The forgiveness would be in the form of a tax credit for the full amount of any tax paid on inventory, raw material, or finished product. Any employer within the zones. Employees must be residents. Loans granted by the industrial development fund must be used for investment in zone businesses. Purchase equity in start-up or expanding zone firms.
Deduction is based on one-half adjusted gross income.
Funds generated from projects in the enterprise zones may be used for job training, job enrichment activities, and basic skill developments. As designated by the City Council. Specific areas receive reduced tax assessment. Over Your Competition Economic Development for a Growing Economy is a corporate tax-credit program that only the state of Indiana offers. Create new jobs by expanding or relocating in our state, and your company may be eligible for corporate tax credits equal to the percentage of the individual income tax withholding generated by new jobs created.