Lincolnland Economic Development Corporation and Spencer County Want Your Business!

Business Climate
Our commitment to the success of local businesses is demonstrated by the strong corporate and governmental partnerships that have resulted in new business programs, a tax system that keeps overall costs down and a regulatory environment that encourages growth.

Major Employers

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Incentives
Financial benefits can be sought if you select Spencer County Indiana as the site for your next project. The LEDC will work with city and county officials, state government and utility providers to find those resources which fit your company’s needs.

Once the details of your company’s project are known, the LEDC will work to put together the best cost-savings plan available. The variety of incentives that may be utilized toward your project include:

Research and Development Tax Credit
Some Indiana businesses may claim a 10% credit on taxes for investment in research and development. This percentage will remain in effect until 2013.

Tax Increment Financing
Spencer County's TIF funds allow for continued infrastructure development, as well as new construction, property acquisition and training. The amount of revenue available is dependent on your company’s investment. Tax-exempt or taxable bonds may be issued in support of the project. The bonds are then retired through property tax revenue generated by the project and/or the TIF district.

Tax Abatement
Tax Abatement in Spencer is offered in some instances. Prior to construction, a program is set up that will phase in the increase in property taxes that result from investments in industrial buildings, land, machinery and equipment. The gradual increase occurs over a span of up to 10 years.

EDGE Tax Credit
Your company may qualify for a state tax credit known as EDGE. This credit is based on payroll and allows individual income tax withholdings from company employees to be credited against the company’s Indiana corporate income tax liability. Excess withholdings are refunded to the company. These credits can be awarded for up to 10 years.

Hoosier Business Investment Tax Credit
The State of Indiana offers a 30% credit on a qualified capital investment made by a taxpayer. Capital investments include purchase/upgrade manufacturing equipment, telecommunications equipment or computers. Also included is the construction of buildings for use in computer, software, biological sciences or telecommunications industries.

Venture Capital Tax Credit
Investors in Indiana businesses may be eligible for a tax credit equal to 20% of the investment. These credits are authorized by the Indiana Department of Commerce up to $10 million per year.

Biodiesel Tax Credit
A tax credit of $1 per gallon is available for all biodiesel produced in Indiana and used to produce blended biodiesel. A tax credit of 2 cents per gallon is available on blended biodiesel produced in Indiana. Finally, a tax credit of 1 cent per gallon is available on blended biodiesel sold through a metered pump at a service station.

Ethanol Tax Credit
Indiana facilities that produce ethanol are eligible for a 1.25 cents per gallon tax credit.

Aircraft Tax Credit
Aircraft operated by a business entity that has its corporate headquarters in Indiana are exempt from the property tax. Also, property tax deductions are available to owners of aircraft used to transport people or property between a qualifying medium hub airport and at least two qualifying underserved airports.

Interstate Inventory Tax Exemption
Finished goods awaiting shipment to an out-of-state destination are usually exempt from inventory tax. Typically, the amount of the exemption is determined by applying the percentage of the location’s total shipments to out-of-state destinations during the previous year.

Lease-Financing for Capital Projects
Available through the Ports of Indiana, corporations and developers with investment-grade credit that wish to expand may seek financing assistance. This assistance is available to qualified candidates regardless of their proximity to or usage of Indiana’s ports.

Training Cost Assistance
Spencer County and the State of Indiana can both provide training dollars to help get your new or expanded facility staffed with a trained workforce. Grants for up to 50 percent of eligible training costs are available. Awards for retraining can reach up to $200,000. Also, up to 75 percent of related costs may be reimbursed for companies seeking to become QS-9000 certified.

Infrastructure Improvements
Grants and loans are available from the State of Indiana for infrastructure improvements such as funding for roads, rail spurs, water lines and sewer lines.

21st Century Research and Technology Fund
Businesses or individuals looking to develop or commercialize advance technologies can turn to the 21st Century Research and Technology Fund for assistance. Funds have been awarded in fields such as; bioengineering, life sciences, pharmaceutical science, agriculture, advanced manufacturing and information technology.

For additional information on any of the above incentive programs, please contact the Lincolnland Economic Development Department

Additional Links of Interest:
Indiana Department of Commerce – Tax Incentives
Indiana Department of Commerce – Incentives

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Spencer County Indiana’s Assets Include:

• Conscientious skilled workforce
• Business friendly communities
• An excellent, rewarding quality of life
• Location near the median center of US population
• Logistically excellent sites and buildings available
• The right location for your facility