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Incentives
Indiana has several programs designed to encourage capital investment and job creation in the Hoosier state.
Read below to learn about the different grants, loans, tax credits and workforce training opportunities available to companies interested in locating in Vectren’s Indiana service area, or download Ball State University’s Toolbox Guide to Development Funds for a comprehensive listing of all programs offered in Indiana.
Grants
Indiana 21st Century Research and Technology Fund
Fund created to diversify Indiana’s economy by developing and commercializing advanced technologies within the state.
Industrial Development Grant Fund (IDGF)
Grant that provides money to local governments for off-site infrastructure projects associated with the expansion of an existing company or the location of a new facility within Indiana.
Small Business Innovation Research Initiative
Initiative that encourages small businesses to explore their technological potential.
Loans
Tax-Exempt Bond Program
Program that allows state or local government entities to issue Private Activity Bonds (often referred to as Industrial Revenue Bonds or Industrial Development Bonds) to private companies – generally manufacturers.
Loan Guaranty Program
Loan guaranty provided from the Indiana Economic Development Corporation to a lender for the benefit of a high-growth, high-skill company that will create or retain a significant number of Hoosier jobs.
Capital Access Program (CAP)
Small business credit enhancement program that creates a specific cash reserve fund for the lender to use as additional collateral for loans enrolled in the program.
Tax Credits
Economic Development for a Growing Economy (EDGE) Tax Credit
A refundable tax credit program that rewards companies creating jobs and contributing to Indiana’s economy. EDGE credits are calculated as a percentage of payroll tax withholding for net new jobs and may be awarded for up to 10 years.
Tax credit that allows a company to credit against its state tax liability for half the costs incurred in relocating its corporate headquarters to Indiana.
Hoosier Business Investment Tax Credit (HBITC)Tax credit program based on a company’s capital investment and the assessed economic benefits (determined by the Indiana Economic Development Corporation) of the proposed investment.
