It’s no secret that Indiana has a highly competitive business environment backed by a state administration that is committed to growing existing and attracting new businesses. However, the businesses themselves often don’t understand what incentive programs are available to support growth plans.
As one of the largest employment sectors in Indiana, it’s especially important for the manufacturing industry to understand what tools are at its disposal and how those tools can be leveraged. The following is a list of Indiana state and local incentive programs available to manufacturers considering expansion plans involving capital investment, job creation, employee training, or relocation.
How our clients are utilizing these programs (case studies):
Example 1: A mid-size manufacturer is expanding its business in Southern Indiana to keep up with increasing customer demand. As part of the expansion, the company is adding 100,000 square feet of new manufacturing and distribution space and creating 45 new, full-time positions. To support the Indiana company, the state and local community offered the following incentives:
Example 2: A regional manufacturer located in Central Indiana is implementing new technology to optimize current manufacturing and distribution operations. In addition to the upfront cost of the hardware and software, the company will incur additional cost to retrain its existing workforce. To support the business, the company received the following incentives:
Example 3: A foreign company without operations in the United States is considering Indiana or Michigan for its first manufacturing operation. The new facility will cost $10 million and result in 20 new, full-time employees. To encourage the expansion in Indiana, the state and local community offered the following incentives:
As is often the case with legal and financial matters, hiring a professional to guide you through the state incentives process could make a big difference in the amounts you secure and dramatically increase your growth trajectory. It is always better to seek help as early in the process as possible as some incentives are time-sensitive, and the rules governing them are strictly enforced.