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FINANCING & BUSINESS SERVICES

INDUSTRIAL INCENTIVES

TAX ABATEMENT
Tax abatement may be permitted for from one to ten years according to the following schedules for real estate and personal property taxes. Annual reporting to the city is required during the abatement period.

Benefits: As an incentive to investment, the Indiana Tax Abatement Act permits local government to waive a portion of the increased real and/or personal property taxes resulting from the construction, expansion, or improvement of facilities, or installation
of new manufacturing equipment, new research and development equipment, new logistical distribution equipment, or new information technology equipment.

Abatement may be permitted for periods of up to ten years as determined by the city, with the percentage of deduction reduced each year according to the following schedules (and subject to additional limitations imposed by the city).
REAL ESTATE TAX ABATEMENT
Year of Deduction 1 2 3 4 5 6 7 8 9 10
1 Year Deduction 100%                  
2 Year Deduction 100% 50%                
3 Year Deduction 100% 66% 33%              
4 Year Deduction 100% 75% 50% 25%            
5 Year Deduction 100% 80% 60% 40% 20%          
6 Year Deduction 100% 85% 66% 50% 34% 17%        
7 Year Deduction 100% 85% 71% 57% 43% 29% 14%      
8 Year Deduction 100% 88% 75% 63% 50% 38% 25% 13%    
9 Year Deduction 100% 88% 77% 66% 55% 44% 33% 22% 11%  
10 Year Deduction 100% 95% 80% 65% 50% 40% 30% 20% 10% 5%

PERSONAL PROPERTY TAX ABATEMENT
Year of Deduction 1 2 3 4 5 6 7 8 9 10
1 Year Deduction 100%                  
2 Year Deduction 100% 50%                
3 Year Deduction 100% 66% 33%              
4 Year Deduction 100% 75% 50% 25%            
5 Year Deduction 100% 80% 60% 40% 20%          
6 Year Deduction 100% 85% 66% 50% 34% 25%        
7 Year Deduction 100% 85% 71% 57% 43% 29% 14%      
8 Year Deduction 100% 88% 75% 63% 50% 38% 25% 13%    
9 Year Deduction 100% 88% 77% 66% 55% 44% 33% 22% 11%  
10 Year Deduction 100% 90% 80% 70% 60% 50% 40% 30% 20% 10%

COLUMBUS ENTERPRISE DEVELOPMENT CORPORATION (CEDC)
A not-for-profit corporation organized to promote the development of new and growing small businesses. CEDC programs include: The Business Incubator, which provides leased space and services to new firms and the Small Business Development Center, which provides in-depth business planning and management assistance. CEDC is located at 4920 North Warren Drive in the Columbus Municipal Airport Industrial Park.


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500 Franklin Street, Columbus, IN 47201 - Tel: 812-379-4457, Fax: 812-372-6756
 
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