Despite the unprecedented challenges and uncertainty during the pandemic, Indiana was on track to hit its fifth consecutive record-breaking year of economic develop mentin 2021. One promising sector is manufacturing. In April 2021 alone, the state announced commitments from Amazon, Apple and Toyota with a total of more than $900million capital investment and 2,900 jobs. The challenge is now keeping the flow of talent to support the growth. In early May, Gov. Eric Holcomb launched the Indiana Regional Economic Acceleration and Development Initiative (READI), which will dedicate $500 million to encourage long-term sustainable investments to make regionsacross the state magnets for talent.
Economic Development for a Growing Economy (EDGE): Offers a refundable corporate income tax credit based on the tax withholdings generated from new jobcreation.
Headquarters Relocation Tax Credit (HRTC): Offers a refundable tax credit that equals 80 percent of the total payroll in Indiana for small, high-growth businesses thatrelocate their headquarters to the state.
Hoosier Business Investment (HBI) Tax Credit: Offers a corporate income tax credit as a percentage of the eligible capital to support projects that support job creationor capital investment.
Industrial Development Grant Fund: Offers assistance to municipalities to perform infrastructure improvements and upgrades needed to serve proposed projects.
Skills Enhancement Fund Workforce Training Grant: Offers assistance to support the training and upgrading skills of employees required to support new capitalinvestments. Grant may be provided to reimburse up to 50% of eligible training costs over a two-year period.
Indiana Economic Development Corporation
Greater Fort Wayne Inc. Economic Development
Growth Alliance for Greater Evansville
Launched in May 2021, the Regional Economic Acceleration and Development Initiative is a bold, transformational initiative that will dedicate $500 million in stateappropriations to promote strategic investments that will make Indiana a magnet for talent and economic growth.
Seven Fortune 500 companies headquartered in state, including: