INDIANAPOLIS REGION
ADVANCED MANUFACTURING
111 Monument Circle Suite 1950 Indianapolis, IN 46204 1.877.236.4332
Indy Partnership
About Us Who We Are The viability of the Indianapolis region’s strong business climate is creating a buzz of growth. Expansion and attraction projects added more than 7,000 jobs and over $500 million in capital investment to the region in 2013, leading to an ever stronger business climate. A business unit of the Indy Chamber, Indy Partnership is the regional marketing organization for the Indianapolis Region, concentrating its efforts in the following industry clusters: Life Sciences; Motorsports; Transportation, Distribution and Logistics; Advanced Manufacturing; Information Technology; and Renewable Energy. The Partnership’s staff has decades of cumulative project experience and offers start-to-finish assistance to help businesses make an informed, strategic location decision. The Partnership provides clients with solid, quantifiable numbers on workforce, cost of doing business - including incentives and taxes, available sites, transportation options and additional relevant data on a county-by-county or region-wide basis. Our business development professionals, working with our local county partners, assist companies throughout the site selection process as they choose the ideal location for an expansion or location. Let us put our team to work for you. For more information, visit www.indypartnership.com. We look forward to hearing from and working with you. Marty Vanags Executive Director Indy Partnership
The 9-county Indianapolis Region includes Boone, Hamilton, Hancock, Hendricks, Johnson, Madison, Marion, Morgan and Shelby counties. Last Updated 2/26/2014
Located in the heart of the U.S., the Indianapolis Region is one of the best locations in all of North America from which to reach key U.S. and Canadian markets.
Our Services Information and Data Assistance: Our research team can help you analyze prospective locations by providing cost of doing business analyses, utility rate estimates, community profiles, comparative information, wage data, demographics and education and training resources. Location Assistance: We’ll provide accurate information on available buildings and land to match your exact facility requirements. Business Incentives: We can assist you in identifying applicable incentive programs and estimate the value of qualifying programs, aid in interpretation of incentive packages and connect you to the state and local leaders who can help move your project to completion.
Indy Partnership 317-236-6262 or Toll Free 1-877-236-4332 E-mail:
[email protected] Website: www.indypartnership.com
Indianapolis Region
Regional Partners Regional Partners The Indy Partnership is a not-for-profit organization dedicated to strengthening the economic growth of the Indianapolis Region. We work closely with economic development organizations in the 9-county region that includes Boone, Hamilton, Hancock, Hendricks, Johnson, Madison, Marion, Morgan and Shelby counties. If you have questions about a specific area of the Indianapolis Region, we encourage you to talk to one of the professionals listed below.
HAMILTON COUNTY ECONOMIC DEVELOPMENT CORPORATION Tim Monger Executive Director 317-573-4950
[email protected]
CORPORATION FOR ECONOMIC DEVELOPMENT (SERVING MADISON COUNTY) Rob Sparks Executive Director 765-642-1860
[email protected] HANCOCK ECONOMIC DEVELOPMENT COUNCIL Skip Kuker Executive Director 317-477-7241
[email protected]
BOONE COUNTY ECONOMIC DEVELOPMENT CORPORATION Molly Whitehead Executive Director 765-482-5761
[email protected]
DEVELOP INDY (SERVING MARION COUNTY) Brian Gildea, Executive Director 317-808-3257
[email protected]
HENDRICKS COUNTY ECONOMIC DEVELOPMENT PARTNERSHIP Cinda Kelley Executive Director 317-745-2400
[email protected]
SHELBY COUNTY DEVELOPMENT CORPORATION Dan Theobald Executive Director 317-398-8903
[email protected]
MORGAN COUNTY ECONOMIC DEVELOPMENT CORPORATION Chelsey Manns Executive Director 317-831-9544
[email protected] JOHNSON COUNTY DEVELOPMENT CORPORATION Cheryl Morphew President and CEO 317-736-4300
[email protected]
The 9-county Indianapolis Region includes Boone, Hamilton, Hancock, Hendricks, Johnson, Madison, Marion, Morgan and Shelby counties. Last updated 8/21/2014
Indy Partnership 317-236-6262 or Toll Free 1-877-236-4332 E-mail:
[email protected] Website: www.indypartnership.com
Indianapolis Region
Business Community Largest Regional Employers Regional Employees 17,398
Regional
Hospitals and health care
IU Health
11,810
Regional
Hospitals and health care
Eli Lilly and Company
10,735
Marion
Pharmaceutical development and manufacturing
Community Health
10,402
Regional
Hospitals and health care
Wal-Mart
8,830
Regional
Retail department stores
Marsh Supermarkets
8,000
Regional
Retail grocers
Kroger Indiana University-Purdue University Indianapolis City of Indianapolis/Marion County
7,840
Regional
Retail grocers
7,365
Marion
Colleges and universities
7,058
Marion
City/County government
FedEx Express
6,000
Roche Diagnostics
4,600
Rolls-Royce
4,300
Marion Marion/ Hamilton Marion
Anthem/WellPoint
4,200
Marion
Health benefits and insurance
Franciscan St. Francis Health
4,100
Regional
Hospitals and health care
AT&T
4,000
Marion
Telecommunications
Defense Finance & Accounting Service
3,865
Marion
US Department of Defense payment services
Eskenazi Health
3,688
Marion
Hospitals and health care
Archdiocese of Indianapolis
3,650
Regional
Catholic organizations
Meijer
3,365
Regional
Retail department stores
Goodwill Industries of Central Indiana
2,933
Regional
Education, training and commercial services
PNC Financial Services
2,566
Regional
Banking and financial services
Allison Transmission
2,500
Marion
Commercial-duty transmission manufacturing
Chase
2,396
Regional
Banking and financial services
BMW Constructors
2,325
Marion
Construction
Duke Energy
1,835
Hendricks
Electric utility
UTC Building and Industrial Systems
1,700
Marion
Company St. Vincent Health
County
Industry
Package and freight shipping Surgical and medical diagnostic instrument development, manufacturing and distribution Aircraft engine research and manufacturing
Heating, AC and security system manufacturing
Sources: Indianapolis Business Journal, Reference USA, Indy Chamber, Indy Partnership, 2013-2014
The 9-county Indianapolis Region includes Boone, Hamilton, Hancock, Hendricks, Johnson, Madison, Marion, Morgan and Shelby counties. Last Updated 11/3/2014
Indy Partnership 317-236-6262 or Toll Free 1-877-236-4332 E-mail:
[email protected] Website: www.indypartnership.com
Indianapolis Region
Business Community Largest Regional Employers Continued Regional Employees 1,650
Hamilton
Raytheon
1,600
Marion
CNO Financial
1,500
Amazon
1,500
Dow AgroSciences
1,480
Interactive Intelligence
1,437
Marion
Communications software
Indianapolis Power & Light Company
1,400
Marion
Electric utility
OneAmerica
1,353
Marion
Insurance/financial products and services
Republic Airways
1,300
Marion
Passenger air transport
F.A. Wilhelm Construction
1,300
Marion
Construction
Angie’s List
1,300
Marion
Household services ratings and reviews
Hendricks Regional Health
1,262
Covance
1,200
Hendricks Hancock/ Marion
Company Sallie Mae/Navient
Sports Licensed Division of the Adidas Group Finish Line
County
Industry Student loan servicing Electronics testing and analysis laboratory
Hamilton Insurance Boone/ Hendricks/ Order fulfillment Marion Marion Agricultural chemicals & biotechnology
Hospitals and healthcare Drug development laboratory
1,200
Marion
Licensed sports apparel
1,187
Marion
Athletic shoes and apparel
Butler University
1,134
Marion
Colleges and universities
Citizens Energy Group
1,100
Marion
Water and natural gas utility
Simon Property Group
1,100
Keihin North America
1,047
Motor vehicle parts
Red Gold
1,000
Marion Madison/ Hancock Madison
Hoosier Park Racing & Casino
1,000
Madison
Horse racing and casino
Indiana Grand Casino & Downs
1,000
Ingram Micro Mobility
1,000
Commercial real estate developers
Tomato products
Shelby Horse racing and casino Hendricks/ Wireless device lifecycle services Marion
Sources: Indianapolis Business Journal, Reference USA, Indy Chamber, Indy Partnership, 2013-2014
The 9-county Indianapolis Region includes Boone, Hamilton, Hancock, Hendricks, Johnson, Madison, Marion, Morgan and Shelby counties. Last Updated 11/3/2014
Indy Partnership 317-236-6262 or Toll Free 1-877-236-4332 E-mail:
[email protected] Website: www.indypartnership.com
Indianapolis Region
Cost of Business & Taxes
2nd lowest worker comp rates in U.S. 5th lowest property tax ranking in U.S. 10th best overall tax climate in U.S. Lowest 10% of real estate cost (major metros) Lowest 25% of electricity cost in U.S. No inventory or franchise taxes No tax on most business services Indiana is a Right To Work State Source: State of Indiana, Tax Foundation, US Dept. of Energy
Tax Structure Personal Income Tax Current State Rate Effective 2015 Effective 2017 Local Option Tax (rates vary by county) Resident Non-Resident
3.40% 3.30% 3.23% 1.0 – 2.72% 0.25 - 0.52%
Rates are applied to adjusted gross income and do not vary based on income. Source: Indiana Department of Revenue, January 2014
Real Estate Q3 2014 (Indianapolis MSA) Indiana Corporate Adjusted Gross Income Tax Industrial Market Inventory 224,085,613 Sq. Ft. Vacancy Rate 6.7% Manufacturing Avg. Net Lease Rate/Sq. Ft. $2.25 Warehouse/Distr. Avg. Net Lease Rate/Sq. Ft. $3.40
Office Market Inventory 36,669,552 Sq. Ft. Vacancy Rate (Downtown) 18.2% Vacancy Rate (Suburban) 17.0% Avg. Class A Gross Lease $/Sq. Ft. (Downtown) $20.99 Avg. Class A Gross Lease $/Sq. Ft. (Suburban) $19.17 Source: Cushman & Wakefield
Current Rate 7.0% Rate will decrease annually, resulting in a 4.9% rate on July 1, 2021. Rates are applied to adjusted gross income and do not vary based on income. Various incentives are available to eligible companies to reduce this rate.
