Version b
Amount of credit awarded; factors
Note: This version of section effective 7-1-2005. See also
preceding version of this section, effective until 7-1-2005.
Sec. 17. In determining the credit amount that should be awarded
to an applicant under section 15 of this chapter that proposes a
project to create jobs in Indiana, the corporation may take into
consideration the following factors:
(1) The economy of the county where the projected investment
is to occur.
(2) The potential impact on the economy of Indiana.
(3) The incremental payroll attributable to the project.
(4) The capital investment attributable to the project.
(5) The amount the average wage paid by the applicant exceeds
the average wage paid:
(A) within the county in which the project will be located, in
the case of an application submitted before January 1, 2006;
or
(B) in the case of an application submitted after December
31, 2005:
(i) to all employees working in the same NAICS industry
sector to which the applicant's business belongs in the
county in which the applicant's business is located, if there
is more than one (1) business in that NAICS industry
sector in the county in which the applicant's business is
located;
(ii) to all employees working in the same NAICS industry
sector to which the applicant's business belongs in Indiana,
if the applicant's business is the only business in that
NAICS industry sector in the county in which the
applicant's business is located but there is more than one
(1) business in that NAICS industry sector in Indiana; or
(iii) to all employees working in the same county as the
county in which the applicant's business is located, if there
is no other business in Indiana in the same NAICS
industry sector to which the applicant's business belongs.
(6) The costs to Indiana and the affected political subdivisions
with respect to the project.
(7) The financial assistance and incentives that are otherwise
provided by Indiana and the affected political subdivisions.
(8) The extent to which the incremental income tax
withholdings attributable to the applicant's project are needed
for the purposes of an incremental tax financing fund or
industrial development fund under IC 36-7-13 or a certified
technology park fund under IC 36-7-32.
As appropriate, the corporation shall consider the factors in this
section to determine the credit amount awarded to an applicant for a
project to retain existing jobs in Indiana under section 15.5 of this
chapter.
As added by P.L.41-1994, SEC.1. Amended by P.L.178-2002,
SEC.46; P.L.4-2005, SEC.74; P.L.197-2005, SEC.6.
Last modified: May 28, 2006