Indiana For The Bold Business Incentives
Indiana For The Bold Business Incentives
The Indiana For The Bold program offers a variety of incentives to relocate your business, expand it, or start one in the state. The incentives are largely built around tax incentives for job creation, operational expenses, and capital investment.
Programs
Small Business Credit Initiative and Loan Program:
Indiana's State Small Business Credit Initiative (SSBCI) is on a mission to empower Hoosier entrepreneurs, startups, and small businesses. Our goal is to provide access to capital and create ecosystems of opportunity, while promoting economic equity across the state. The IEDC is allocating $99 million to venture capital investments in early-revenue companies and establishing The Legend Fund, a loan participation program to support underserved entrepreneurs and small businesses by providing operating capital loans.
Our commitment to equity is evident with at least 37 percent of our funding dedicated to traditionally underserved businesses. We are collaborating with Elevate Ventures to increase investments in underrepresented founders and work with mission-oriented lenders to provide small business owners with essential capital. By catalyzing private investment, we aim to leverage $10 in private investment for every $1 of SSBCI funding, mobilizing local and regional capital to fuel Indiana's innovation and entrepreneurial ecosystem.
The Legend Fund supports Indiana small businesses by increasing access to business loans. We know that the growth of small businesses is vital to Indiana’s economy and that entrepreneurs play a significant role in promoting economic development in our state.
The Legend Fund increases the amount of capital available to entrepreneurs and small businesses and focuses on putting capital in the hands of historically underserved communities. The Legend Fund will distribute up to $29M to mission-driven local lenders to incentivize more lending to Indiana small businesses. Participating lenders manage loan terms, ensuring they align with borrowers' needs. Pre-apply with a compatible lender today!
The Legend Fund lending partners can make loans between $5,000 and $1,000,000 for small-business operating capital needs through the program.
Relocation Program: 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 jobs 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 jobs creation. The credit certification is phased in annually for up to 20 years based upon the employment ramp-up outlined by the business.
Business Expansion Program
Our team is committed to fostering innovation and long-term growth through our financial incentives. Our innovative programs, including tax credits, are designed to reduce costs and support your business’s investment potential. By partnering with IEDC, businesses can lower operational costs and channel savings into innovative growth opportunities. Our financial incentives are tailored to your business's needs, ensuring financial excellence and a prosperous future in Indiana’s dynamic economy.
Explore Indiana Communities
You've learned about the program. Now explore Indiana communities to see what it's like to live and work in the places where your business could grow.
Explore:
- LookyLOO Reviews of Indiana Cities
- Neighborhood Guides
- Local Reviews
- Schools & Quality of Life
- Save Indiana Communities to Your Project Book