Indiana Sales and Use Tax
7.00%
Exemptions include: Manufacturing raw materials, manufacturing equipment, utilities and other consumables used in production and environmental control equipment used by manufacturers. Most services are not subject to tax.
Indiana Real & Personal Property Tax (Per $100 Assessed Value)
Cost of Electricity = $.0659/kWh Indiana Industrial Average, 2013
Employment & Wages
Median Tax Rate Range by Taxing Districts
$2.12 $0.927 - $3.00
Business property taxes are capped at 3% of the assessed value.
Indiana Unemployment Insurance New Employer Rate Taxable Wage Base
2.50% $9,500
Percentage rates may be lowered after 36 months of compliance, or raised due to non-compliance. $9,500 is the maximum taxable amount per employee. Source: Indiana Department of Workforce Development
Indiana Workers' Compensation (per $100 of payroll) Average Rate for Manufacturing Average Rate for Office All Classes Average
$2.07 $0.27 $1.36
Source: Indiana Compensation Ratings Bureau, January 2014
Source: Bureau of Labor Statistics, May 2013 OES, Indianapolis-Carmel MSA data
The 9-county Indianapolis Region includes Boone, Hamilton, Hancock, Hendricks, Johnson, Madison, Marion, Morgan and Shelby counties. Last Updated 11/26/2014
Indy Partnership 317-236-6262 or Toll Free 1-877-236-4332 E-mail:
[email protected] Website: www.indypartnership.com
Indianapolis Region
Demographics Population
Race and Ethnicity
Population Estimate (2013): 1,901,433 Population Projection (2020): 2,048,636
2013 Estimate
Percent
White
1,460,984
77.0%
Black
282,274
14.8%
Other Race
109,245
5.6%
Two or More Races
43,267
2.2%
Hispanic (of any race)
123,354
6.5%
Source: DemographicsNow
Household Income Median Household Income (2013): $51,941 Source: U.S. Census Bureau and Indiana Business Research Center
Under $35,000
33.6%
Age Breakdown
$35,000 - $49,000
14.2%
Median Age (2013): 35.8
$50,000 - $74,999
18.3%
$75,000 - $99,999
12.5%
$100,000 - Above
20.6%
28.2% 20.3% 39.8% 11.1%
Under 20 20 – 34 35 – 64 65 – Older
Source: DemographicsNow
Source: DemographicsNow
Employment
Highest Educational Attainment
Population 16+ (2013): 1,442,860 In Labor Force (2013): 959,840
2013 Estimate
Percent
Percent Change 2000 - 2010
High School Graduate Some College, No Degree
377,019
30.3%
10.3%
249,322
20.1%
13.8%
Associates Degree
91,398
7.3%
41.1%
Bachelor’s Degree
251,531
20.2%
34.8%
Graduate Degree
127,024
10.2%
10.5%
Number of Employees/Daytime Population (2013): 1,852,394 Employed in Blue Collar Occupations
224,230
23.6%
Employed in White Collar Occupations
292,920
30.8%
Employed in Service, Clerical & Sales Occupations
432,850
45.5%
Sources: DemographicsNow and US Bureau of Labor Statistics Source: DemographicsNow
The 9-county Indianapolis Region includes Boone, Hamilton, Hancock, Hendricks, Johnson, Madison, Marion, Morgan and Shelby counties. Last Updated 4/3/2014
Indy Partnership 317-236-6262 or Toll Free 1-877-236-4332 E-mail:
[email protected] Website: www.indypartnership.com
Indianapolis Region
Workforce
Regional workforce of nearly one million #1. state employment from foreign investment (IBM Global Business Service, 2009) #2 region in concentration of pharmaceutical industry employment (Battelle Institute, 2010) # 1 business climate in the Midwest and 6th best in U.S. (Chief Executive Magazine, 2014) #2 per capita employment in pharmaceuticals (Battelle Memorial Institute, 2010) #4 growth in college degrees in U.S. from 2000-2008 (Brookings Institution, May 2010) 21 colleges & universities and 18 community college campuses within 70 miles
Employment by Occupation 2013
12.5% 10.8%
Manufacturing
10.5%
Accommodation & Food Service
Professional & Technical Svcs
5.9%
Wholesale
5.3%
Finance & Insurance
5.3%
Federal, State & Local Govt
5.3%
Construction
5.2%
Administration & Waste Services
4.4%
Other Services Education Services
10.3%
Management, Business & Finance
9.4%
Transportation & Material Moving
7.8%
Education, Legal, Arts & Media Healthcare Practitioners & Technical
7.1%
Production
6.7%
Computer, Engineering & Science
5.6%
Installation, Maintenance & Repair
3.9%
Construction and Extraction
3.6%
Source: U.S. Bureau of Labor Statistics
Regional Labor Force
7.2%
Transportation & Warehousing
10.8%
Sales
15.6%
Retail
15.3%
Office and Administrative Support
Employment by Industry 2013 Healthcare & Social Assistance
19.5%
Service
Year
Labor Force
Unemployment
859,447 913,954 926,202 956,972
2.4% 4.9% 9.3% 7.0%
2000 Annual Average 2005 Annual Average 2010 Annual Average 2013 Annual Average
Source: U.S. Bureau of Labor Statistics; STATS Indiana
3.6%
Regional Degrees Granted FY 2012-2013 2.4%
Degree Area
Certificate Associate Bachelor Grad
Health Sciences
193
729
4,013
2,345
Business Mgmt. & Administration
373
1,118
6,032
2,909
89
321
4,046
1,101
5
193
2,207
1,029
Source: U.S. Bureau of Labor Statistics, 2014
Commuting Average Commute Time – Indianapolis-Carmel MSA Average Commute Time – Marion County
24.6 minutes 22.7 minutes
Science, Math & Computer Engineering & Technical
Does not include private, for-profit institutions. Sources: Indiana Commission for Higher Education & Independent Colleges of Indiana
Source: U.S. Census Bureau, 2012
The 9-county Indianapolis Region includes Boone, Hamilton, Hancock, Hendricks, Johnson, Madison, Marion, Morgan and Shelby counties. Last Updated 11/6/2014
Indy Partnership 317-236-6262 or Toll Free 1-877-236-4332 E-mail:
[email protected] Website: www.indypartnership.com
Indianapolis Region
State Industrial Electric Rates Indiana has very competitive industrial electric rates, as well as other cost advantages.
