Taxes and Incentives SAVED CONTENT TEMPknoxcounty2021-05-12T18:40:35-04:00
#2 in the U.S. for Property Tax Rates#5 Best State for Business in the U.S.#1 Manufacturing State in the Nation
Knox County is home to something and something else, and it’s
like…really smart to do business in Indiana or something.
State of Indiana Rankings
Forbes: Indiana has the #5 regulatory environment in the United States
Business Facilities: Indiana is the #1 manufacturing state in the nation
Chief Executive: Indiana is the #5 best state for business in the US
Tax Foundation: Indiana ranks #2 in the US for property tax rates
State Tax Incentives
The State of Indiana research and development tax credit offers a 100 percent sales tax exemption for new qualified equipment and property purchased. This incentive demonstrates our commitment to supporting Indiana companies to innovate and grow for years to come
Headquarter Relocation Credit
Indiana’s headquarters relocation tax credit provides a nonrefundable tax credit to businesses that relocate their headquarters to Indiana, which is an incentive that we hope makes your decision to come to Indiana even easier.
Data Center Tax Break
Indiana’s Data Center incentive provides a tax exemption on purchases of qualifying data center equipment and energy to encourage the next generation of cloud innovators to leverage the space and resources available in Indiana.
Skills Enhancement Incentive
Our skills enhancement fund provides a financial incentive for training required to support business growth and helps ensure your employees will not only be experts in what they do, but that they will continue to be at the forefront of the industry.
EDGE Tax Credit
The Economic Development for a Growing Economy tax credit provides a refundable tax credit to businesses that create new jobs that improve the standard of living for Indiana residents to help you revolutionize your industry and bring new ideas to life.
Next Level Jobs
Indiana grants associated with Next Level Jobs can help with covering tuition and training costs for employers, providing additional incentives for Indiana companies to advance in their capabilities to create the jobs, products and services of the future.
Indiana’s corporate income tax rate is dropping to 4.9% in 2021.
Local Tax Incentives
Over $300,000 per year from Vincennes/Knox County for Industrial Development.
Tax abatement is offered by the local governmental taxing unit on real property and equipment. Real property can qualify for a three year, seven year or ten year abatement on new buildings and improvements or increases in assessed value on remodeled or renovated structures. Land does not qualify. Manufacturing equipment (new to the State of Indiana) qualifies for a deduction from assessed value over a ten year period. Equipment not used in direct production, such as office equipment, does not qualify. The amount of deduction, if granted, is determined by the County Council or City Council.
Industrial Revenue Bonds
Industrial Revenue Bonds may be available through state or local governments.