County
Miami County offers the following incentives on a case-by-case basis
- Tax Abatement - - available in 1 to 10 year increments as determined by the Miami County Council (Indiana Code 6-1.1-12.1)
| Duration of Deduction |
| Year |
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
9 |
10 |
| 1st |
100% |
100% |
100% |
100% |
100% |
100% |
100% |
100% |
100% |
100% |
| 2nd |
0% |
50% |
66% |
75% |
80% |
85% |
85% |
88% |
88% |
90% |
| 3rd |
|
0% |
33% |
50% |
60% |
66% |
71% |
75% |
77% |
80% |
| 4th |
|
|
0% |
25% |
40% |
50% |
57% |
63% |
66% |
70% |
| 5th |
|
|
|
0% |
20% |
34% |
43% |
50% |
55% |
60% |
| 6th |
|
|
|
|
0% |
25% |
29% |
38% |
44% |
50% |
| 7th |
|
|
|
|
|
0% |
14% |
25% |
33% |
40% |
| 8th |
|
|
|
|
|
|
0% |
13% |
22% |
30% |
| 9th |
|
|
|
|
|
|
|
0% |
11% |
20% |
| 10th |
|
|
|
|
|
|
|
|
0% |
10% |
| 11th |
|
|
|
|
|
|
|
|
|
0% |
AMOUNT OF DEDUCTION: The local designating body determines the length of the deduction; 5 or 10 years for areas designated before 7/1/2000, or 1-10 years for areas designated after 6/20/2000. See table above for deduction percentage.
LIMITATIONS: The equipment must be used in direct production, processing or finishing of tangible personal property, or for the disposal of solid or hazardous waste by converting it into energy or useful products.
- Utility Extensions
- Training Grants
- Financing Assistance
- Reduced Land Price
Grissom Aeroplex Business, Industrial, & Aviation Park
Grissom Aeroplex is an Indiana Enterprise Zone, a former military installation, and designated Tax Increment Financing (TIF) area. Available benefits for Aeroplex Tenants include a variety of tax incentives, training funds, and infrastructure improvement funds.
| |
Enterprise Zone Programs |
| |
- A credit equal to 100% of property tax liability on inventory
- Exemption from Indiana Gross Income Tax on the increase in receipts from the base year.
- State Investment Cost Credit (up to 30% of purchase price) for individuals purchasing an ownership interest in an enterprise zone business.
- State Loan Interest Credit on lender interest income (5%) from qualified loans made in an enterprise zone.
- State Employment Expense Credit based on wages paid to qualified zone-resident employees. The credit is the lesser of 10% of the increase in wages paid over the base year, or $1,500 per qualified employee adjusted gross income or $7,500.
|
| |
Closed/Realigned Military Base Incentives: |
| |
Reduces both immediate and long term costs for new businesses and investment locating at the Grissom Aeroplex by:
- Eliminating sales tax on utilities for a period of five years
- Reducing the corporate adjusted gross income tax rate from 8.5% to 5% for
the first five years, and
- Providing a Military Base Investment Cost Credit incentive that recognizes any investment made on a closed/realigned military base and not just equity investment as with the Enterprise Zone Investment Cost Credit.
|
| |
Training and infrastructure project funding through enterprise zone participation funds |
| |
Tax Increment Financing (TIF) Foreign Trade Zone Availability |
State
Indiana has an extensive business assistance program to include financial assistance, training assistance, international assistance, technical assistance, and workforce assistance programs. Many grants, loans, and tax incentives are available to companies looking to locate in Indiana. Contact the Indiana Economic Development Corporation at (317) 233-5121 or visit www.in.gov/iedc for more details. |