Indiana
6.59
Virginia
6.65
Arizona
6.69 6.82
U.S. Average South Dakota
6.93
Pennsylvania
7.00
Minnesota
7.06
Kansas
7.07
Nebraska
7.22
Colorado
7.22 7.54
Wisconsin Florida
7.68
Michigan
7.78
Maine
8.32
Maryland
8.36 8.50
Delaware
10.71
New Jersey
11.17
California
11.87
Rhode Island
13.09
Massachusetts
0.00
2.00
4.00
6.00
8.00
10.00
12.00
14.00
Cents/kWh
Source: U.S. Department of Energy, Energy Information Administration, December 2013 YTD
Indy Partnership will provide our customers with contact information and/or more details about all utilities (electric, water, gas, telecommunications) upon request.
The 9-county Indianapolis Region includes Boone, Hamilton, Hancock, Hendricks, Johnson, Madison, Marion, Morgan and Shelby counties. Last updated 4/24/2014
Indy Partnership 317-236-6262 or Toll Free 1-877-236-4332 E-mail:
[email protected] Website: www.indypartnership.com
Indianapolis Region – Warehouse/Distribution
Average Net Rental Rates
Indianapolis, IN
$3.27
Cleveland, OH
$3.35
Atlanta, GA
$3.34
Louisville, KY
$3.44 $3.51
St. Louis, MO Columbus, OH
$3.57
Dallas, TX
$3.61
Buffalo, NY
$3.91
Richmond, VA
$3.93
Kansas City, MO
$4.15
Detroit, MI
$4.18
Philadelphia, PA
$4.20
Chicago, IL
$4.34
Oklahoma City, OK
$4.36 $4.44
Salt Lake City, UT
$4.62
Baltimore, MD
$4.90
Denver, CO
$5.04
Seattle, WA Pittsburgh, PA
$5.11
Houston, TX
$5.13
Boston, MA
$5.63
Las Vegas, NV
$5.64
Phoenix, AZ
$5.64 $5.70
Oakland, CA
$6.82
Los Angeles, CA $0.00
$1.00
$2.00
$3.00
$4.00
$5.00
$6.00
$7.00
Warehouse/Distribution Average Rent Per Square Foot Source: Cushman and Wakefield,1st Quarter 2014
The 9-county Indianapolis Region includes Boone, Hamilton, Hancock, Hendricks, Johnson, Madison, Marion, Morgan and Shelby counties. Last updated 6/4/2014
Indy Partnership 317-236-6262 or Toll Free 1-877-236-4332 E-mail:
[email protected] Website: www.indypartnership.com
Indianapolis Region
Crossroads of America
Within the United States, truck delivery is often more economical than ships or trains. Ranking number one in passthrough highways, Indiana is within a one-day drive of 80% of the U.S. population. The median center of U.S. population has fallen within Indiana since 1950. •
• •
•
Four interstate highways intersect in central Indiana, making the Indianapolis Region the leading metro area in America with direct interstate access to other markets. Indiana has three state-of-the-art international ports – each a Foreign Trade Zone – located on two of America’s busiest inland waterways. The world’s second-largest FedEx facility is located at Indianapolis International Airport. The eighth-largest cargo airport in North America, Indianapolis International can accommodate all cargo aircraft. Indiana ranks fourth in the United States in rail carloads carried and seventh in volume of NAFTA exports, totaling $15 billion per year.
The 9-county Indianapolis Region includes Boone, Hamilton, Hancock, Hendricks, Johnson, Madison, Marion, Morgan and Shelby counties.
Last Updated 2/27/2014
4 hours Chicago, IL Cincinnati, OH Columbus, OH Louisville, KY St. Louis, MO 8 Hours Birmingham, AL Charleston, WV Cleveland, OH Des Moines, IA Detroit, MI Kansas City, MO Memphis, TN Milwaukee, WI
12 hours Atlanta, GA Baltimore, MD Jackson, MS Little Rock, AR Minneapolis, MN Omaha, NE Charleston, SC Raleigh, NC Richmond, VA Toronto, ON Washington, D.C.
Pittsburgh, PA
Indy Partnership
317-236-6262 or Toll Free 1-877-236-4332 E-mail:
[email protected] Website: www.indypartnership.com
Indianapolis Region
Transportation
One-day drive to 50% of U.S. and Canadian populations One and a half day drive to 75% of U.S. and Canadian populations Logistics workforce greater than 100,000 Most highway convergence in nation 2nd largest FedEx hub in world New Indianapolis International Airport in 2008 No toll roads in region One of only 9 states with AAA bond rating
Indianapolis International Airport 3 runways: Longest is 11,200 feet Served by 8 commercial passenger airlines Airport Activity 2013 Total Passengers: 7,333,733 Non-stop Destinations: 34 Cargo Volume (tons): 1,034,994 Source: Indianapolis Airport Authority
17 Small Commercial Airports, including: Anderson Municipal Airport – Darlington Field Runways: 5,400/3,400 feet
Indianapolis Executive Airport (Zionsville) Runway: 5,500 feet
Hendricks County Airport – Gordon Graham Field (Danville)
Rail - CSX (Avon Switching Yard in Hendricks County) - Norfolk Southern (Anderson Switching Yard in Madison County) -The Indiana Railroad -The Indiana Southern Railroad -The Louisville & Indiana Railroad Source: Association of American Railroads
Runway: 4,400 feet
Indianapolis Regional Airport (McCordsville) Runways: 5,500/3,900 feet
Shelbyville Municipal Airport Runways: 5,500/2,670 feet Source: Anderson, Montgomery Aviation, Shelby Aviation
Ports Port of Indiana – Burns Harbor Portage, Indiana on Lake Michigan
Port of Indiana – Jeffersonville
Foreign Trade Zones (Magnet Sites) Indianapolis International Airport, Indianapolis AllPoints Midwest Business Park, Avon Park 100, Indianapolis EaglePoint Business Park, Brownsburg Eagle Park, Anderson Flagship Industrial Park, Anderson Scatterfield Business Park, Anderson Lebanon Business Park, Lebanon Source: INZONE
Jeffersonville, Indiana on Ohio River
Port of Indiana – Mount Vernon Mount Vernon, Indiana on Ohio River Source: Ports of Indiana
A 2013 study ranked Indianapolis 10th lowest among major US metropolitan areas for traffic congestion during peak travel periods. Sources: Tom Tom, Texas A&M, INRIX
The 9-county Indianapolis Region includes Boone, Hamilton, Hancock, Hendricks, Johnson, Madison, Marion, Morgan and Shelby counties. Last Updated 10/13/2014
Indy Partnership 317-236-6262 or Toll Free 1-877-236-4332 E-mail:
[email protected] Website: www.indypartnership.com
Indianapolis Region
Foreign Trade Zones INzone – The Greater Indianapolis Foreign Trade Zone
INzone is Central Indiana’s foreign trade zone – an international economic incentives program designed to enhance foreign trade. The location of INzone offers businesses quick access to international air travel, domestic and international shippers, and a network of major highways that cross through Central Indiana.
