At the local, regional, and state levels, you have access to a variety of incentives and resources that can help propel your business forward.
Adams County is excited about business growth, and looks to foster that growth through tax abatement assistance. The ACEDC will help facilitate this process with each municipality.
RLF Program Loans
The ACEDC has Revolving Loan Funds (RLF) available to new or existing Adams County businesses. This low-interest loan program provides gap financing for businesses that are unable to fully secure needed capital from other sources.
BizFTZ (Foreign Trade Zone)
Adams County is a part of BizFTZ, the Foreign Trade Zone program that operates in the twelve county region of Northeast Indiana. Businesses in Adams County that import and export can easily take advantage of the benefits of operating in a foreign trade zone in the Alternate Site Framework (ASF) Program. The ASF Program saves time and money, encouraging economic development as well as U.S. exports.
WorkOne connects with various state and federal agencies offering grants and incentives to businesses to help train workers. WorkOne also assists with hiring a skilled workforce for expanding companies.
Indiana Small Business Development Corporation
The Northeast Indiana SBDC enhances economic development by assisting new and existing small businesses. The SBDC is funded in part through a cooperative agreement with the U.S. Small Business Administration, the State of Indiana, and many local partners, including Purdue University Fort Wayne.
Community Development Corporation
The Community Development Corporation of Northeast Indiana (CDC) is a City of Fort Wayne sponsored 501 c (6) not-for-profit business development organization. The CDC's primary objective is to promote the growth and development of small commercial and industrial businesses in Indiana through creative loan programs.
Community Revitalization Enhancement District Tax Credit (CRED)
The Community Revitalization Enhancement District (CRED) Tax Credit provides an incentive for investment in community revitalization enhancement districts (Indiana Code 36-7-13). The credit is established by Indiana Code 6-3.1-19. Please note that the CRED tax credit is not the same as the CRED financing tool established under Indiana Code 36-7-13.
Calculation and Application of Credit
The credit amount is equal to the amount of qualified investment made by the taxpayer during the taxable year multiplied by 25%. The credit may be passed through (see Indiana Code 6-3.1-19-13). The credit is applied against the taxpayer’s state or local tax liability, and may be carried forward to the immediately following taxable years.
An application must be approved before an investment is made. See the application for additional requirements.
Data Center Sales Tax Exemption
The Data Center Gross Retail and Use Tax Exemption provides a sales and use tax exemption on purchases of qualifying data center equipment and energy to operators of a qualified data center for a period not to exceed 25 years for data center investments of less than $750 million. If the investment exceeds $750 million, the IEDC may award an exemption for up to 50 years. This program is established by Indiana Code § 6-2.5-15. Local governments may also provide a personal property tax exemption on qualified enterprise information technology equipment to owners of a data center who invest at least $25 million in real and personal property in the facility.
Economic Development For A Growing Economy (EDGE) - Payroll Tax Credit
The Economic Development for a Growing Economy (EDGE) Tax Credit provides an incentive to businesses to support jobs creation, capital investment and to improve the standard of living for Indiana residents. The refundable corporate income tax credit is calculated as a percentage (not to exceed 100%) of the expected increased tax withholdings generated from new jobs creation. The credit certification is phased in annually for up to 10 years based upon the employment ramp-up outlined by the business.
Headquarters Relocation Tax Credit (HRTC)
The Headquarters Relocation Tax Credit (HRTC) provides a tax credit to corporations that relocate their headquarters to Indiana. The credit is assessed against the corporation’s state tax liability. The Headquarters Relocation Tax Credit is established by I.C. 6-3.1-30.
The Small Headquarters Relocation Tax Credit (S-HQRTC) provides a refundable tax credit to a small, high-growth business that relocates its headquarters or the number of employees that equals 80% of the company’s total payroll to Indiana. The credit is assessed against the corporation’s state tax liability. The S-HQRTC is established by Indiana Code § 6-3.1-30.
Industrial Development Grant Fund (IDGF)
The Industrial Grant Fund provides assistance to municipalities and other eligible entities as defined under I.C. 5-28-25-1 with off-site infrastructure improvements needed to serve the proposed project site. Upon review and approval of the Local Recipient’s application, project specific Milestones are established for completing the improvements. IDGF will reimburse a portion of the actual total cost of the infrastructure improvements. The assistance will be paid as each Milestone is achieved, with final payment upon completion of the last Milestone of the infrastructure project.
Research & Development Incentives
The state of Indiana offers two tax incentives targeted at encouraging investments in research and development. Taxpayers may receive a credit against their Indiana state income tax liability calculated as a percentage of qualified research expenses. In addition, taxpayers may be refunded sales tax paid on purchases of qualified research and development equipment. The Indiana Department of Revenue oversees these incentive programs. Select from the menu to learn about our Research Expense Credits and our Research and Development Sales Tax Exemption.
The potential value of incentive amount varies based upon the amount of the qualifying transaction. A taxpayer who qualifies for the exemption must claim the exemption in a manner prescribed by the Indiana Department of Revenue. The form used to claim the exemptions is available at www.in.gov/dor.
Skills Enhancement Fund (SEF) - Workforce Training Grant
The Skills Enhancement Fund (SEF) provides assistance to businesses to support training and upgrading skills of employees required to support new capital investment. The grant may be provided to reimburse a portion (typically 50%) of eligible training costs over a period of two full calendar years from the commencement of the project.
Grants from the Skills Enhancement Fund must lead to post-secondary credentials, a nationally-recognized industry credential, or specialized company training for both new hires and existing workers, and an increase in wages for existing employees.
Venture Capital Investment Tax Credit (VCI)
Indiana Code 6-3.1-24 sets the maximum annual amount of tax credits that may be awarded at twelve million five hundred thousand dollars ($12,500,000). There are no longer any VCI tax credits remaining for the 2021 calendar year. Investors who have been approved to make their investment, as evidenced by their approval letter, and who have not already made their investment can still make their investment during this calendar year.
The Venture Capital Investment Tax Credit program improves access to capital for fast growing Indiana companies by providing individual and corporate investors an additional incentive 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. The Venture Capital Investment Tax Credit is established by I.C. 6-3.1-24.
Redevelopment Tax Credit (RTC)
The Redevelopment Tax Credit provides an incentive for investment in the redevelopment of vacant land and buildings as well as brownfields. This credit, established by Indiana Code § 6-3.1-34, provides companies and developers an assignable income tax credit for investing in the redevelopment of communities, improving quality of place and building capacity at the local level.
The IEDC may not award more than $50 million in credits each state fiscal year. Any credit award over $7 million must include a requirement that a portion of the credit be repaid by the company or developer.
Hoosier Business Investment Tax Credit (HBI)
The Hoosier Business Investment Tax Credit provides incentive to businesses to support job creation, capital investment and to improve the standard of living for Indiana residents. The non-refundable corporate income tax credits are calculated as a percentage of the eligible capital investment to support the project. The credit may be certified annually, based on the phase-in of eligible capital investment, over a period of two full calendar years from the commencement of the project.
It is a pleasure to continually partner with Adams County Economic Development. Colton and his team provide the much needed connection between the public and private sector. They always put the interests of Decatur and all of Adams County first when pursuing any initiative.Mayor Dan RickordCity of Decatur