ChiefExecutive.net

A Business-Friendly Boom

Thanks to a collaborative effort between state government, local government, universities and the private sector to drive a pro-business culture, Indiana boasts one of the highest concentrations of manufacturing operations in the country. Advanced manufacturing, which makes up 30% of the state GDP and employs roughly 20% of the workforce, is also spurring development in IT. The tech sector has added nearly 15,000 jobs in the past two years, largely driven by an influx of companies escaping the high costs of the coasts.

From the Governor

“Businesses from across the world recognize our state’s business-friendly environment, robust talent pipeline and reputation as the technology hub of the Midwest. We’ll continue taking Indiana to the next level, ensuring we’re the best place to grow jobs and business.” —Gov. Eric Holcomb

Key Contacts

Indiana Economic Development Corporation

Key Incentives

Headquarters Relocation Tax Credit (HRTC): Offers a credit against state income taxes for corporations that relocate their headquarters to Indiana.

Hoosier Business Investment Tax Credit: Offers nonrefundable income tax credits as a percentage of capital investments for businesses to support job creation and improve the standard of living for Indiana residents.

Economic Development for a Growing Economy (EDGE)—Payroll Tax Credit: Provides a refundable tax credit as a percentage of the expected increased tax withholdings generated from new job creation.

Industrial Development Grant Fund: Offers assistance to municipalities for off-site infrastructure improvements needed to serve a proposed project site.

EDCs

Indiana Economic Development Corp.: iedc.in.gov

Indiana Economic Development Association: ieda.org

Highlighted Program or Initiative

The 21st Century Research and Technology Fund aims to advance and accelerate R&D and start-up and scale-up firms.

Big Deals

• Toyota announced in January 2017 it would create 400 new jobs and invest an additional $600 million in its manufacturing facility in Princeton.
• Salesforce announced in May 2016 it would create an additional 800 new jobs and invest in a $40 million expansion at its Indianapolis headquart
• UPS announced in June 2017 it would create 575 new jobs and construct a $260 million package processing facility in
• Chinese firm BeijingWest Industries announced in June 2017 it would hire more than 400 workers and establish its first U.S. facility in Green

Big Companies

Seven Fortune 500 companies headquartered in state, including:
Anthem
Eli Lilly and Co.
Cummins
Steel Dynamics
Simon Property Group

C-Suite Testimonials

“Indiana is one of the best states in which to do business, and the state’s Hoosier hospitality is legendary. But what impressed me most is the quality of people, including those who are now part of our Salesforce family.” —Marc Benioff, Chairman and CEO, Salesforce

“Why do this in Indiana? Because we have a great business climate that supports innovation. Low costs and low taxes allow job creators to invest more resources into their businesses and their employees.” —Don Brown, CEO, LifeOmic

“We’re big fans of Indiana—the state has an appealing business climate, available skilled technical people with manufacturing expertise, a strong work ethic and a fantastic location.” —Todd Peters, CEO, BrightVolt