Development Agencies
The State of Indiana has an array of assistance agencies and incentives to provide state businesses with the resources they need to prosper. The Indiana Economic Development Corporation and the Department of Workforce Development are two state agencies that serve as information resources for Hoosier companies.

Indiana Economic Development Corporation (IEDC): The IEDC replaced the Indiana Department of Commerce in February of 2005 and is the State of Indiana's lead economic development agency. The corporation's focus is to attract new businesses to the State and to retain existing businesses and help them grow.

Department of Workforce Development (DWD): The Indiana Department of Workforce Development offers services and assistance in advertising, recruiting, assessing and selecting employees. This agency offers up to five Work Keys skill profiles and five job assessment tests at no charge. The department's goal is to help Indiana businesses maximize their resources by ensuring a qualified pool of job applicants with relevant skills.

Incentives
Indiana not only has a competitive tax structure, but many incentives to attract businesses to the area. Indiana strives to be a business friendly state and the state's numerous incentive programs reflect this focus.

Skills Enhancement Fund: The fund provides reimbursement up to 50% of eligible training costs for a variety of training costs over a two-year period. Businesses are eligible to reapply for additional funds after the initial two year time period.

Technology Enhancement Certifications for Hoosiers (TECH) Fund: The TECH Fund was created to help Indiana businesses train their existing information technology professionals. The maximum award of $50,000, 50% of the IT training costs, or $2,500 per employee, whichever is less, can be used for costs associated with a company's IT professionals earning recognized certifications in areas including: systems administration, systems engineering, and software development.

Industrial Development Infrastructure Assistance: This program provides assistance to a governmental entity with off-site, public infrastructure improvements needed to serve the site. Eligible infrastructure costs could include road extensions, water and sewer lines, and fiber optics.

Certified Technology Park Program: This program reflects Indiana's efforts to support the growth of high-technology business in Indiana. Designation as a Certified Tech Park allows for the local recapture of certain state and local tax revenues to provide additional funds for the development of the technology park.

Venture Capital Investment Tax Credit: The goal of this tax credit is to improve access to capital for fast growing Indiana companies by encouraging individual and corporate investors to invest in early stage firms. Investors who provide qualified debt or equity capital to Indiana companies receive a credit against their Indiana tax liability.

Economic Development for a Growing Economy (EDGE): EDGE was created to reward companies creating new jobs in the State. When an eligible project creates net new jobs in the state, payroll taxes (3.09%) can be credited for up to ten years. The tax credit is based on the withholding taxes of Indiana resident employees and can be applied against a company's Indiana corporate income tax liability.

Hoosier Business Investment Tax Credit: The tax credit was established to encourage capital investment in Indiana. The tax credit is 10% of the amount of qualified investments made in the State of Indiana for taxable years beginning on or after January 1, 2004. Any unused Credit amount may be carried forward for not more than nine consecutive years after the year in which the qualified investment is made.

Community Revitalization Enhancement District (CReED) Tax Credit for Qualified Investments: This tax credit reduces the taxpayer's state and local tax liability for a taxable year if the taxpayer makes a qualified investment in that year. Qualified investments are investments made for the redevelopment or rehabilitation of property located within a designated community revitalization enhancement district. The tax credit is 25% of the amount of the qualified investment. Any unused portion may be carried over to following years.

Industrial Recovery Site (Dinosaur Building): The industrial recovery tax credit provides an incentive for companies to invest in facilities requiring significant rehabilitation or remodeling expense. This program targets large, older abandoned buildings with investment tax credits up to 25% of improvements for the oldest buildings.

Industrial Development Grant Fund: The IDEC provides financial support for infrastructure improvements in conjunction with projects creating jobs and generating capital investment in Indiana. This grant provides money to local governments for off-site infrastructure projects associated with an expansion of an existing Indiana company or the location of a new facility in Indiana. State funding through the IDGF program must be matched by a combination of local government and company financial support.

Clean Energy Tax Credit: This tax credit program provides an incentive for the development of renewable energy. Biodiesel, blended biodiesel, ethanol producers, blended biodiesel distributors, may be eligible for a tax credit calculated as a percentage of their fuel production or distribution.

Foreign (Free) Trade Zones: In designated areas, duties and tariffs are either deferred or eliminated, transport insurance costs may be reduced and inventories are exempt from property taxes. There are seven general purpose zones and seventeen sub-zones throughout the state.

Enterprise Zones: Projects in designated redevelopment areas are eligible for credits in property taxes, Indiana gross income taxes, individual investments, interest income to lenders, increased wages and adjustments in residents' state income taxes.