INSIDE INDIANA BUSINESS: Is local tax abatement worth it?

2013-11-22T13:10:00Z 2013-11-22T17:18:11Z INSIDE INDIANA BUSINESS: Is local tax abatement worth it?Gerry Dick Inside Indiana Busines nwitimes.com
November 22, 2013 1:10 pm  • 

A Ball State University economist says employment-based tax credits are more effective than tax abatement in attracting jobs to Indiana. Center for Business and Economic Research Director Mike Hicks says between 2005 and 2010, state EDGE credits created one manufacturing job per $1,000, while local abatements resulted in one manufacturing job per $30,000 in tax dollars lost. Hicks expands on the research in an interview to air this weekend on Inside INdiana Business Television.

Central Indiana Ranks High For Tech Job Creation

There is another sign of a strengthening tech sector in central Indiana. Forbes ranks the Indianapolis-Carmel area among the top 10 metros in the country for generating technology jobs. The publication says employment growth in the sector jumped slightly more than 50 percent from 2001 to 2013.

Company Pitches Plan to Re-Open Mine

The Greene County Redevelopment Commission has approved a tax abatement request for a New York-based company's proposal to restart a mining operation near Jasonville. The Greene County Daily World reports the Quest Energy Corp. plan could create 150 jobs by the end of next year.

French Lick Resort Garners National Honor

French Lick Resort has been dubbed the "Best Historic Resort in America" by Historic Hotels of America. The destination beat out spots in Hawaii, New York and California.

State Announces 'Best of Indiana' Fall Winners

The Indiana Office of Tourism Development has named winners of its 2013 Best of Indiana Fall competition. Top honors are in categories including signature food, family destination and college football game day tradition.

Couple Pumping $2.5 Million Into DePauw Trust

DePauw University has announced a big boost for a new fundraising initiative. Mike and Sue Smith's $2.5 million gift to The DePauw Trust will lead to a scholarship fund in their name. He is a former Anthem Inc. chief financial officer and his wife serves as director of Indianapolis-based nonprofit Out Run the Sun.

Marshall County CVB Selects New Leader

Cori Holzwart-Humes has been named executive director of the Marshall County Convention and Visitors Bureau. She will succeed Mike Woolfington, who has led the organization for more than two decades and is retiring.

Pence Makes Several Appointments

Governor Mike Pence has made appointments to several boards and commissions. They include the Commission on Higher Education, Horse Racing Commission and Indiana Arts Commission.

Startup Begins 4G Coverage

Rochester-based S and R Communications LLC has launched 4G LTE service along State Road 24 between Peru and Wabash. The effort is a partnership with Verizon Wireless designed to provide LTE service in rural areas.

Exelis Secures Military Contract

Fort Wayne-based Exelis Inc. has landed a more than $7 million contract for radar signal simulators. The deal involves the U.S. Navy and the governments of Australia and Brazil.

Hoosier Solar Company Lands Ohio Contract

An Indianapolis-based solar technology company has been chosen for a large installation at an Ohio prison. Solar America Solutions LLC says the $1.7 million project will be one of the largest of its kind in North America.

Research Examines Fashion Spending

New research from Indiana University's Kelley School of Business brings mixed news for the state's fashion industry. The school's quarterly FIndex survey shows, although they have less to spend this year, apparel will likely be the largest spending category for Millennials during the holiday shopping season.

Health Organization Announces China Mission

The Indiana Health Industry Forum is planning a trade mission to China. The trip is set for March and will focus on the medical device sector.

For more Inside Indiana Business, visit www.insideindianabusiness.com.

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