INzone Advantages
Products that enter INzone are not subject to U.S. Customs duties until they are released for use in the U.S. – goods imported into and exported out of INzone are not subject to U.S. Customs duties. INzone provides general warehousing, transportation coordination, thirdparty logistics, repackaging and relabeling, and import/export services. INzone manages six magnet sites in Central Indiana. Magnet sites are located at Indianapolis International Airport (IND), AllPoints Midwest, EaglePoint Business Park, Park 100, Lebanon Business Park, and the City of Anderson. INzone subzones are located at many Central Indiana business manufacturing or assembly facilities. Some Central Indiana businesses with subzones include Eli Lilly & Company, Brightpoint, Thomson, SMC Corporation, Alpine Electronics and RollsRoyce. All counties in Indiana (except Vermillion, Union, Randolph, Jay, Blackford, Steuben, and Lagrange) have ASF Foreign Trade Zone designation which allows all commercial and business zoned properties access to the Foreign Trade Zone program quickly and inexpensively. Source: The Greater Indianapolis Foreign Trade Zone (www.inzone.org)
The 9-county Indianapolis Region includes Boone, Hamilton, Hancock, Hendricks, Johnson, Madison, Marion, Morgan and Shelby counties. Last updated 3/13/2013
Indy Partnership 317-236-6262 or Toll Free 1-877-236-4332 E-mail:
[email protected] Website: www.indypartnership.com
Indianapolis Region
Largest Manufacturers Largest Regional Manufacturers Regional Employees 10,735
Marion
Pharmaceuticals
Rolls-Royce
4,650
Marion
Gas turbine engines
Roche Diagnostic Corporation
4,300
Marion
Surgical & medical instruments
Allison Transmission
2,800
Marion
Commercial-duty transmissions
Dow AgroSciences
1,800
Marion
Agricultural, chemical & biotechnology
UTC Climate Controls & Security
1,540
Marion
Heating, air conditioning & security
ConAgra Foods Sports Licensed Division of the Adidas Group Keihin Indiana Precision Technology
1,400
Marion
Butter, pies, energy bars
1,200
Marion
Licensed apparel
1,050
Hancock
Motor vehicle parts
Q-Edge
1,000
Hendricks
Computers
Raytheon
1,000
Marion
Defense electronics
Red Gold
1,000
Madison
Tomato-based food products
Knauf Insulation
970
Fiberglass insulation
Allegion
900
Security solutions, including Schlage & Von Duprin
Nestle USA
700
Shelby Hamilton & Marion Madison
SMC Corporation of America
690
Hamilton
Pneumatics
Coca-Cola Bottling Company
635
Marion
Soft drinks
Ryobi Die Casting USA
600
Harlan Bakeries
600
Nice-Pak Products
570
Praxair Surface Technologies
500
Shelby Hendricks & Marion Morgan & Hendricks Marion
Rexnord
500
Marion
Bearings
PK USA
500
Shelby
Automotive body & chassis parts/plastic injection
Remy International
490
Madison
Automobile alternators and generators
Indiana Mills & Manufacturing
475
Hamilton
Safety belts & tie downs
Company Eli Lilly and Company
County
The 9-county Indianapolis Region includes Boone, Hamilton, Hancock, Hendricks, Johnson, Madison, Marion, Morgan and Shelby counties. Last Updated 11/4/2014
Products
Ready-to-drink beverages
Motor vehicle transmission and power train parts Bakery products Sanitary and disinfectant products Coatings
Indy Partnership 317-236-6262 or Toll Free 1-877-236-4332 E-mail:
[email protected] Website: www.indypartnership.com
Indianapolis Region
Largest Manufacturers Largest Regional Manufacturers Continued Regional Employees 460
Morgan
Metal stamping & automotive suspension parts
Tube Processing
450
Marion
Fabricated pipe and pipe fitting
Ambu (formerly King Systems)
420
Hamilton
Varsity Brands (formerly Herff Jones)
400
Marion
Scholastic recognition and education products
Vertellus Specialties
400
Marion
Specialty chemicals
NSK Precision America
400
Johnson
Ball & roller bearings
Steel Dynamics
390
Hendricks
Stanley Security Solutions
375
Marion
Electrical security systems
Indiana Automotive Fasteners
375
Hancock
Elsa LLC
350
Madison
Ingredion
350
Marion
Automotive nuts, bolts & screws Automotive components, including fuel tanks & exhaust systems Starch products
Pilkington North America
350
Shelby
Porter Engineered Systems
350
Hamilton
KYB Manufacturing
350
Johnson
Automotive glass Automotive armrests & headrests, linear & rotary recliners and mechanisms Shocks and struts
Major Tool & Machine
340
Marion
Material conversion, machining, fabrication
Con Agra Foods
340
Marion
Skojdt-Barrett Foods
325
Boone
Baby food and fruit purees
Grundfos/Peerless Pump
300
Marion
Vertical pumps
Maplehurst Bakeries
300
Hendricks
Bakery products
Aircom Manufacturing
300
Marion
Endress+Hauser
300
Johnson
Meritor Mitsubishi Heavy Industrial Climate Control
250
Hendricks
250
Johnson
Company TOA USA
County
Products
Medical devices
Steel bars
Sheet metal, machining, injection molding Industrial measurement and automation equipment Axle, brake and suspension solutions Automotive air conditioning systems
Sources: Indianapolis Business Journal, Reference USA, Indy Chamber, Indy Partnership, 2013-2014
The 9-county Indianapolis Region includes Boone, Hamilton, Hancock, Hendricks, Johnson, Madison, Marion, Morgan and Shelby counties. Last Updated 11/3/2014
Indy Partnership 317-236-6262 or Toll Free 1-877-236-4332 E-mail:
[email protected] Website: www.indypartnership.com
Indianapolis Region
Manufacturing Employment & Wages Employment and Wages for Selected Manufacturing Occupations Number of Employees*
Occupation Title
Hourly Wage** Entry*** Median
Engineers Operating engineers/other construction equipment operators Industrial engineers Mechanical engineers Electrical engineers Materials engineers Chemical engineers Aerospace engineers Electronics engineers, except computer Health and safety engineers Engineers, all other
Total Engineers
3,290 2,930 3,220 1,310 600 NA 240 720 110 1,180
$16.21 $24.19 $24.62 $25.71 $25.56 NA $28.55 $30.38 $23.74 $26.12
$28.82 $33.73 $35.97 $39.58 $39.39 NA $41.93 $41.43 $32.53 $39.55
13,600+
-
-
820 760 430 110 310
$17.34 $15.94 $16.13 $24.67 $15.44
$28.47 $22.53 $27.54 $35.42 $26.68
2,430+
-
-
Engineering Technicians Electrical and electronic engineering technicians Industrial engineering technicians Mechanical engineering technicians Aerospace engineering & operations technicians Engineering technicians, except drafters, all other
Total Engineering Technicians
Machinists Machinists Cutting, punching, and press machine setters, operators, and tenders, metal and plastic Molding, coremaking, and casting machine setters, operators, and tenders, metal and plastic Grinding, lapping, polishing, and buffing machine tool setters, operators, and tenders, metal and plastic Computer-controlled machine tool operators, metal and plastic Extruding and drawing machine setters, operators, and tenders, metal and plastic Multiple machine tool setters, operators, and tenders, metal and plastic Cutting and slicing machine setters, operators, and tenders
The 9-county Indianapolis Region includes Boone, Hamilton, Hancock, Hendricks, Johnson, Madison, Marion, Morgan and Shelby counties. Last updated 9/22/2014
3,820
$11.85
$19.00
2,590
$10.40
$15.61
1,610
$11.50
$15.96
880
$10.29
$15.83
2,600
$10.36
$15.09
390
$9.81
$15.41
440
$8.83
$16.43
450
$10.67
$14.74
Indy Partnership 317-236-6262 or Toll Free 1-877-236-4332 E-mail:
[email protected] Website: www.indypartnership.com
Indianapolis Region
Manufacturing Employment & Wages (continued) Occupation Title
Number of Employees*
Hourly Wage** Entry*** Median
