From the Governor
“From home-grown businesses to international Fortune 500 companies, organizations of all sizes are choosing to invest in Indiana because of our best-in-the-Midwest job climate and a Hoosier workforce that’s second to none.”—Gov. Eric J. Holcomb
A State that Works
While Indiana remains a top state for manufacturing, agriculture and logistics. it’s also expanding into new sectors. The Hoosier State recently forged partnerships with Israeli businesses through the Israeli Innovation Authority. And in October, Indianapolis hosted the Cybertech Midwest week, partly to help propel the state further into the cybersecurity industry. Infosys, a global leader in consulting, technology and next-generation services, recently announced it will establish a U.S. Education Center in Indianapolis to train its U.S. workers. And Geico said in February an expansion of its customer service center will add more than 1,350 new jobs.
Senior Vice President,
Domestic & International Business Development
Headquarters Relocation Tax Credit (HQRTC): Offers a tax credit of up to 50% of approved costs of relocating a headquarters to Indiana. Eligible businesses must have annual revenues of at least $50 million.
Hoosier Business Investment Tax Credit (HBI): Offers nonrefundable income tax credits as a variable percentage of capital investments that support job creation in the state.
Economic Development for a Growing Economy (EDGE) Tax Credit: Offers a refundable corporate income tax credit of up to 100% of the expected increased tax withholdings generated from the creation of new jobs.
Research and Development Incentives: Offers research expense tax credits and a R&D sales tax exemption for qualifying R&D transactions.
Indiana Economic Development Corp.: iedc.in.gov.
Indiana Economic Development Association: ieda.org
Greater Fort Wayne Inc. Economic Development: greaterfortwayneinc.com/economic-development
Growth Alliance for Greater Evansville: growthallianceevv.com
Highlighted Program or Initiative
The Next Level Connections Program targets $1 billion in infrastructure projects, including more international flights, increased broadband access, new rail service and expansion of interstates.
- Geico announced in February it will invest more than $16 million and add more than 1,350 jobs at an expansion of its customer service center in Indianapolis.
- Infosys announced in April it will establish a U.S. Education Center in Indianapolis to train its workers. With the growth, the company said it plans to expand its workforce in the state to 3,000 by the end of 2023.
- Jasper Group announced in April it will open a 1.2 million-square-foot manufacturing facility in Orleans and will create an additional 300 jobs by 2021.
- Niagara Bottling announced in July it will invest $56 million and add 49 new jobs at a 469,000-square-foot manufacturing and bottling facility in Jeffersonville.
- Rockwell Automation announced in June it will invest $16.4 million to renovate a 369,000-square-foot facility and will create 231 jobs by 2023.
Eight Fortune 500 companies are headquartered in the state:
Eli Lilly and Co.
Zimmer Biomet Holdings
Berry Global Group
Simon Property Group
“We are excited to partner with Indiana to grow our U.S. presence by building our U.S. Education Center here, which is dedicated to continuous learning and incubating the skills of the future…. Our new Indianapolis facility will prepare our American employees—and those of our clients—to master the kinds of advanced skills that are now required to succeed in our digital future.” —Ravi Kumar, President, Infosys
“Kokomo has a wealth of engineering talent…. So it made sense to expand here. Kokomo embraces new technology and emerging green technology. The ongoing development in Kokomo will attract skilled talent, so we will always have a deep talent pool to draw from.” —Anthony Cooper, Vice President of Engineering, Green Cubes Technology