2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 13. Economic Development for a Growing Economy Tax Credit › 6-3.1-13-17. Amount of Credit Awarded; Factors; Conditions for a Project Without a Physical Location in Indiana

Sec. 17. (a) If the applicant proposes a project that will be located at a physical location in Indiana, in determining the credit amount that should be awarded to an applicant under section 15 of this chapter that proposes a project to create jobs in Indiana, the corporation may take into consideration the following factors:
(1) The economy of the county where the projected investment is to occur.
(2) The potential impact on the economy of Indiana.
(3) The incremental payroll attributable to the project.
(4) The capital investment attributable to the project.
(5) The amount the average wage paid by the applicant exceeds the average wage paid:
(A) within the county in which the project will be located, in the case of an application submitted before January 1, 2006; or
(B) in the case of an application submitted after December 31, 2005:
(i) to all employees working in the same NAICS industry sector to which the applicant's business belongs in the county in which the applicant's business is located, if there is more than one (1) business in that NAICS industry sector in the county in which the applicant's business is located;
(ii) to all employees working in the same NAICS industry sector to which the applicant's business belongs in Indiana, if the applicant's business is the only business in that NAICS industry sector in the county in which the applicant's business is located but there is more than one (1) business in that NAICS industry sector in Indiana; or
(iii) to all employees working in the same county as the county in which the applicant's business is located, if there is no other business in Indiana in the same NAICS industry sector to which the applicant's business belongs.
(6) The costs to Indiana and the affected political subdivisions with respect to the project.
(7) The financial assistance and incentives that are otherwise provided by Indiana and the affected political subdivisions.
(8) The extent to which the incremental income tax withholdings attributable to the applicant's project are needed for the purposes of an incremental tax financing fund or industrial development fund under IC 36-7-13 or a certified technology park fund under IC 36-7-32.
As appropriate, the corporation shall consider the factors in this subsection to determine the credit amount awarded to an applicant for a project to retain existing jobs in Indiana under section 15.5 of this chapter.
(b) Subject to the limitations of subsection (c), if an applicant proposes a project that proposes to create new jobs in Indiana but does not propose a physical location in Indiana, the corporation may consider the following factors:
(1) The potential impact on the economy in Indiana.
(2) The incremental payroll attributable to the project.
(3) The amount of average wage paid by the applicant that exceeds the average wage paid to all employees working in the same NAICS industry sector to which the applicant's business belongs in Indiana.
(4) The cost to Indiana with respect to the project.
(5) The financial assistance and incentives that are otherwise provided by Indiana.
(6) The extent of Indiana income tax that is paid by eligible employees.
(c) An applicant proposing a project that meets the requirements of subsection (b) must propose:
(1) to create at least fifty (50) new full-time jobs; and
(2) to pay an average hourly wage of at least one hundred fifty percent (150%) of the state average wage;
in order to be eligible to receive a credit under this chapter.
As added by P.L.41-1994, SEC.1. Amended by P.L.178-2002, SEC.46; P.L.4-2005, SEC.74; P.L.197-2005, SEC.6; P.L.135-2022, SEC.7.