Machinists (continued) Lathe and turning machine tool setters, operators, and tenders, metal and plastic Crushing, grinding, and polishing machine setters, operators, and tenders Rolling machine setters, operators, and tenders, metal and plastic Metal-refining furnace operators and tenders Forging machine setters, operators, and tenders, metal and plastic Computer numerically controlled machine tool programmers, metal and plastic
Total Machinists
410
$11.72
$16.50
380
$10.88
$14.65
370
NA
NA
90
$12.85
$17.42
440
$12.36
$16.52
420
$15.67
$21.06
14,890+
-
-
10,870 1,480 80 6,240 3,630 2,060 540 16,300
$10.57 $8.49 $15.62 $9.74 $8.48 $27.63 $11.51 $8.91
$14.90 $12.79 $22.56 $15.87 $12.70 $40.74 $18.09 $12.51
41,200+
-
-
690 380 110 140
$16.76 $13.11 $15.39 $13.75
$26.82 $20.98 $22.07 $23.03
1,320+
-
-
6,720
$15.88
$25.97
Other Skilled Production Workers Industrial truck and tractor operators Electrical and electronic equipment assemblers Aircraft structure, surfaces, rigging & systems assemblers Inspectors, testers, sorters, samplers, and weighers Packaging and filling machine operators and tenders Industrial production managers Maintenance workers, machinery Team Assemblers
Total Other Skilled Production Workers
Drafters/Designers Mechanical drafters Commercial and industrial designers Drafters, all other Electrical and electronics drafters
Total Drafters/Designers Supervisors First-Line Supervisors of Production and Operating Workers
*Employment data are for the Indianapolis-Carmel, Anderson, Bloomington, Columbus, Kokomo, Lafayette and Muncie MSAs. **Wage data are for the Indianapolis-Carmel MSA. th ***Entry wages = wages in the lower 10 percentile. Source: US Bureau of Labor Statistics, OES, May 2013
The 9-county Indianapolis Region includes Boone, Hamilton, Hancock, Hendricks, Johnson, Madison, Marion, Morgan and Shelby counties. Last updated 9/22/2014
Indy Partnership 317-236-6262 or Toll Free 1-877-236-4332 E-mail:
[email protected] Website: www.indypartnership.com
Indianapolis Region
Manufacturing Job Applicants The following are manufacturing occupations job applicants looking for work in Central Indiana. Occupation Title
Applicants
Assemblers and fabricators, all other Production workers, all other Helpers--production workers Laborers and freight, stock, and material movers, hand Industrial truck and tractor operators Packers and packagers, hand First-line supervisors/managers of production and operating workers Shipping, receiving, and traffic clerks Maintenance and repair workers, general Inspectors, testers, sorters, samplers, and weighers Engineering technicians, except drafters, all other Packaging and filling machine operators and tenders Machinists Maintenance workers, machinery Machine feeders and offbearers Material moving workers, all other Engineers, all other Electrical and electronics repairers, commercial and industrial equipment Industrial production managers Mechanical engineers Electro-mechanical technicians Mechanical engineering technicians Electrical engineers Mechanical drafters Industrial engineers Industrial engineering technicians Chemical engineers
9,533 6,885 5,997 4,197 2,449 2,203 1,641 1,548 1,333 1,239 1,126 1,052 930 607 553 533 298 265 237 232 139 133 130 106 104 66 31
Source: Indiana Department of Workforce Development, September 2014. Data represent all active applicants in the Indiana Career Connect system (www.indianacareerconnect.com) from September 2012-August 2014 for the Indianapolis Regional Labor Shed, which is composed of the following counties: Bartholomew Boone Brown Hancock Hendricks Henry Monroe Montgomery Morgan
Clinton Howard Owen
Decatur Jackson Putnam
Delaware Johnson Rush
Grant Greene Lawrence Madison Shelby Tippecanoe
Hamilton Marion Tipton
Note: Data do not include applicants from private job matching services like Craig’s List, Monster and CareerBuilder. Therefore, the data are likely to under-represent the total available application pool in the labor shed. Note: Data are reported by target occupation. Some applicants have indicated more than one target occupation. This means that some occupations that require similar skills may be subject to “double counting” of applicants when added together.
The 9-county Indianapolis Region includes Boone, Hamilton, Hancock, Hendricks, Johnson, Madison, Marion, Morgan and Shelby counties. Last updated 9/22/2014
Indy Partnership 317-236-6262 or Toll Free 1-877-236-4332 E-mail:
[email protected] Website: www.indypartnership.com
Indiana
Colleges & Universities 4 Year 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15.
Ball State University Indiana State University Indiana University Indiana University East Indiana University Kokomo Indiana University Northwest Indiana University South Bend Indiana University Southeast IUPUI Columbus IUPUI Fort Wayne IUPUI Indianapolis Purdue University Purdue University Calumet Purdue University North Central University of Southern Indiana
2 Year 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25.
Ivy Tech Anderson Ivy Tech Bloomington Ivy Tech Columbus Ivy Tech E. Chicago Ivy Tech Elkhart Ivy Tech Evansville Ivy Tech Fort Wayne Ivy Tech Gary Ivy Tech Indianapolis Ivy Tech Kokomo Ivy Tech Lafayette Ivy Tech Lawrenceburg Ivy Tech Logansport Ivy Tech Madison Ivy Tech Marion Ivy Tech Michigan City Ivy Tech Muncie Ivy Tech Richmond Ivy Tech Sellersburg Ivy Tech South Bend Ivy Tech Terre Haute Ivy Tech Valparaiso Ivy Tech Warsaw Vincennes University Vincennes University Jasper
1. 2. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13.
Ancilla Domini College Anderson University Bethel College Butler University Calumet College of Saint Joseph Christian Theological Seminary Concordia Theological Seminary DePauw University Earlham College Franklin College Goshen College Grace College
Private 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25.
Hanover College Holy Cross College Huntington University Indiana Tech Indiana Wesleyan University Manchester University Marian University Martin University Oakland City University Rose-Hulman Institute of Technology Saint Joseph’s College Saint Mary-of-the-Woods College
The 9-county Indianapolis Region includes Boone, Hamilton, Hancock, Hendricks, Johnson, Madison, Marion, Morgan and Shelby counties. Last updated 2/26/2014
26. 27. 28. 29. 30. 31. 32. 33. 34. 35. 36.
Saint Mary’s College Saint Meinrad School of Theology Taylor University Trine University University of Evansville University of Indianapolis University of Notre Dame University of Saint Francis Valparaiso University Wabash College Western Governors University (online only)
Indy Partnership 317-236-6262 or Toll Free 1-800-236-4332 E-mail:
[email protected] Website: www.indypartnership.com
Indiana
Engineering Schools
One of the top university research parks in the United States. Undergraduate Rankings Biological/Agricultural Engineering Production/Operations Management Quantitative Analysis Industrial/Manufacturing Engineering Aerospace/Aeronautical/Astronautical Engineering #4 Civil Engineering #7 Mechanical Engineering #9 Electrical/Electronic/Communications Engineering #10 Supply Chain Management/Logistics #1 #3 #4 #4 #5
#1 #5 #6 #8 #9 #10 #10
Graduate Rankings Biological/Agricultural Engineering Aerospace/Aeronautical Engineering Civil Engineering Industrial/Manufacturing/Systems Engineering Computer Engineering Mechanical Engineering Electrical/Electronic/Communications Engineering
The Nation’s #1 School of Engineering. (where Doctorate is not offered)
#1 #1 #1 #1 #1
Chemical Engineering Civil Engineering Computer Engineering Electric/Electronic Engineering Mechanical Engineering
Bethel College, Earlham College, Franklin College, Indiana State University, Manchester College and University of Indianapolis offer 3/2 or dual degree engineering programs.
