Grants

The EDC of Wayne County partners with the State of Indiana to assist businesses to access applicable state programs including grants, workforce training, tax credits and exemptions, loans and other business tools. If you’re interested in utilizing one of these state programs contact us and we’ll help you get started.

Industrial Development Grant Fund (IDGF)

This grant provides assistance to municipalities and other eligible entities as defined under I.C. 5-28-1 with off-site improvements needed to serve the proposed project site. IDGF will reimburse a portion of the actual total cost of the infrastructure improvements.

Small Business Innovation Research Initiative (SBIR/STTR)

The Small Business Innovation Research (SBIR) and the Small Business Technology Transfer (STTR) programs are the largest source of early-stage technology financing in the U.S. Work with a Small Business Development Center (SBDC) advisor to determine if these programs are right for you business.

Workforce Training

Skills Enhancement Fund (SEF)

The Skills Enhancement Fund (SEF) provides assistance to businesses to support training and upgrading skills of employees required to support new capital investment. The grant may be provided to reimburse a portion (typically 50%) of eligible training costs over a period of two full calendar years from the commencement of the project. Grants from the Skills Enhancement Fund must lead to post-secondary credentials, a nationally-recognized industry credential, or specialized company training for both new hires and existing workers, and an increase in wages for existing employees.

Next Level Jobs Program

Hoosiers get things done. Our Indiana workforce powers key industries like life sciences, microelectronics, EV and battery innovation and data centers. With training programs tailored to the needs of individual employers, you can find the right employees at the right time. We consistently meet employer demand → making Indiana a destination for new business investments and expansions. Our Plug-In Ready℠ locations and talent pipelines make Indiana a top choice for companies seeking bold results. The EDC of Wayne County can connect employers with Eastern Indiana Works to further explore these training programs.

Tax Credits

Economic Development for a Growing Economy (EDGE) Payroll Tax Credit

The Economic Development for a Growing Economy (EDGE) Tax Credit provides an incentive to businesses to support job creation, capital investment and to improve the standard of living for Indiana residents. The refundable corporate income tax credit is calculated as a percentage (not to exceed 100%) of the expected increased tax withholdings generated from new job creation. The credit certification is phased in annually for up to 10 years based upon the employment ramp-up outlined by the business.

Headquarters Relocation Tax Credit

The Headquarters Relocation Tax Credit (HRTC) provides a tax credit to corporations that relocate their headquarters to Indiana. The credit is assessed against the corporation’s state tax liability. Additionally, the Small Headquarters Relocation Tax Credit provides a refundable tax credit to a small, high-growth business that relocates its headquarters or the number of employees that equals 80% of the company’s total payroll to Indiana. The credit is assessed against the corporation’s state tax liability.

Hoosier Business Investment Tax Credit (HBI)

The Hoosier Business Investment Tax Credit provides incentive to businesses to support job creation, capital investment and to improve the standard of living for Indiana residents. The non-refundable corporate income tax credits are calculated as a percentage of the eligible capital investment to support the project. The credit may be certified annually, based on the phase-in of eligible capital investment, over a period of two full calendar years from the commencement of the project.

Tax Exemptions

Community Revitalization Enhancement District Tax Credit

The Community Revitalization Enhancement District Tax Credit (CRED) provides an incentive for investment in community revitalization enhancement districts. The credit amount is equal to the amount of qualified investment made by the taxpayer during the taxable year multiplied by 25%. The credit may be passed through. The credit is applied against the taxpayer’s state or local tax liability, and may be carried forward to the immediately following taxable years.

Venture Capital Investment Tax Credit

This program provides tax credits to investors who invest in qualified Indiana businesses or investment funds, incentivizing capital for early-stage firms. A business must first be certified by the Indiana Economic Development Corporation (IEDC) as a Qualified Indiana Business or a fund must first be certified by IEDC as a Qualified Indiana Investment Fund. The taxpayer’s investment must be made within two years after the date on which the IEDC approves the investment plan.

Data Center Sales Tax Exemption

The Data Center Gross Retail and Use Tax Exemption provides a sales and use tax exemption on purchases of qualifying data center equipment and energy to operators of a qualified data center for a period not to exceed 25 years for data center investments of less than $750 million. If the investment exceeds $750 million, the IEDC may award an exemption for up to 50 years. Local governments may also provide a personal property tax exemption on qualified enterprise information technology equipment to owners of a data center who invest at least $25 million in real and personal property in the facility.

Loans

Tax-exempt Bonds

The Indiana Finance Authority (IFA) is authorized to issue tax-exempt bonds, which lower the cost of financing for manufacturing projects, health care facilities, private institutions of higher education and certain other qualified projects.

Capital Access Program (CAP)

CAP provides businesses with access to capital by encouraging lenders who participate in the program to make loans they may not otherwise make. The CAP-SSBCI allows lenders to consider making slightly riskier loans that might not meet conventional small business lending requirements.

Business Tools

Foreign Trade Zone (FTZ)

Wayne County is in the Central Indiana FTZ, managed by INzone (also known as the Greater Indianapolis Foreign Trade Zone, Inc.) under the authority of the Indianapolis Indiana Airport Authority (IAA). If your company does business internationally, the FTZ program can save time, money, and hassles. Some of the many benefits of the FTZ program include duty deferrals, inverted customs duty savings, reduced insurance costs, and overall simplification of import/export procedures. Learn more about FTZs and how they can benefit your company here.

International Business in Indiana

Approximately 700 international companies from over 30 foreign countries have operations in Indiana, employing more than 139,000 workers and providing the opportunity for small businesses to participate in international trade. Major inventing and trading partners are Japan, the United Kingdom, Germany, France, Australia, and Taiwan

International Offices

The Office of International Development has established six international offices in strategic locations throughout the world. Each office has a corresponding geographic international development specialist located in Indianapolis to facilitate communications between companies and overseas office staff. Indiana representative offices are located in: Australia, China, Europe, Japan, Taiwan, and the United Kingdom.

Regulatory Affairs

The Indiana Economic Development Corporation’s Regulatory Affairs Division assists in the process of obtaining the permits and approvals necessary for a business operation. The office serves as a liaison between companies, communities, local economic development organizations, and regulatory agencies.