[r53] House Republicans' Job Creation Incentives Signed into Law (6/2/2011)

Thursday, June 2, 2011

Start Date: 6/2/2011 All Day
End Date: 6/2/2011

Several House Republican members were present today as the governor signed into law several bills providing additional economic tools to communities in order to foster job growth.

"I was proud to be a part of today's ceremony, because it was a joyous occasion," said Rep. Bob Cherry (R-Greenfield) today. "We are making waves in Indiana; we are doing better than our neighboring states and with the signing of these legislation, we will continue to make progress and lead the nation in job growth.

"Government may not be able to create jobs, but it certainly can make a more business-friendly environment in order to foster job growth within a community. The legislation that was signed today does exactly that."

Rep. Cherry, along with his House Republican colleagues, presented the "Strengthen Indiana Plan" at the start of session, laying out what their goals for the 2011 legislative session. A large part of that plan was promoting Hoosier job creation. The following bills were part of that plan:

- House Enrolled Act 1004 enhances the Venture Capital Investment Tax Credit to improve access to capital for fast growing Indiana companies. Additionally, it will make Indiana more desirable to out-of-state businesses by lowering our corporate tax rate, thus creating more economic development in our state.

House Enrolled Act 1005 establishes the Dinosaur Building Tax Credit, which lowers requirements deeming a building vacant so businesses will repurpose warehouses and factories in order to employ more Hoosiers. 

House Enrolled Act 1006 creates an one-stop-shop for new and existing businesses, while also promoting economic development locally and regionally. In addition, the new law will encourage coordination between universities, high schools and state agencies to create an entrepreneurial curriculum.

House Enrolled Act 1007allows enhanced abatement schedules and hiring incentives to encourage local job growth. HEA 1007 also extends tax incentive options for locals to exempt enterprise information technology in order to attract high-tech companies offering high-paying jobs.