Source: US News and World Report, 2014
The 9-county Indianapolis Region includes Boone, Hamilton, Hancock, Hendricks, Johnson, Madison, Marion, Morgan and Shelby counties. Last Updated 11/26/2014
Indy Partnership 317-236-6262 or Toll Free 1-877-236-4332 E-mail:
[email protected] Website: www.indypartnership.com
Indianapolis Region
Manufacturing-Related Programs Program
Degrees Offered
Colleges and Universities
Engineering Chemical Engineering
Bachelor to PhD
Rose-Hulman, Purdue University
Computer Engineering
Bachelor to PhD
Franklin College, Indiana Tech, Taylor University, University of Indianapolis
Electrical and Computer Engineering
Master
Electrical Engineering
Bachelor to PhD
Electronics Engineering
Associate
Indiana University-Purdue University Indianapolis (IUPUI) IUPUI, Purdue University, Rose-Hulman, Franklin University, Indiana Tech, University of Indianapolis, Lincoln College of Technology
Electronic Systems Engineering
Associate
Lincoln College of Technology
Engineering, General
Bachelor, Master
Butler University
Engineering Management
Master
Rose-Hulman, Indiana Tech
Engineering Science
Associate, Bachelor
Manchester College
Industrial & Manufacturing Engineering
Associate, Bachelor
Indiana Tech
Industrial Engineering
Bachelor to PhD
Purdue University
Interdisciplinary Engineering
Bachelor
Purdue University
Materials Engineering
Bachelor, Master
Mechanical Engineering
Bachelor to PhD
Multidisciplinary Engineering
Bachelor
Purdue University Franklin College, Indiana Tech, University of Indianapolis, Purdue University, Rose-Hulman, IUPUI Purdue University
Bachelor
Indiana State University
Associate
ITT Tech
Associate, Bachelor
Indiana State University
Bachelor
Purdue University
Engineering Technology Automation & Control Engineering Technology Computer & Electronics Engineering Technology Computer Engineering Technology Electrical and Computer Engineering Technology Electrical Engineering Technology
Associate, Bachelor
Ivy Tech, Purdue University, IUPUI
Electronics Engineering Technology
Bachelor
Indiana State University
Engineering Technology
Associate
Ivy Tech
Industrial Automation Engineering Technology
Bachelor
ITT Tech
Manufacturing Engineering Technology
Associate, Bachelor
Purdue University, Ball State University
Mechanical Engineering Technology
Associate, Bachelor
Packaging Engineering Technology
Bachelor
The 9-county Indianapolis Region includes Boone, Hamilton, Hancock, Hendricks, Johnson, Madison, Marion, Morgan and Shelby counties. Last updated 3/26/2014
Ivy Tech, Purdue University, Ball State, IUPUI, Indiana State University Indiana State University
Indy Partnership 317-236-6262 or Toll Free 1-877-236-4332 E-mail:
[email protected] Website: www.indypartnership.com
Indianapolis Region
Manufacturing-Related Programs Program
Degrees Offered
Colleges and Universities
Industrial Design Industrial (Consumer Product) Design
Bachelor
Purdue University
Bachelor to PhD
Indiana State University, Indiana UniversityBloomington
Industrial Quality and Safety Safety Management
Industrial Programs, Other Industrial Management
Bachelor
Purdue University
Industrial Technology
Associate to PhD
Ivy Tech, Purdue University, Ball State University
Advanced Manufacturing
Associate, Bachelor
Ivy Tech
Advanced Manufacturing Management
Certificate, Bachelor
Indiana State University
Manufacturing
Manufacturing Production and Operations
Associate
Ivy Tech
Welding
Certificate
Ivy Tech
Global Supply Chain Management
Master
Indiana University-Bloomington
Industrial Distribution
Bachelor
Purdue University
Operations and Supply Chain Management
Bachelor
Operations Management and Analysis
Bachelor to PhD
Supply Chain and Operations
Master
Franklin University, University of Indianapolis Ball State University, Indiana UniversityBloomington, Indiana State University Indiana University-Bloomington
Supply Chain Management
Bachelor
Indiana University-Bloomington, IUPUI
Computer Science—Machine Intelligence
Bachelor
Purdue University
Electronics and Computer Technology
Associate
Ivy Tech
Machine Tool Technology
Associate
Ivy Tech
Robotics
Certificate
Rose-Hulman
Technology Management
Bachelor
Indiana State University
Technology
Bachelor, Master
IUPUI
Supply Chain Management and Logistics
Technology and Manufacturing, Other
Source: Indy Partnership, 2014
The 9-county Indianapolis Region includes Boone, Hamilton, Hancock, Hendricks, Johnson, Madison, Marion, Morgan and Shelby counties. Last updated 3/26/2014
Indy Partnership 317-236-6262 or Toll Free 1-800-236-4332 E-mail:
[email protected] Website: www.indypartnership.com
Indianapolis Region
Advanced Manufacturing Announcements Reflex & Allen Group
CNH Parts & Service
July 2013 - Reflex & Allen Group, a manufacturer of pneumatic, electrical and fluid systems for truck and engine markets, announced plans to locate its operations in Indianapolis, creating up to 97 new jobs by 2014. The Italy-based company located and equipped its first U.S. facility in Indianapolis.
May 2013 - CNH Parts & Service, the product support division of agricultural and construction equipment maker CNH Global N.V. (NYSE: CNH), announced plans to expand its operations in Lebanon, creating up to 100 new jobs by 2014. The company will invest $13.3 million to lease and equip a 153,000sf, bringing the company's total footprint at the site to 1.2 million square feet. The new facility will include a new command and control operation for the company's extensive parts delivery system.
The Indiana Economic Development Corporation offered up to $500,000 in conditional tax credits and up to $28,000 in training grants based on the company's job creation plans. The city of Indianapolis approved additional tax abatement.
3D Parts Manufacturing, LLC June 2013 - 3D Parts Manufacturing, LLC, an additive plastics and metal parts manufacturer, announced plans to expand its operations in Indianapolis, creating up to 65 new jobs by the end of 2018. The company will invest $6 million to lease and equip 25,000sf of space in Indianapolis. The Indiana Economic Development Corporation offered 3D Parts Manufacturing, LLC, up to $625,000 in conditional tax credits and up to $75,000 in training grants based on the company's job creation plans. The city of Indianapolis supports the project
L&E Engineering Company May 2013 - L&E Engineering Company, a manufacturer of tube and sheet metal fabrications for the aerospace industry, announced plans to expand its operations in Greenwood, creating up to 52 new jobs by 2016. The company, which is a subsidiary of Franklin, Ohio-based Ferco Aerospace Group, will invest $3.7 million to add equipment and almost double the size of its existing facility. The Indiana Economic Development Corporation offered up to $400,000 in conditional tax credits and up to $50,000 in training grants based on the company's job creation plans. The city of Greenwood will consider additional tax abatement.
The 9-county Indianapolis Region includes Boone, Hamilton, Hancock, Hendricks, Johnson, Madison, Marion, Morgan and Shelby counties. Last Updated 11/22/2013
The Indiana Economic Development Corporation offered up to $650,000 in conditional tax credits and up to $100,000 in training grants based on the company's job creation plans. The city of Lebanon approved additional tax abatement.
Meritor November 2012 - Meritor (NYSE: MTOR), a global supplier to the commercial truck and industrial markets, announced plans to invest $1.4 million to consolidate its North American remanufacturing operations here, creating up to 82 new jobs by the end of 2013. As part of the project, the Troy, Mich.-based company will also create a center of excellence for remanufacturing at its existing 275,300 square-foot facility in Plainfield. The Indiana Economic Development Corporation offered up to $450,000 in conditional tax credits and up to $50,000 in training grants based on the company's job creation plans. The town of Plainfield will consider additional property tax abatement.
Tsuda Industries Co., Ltd October 2012 - Tsuda Industries Co., Ltd., a Japanese automotive parts supplier announced the company's plans to locate its first North American facility in Hancock County, creating up to 116 new jobs by 2016. Tsuda, which manufactures a variety of automotive transmission and chassis components, will invest $56.2 million to construct and equip a production facility on 20 acres. The Indiana Economic Development Corporation offered up to $1,160,000 in conditional tax credits and up to $150,000 in training grants based on the company's job creation plans. Hancock County approved additional property tax abatement.
Indy Partnership 317-236-6262 or Toll Free 1-877-236-4332 E-mail:
[email protected] Website: www.indypartnership.com
Indianapolis Region
Incentives Incentive/Credit
Description
Criteria /Requirements
Real Property Tax Abatement IC 6-1.1-12.1-17
Phase in of real property tax obligation over one to ten year period.
Granted to a company according to local qualification criteria based on new and retained jobs, wages and economic impact of project. Prior approval of local government agency. Approval must happen before construction permits are pulled.
