Indiana’s friendly economic development rivalry against Michigan and Illinois is heating up. Confident that its business costs
are lower, Indiana has begun a six-month advertising campaign designed to attract companies across the state line.
Shelbyville leaders and residents are grumbling about restrictions the Indiana Economic Development Corp. just slapped on
Intelliplex, their $22.8 million certified technology park.
The Indiana Economic Development Corp. did OK in the just-completed legislative session. IEDC received $96 million it can
now dole
out as business grants. And lawmakers had authorized tax credits worth millions more for the commercialization of new…
Economic development officials say networking is the first step in a process that, when successful, leads to industrial plant
expansions and company headquarters relocations. Travel, food, gifts and entertainment, they argue, are a necessary cost of
attracting jobs to Indiana.
Since the inception of the state’s Venture Capital Investment Tax Credit in late 2003, investors have claimed only about one-third of the $37.5 million in credits available, according to an IBJ analysis of the program.
