 812-238-1561, ext. 240
    [email protected]
    www.westcentralin.com

 

County Listings

  • Bloomington Economic Development Corporation

    Ron Walker
    President
    400 W. 7th St., Suite 101
    Bloomington, IN 47404
    P: 812-335-7346
    [email protected]
    www.comparebloomington.us
  • Boone County Economic Development Corporation

    Bryan Brackemyre
    Interim Executive Director
    218 East Washington Street
    Lebanon, IN 46052
    P: 765-482-5761
    [email protected]
    www.booneedc.org
  • Dearborn County Economic Development Initiative

    Kelli Boiman
    Business Development Manager
    320 Walnut Street
    Lawrenceburg, IN 47025
    P: 812-537-0814
    [email protected]
    www.dearborncountyedi.com
  • Economic Development Corporation of Elkhart County

    Chris Stager
    Vice President, Retention and Expansion
    300 NIBCO Parkway, Suite 201
    Elkhart, IN 46516
    P: 574-293-5627
    [email protected]
    www.elkhartcountybiz.com
  • Economic Development Corporation of Wayne County

    Valerie Shaffer
    President
    500 South A Street, Suite 2
    Richmond, IN 47374
    P: 765-983-4769
    [email protected]
    www.edcwc.com
  • Fort Wayne-Allen County Economic Development Alliance

    Ashley Steenman, CEcD
    Vice President of Business Development
    111 West Wayne Street
    Fort Wayne, IN 46802
    P: 260-469-2710
    [email protected]
    www.theallianceonline.com
  • Hamilton County Economic Development Corporation

    Tim Monger
    President & CEO
    37 East Main Street
    Carmel, IN 46032
    P: 317-573-4950
    [email protected]
    www.investhamiltoncounty.com
  • Harrison County Economic Development Corporation

    Darrell Voelker
    Director
    111 W. Walnut Street
    Corydon, IN 47112
    P: 812-738-0120
    [email protected]
    www.hcedcindiana.org
  • Hendricks County Economic Development Partnership

    Cinda Kelley
    Executive Director
    5250 East US Hwy 36, Suite 1103
    Avon, IN 46123
    P: 317-745-2400
    [email protected]
    www.hcedp.org
  • Huntington County United Economic Development Corporation

    Mark Wickersham
    Executive Director
    8 West Market Street
    Huntington, IN 46750
    P: 260-356-5688
    [email protected]
    www.hcued.com
  • Jackson County Industrial Development Corporation (JCIDC)

    Jim Plump
    Executive Director
    301 North Chestnut Street, P.O. Box 783
    Seymour, IN 47274
    P: 812-522-4951
    [email protected]
    www.jcidc.com
  • Johnson County Development Corporation

    Cheryl Morphew
    Executive Director
    2797 N. Morton St., Suite E
    Franklin, IN 46131
    P: 317-736-4300
    [email protected]
    jcdc.org
  • Kosciusko Economic Development Corp.

    George Robertson
    President
    121 North Lake Street
    Warsaw, IN 46580
    P: 574-265-2601
    [email protected]
    www.kosciuskoedc.com
  • Lawrence County Econ. Dev. Council

    Gene McCracken
    Director
    1116 16th Street
    Bedford, IN 47421
    P: 812-275-4493
    [email protected]
    www.lawrencecountygrowth.com
  • Miami County Economic Development Authority

    Rachel Daily
    Director of Marketing & Business Attraction
    1525 W. Hoosier Blvd.
    Peru, IN 46970
    P: 765-689-0159
    [email protected]
    www.miamicountyeda.com
  • Muncie-Delaware County Indiana Economic Development Alliance

    Terry Murphy, CEcD
    Vice President, Economic Development
    401 South High Street
    Muncie, IN 47305
    P: 765-751-9104
    [email protected]
    www.muncie.com
  • Newton County Government

    Scott Carlson
    District 2 Council
    201 North 3rd Street
    Kentland, IN 47951
    P: 219-285-6626
    [email protected]
    www.newtoncounty.in.gov/
  • Perry County Development Corporation

