Business Incentives

Ideal and Affordable for Every Company

Relocating, expanding or establishing businesses in Northwest Indiana is a great deal, available incentives only make it sweeter. The Northwest Indiana Forum will assist you in working with the agencies and municipalities which provide tax credits, grants, workforce training, special programs. The Forum is your regional resource. For more information, contact Joe Rurode or call (800) NWFORUM or (219) 763-6303.

Local opportunities

Property Tax Abatement

IT/IT Enterprise Equipment Tax Exemption

Tax Increment Financing

Federal Grant Program (select locations throughout Northwest Indiana)

 

State opportunities
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Shovel Ready Program

The Shovel Ready Program is a new state program created to help communities certify sites as “ready for development.” Shovel Ready is designed to ultimately help companies locate and develop a property site quickly. This provides a competitive advantage for Indiana and gets Hoosier jobs here faster.


Research and Development Sales Tax Exemption

This program exempts 100 percent of the sales tax on research and development equipment acquired.


Research and Development Tax Credit

After December 31, 2007, the qualified research expense credit will is 15 percent on first $1 million of investment. The research expense credit may be carried for 10 years.


Certified Technology Parks

The Certified Technology Parks program supports the attraction and growth of high-technology business in Indiana and promotes technology transfer opportunities. Designation as a Certified Tech Park allows for the local recapture of certain state and local tax revenue which can be invested in the development of the park.


Small Business Development Center (SBDC)

The mission of the SBDC is to help Indiana businesses grow and create new jobs within the state. The SBDC provides free and low-cost information, management counseling, and educational services designed to support Indiana small business owners and potential entrepreneurs, including assistance with business plan development.


21st Century Research and Technology Fund

The Indiana 21st Century Research and Technology Fund was created to stimulate the process of diversifying the State’s economy by developing and commercializing advanced technologies in Indiana. The Board, representing most of the academic and commercial sectors of the State, approves awards.


Venture Capital Investment Tax Credit (VCI)

The VCI tax credit is a non-refundable tax credit available to qualified applicants that provide investment capital to qualified Indiana businesses. The aggregate credit amount for a particular qualified business is equal to the lesser of 20 percent of the qualified investment or $500,000.


Hoosier Business Investment Tax Credit (HBI)

This program encourages capital investment in Indiana by providing a credit against a company’s Indiana tax liability. The credit amount is based on a company’s qualified capital investment with the final credit amount determined by the Indiana Economic Development Corporation, based on an analysis of the economic benefits of the proposed investment.


Industrial Recovery Site Tax Credit (Dinosaur Building)

The Industrial Recovery tax credit provides an incentive for
companies to invest in facilities requiring significant
rehabilitation or remodeling expense. After a building has
been designated as an industrial recovery site, companies
may be eligible for a tax credit calculated as a percentage
of qualified rehabilitation expense.


Economic Development for a Growing Economy (EDGE)

The Economic Development for a Growing Economy (EDGE)
is a refundable tax credit program that rewards companies
creating jobs and contributing to the growth of Indiana’s
economy. EDGE credits are calculated as a percentage
of payroll tax withholding for net new Indiana jobs. EDGE
credits may be awarded for a period of up to 10 years.


Industrial Development Grant Fund (IDGF)

These grants help communities meet the public infrastructure needs of a new or expanding business. Assistance is available for publicly-installed infrastructure leading up to, but not onto, the company’s property, except in the case of rail spurs and fiber optic cable.


Skills Enhancement Fund (SEF)

SEF provides financial assistance to new and expanding companies committed to training their Indiana resident workforce. Eligible companies can receive reimbursement of up to 50 percent of eligible training costs. Indiana continues this commitment to training by allowing companies to re-apply for additional fun to retrain employees after a two-year period.


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Related Links:

Indiana Economic Development Corporation

IT/IT Enterprise Exemption

Economic Development Partners

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