Raise your hand if your company will be doing any of the following in the next year:
What if I told you that your business could be paid for doing this in Indiana? You’d probably say, “What’s the catch?” and then you’d hear me say something about “Applying for an incentive credit,” and you’d respond, “No thanks, that’s too much time and bureaucratic tape, I don’t understand any of that stuff, that’s only for big businesses, I’m sure we won’t qualify.” If any of that sounds like you, I get it, I was there too. But, let me share with you Purple Ink’s recent timeline of events:
Total time 110 minutes – it’s that easy! Types and value of incentives vary by community and state; common incentives include Job Creation Tax Credits, Training Assistance, Venture Capital Tax Credits, Real & Personal Property Tax Abatements, and Investment Credits. Purple Ink’s incentive award was through EDGE – Economic Development for a Growing Economy tax credit. Key points for this incentive were:
The takeaway here is don’t assume you won’t qualify. And don’t waste time. According to Jack Leppert, Manager of Client Services at FairWinds Advisors, “Timing is key when seeking incentives. Keep in mind that we should plan your project and request incentives prior to your company making any new hires or any public announcement of job growth.”
In summary, total cost 110 minutes…total benefit $273,000. Now, raise your hand if you’re about to call Jenny Massey? Contact her at 317.440.2450 or firstname.lastname@example.org.