Vermillion County has strategies to help companies succeed

Vermillion County and Indiana have earned reputations as business-friendly places, and both offer a variety of programs that can help companies leverage the value of their investment in new or expanded facilities. The Vermillion County Economic Development Council can identify the best incentive programs for the nature of your company and project, and then guide you through the steps involved in securing those incentives.

Local Incentives

Vermillion County is able to lower business start-up costs through the use of 10-year tax abatements on both real and personal property, along with Tax Increment Financing (TIF) that can help to fund infrastructure costs, debt service, and other costs related to business investments. In addition, local officials can discuss additional incentive programs that may be available depending upon the specific details of projects.

State Incentives

The Indiana Economic Development Corporation offers a variety of incentives, including grants for some types of development and programs supporting communities that actively encourage private-sector investment. One program, called the 21st Century Research and Technology Fund, is helping Indiana officials diversify the state’s economy by creating partnerships between businesses and higher education to develop and commercialize advanced technology. Other programs help new and growing employers reduce the cost of training.