Industrial Development Grant Fund

The Indiana Economic Development Corporation (IEDC) provides financial assistance for the implementation of infrastructural developments that promote local employment and that generate capital investment in Indiana. The Industrial Development Grant Fund (PDF) supplies financial backing to local governments for off site infrastructure ventures associated with an extension of a previously established Indiana company, or the transfer of a new facility to Indiana. Qualified applicants that have obtained a commitment letter from a delegate of the involved industry / industries demonstrating their plan to expand or relocate their facility may be eligible for the grant. Possible recipient's consist of communities along with other eligible entities such as but not limited to a/an:

  • City
  • Town
  • Special Taxing District
  • Economic Development Commission
  • Non-profit Corporation

21st Century Technology Development Grant Fund

The 21st Century Development Grant Fund was established in 1999 by the General Assembly as a way to incentivize and thus encourage the diversification of Indiana's Economy by creating and marketing sophisticated technologies state wide. The fund is currently regarded as an essential component of the Indiana Economic Development Corporation's Small Business and Entrepreneurship sectors. Please apply online for this grant.

Patent Income Tax Exemption

The Patent Income Tax Exemption (PDF) is a fairly new tax exemption opportunity that was created in the hopes of developing new innovations by providing entrepreneurs with a discount on their state income tax. Ideally this exemption is aimed at further strengthening Indiana's biotech, pharmaceutical, and medical emphasis currently present in the state. According to Indiana State Code, patent income eligible for exemption includes patent sales, patent-covered-product sales, licensing costs, and royalties. It is important to note that only businesses that employ less than 500 individuals are eligible for the exemption on patents that must be for utility or plant patents. Design patents are not eligible for this exemption.

Small Indiana Business Innovation Research and Small Business Technology Transfer Matching Program 

Indiana's Small Business Innovation Research (SBIR) and Small Business Technology Transfer (SBTT) program provides equivalent grants of up to $100,000 to Phase I (also known as the Startup-Phase) award recipients from the federal SBIR and STTR programs. These programs are aimed at facilitating the growth of small technology based companies that have the capability of providing hi-tech career opportunities. Please apply online for this grant.

Skills Enhancement Fund (SEF)

The Skills Enhancement Fund (PDF) is aimed at helping Indiana businesses provide training and further educate their workforce. The SEF reimburses a fractional amount of a company's training expenditures for up to a 2 year period and any further funding is subject to reapplication. Eligible enterprises include:

  • Distribution / Logistics Providers
  • Manufacturing Businesses
  • Headquarters and other companies that provide evidence that a substantial amount of their income is derived from transactions with out of state enterprises.

Regulatory Ombudsman

The Indiana Economic Development Corporation provides assistance for the obtainment of permits and required approvals obligatory for business function. The ombudsman serves as liaison among companies, governmental agencies, communities, and local economic development organizations. For more information regarding permit assistance, contact Pam Fisher, Regulatory Ombudsman, at 317-232-8893 or by email.

Shovel Ready

  • The IEDC's aspirations for the Shovel Ready Program are to:
  • Designate sites and established buildings in order to facilitate the location and authorizing procedures for business development.
  • Aid local areas in classifying and planning for economic development.
  • Categorize and expedite the attainment of local and state permits required for each site.
  • Apply online