STATEHOUSE-Many House Republican members were present today at the Statehouse as the governor signed into law several bills providing additional economic development tools to communities in order to better foster job growth.
"Job creation is a top priority for Hoosiers," said State Rep. Sue Ellspermann (R-Ferdinand). "These economic development initiatives will encourage existing businesses to expand, attract new industry, and increase entrepreneurship in our state."
Rep. Ellspermann, along with her 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 the legislation introduced was promoting Hoosier job creation. The following bills passed this legislative session and now have been signed into law:
# 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.
"I am very pleased to see these bills become law. These pieces of legislation will help create and incentivize job creation in Indiana, helping Hoosiers across the state. I look forward to the positive impact to families, communities and the state," said Rep. Ellspermann.