Harrison County
Incentive Program
Purpose: The Harrison County Economic Development Corporation (EDC) has a mission to build a better economic future for Harrison County. In an effort to attract investment from private businesses, the EDC administers an incentive program to provide financial assistance when necessary.
While our incentive program must be flexible and the EDC will evaluate all opportunities for business development and address each case individually, the following incentive programs are considered to encourage business development projects:
1
Tax Abatement
The property must be declared an economic revitalization area and the investment must be qualified for tax abatement. 10 year for Real Estate and 5 year for Equipment.
2
State of Indiana
Numerous incentive programs are available to new and expanding businesses. The general requirements include job creation, capital investment and wage rates comparable to the county average. A financial commitment from the local community is also necessary in order to consider state incentives.
3
Infrastructure Grants
All improvements to public Infrastructure will
be considered. Harrison County, the state of Indiana, and the Federal Government have highly accessible programs.
4
Small Business Loan Program
The Economic Development Corporation conducts this program to encourage investment from small businesses in the county. The Loan Review Committee reviews the applications and uses established criteria specifically for this program.
5
Training
The Economic Development Corp. is committed to elevate the skill levels of the Harrison County workforce. Any training/education program directed toward this effort will be considered for incentives. Harrison County and the State of Indiana both have programs that are accessible.
6
Railroad Rebate Program
To encourage use of the Harrison County Railroad, a rebate program based on usage.
7
Direct Financial Assistance, Energy Costs, Sale/Leaseback
The Economic Development Corporation and the community will evaluate all business development projects and will seek financial assistance for companies and developers to encourage new investment in the county.
8
Other Financing
Harrison County is eligible for Industrial Revenue Bonds, offering businesses a powerful tool to lower the cost of machinery, equipment, land, or building projects.
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Investment Guidelines
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Investment
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A minimum of $500,000 of capital investment within 2 years, with a minimum of 10 new jobs created within 2 years.
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Wages
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A minimum average wage that is equal to or higher than the average wage used by the IEDC.
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Training
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Training activity summaries must be supplied to the IEDC.
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