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The IEDC (Indiana Economic Development Corporation) has already spent hundreds of millions of Indiana tax dollars to buy up land in Boone County. Due to lack of water resources, they have a grand plan to get water piped (around 40 miles) from the aquifer under the Wabash River. That will easily be over a billion dollars to complete and again be paid for by our tax dollars.
We (residents) have now found out that Eli Lilly is getting almost $20 Million in RTC for their development. The R stands for redevelopment. The land that is being bulldozed for this project is some of the most productive farm land in the state/country and also includes many homes.
What is happening in Indiana is devastating. The IEDC has snatched up thousands (6,000 acres +) in our county and that still is not enough for them. They are a pseudo government agency funded by tax dollars that they are using against us. Indiana taxpayers, not just Boone County residents, should be aware and concerned about irresponsible spending of our State Government. To those in other states, I encourage you to look deeper into what is playing out in Indiana and learn from it to protect your communities.
Here is the definition of a Redevelopment Tax Credit from the IEDC. The land Lilly is building on is NOT any of the below criteria: vacant, underutilized, or a brownfield.
“The Redevelopment Tax Credit provides an incentive for investment in the redevelopment of vacant and underutilized land and buildings as well as brownfields. This credit, established by Indiana Code § 6-3.1-34, provides companies and developers an assignable income tax credit for investing in the redevelopment of communities, improving quality of place and building capacity at the local level.”
I, for one, am very happy that my tax dollars are going to this project. It’s time to move this state forward and this is an area that we can locate organizations with high paying jobs. Bring it on!
Gary B.
plus 1
Gary B
Plus 2
I don’t know how they can market sites to potential buyers when they do not and will not own the property.
Such efforts are governed by very detailed and confidential legal agreements between the property owners and the state. Such documents are common in large real estate deals.
Brent B. I personally know multiple people who live and have property on the map that the IEDC does not own. They are not selling and will not. They have expressed many times for this map to be changed and their properties to be removed.
Eminent domain will come into play.
Gary B.
plus 1
I’m courting companies totaling 1 trillion dollars. Please get real and stop publishing IEDC hyperbole.