invest in Indiana___________
- Capital reinvestment by zone businesses exceeds $250 million.
- Total tax savings are less than $25 million.
- For every $1 in tax savings, $10 is invested in new capital
improvements by zone buisnesses.
stimulate job growth________
- Over 3,000 new jobs are created. Zone residents fill nearly
½ of these jobs.
- Wages are paid in excess of $1.5 billion.
- Of the new jobs created, jobs filled by zone residents increased
an average of 15%.
build strong communities_____
- Local urban enterprise associations (UEAs) invest more than
$4.5 million of business contributions in projects and programs.
- Local UEAs leverage and additional $1-3 million of external
- UEAs are private non-profits that leverage a variety of public
and private resources for urban revitalization.
- UEAs represent diverse interests - residents, business, and
government - to find common solutions
enhance the quality of life_____
- Holistic approach. We promote community economic development.
We revitalize the business community, and we invest in and support
zone residents and neighborhoods.
- A benchmark of excellence. Indiana's enterprise zone program
was a model for the Federal Empowerment and Enterprise Community
- Self-supporting. State administration and local UEAs are supported
wholly by business financial commitments, not by State tax dollars.
- A sound investment. The enterprise zone is a public-private
partnership of diverse interests that creates wealth for residents,
communities and Indiana. For every $1 in tax savings, $14 in all
investment (capital, wages, and community development is created.
To be responsive to Indiana's changing economic climate
and the needs to urban communities, AIEZ seeks:
- Economic development incentives - New or enhanced State tax
incentives and technical corrections to existing incentives to
support urban revitalization and brownfield redevelopment.
- Program accountability - Better communication and information
sharing among all levels of government and UEAs concerning zone
tax incentive disclosure.
- State Zone Board composition - Changes in State Zone Board representation
to include the Indiana Department of Revenue, Indiana Department
of Environment Management, Sate Board of Tax Commissioners, Indiana
Development Finance Authority, Business Modernization and Technology,
and Indiana Workforce Development.
- Flexibility in administrative funds - Increased flexibility
in use of administrative funds for urban revitalization and brownfield
- Program registration and compliance - Changes in registration
to better facilitate fair and equitable compliance.