By unleashing your economic potential, you will create a solid foundation for growth — and the South Central Indiana Economic Development Group stands ready to help you do just that. Indiana’s pro-business, pro-growth philosophy offers companies job-creating tax cuts, and encourages emerging technology growth with tax incentives for research and development.
Recent state tax reform and vigorous measures for attracting new companies make the South Central Indiana region a prime location for business. The focus of all incentive programs are placed on the specific needs of each individual client — and the South Central Indiana Economic Group will help lead you through the complicated maze of all facets of relocation or expansion including financing options.
The local governing body where your business is located must grant tax abatements — and all the communities within the eight counties of the South Central Indiana region have all demonstrated a willingness to help companies grow through the use of tax abatement. Tax abatements are available for both manufacturing equipment (5 or 10 years) and for improvements to real estate (3, 6, or 10 years.)
The qualities that make South Central Indiana a great place to live also make it perfect for business. Let us tell you about the benefits of the South Central Indiana region first, and then know that no matter whom you contact, the entire region is at your disposal.
Did you Know?
Indiana ranks in the top ten for entrepreneurs.
Skills Enhancement Fund (SEF) Grants
Provides assistance to businesses to support training and upgrading of skills of employees
Grant may reimburse a portion (up to 50%) of eligible training costs over a period of two full calendar years
Economic Development for a Growing Economy (EDGE) Tax Credit
Provides a REFUNDABLE tax credit to businesses that are creating jobs in Indiana and paying above county low-median income levels
Based on additional employee payroll withholdings
Hoosier Business Investment (HBI) Tax Credit
Tax credit based on qualified capital investment (percentage and carry-forward term determined on a case-by-case basis)
Qualified investments include new machinery and building costs associated with the project
Tax Abatement (“Tax Phase-In”)
Allows companies to phase-in new property taxes up to ten years
Standard abatement schedule will save company approximately 50% over term
Tax Increment Financing (TIF)
Can provide up-front cash, infrastructure, financing, or other project support
Economic Development Income Tax (EDIT)
Local individual payroll tax can help fund local projects, including business attraction or expansion support
* Varies by location. Please contact local economic development office for details.