CEO Guide to Site Selection

#6

Indiana

CEO Rank on Best & Worst States for Business

MANUFACTURING MOMENTUM IN THE HOOSIER STATE

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.

“Indiana continues to secure extraordinary growth in life sciences throughout the state, and we’re thrilled to add Stevanato Group to our list of innovative life sciences companies… The life sciences industry contributes roughly $80 billion to the state’s economy, and we are committed to ensuring a thriving business climate that allows these firms to continue to grow and provide quality Hoosier careers.”
Eric J. Holcomb
Governor

TAXES

0 %

top corporate income tax

# 0

on the Tax Foundation’s State Business Tax Climate Index ranking

EDUCATION

0 %

of students graduated high school in 2019

0 %

of adults age 25 and older have a bachelor’s degree or higher

UNEMPLOYMENT RATE

0 %

RIGHT TO WORK STATE

Yes

QUALITY OF LIFE

# 0

POPULATION GROWTH

0 %

increase between 2010 and 2020

KEY INCENTIVES

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.

EDCs

Indiana Economic Development Corporation
iedc.in.gov

Indy Chamber
indychamber.com/economic-development

Greater Fort Wayne Inc. Economic Development
greaterfortwayneinc.com/economic-development

Growth Alliance for Greater Evansville
growthallianceevv.com

HIGHLIGHTED PROGRAM OR INITIATIVE

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.

BIG DEALS

  • Renewable Transport Services announced an expansion at its Indianapolis operations and 98 new jobs.
  • Electric Last Mile announced in December 2020 a $300 million expansion and 960 new jobs in Mishawaka.
  • Luxury RV manufacturer Alliance Recreational Vehicles, announced in March 2021 an expansion at its Elkhart operations that will create up to 650 jobs.
  • Toyota Motor Manufacturing Indiana announced in April 2021 an $803 million investment to add two electric vehicles to its Princeton production line. It will also add1,400 jobs by the end of 2023.
  • Stevanato Group announced in June 2021 it will locate its new U.S. operations in Fishers and create 230 jobs by the end of 2025.
  • Leaf Software Solutions announced in July 2021 an expansion at its central Indiana office and the addition of 60 jobs by the end of 2024.

BIG COMPANIES

Seven Fortune 500 companies headquartered in state, including:

  • Anthem
  • Eli Lilly
  • Cummins
  • Steel Dynamics
  • Zimmer
  • Biomet
  • Berry Global
  • Thor Industries