Taxes + Incentives
Spencer County Economic Development recognizes that the right combination of tax programs and incentives can vastly impact the success of businesses starting out or looking to expand. We are passionate about collaborating with you to ensure that incentive packages meet your capital needs. Spencer County Economic Development works with local, state and federal entities to provide the most current tax programs and incentives to businesses operating in Spencer County, Indiana.
Incentives
There are a variety of grants, loans and special programs that create affordable funding and tax benefits for local businesses.
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Up to a 10 Year Phase-in of real and personal property taxes is available.
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TIF will be considered.
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Employee training grants are available to our employers and are delivered through collaboration with Southwest Indiana Workforce Board.
Local Advantages
Affordable unemployment insurance rates.
Low worker’s compensation insurance premium rates.
Competitive local utility rates.
Low cost of living.
Modest property taxes.
Competitive land pricing.
No wheel tax.
No inventory tax.
Indiana Economic Development Corporation Incentives
There are a variety of programs and incentives offered through the state of Indiana. The IEDC can help connect you to additional tax incentives, tax credits, and development programs.
Economic Development for a Growing Economy (EDGE) Tax Credit, awarded for qualified job creation
Indiana Skills Enhancement Fund
Hoosier Business Investment Tax Credit
For more information on state incentives, please see the IEDC website.
Tax Abatement Calculator
For qualified projects, the potential to phase in real taxes and personal property taxes can happen over a period of 10 years. Use the tax abatement calculator to find out how this incentive can work for your business. (Courtesy of Hoosier Energy).