Competitive Incentives and Tax Structure
Companies seeking to locate within the State of Indiana will find a very competitive business tax structure, favorable economic development programs and a variety of state and local incentives including:
- Indiana Economic Development for a Growing Economy (EDGE) tax credits
- Hoosier business Investment (HBI) tax credits
- Tax credits to offset the costs of research and development
- Hoosier Headquarters Relocation tax credit
- Clean Energy Credits
- Hoosier Alternative Fuel Vehicle Manufacturer tax credit
- Grants from the Skills Enhancement Fund to assist businesses in training and upgrading employee skills needed to support new capital investment
- A tax-exempt bond program that offer manufactures reduced interest rates on borrowed funds
As a former military facility, Vermillion Rise Mega Park has additional incentives and financing tools available. The sale of land on the site is also indemnified by the United States Army.
The entire Vermillion Rise Mega Park is within a designated Tax Increment Finance (TIF) district, providing subsidized funding for redevelopment, infrastructure, and other community-improvement projects. And, its approval for the Alternative Site Framework (ASF) program within the Greater Indianapolis Foreign-Trade Zone, Inc. service area provides additional cost benefits for global companies.
Vermillion County is committed to the development of a thriving business community at the Vermillion Rise Mega Park and works to ensure an easy permitting process. The county has also seen that much of the preliminary work needed to streamline state permitting processes is complete.
Contact us today to learn more about the tremendous cost benefits of locating at Vermillion Rise Mega Park. We are confident that we can put together a package to meet your needs.