Demographics
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% |
|
Source: Administrative Resources Association
| COLUMBUS
ENTERPRISE DEVELOPMENT CORPORATION (CEDC) |
| The CEDC program is a nationally recognized, award winning program which celebrated its 20th anniversary in 2006. It is widely considered one of the most successful business incubation programs within Indiana having graduated more than 100 local companies from its business incubator program and having served more than 4,000 entrepreneurs and business-builders in the region. The CEDC program provides a “one-stop, one-call approach� for small businesses and entrepreneurs who are seeking start-up planning and growth assistance. In a given year, the program will assist in the creation and review of 100 new business plans, help to start 30 new regional enterprises, and help to secure over $5 million in capital for entrepreneurial ventures. Recently, the CEDC program was awarded the Entrepreneurial Award of Distinction for a Social Enterprise Program by the IU Kelly School of Business. The program is also the creator of SmallBizU—the largest online academy designed especially for small businesses. |
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