Incentives for Business Development in Southwest Indiana

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Incentives for Business Development in Southwest Indiana - Southern Indiana

Southwest Indiana communities welcome new businesses. With tools such as property tax abatement, a Southwest Indiana community can substantially lower a new business's operating costs over its first few years of operation.

5 Year Abatement
10 Year Abatement

Local Incentives
Nearly every locality in Southwest Indiana can point to special incentive programs that it can offer a company. For expample, Vanderburgh County has an Airport Development Zone and an Enterprise Zone. Warrick County offers a special training incentive and Knox County offers it "Pathways Network" workforce program. Many counties can put together creative deals using tools such as Tax Increment Financing (TIF), a tool that Perry County has excelled in employing.

The State of Indiana will also bring special programs "to the table" when working with a new or expanding Southwest Indiana company. The tools at its disposal include Skills Enhancement Fund, EDGE and the infrastructure assistance program.

Consult with the local economic development officials in each county for more information on incentives. They can help businesses apply, and certain counties can offer special incentives in addition to those mentioned above. See the graphic below for examples.

Workforce
Perhaps the strongest incentive to businesses interested in Southwest Indiana, however, is a skilled, available workforce The State of Indiana offers programs and technical assistance to help businesses find and train workers. WorkKeys job profiling is the state's premier program for training of existing and new employees.

The Uplink (ESS) - Employer Self Service Logon is the latest technology in matching qualified applicants with the needs of the business community. Access to a state-wide pool of job applicants via the internet is provided. Businesses have the ability to list their own job orders and make selections of qualified applicants.

Businesses can also contact specialists at the two regional WorkOne Centers and Workforce Investment Boards in Evansville and Vincennes for personalized service.

Other Reasons to locate in Indiana.
The cost of worker's compensation insurance premiums vary greatly from state to state and directly relate to the cost of each state's administered program and the level of benefits. Indiana's worker's compensation program is well-managed and well-funded. Consequently, this important cost of doing business is exceptionally low in Indiana. Unemployment insurance costs in Indiana are lower than in any other state in the Midwest.

And, quite simply, we want your business. The economic development professionals of SWIDC will utilize every tool available to help your company find the best location and incentives available.