Posey County Economic Development Partnership, Inc.
About Us
County Profile

State Grants & Credits

21st Century Research and Technology Fund
The Indiana 21st Century Research and Technology Fund was created to stimulate the process of diversifying the State’s economy by developing and commercializing advanced technologies in Indiana. The Board, representing most of the academic and commercial sectors of the State, approves awards. Go to the program >>

The Indiana Economic Development Corporation (IEDC) may assist the community by helping to provide public infrastructure through the Industrial Development Grant Fund (IDGF), to serve the company’s facility. Assistance may be provided to support the opening of the new plant or at any time in the future if a plant expansion necessitates additional public improvements.

Small Business Innovation Research Initiative (SBIR/STTR)
The Small Business Innovation Research (SBIR) — along with its sister program, the Small Business Technology Transfer program (STTR) — are highly competitive and encourage small businesses to explore their technological potential. SBIR/STTR funding is available from 11 participating agencies throughout the United States and focuses on various technological areas. Go the the program >>

Economic Development for a Growing Economy (EDGE) Tax Credit
The Economic Development for a Growing Economy (EDGE) is a refundable tax credit program that rewards companies creating jobs and contributing to the growth of Indiana’s economy. EDGE credits are calculated as a percentage of payroll tax withholding for net new Indiana jobs. EDGE credits may be awarded for a period of up to 10 years. Go to the program >>

Headquarters Relocation Tax Credit
When a business relocates its corporate headquarters (defined as the location of the principal office of the principal executives) to Indiana, it is entitled to a credit against its state tax liability equal to half of the costs incurred in relocating the headquarters. A company must have a worldwide annual revenue of at least $100 million to qualify. Go to the program >>

Industrial Recovery Tax Credit
The Industrial Recovery tax credit provides an incentive for companies to invest in facilities requiring significant rehabilitation or remodeling expense. After a building has been designated as an industrial recovery site, companies may be eligible for a tax credit calculated as a percentage of qualified rehabilitation expense.

Venture Capital Investment Tax Credit
The Venture Capital Investment Tax Credit was established to improve access to capital to fast growing Indiana companies by providing individual and corporate investors an additional incentive to invest in early stage firms. Investors who provide qualified debt or equity capital to Indiana companies receive a credit against their Indiana income tax liability. Go to the program >>

Hoosier Business Investment Tax Credit (HBITC)
This program encourages capital investment in Indiana by providing a credit against a company’s Indiana tax liability. The credit amount is based on a company’s qualified capital investment with the final credit amount determined by the Indiana Economic Development Corporation, based on an analysis of the economic benefits of the proposed investment. Go to the program >>

State Loan Programs

Tax-exempt Bonds
Private Activity Bonds are often called Industrial Revenue Bonds (IRBs) or Industrial Development Bonds (IDBs) and are issued by state or local governmental entities for the benefit of a private company, usually manufacturers. Interest on the bonds is generally exempt from federal income taxes for investors, which typically results in lower long-term interest rates to the borrower. Go to the program >>

Loan Guaranty Program
IEDC can provide a loan guaranty to a lender for the benefit of a high-growth/high-skilled company, manufacturer, rural development project, value-added agricultural enterprise or another type of business that creates or retains a significant number of Hoosier jobs.

Capital Access Program (CAP)
The Capital Access Program (CAP) is a small business credit enhancement program that creates a specific cash reserve fund for the lender to use as additional collateral for loans enrolled in the Program. CAP allows lenders to consider loans that might not meet conventional lending requirements.

State Special Program

Regulatory Ombudsman
The Indiana Economic Development Corporation’s regulatory ombudsman assists in the process of obtaining the permits and approvals necessary for a business operation. The ombudsman serves as a liaison between companies, communities, local economic development organizations and regulatory agencies thus allowing perspective companies to have a one point of contact for all permitting.

Shovel Ready
The Shovel Ready Program is a state program created to help communities certify sites as "ready for development." Shovel Ready is designed to ultimately help companies locate and develop a property site quickly. The program calls for sites to have public utilities to the property, initial permitting required to begin construction and phase I property inspection to be completed.