Beyond Federal and State R&D Tax Credits, there are additional high-value incentives offered at local and state levels for companies across a wide variety of industries.
Most states want to attract, retain, and grow businesses and high-paying job opportunities in their back yard. While the specifics vary widely from state to state, most states currently have programs to reward businesses (in the form of tax credits) for activities such as:
- New job creation
- Headquarter relocation
- Capital investment
- Employee skills development and training
- Venture Capital Investment
By way of example, the state of Indiana offers a range of tax incentives, corporate tax credits, and economic development programs that encourage investment and business growth. These programs cover a wide range of opportunity, including:
- Economic Development for a Growing Economy (EDGE) – Payroll Tax Credit
- Headquarters Relocation Tax Credit (HQRTC)
- Hoosier Business Investment Credit
- Skills Enhancement Fund (SEF)
- Venture Capital Investment Tax Credit (VCITC)
The process of identifying local and state incentives can be a slow process without an expert guide to help along the way. Hull & Knarr communicates directly with state and local constituents to save time and resources, letting companies focus on their core business. To explore local and state opportunities with a Hull & Knarr expert, contact us.