Pro-Business Benefits

Jasper County, its municipalities and the State of Indiana have consistently demonstrated their collective commitment to maintaining and enhancing an attractive business environment.  Pro-business attitudes, conservative fiscal management and reasonable tax rates combine to make Jasper County an excellent business location.  The most common business incentives utilized by Jasper County and its communities are:

Property Tax Abatement – provides up to 100% for up to 10 years on new investment in Real Property and 20 years on new investment in Personal Property;

Tax Increment Financing (TIF) – allows the property taxes generated by new project capital investment to be utilized to retire debt or pay infrastructure costs related to the project;

Targeted Infrastructure Assistance – improvements to public infrastructure needed to support new private sector investment.

The Indiana Economic Development Corporation is the state’s lead organization responsible for developing and negotiating incentive packages designed to stimulate business expansion and recruitment.  They coordinate a wide range of tax credit and related programs that reward job creation and capital investment.

Selected Indiana and Jasper County Benefits, Incentives and Taxes
Corporate Income Tax – 6.25% using Single-Sales Factor and decreasing to 4.9% by 2021
Corporate Inventory Tax – none
Credit Rating – Indiana is AAA according to Fitch, Moody’s, and Standard & Poor’s
Economic Development for a Growing Economy (EDGE) Tax Credit – negotiated and refundable for new job creation for up to 10 years
Gross Receipts Tax – none
Hoosier Business Investment (HBI) Tax Credit – up to 10% of investment in new buildings, improvements and equipment and may be carried forward 9 years
Personal Income Tax – 3.23% plus a Local Option Income Tax for Jasper County of 2.864%
Property Taxes – real and personal property assessed at 100% of market value with Tax Caps based on Assessed Value – Homeowners 1%, Apartments/Agricultural Land 2%, Business Properties 3%
Property Tax Rate – Average 2016 rate of $1.209 per $100 of Assessed Valuation in Jasper County
Research and Development Tax Credit – equals 5%-10% of increased R&D expenses and may be carried forward for up to 10 years
Right-To-Work – yes
Sales and Use Tax – 7% with exemptions for new R&D equipment, manufacturing (raw materials/equipment/utilities) and wholesale (if used directly in production/sales for interstate commerce)
Skills Enhancement Fund – reimbursement of up to 50% of training expenses over a 2-year period
Unemployment Insurance – the New Employer Rate is 2.5% on a Taxable Wage Base of $9,500 and paid for 36 months after which an experience/merit rate is calculated