No amount of incentives will make
a bad location a good choice.
In our case, local incentives are designed to be the icing on the cake... a really good cake!
- Tax Abatement – allows a phase-in of net new property taxes on real and personal property for up to 10 years, producing savings of approximately 50% or more. Contact us for more information and for assistance with completing your no-cost application.
- Tax Increment Finance (TIF) – TIF in Indiana permits a local redevelopment commission to designate targeted “allocation areas” for economic development purposes. Columbus, Bartholomew County and the Town of Edinburgh each have one or more TIF areas. Within a TIF area, property taxes generated from new commercial or industrial construction can be set aside and invested back in the area to promote further development. Captured property tax revenues can also be leveraged by the issuance of TIF bonds to finance public infrastructure, land acquisition, site improvements, and other types of investments. In some cases, taxes on depreciable personal property used in industrial, manufacturing, warehousing, research and development, processing, distribution, or transportation related projects, can also qualify for the use of the TIF mechanism.
- Economic Development Income Tax (EDIT) Fund – Residents of Bartholomew County pay an individual 0.25% economic development income tax on wages. Collected EDIT dollars are shared by the local units of government within the county, and those funds can be utilized for any lawful purpose. A portion of the City of Columbus and Bartholomew County EDIT funds can sometimes be set aside as an incentive pool to support exceptional economic development projects within the City and/or County. Contact us for more information.
Various State of Indiana incentive programs and exemptions are available, and our team is well-prepared to assist existing and prospective companies in pursuit of qualifying incentive programs. Some of the more popular incentive tools are highlighted below:
- Economic Development for a Growing Economy (EDGE) Tax Credit – a refundable, performance-based credit against a company’s Indiana corporate tax liability, based upon meeting certain pledged hiring and payroll commitments
- Hoosier Business Investment (HBI) Tax Credit – a non-refundable tax credit that can be carried forward up to ten years, to offset a company’s Indiana corporate tax liability, based upon qualifying capital expenditures
- Skills Enhancement Fund (SEF) Grants – SEF grants, when approved in advance, can be utilized by companies to offset up to 50% of eligible training expenses associated with the hiring or re-training needs of the company.
- Headquarters Relocation Tax Credit (HRTC) – provides a tax credit to corporations that relocate their headquarters to Indiana. The credit equals half the moving costs and is assessed against the corporation’s state tax liability.
Other State Incentives & Programs of Interest:
- Hoosier Alternative Fuel Vehicle Manufacturer Tax Credit
- Industrial Recovery Tax Credit
- R&D Tax Credit
- Venture Capital Investment Tax Credit
- Patent Income Exemption
- R&D Sales Tax Exemption
- Industrial Development Grant Fund
- Regulatory Ombudsman
- Small Business Innovation Research Initiative
- Tax-exempt Bond Program – Indiana Finance Authority
- Capital Access Program