Personal Property Tax Abatement: Manufacturing, Research and Development, Information Technology and Logistics/Distribution Equipment IC 6-1.1-12.1-17
Phase in of personal property (used directly in production, R&D, distribution processes) tax obligation over a one to ten year period.
Granted to a company according to local qualification criteria based on new and retained jobs, wages and economic impact of project. Prior approval of local government agency. Approval must happen before equipment is operational.
Sales Tax Exemption Research and Development Equipment IC 6-2.5-5
Research and development equipment is exempt from state sales tax.
No Requirements
Sales Tax Exemption – Motorsports IC 6-2.5-5
Transactions involving tangible personal property comprising any part of a professional motor racing vehicle excluding tires and accessories are exempt from state sales tax.
Tangible personal property must be owned, operated or leased by a professional racing team qualify.
Sales Tax - Personal Property IC 6-2.5-5
Machinery, tools and equipment acquired for direct use in the direct production, manufacture, fabrication, assembly, processing, refining, finishing of tangible personal property are tax exempt. Tangible personal property acquired for resale is also qualified for tax exemption.
Exemption does not apply to transactions involving distribution equipment or transmission equipment acquired by a public utility engaged generating electricity. Meet qualifications set by the Indiana Utility Regulatory Commission.
Sales Tax – Utilities IC 62.5-5
Utilities used in certain manufacturing capacities are tax exempt.
Utilities include electrical energy, natural or artificial gas, water, steam and steam heat qualifications set by the Indiana Utility Regulatory Commission.
Economic Development for a Growing Economy (EDGE) - New Jobs IC 63.1-13
This program provides refundable tax credits based on the additional payroll for new jobs created in Indiana. EDGE can be awarded on eligible gross payroll for a period not to exceed 10 years
IEDC approval. * Significant new Indiana job creation * Significant local participation * Average wage exceeds the industry sector average (NAICS) * EDGE agreement required * Company stays for at least two years after the last year in which a credit is claimed * Annual verification of amount of individual income taxes withheld will trigger release of credits.
The 9-county Indianapolis Region includes Boone, Hamilton, Hancock, Hendricks, Johnson, Madison, Marion, Morgan and Shelby counties. Last updated 3/22/12
Indy Partnership 317-236-6262 or Toll Free 1-877-236-4332 E-mail:
[email protected] Website: www.indypartnership.com
Incentive/Credit
Description
Criteria /Requirements
Hoosier Business Investment Tax Credit (HBITC) IC 6-3.1-26
Tax credits for qualified investment made in Indiana facility.
IEDC approval. * Increase total earnings of employee * Economically sound project that will benefit Indiana * Major factor in decision to move forward * Overall positive fiscal impact * Average wage will be at least 150 percent of the hourly minimum wage Twenty percent of the qualified investment capital provided to a qualified Indiana business * Company must maintain operations for at least ten years during the term that the tax credit is available. * Annual report regarding new employees and average wage.
Headquarters Relocation Tax Credit IC 6-3.1-30
Provides non-refundable tax credits to relocating corporate headquarters based upon relocation costs.
IEDC approval. Credit is up to 10 percent of the qualified investment and carry forward not to exceed nine consecutive years. Currently maintains HQ outside Indiana and no previous HQ in Indiana. Prior year international revenue of at least $100M. Commit contractually to moving HQ.
21st Century Fund IC 5-2816
The Indiana 21st Century Research and Technology Fund was created to stimulate the process of diversifying the State's economy by developing and commercializing advanced technologies in Indiana.
IEDC Board approval. State Budget Committee review (public meeting).
Indiana Research Development Tax Credit (R&D) IC 6-3.1-4
Tax credit based on qualified research expense incurred for research conducted in Indiana.
* Credit is the lesser of $1M or the increment of Indiana qualified research expenses over the taxpayer's base amount multiplied by 15 percent. * May be claimed when filing state income taxes by including the IT-20 REC form * Carry forward and unused credit for 10 years
Venture Capital Investment Tax Credit IC 6-3.1-24
Investors who provide qualified debt or equity capital to Indiana companies receive a credit against their Indiana income tax liability.
Patent Income Tax Exemption IC 6-3-2-21.7
Exempt from certain income derived from qualified utility and plant patents. The exemption percentage decreases over the next five years to 10 percent in the 10th year.
IEDC approval. Available to any taxpayer who is an individual or entity that has any state tax liability. A taxpayer must apply to the IEDC for a certification that the proposed investment plan would qualify for a credit. The total amount of tax credits any calendar year may not exceed twelve and a half million dollars ($12,500,000). The patent income exemption applies only to companies with 500 or fewer employees. Qualified taxpayers are eligible for 50 percent of patent income for each of the first five years.
The 9-county Indianapolis Region includes Boone, Hamilton, Hancock, Hendricks, Johnson, Madison, Marion, Morgan and Shelby counties. Last updated 3/22/12
Indy Partnership 317-236-6262 or Toll Free 1-877-236-4332 E-mail:
[email protected] Website: www.indypartnership.com
Incentive/Credit
Description
Criteria /Requirements
Certified Technology Parks (CTP) IC 36-7-32
A state-designated area within a city, town or county where at least one business is primarily engaged in high technology activity and creating jobs. A CTP is supported by higher education or a private research-based institute. CTP granted by IEDC
IEDC approval. *Investments in a CTP may qualify for a property tax credit. A CTP may access an incremental tax fund created from business sales taxes of businesses within the park and individual income taxes from companies within the park (see Certified Technology Park Grant Fund.) Up to $5 million for leasing, construction or purchasing of capital assets located in CTP. * CTP applied for by local community. * Job creation * Engaged in high technology activity. * CTP may have other local requirements. * If a business is seeking EDGE credits, an ordinance must be adopted recommending the granting of EDGE credits.
Community Revitalization Enhancement District Tax Credit (CRED) IC 6-3.1-19
Tax credit available to companies located in a designated CRED. Credits are for 25 percent of qualified investment.
IEDC approval. There must be no reduction or cessation of operations in Indiana to locate within CRED. If a business is seeking EDGE credits, an ordinance must be adopted recommending the granting of EDGE credits.
Industrial Development Grant Fund (IDGF) IC 5-28-25
IDGF grant is awarded to eligible units of government to help in meeting the infrastructure needs of the new or expanding facility. Up to 50 percent of eligible off-site infrastructure may be awarded.
IEDC approval. Contributions made to tax-exempt, 501c organizations. * Credits are awarded to 501c's for distribution to individuals or businesses. * Local community matching funds * Submit description of costs and map and design of proposed improvements.
Neighborhood Assistance Credit
Tax credits for corporations or individuals who contribute to an organization to build public-private partnerships in economically disadvantaged areas. The credit is equal to 50 percent of contribution to organization. Credit is applied against Indiana income tax liability.
A building or complex of buildings which: * contains 300,000 interior square feet or greater. * Was placed in service at least 20 years ago. * At least 75 percent of the interior floor space has been vacant for at least two years. * Only contribute to an IEDC approved neighborhood organization and plan.
Industrial Recovery Site Tax Credit IC 6-3.1-11
Tax credits are based on a percentage of qualified investment for rehabilitation of property made to an existing building which meets square footage, age and vacancy requirements. Credits are applied to state income tax liability and can be carried over.
No Requirements
Enterprise Zone Credits
Various incentive opportunities exist for companies within EZ. Available credits to qualified businesses: Loan Interest Tax Credit (IC 6-3.1-7), Gross Income Tax Exemption, Wage Exemptions, Investment Credit and Investment Cost Credit (IC 6-3.1-10).
IEDC approval. * Credits are assignable * Limited carry forward of credits * Requirements are specific to individual incentive programs.