    Alvin Evans
    President & CEO
    601 Main Street, Suite A, Suite 200, P.O. Box 731
    Tell City, IN 47586
    P: 812-547-8377
    [email protected]
    www.pickperry.com
  • Scott County Economic Development Corporation

    Robert Peacock
    Executive Director
    821 South Lake Road South
    Scottsburg, IN 47170
    P: 812-723-3388
    [email protected]
    www.scottcountyin.com
  • St. Joseph County Chamber of Commerce

    Jeff Rea
    President & CEO
    401 East Colfax Avenue, Suite 310
    South Bend, IN 46617
    P: 574-400-4000
    [email protected]
    www.sjchamber.org
  • Switzerland County Economic Development Corporation

    Jon Bond
    President
    P.O. Box 192
    Vevay, IN 47043
    P: 855-627-5526
    [email protected]
    www.switzerlandusa.com
  • Whitley County Economic Development Corp.

    Alan Tio
    President
    220 West Van Buren Street, Suite 102
    Columbia City, IN 46725
    P: 888-244-5506
    [email protected]
    www.whitleyedc.com

 

City Listings

  • City of East Chicago Planning & Economic Development Department

    Kathy Brown
    Economic Development Consultant
    4444 Railroad Avenue
    East Chicago, IN 46312
    P: 219-391-8205
    [email protected]
    www.eastchicago.com
  • City of Elkhart

    Barkley Garrett
    Economic Development Manager
    229 South Second Street
    Elkhart, IN 46516-3137
    P: 574-294-5471, ext. 109
    [email protected]
    www.elkhartindiana.org
  • City of Fort Wayne

    John Urbahns
    Community Development Director
    200 East Berry Street, Suite 320
    Fort Wayne, IN 46802
    P: 260-427-1131
    [email protected]
    www.cityoffortwayne.org
  • City of Gary

    Arlene Colvin, Esq.
    Director, Community Development
    839 Broadway, Suite 302N
    Gary, IN 46402
    P: 219-881-5075
    [email protected]
    www.gary.in.us/communitydevelopment/
  • City of Noblesville

    Judi Johnson
    Director of Economic Development
    16 South 10th Street
    Noblesville, IN 46060
    P: 317-776-6345
    [email protected]
    www.choosenoblesville.com
  • City of South Bend

    Scott Ford
    Executive Director, Community Investment
    227 West Jefferson Boulevard, Suite 1200 S
    South Bend, IN 46601
    P: 574-235-9371
    [email protected]
    www.southbendin.gov
  • City of Valparaiso Planning Department

    Tyler Kent
    Director
    166 Lincolnway
    Valparaiso, IN 46383
    P: 219-462-1161
    [email protected]
    www.valpo.us
  • Develop Indy

    Amber Ross
    Senior Project Director
    111 Monument Circle, Suite 2450
    Indianapolis, IN 46204
    P: 317-808-3252
    [email protected]
    www.developindy.com
  • Economic Development Corporation Michigan City

    Clarence Hulse
    Executive Director
    Two Cadence Park Plaza
    Michigan City, IN 46360
    P: 219 873-1211
    [email protected]
    www.edcmc.com
  • Economic Development Corporation Michigan City (EDCMC)

    Clarence Hulse
    Executive Director
    2 Cadence Park Plaza
    Michigan City, IN 46360
    P: 219-873-1211
    [email protected]
    www.edcmc.com
  • Growth Alliance for Greater Evansville (GAGE)

    Chris Kinnett
    Business Development Director
    318 Main Street, Suite 500
    Evansville, IN 47708
    P: 812-492-4384
    [email protected]
    www.growthallianceevv.com
  • Jasper Chamber of Commerce

    Nancy Eckerle
    Executive Director
    P.O. Box 307
    Jasper, IN 47546-0307
    P: 812-482-6866
    [email protected]
    www.jasperin.org
  • Terre Haute Econ. Development Corp.

    Steve Witt
    President
    630 Wabash Avenue, Suite 101
    Terre Haute, IN 47807
    P: 812-234-2524
    [email protected]
    www.terrehauteedc.com