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Kim Vinson
Business Development
 








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Mike Belschner 
Mike Belschner
Small Business Program Administrator
Indiana Small Business Development Center
 








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Kim-Vinson 
Kim Vinson
Business Development
 








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IEDC_0001_2 - Incentives
Hoosier Business Investment Tax Credit (HBI)

Eligibility

To be eligible for the Hoosier Business Investment (HBI) Tax Credit:

  • Project will result in net new jobs that were not previously performed by employees of the applicant

  • Project is economically sound and will benefit the people of Indiana by increasing opportunities for employment and strengthening the economy of Indiana

  • Receiving the tax credit is a major factor in the applicant’s decision to go forward with the project and not receiving the tax credit will result in the applicant not creating new jobs in Indiana

  • Political subdivisions/municipalities affected by the project have offered significant incentives to the business

Eligible capital investment includes new machinery and building costs associated with the project as outlined by I.C. 6-3.1-26-8.


Evaluation Criteria

Each project will be evaluated on its individual merits and with a cost-benefit analysis after it has met the basic requirements as follows:

  • Business commits to new capital investment in Indiana

  • Business commits to the creation of full-time, permanent jobs for Indiana residents at the project location

  • Project supports the purpose of the tax credit, and meets all requirements as set forth in I.C. 6-3.1-26


Reporting Requirements

Upon execution of an HBI tax credit contract with IEDC, the business will be required to report for every calendar year during the term of the contract for a period of 10 years. The following is required information:

  • Summary statistics relating to capital investment that occurred in the applicable year

  • Individual employee data to support contractual employment and wage thresholds

  • Detailed line-item report of eligible investment costs by invoice

Additional Materials