The 9-county Indianapolis Region includes Boone, Hamilton, Hancock, Hendricks, Johnson, Madison, Marion, Morgan and Shelby counties. Last updated 3/22/12
Indy Partnership 317-236-6262 or Toll Free 1-877-236-4332 E-mail:
[email protected] Website: www.indypartnership.com
Incentive/Credit
Description
Criteria /Requirements
Vacant Building Tax Abatement IC 6-1.1-12.1-16
One year abatement based on the occupation of a qualifying vacant building. Granted to a company according to local qualifications based on occupying a previously vacant building. *Must be used for commercial or industrial purposes
*Prior approval by local government agency. Approval must happen before occupying the facility. *Three years at 100% if certain conditions met
Indiana Training Grant Programs:
Two year grant awarded directly to the company for reimbursement of eligible training costs associated with a project. Grant can be up to 50 percent of total training budget with cap of $200,000.
IEDC approval.
Indiana at Work (Work Keys)
State job profiling system for new or existing Indiana businesses providing evidence of workforce readiness.
Award based on capital investment, quality of jobs, quality of training, number of employees trained and impact on economy operations.
Site Assessment Grant (SAGI), Low Interest Loan Incentive (LILI), Petroleum Remediation Grant Incentive (PRGI) and Federal Grant Matching Incentive (FGMI)
Various grants and loans available for environmental investigation, remediation, demolition and petroleum remediation at brownfield sites.
* LILI - up to $7,500 with interest rates of 2.5 or 3.0 percent. Private parties can be co-applicants with local government. * PRGI - up to $250,000. Private parties can be coapplicants. * FGMI - matching grants up to 20 percent of federal brownfields award. Only available to local government. Maximum amount of credit is equal to the lesser of 10 percent of the qualified investment or $100,000. Interest in redevelopment of brownfield site(s).
Voluntary Remediation Tax Credits
Credit available for voluntary cleanup at eligible brownfield sites
Criteria are specific to individual financing programs. * Remediation plan developed * Application filed with IFA * A qualified investment certification must be received prior to start of remediation. * Local legislative body must pass resolution approving the brownfield redevelopment project and credit.
Financing Programs
There are several financing vehicles for companies to review on both a state and local level. Both taxable and tax exempt bonds, lease financing, Tax Increment Financing (TIF), SBA loans through CDCs, Indiana Port Commission and various utility loan programs.
Requirements are specific to individual financing programs.
Brownfield Tax Reduction/Wavier
A partial or full waiver of delinquent tax liability for Brownfield properties
A history of the property is needed and outline a remediation and reuse plan to qualify for approval of the reduction/waiver. *Requires approval from various government agencies, and IFA *Must provide proof of ownership of property and proof that the owner was not involved in cause of environmental issues. *The cleanup and reuse must occur by date provided by applicant for the reduction/waiver to become permanent.
Skills Enhancement Fund IC 5-28-7
The 9-county Indianapolis Region includes Boone, Hamilton, Hancock, Hendricks, Johnson, Madison, Marion, Morgan and Shelby counties. Last updated 3/22/12
Indy Partnership 317-236-6262 or Toll Free 1-877-236-4332 E-mail:
[email protected] Website: www.indypartnership.com
Description
Criteria /Requirements
Renewable Energy Property Tax Exemption
Incentive/Credit
Commercial and industrial operations, as well as residential households, with systems that generate energy using solar, wind, hydropower, or geothermal resources – including geothermal heat pumps – are exempt from property tax.
* Exemption is allowed every year that a qualifying system functions. * The entire renewable energy system and affiliated equipment that is unique to the system, including equipment for storage and distribution, are exempt from the property tax. * The exemption applies to both real property and mobile homes equipped with renewable energy systems, and may only be claimed by property owners.
Information Technology Personal Property Exemption
Enterprise information technology equipment is exempt from personal property taxation for a period agreed to by local designating body.
* Enterprise information technology includes: servers and routers, equipment within the “enterprise” or “data center” for networking or data storage, and generators for uninterrupted power supply to data center systems. * Equipment cannot include computer hardware designed for single user, workstation, or departmental level use. * Eligible businesses include: business operates one or more facilities for computing, networking, or data storage; entity is located in a facility or data center in Indiana; investment is at least $10,000,000 in personal and real property and average employee wage of the entity is at least 125% of the county average wage.
The 9-county Indianapolis Region includes Boone, Hamilton, Hancock, Hendricks, Johnson, Madison, Marion, Morgan and Shelby counties. Last updated 3/22/12
Indy Partnership 317-236-6262 or Toll Free 1-877-236-4332 E-mail:
[email protected] Website: www.indypartnership.com
Indianapolis Region
Quality of Life With the nation’s 13th largest city at its center and no shortage of thriving towns and small communities throughout the nine counties, the Indianapolis Region draws attention for being vibrant and progressive as well as culturally rich and hospitable. Indianapolis Cultural Trail The Indianapolis Cultural Trail: A Legacy of Gene & Marilyn Glick is a world-class urban bike and pedestrian path that connect neighborhoods, Cultural Districts and entertainment amenities, and serves as the downtown hub for the entire central Indiana greenway system. The 8 mile trail provides downtown connectivity, bicycle friendliness and urban walkability to the city.
Indianapolis Museum of Art Now in its 130th year, the Indianapolis Museum of Art, the 9th oldest and 8th largest art museum in the United States, also is making a bold outdoor cultural statement. Its $25 million Virginia B. Fairbanks Art & Nature Park, located on 100 acres of untamed woodlands, wetlands, a lake and meadows adjacent to the museum, is one of the largest museum art parks in the country. The art park, completed in 2010, caps off a recent $74 million expansion that features three new wings and 50 percent more gallery space. Visit www.indypartnership.com for information on additional arts and cultural amenities.
“Indianapolis is the best of both worlds – all the sophistication of a modern metropolis, while retaining its hometown Hoosier demeanor.” - Home and Away magazine The Children’s Museum of Indianapolis The Children’s Museum of Indianapolis is the world’s largest children’s museum, welcoming more than one million visitors each year. The 472,900 square-foot facility houses more than 12,000 artifacts. Visitors can explore the physical and natural sciences, history, world cultures, and the arts; see how dinosaurs lived 65 million years ago in Dinosphere: Now You’re In Their World ©; experience Dale Chihuly’s five-story Fireworks of Glass; examine children’s impact in shaping history in The Power of Children: Making a Difference; and explore the cosmos at the SpaceQuest Planetarium. Top Communities and Housing Indianapolis is the most affordable metropolitan home market in the United States, according to multiple rankings and surveys. Throughout the entire Region, scores of exceptional communities offer diverse and plentiful lifestyle options, from college towns and planned communities to mid-sized cities and small towns. Whether you’re looking for quiet country roads, bustling, child-filled soccer fields and parks, or sophisticated urban living, the Indianapolis Region has something for everyone. The town of Franklin, located in Johnson County just south of Indianapolis, ranked 9th in the nation and Brownsburg, located in Hendricks County just west of Indianapolis, ranked 18th on the 2011 CNNMoney.com “Where Homes Are Affordable” top 25 list. CNNMoney.com named the town of Fishers, another of our local communities, one of its “Top Ten Places to Live” in 2010.
The 9-county Indianapolis Region includes Boone, Hamilton, Hancock, Hendricks, Johnson, Madison, Marion, Morgan and Shelby counties Last Updated 6/28/2013
Indy Partnership 317-236-6262 or Toll Free 1-877-236-4332 E-mail:
[email protected] Website: www.indypartnership.com
Indianapolis Region
Contact Us Indy Partnership Staff
Marty Vanags Vice President, Regional Economic Development 317-464-2227 (office) 317-646-9350 (cell)
[email protected] Christy Plummer Administrative Assistant 317-464-2226 (office)
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Business Development Troy Whittington Business Development Director 317-464-2205 (office) 812-325-5588 (cell)
[email protected] Paula Galloway Business Development Manager 317-464-2204 (office) 317-695-6613 (cell)
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Research Jeff Barnett Research Director 317-464-2203 (office) 317-919-1444 (cell)
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The 9-county Indianapolis Region includes Boone, Hamilton, Hancock, Hendricks, Johnson, Madison, Marion, Morgan and Shelby counties. Last Updated 2/26/2014
Indy Partnership 317-236-6262 or Toll Free 1-877-236-4332 E-mail:
[email protected] Website: www.indypartnership.com
