Indiana’s Governor Lowers State Corporate Tax Rate to 6.5 Percent
05/12/2011
"While other states are raising taxes to deal with major budget shortfalls, Governor Mitch Daniels and Indiana's General Assembly were able to cut taxes and improve our state's jobs climate, all while passing a balanced budget," said Secretary of Commerce Mitch Roob, who also serves as chief executive officer of the Indiana Economic Development Corporation. He noted that his state's business environment already ranks "near the top of the pack" in most third-party analysis, and opined that this reduction "will only strengthen our reputation as a place to invest and create jobs."
Indiana's corporate income tax reduction comes only four months after neighboring state Illinois increased its business tax burden from 7.3 percent to 9.5 percent. According to the Tax Foundation, that new rate gives Illinois the fourth-highest combined national-local corporate income tax rate in the industrialized world.
Sen. Brandt Hershman sponsored HB 1004. "By reducing the tax burden for businesses we are sending a strong message to company decision-makers from coast-to-coast, and around the world ,that Indiana is serious about competing for their business and will continue to work to make our state the best possible place to grow," he said.
This tax reduction news comes on the heels of news recently announced that Amazon.com cited Indiana's business-friendly policies as the reason it will open a 900,000-sq.-ft. Internet order fulfillment center in Indianapolis this summer, bringing hundreds of jobs.
Project Announcements
AMI Metals Expands Spokane, Washington, Production Operations
06/20/2025
Newly Weds Foods Plans Dyersburg, Tennessee, Production Operations
06/20/2025
Yaskawa American Expands Franklin, Wisconsin, Headquarters Operations
06/19/2025
Cayuga Milk Ingredients Expands Cayuga County, New York, Production Operations
06/19/2025
Gap Upgrades Gallatin, Tennessee, Logistics Operations
06/19/2025
Swiss-Based Galderma Plans Miami, Florida, Headquarters Operations
06/19/2025
Most Read
-
20th Annual Area Development Gold and Silver Shovel Awards
Q2 2025
-
First Person: Joe Capes, CEO, LiquidStack
Q2 2025
-
The Legal Limits of DEI in Incentives Agreements, Hiring, and Contracting
Q2 2025
-
39th Annual Corporate & 21st Annual Consultants Surveys: What Business Leaders and Consultants Are Saying About Site Selection
Q1 2025
-
Top States for Doing Business in 2024: A Continued Legacy of Excellence
Q3 2024
-
Rethinking Life Sciences Site Selection in a Resilient and Dynamic Market
Q2 2025
-
The New Math Behind Mexico and U.S. Manufacturing Decisions
Q2 2025