"The Strengthen Indiana Plan focused on key elements to promote job creation and incentivizes employers to grow and relocate to Indiana," said Speaker Bosma.
Start-up capital for budding businesses has now been made more accessible by enhancing the Venture Capital Investment tax credit. House Republicans also improved tax incentives that help revitalize hard hit communities that have empty factories and warehouses sitting idle.
"Through improvements to the Industrial Recovery Tax Credit (Dinosaur Building), more communities will be able to take advantage of this program that will help Hoosier employers defer upfront capital costs for rehabilitating empty factories. These costs often prevent new businesses from starting up and with the improvements to this credit businesses can repurpose the factories and hire Hoosiers," said Speaker Bosma.
In addition to economic incentives, House Republicans also made it easier for new and existing businesses to cut through the unnecessary red tape that goes along with starting and maintaining a business by establishing an online 'one-stop-shop'. While other states have increased taxes on employers House Republicans joined the Governor and Senate Republicans in driving down the corporate income tax, creating increased opportunities for businesses to hire Hoosier workers.
"I am pleased that our bills are now law. This legislation will give both a boost to the economy and communities throughout the state which have lagged in recovering from the recession," said Speaker Bosma.