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Indiana State Incentives

The state incentive programs are administered by the Indiana Economic Development Corporation. There are over 30 different types of incentives that are available to new and existing business in the state. In addition, there are close to 15 other funds and grants that can be of assistance to a company locating in Indiana.

Skills Enhancement Fund

Indiana's Skills Enhancement Fund provides financial assistance to new and expanding companies committed to training their workers. Eligible companies can receive reimbursement up to $200,000 or up to 50% of eligible training costs. The program is administered on a reimbursement basis by the Indiana Economic Development Corporation with a minimal amount of application paperwork. Indiana will also continue this commitment to training by welcoming companies back after two years to apply for more funds to retrain their employees.

For detailed information on the Skills Enhancement Fund, please go to:

http://www.IN.gov/iedc/incentives/sef.html

Industrial Development Grant Funds

This program is designed to assist communities in providing necessary public infrastructure capable of attracting and supporting new business investment. Grants and loans are awarded to communities on behalf of a new or expanding industry.

For detailed information on the Industrial Development Grant Funds, please go to:

http://www.IN.gov/iedc/incentives/idgf.html

Economic Development for a Growing Economy (EDGE)

The EDGE program offers assistance through tax credits applied against any Indiana Corporate income tax liability incurred as a result of the recipient's project. Credits may be awarded for a period not to exceed ten years. EDGE was created to assist those companies which are creating new jobs by locating or expanding in Indiana.

For detailed information on the EDGE program, please go to:

http://www.IN.gov/iedc/incentives/edge.html

Hoosier Business Investment Tax Credit

Thirty percent credit against the applicant’s state tax liability based upon capital investments that lead to the creation of new jobs or increase the level of wages in Indiana. The EDGE (Economic Development for a Growing Economy) Board must approve the investment for the credit to be claimed. Qualified investments include the purchase of equipment, infrastructure, new computers or related equipment; costs associated with retooling machinery; and costs associated with construction of buildings for use in the computer, software, biological sciences or telecommunications industries.

For detailed information on the Hoosier Business Investment Tax Credit, please go to:

http://www.IN.gov/iedc/incentives/hbitc.html

Venture Capital Investment Tax Credit

Tax credit against a qualified taxpayer’s state tax liability. The credit is for the taxpayer who provides qualified investment capital to a qualified Indiana business. A business is certified by the Indiana Economic Development Corporation if it is paying wages at least 150 percent of Indiana per capita personal income; is headquartered in Indiana; has average annual revenues of less than $10 million in the previous two years; has at least 50 percent of its employees residing in Indiana or at least 75 percent of the company’s assets located in Indiana; is not engaged in a business involving real estate, real estate development, insurance, retail sales, oil or gas exploration or services provided by an accountant, lawyer or physician; and is focused on research and development or other technology pursuits.

For detailed information on the Venture Capital Investment Tax Credit, please go to:

http://www.IN.gov/iedc/incentives/venture.html

Industrial Development Bonds (IDB)

Industrial Development Bonds or Private Activity Bonds are municipal bonds issued for the benefit of private companies. Since municipal bonds are tax exempt, they are offered at a lower interest rate. The bonds may be issued through the Indiana Development Finance Authority (IDFA) or through local economic development commissions and are available to Indiana manufacturing companies.