Capital Investment = Big Savings!
The strong economy has resulted in many companies making new investments to grow their business. There are a number of tax and financial incentives available for manufacturers that are investing in their Indiana operations. Many companies fail to maximize the incentives available to them; or worse yet, miss out entirely. We can help you secure incentives that will increase your profitability and return on investment.
The state and local incentives available to manufacturers in Indiana can result in hundreds of thousands or even millions of dollars in savings so it is important to be aware of the programs that are available to you. The most common incentives include property tax abatements, EDGE and HBIT credits. Property tax abatements are given at the local level and often provide the most significant benefit. The EDGE and HBIT incentives are awarded at the state level and provide for refundable income tax credits.
Time is of the Essence
Timing and planning is the most critical aspect for ALL of these incentives. Generally, the incentives must be in place before projects begin. In addition, the state incentives require local inducements (i.e. tax abatements) so it is essential that these incentives be considered as a total package early in the planning stages.
The most effective approach is to consider the available incentives well before investment plans become well formulated. With our knowledge of Indiana’s incentive structure, we can help you secure maximum benefits. We provide a full range of services from general consulting to a full turn-key solution. We will work with you and local and state officials to make sure you obtain the full benefits to which you may be entitled.
A Pattern of Success
The following are some recent successful projects we have completed for our clients in Indiana:
Project: $15 million building expansion and new equipment
Incentives: Real and personal property tax abatement; EDGE credit; training grants; utility credits
Projected Benefit: $2.4 million
Project: $12 million new building and equipment
Incentives: Real and personal property tax abatement; EDGE credit; utility credits
Projected Benefit: $2 million
Project: $90 million building expansion and new equipment
Incentives: Real and personal property tax abatement; EDGE credit, training grants
Projected Benefit: $6 million
If you are contemplating an investment of $5 million or more in new equipment, a new building or building expansion or a combination of the two, we strongly encourage you to consider the incentive opportunities available. We can provide you with a free preliminary analysis of the potential benefits available and if you like, a proposal to assist you with obtaining and maximizing these incentives.
For more information, contact your Baden Tax professional today.
