Indiana Direct Financial Incentives 2010
Indiana's economic development, finance and tax organizations provide a range of incentive programs to initiate new business and commercial investment. Specific programs include economic development bonds, infrastructure financing, and customized training.
Area Development Online Research Desk (Feb/Mar 10)
Economic development bonds:
Cities and counties provide tax-exempt financing for businesses through economic development commissions. Interest rates and terms are negotiated at the local level. Bonds are issued through loan, lease or sale agreements. The bonds can finance facilities for manufacturing and certain other projects.
The state-funded Industrial Development Grant fund supplements the funding of local units of government to pay for offsite infrastructure projects in support of new business development. The grant award is based on new job created and is not to exceed 50 percent of any project.
Businesses can apply for reimbursement grants to subsidize the cost of training and retraining employees through the state's Skills Enhancement Fund grants program. This program covers up to half of eligible training costs, which include instructor wages, tuition, and training materials. The maximum award for retraining is $200,000.
Indiana State Contact:
Indiana Economic Development Corporation
One North Capitol, Suite 700
Indianapolis, IN 46204
Incentive and tax information is provided to Area Development by each state's economic development or commerce agency for information purposes only and is subject to revision at any time by the state government. Please contact the state agency directly for full requirements and offerings.