Indiana is a cost-effective state in which to build a business, as the state’s total business taxes are lower than adjoining states. This is due in part to Indiana having one of the lowest workers’ compensation rates and unemployment tax rates. In addition, the state’s average weekly wage is very competitive and the ease of doing business in Indiana is notable and offers businesses a competitive advantage over other locations.
Since every company has different needs, all business assistance programs offered in Southern Indiana are project specific. The focus of all incentive programs is placed on the specific needs of each individual customer. There are local incentives for property tax abatements and tax increment financing (TIF) benefits, as well as cooperation with the state on its infrastructure programs.
Each local governmental unit determines the extent of their programs. Depending on the location of your new venture, incentives could be available are through the five opportunity zones in Southern Indiana or by the multiple Urban Enterprise Zones (UEZs). Facade improvement programs and redevelopment tax credits, as well as Tax Increment Financing (TIF), may also apply
State Incentive Programs.
The State of Indiana offers many business incentives, including corporate tax credits and economic development programs for companies creating new jobs and investment in our state. Indiana’s business tax structure is also extremely competitive. Indiana has a flat state corporate tax rate on adjusted gross income and no gross receipts tax or inventory tax.