Skip to main content
You are the owner of this article.
You have permission to edit this article.
Edit
The (low) cost of doing business in Lake County
urgent

The (low) cost of doing business in Lake County

Fulcrum BioEnergy Inc. announces that it has selected Gary, Indiana for the location of its Centerpoint BioFuels Plant (copy)

Fulcrum Bioenergy co-founder, President and CEO Jim Macias chats with Gary Councilman-at-large Ron Brewer and Gary Mayor Karen Freeman-Wilson following a December news conference announcing that Gary will be the future home of Fulcrum BioEnergy Inc. The company is one of several to plant roots here in Lake County thanks to state and local tax incentives and the county's business-friendly climate, according to the Lake County Economic Alliance. 

It’s no surprise The Region’s business climate is often ranked among the best in the Midwest. The relatively small cost of doing business here always has been a major draw for investors and companies looking to serve their bottom line while catering to employees and clients.

Compared to Illinois, Indiana is seen as the least expensive when it comes to workers’ compensation premium rates, the corporate tax rate, individual income tax rate, unemployment insurance tax rate and costs of living.

The county's welcoming business climate almost speaks for itself, but someone has to be the one to make the pitch to companies.

That’s where Karen Lauerman, president and CEO of Lake County Economic Alliance, and Don Koliboski, vice president of economic development, come in.

“People always talk about our proximity to Chicago, but it’s a fact. Lake County has 485,000-plus people, and we have a workforce. We have road, rail, air and water. We have universities and colleges," Lauerman said.

“You know, people forget we offer the big city experience without the same expenses. Our average commute time is 28 minutes. We have quality of life but with an affordable price tag.”

LCEA has become the premiere economic development group in the county that recruits companies, markets communities, and bridges that gap in between.

The organization facilitates deals by identifying available land, conducting data analysis for companies and building relationships.

The group had a hand in several companies making the choice to move to Lake County in the past few years.

The recent highlights among them: HMD Trucking, Alliance Steel and Fulcrum Bioenergy in Gary; Hoist Liftruck Services in East Chicago; Tristate Automatics in Hammond; the Mascot Hall of Fame Museum in Whiting; and Aunt Millie’s Bakery in Lowell.

Koliboski said the state’s multimillion-dollar surplus also means Indiana government can afford to strike deals with companies by offering them lucrative, performance-based tax credits and incentives.

Coupled with local communities’ willingness to offer tax abatements, reimbursements through TIF districts and elimination of startup fees, Lake County is the place to do business, he said. 

Economic development doesn’t happen overnight, he said, but LCEA aims to be the nonpartisan, independent one-stop shop for businesses seeking to relocate or expand in Northwest Indiana. 

“We are very progressive in the way we recruit and market,” Koliboski said.

He said LCEA has about 80 active projects, over half of which is in the manufacturing sector, in the pipeline, across 19 communities and unincorporated areas. Distribution and logistics, which includes e-commerce facilities, is a close second followed by the technology, office/medical and agri-business industry clusters, according to LCEA. 

0
0
0
0
0

Get local news delivered to your inbox!

* I understand and agree that registration on or use of this site constitutes agreement to its user agreement and privacy policy.

North Lake County Reporter

Lauren covers North Lake County government, breaking news, crime and environmental issues for The Times. She holds a master’s degree in Public Affairs Reporting from UIS. Contact her at lauren.cross@nwi.com or 219-933-3206.

Related to this story

Get up-to-the-minute news sent straight to your device.

Topics

News Alerts

Breaking News

Crime

Entertainment & Dining

Latest News

Local Sports

NWI Prep Sport News

Weather Alerts