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Bill to make IEDC more transparent moves to full senate

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The Indiana Senate Tax and Fiscal Policy Committee unanimously passed legislation Tuesday meant to makes the state’s job-creation efforts more transparent to the general public.

Senate Bill 162, which now moves to the full Senate for consideration, would increase the amount of information made public when the Indiana Economic Development Corp. gives tax breaks and other incentives to companies to move to or expand in Indiana.

“It’s the public’s right to know how their tax dollars are being spent,” said Sen. Mike Delph, R-Carmel.

Under current law, the IEDC and the businesses that receive incentives are not required to release the records pertaining to the number of jobs created or the money handed out.

The incentives are not paid out until actual jobs are created, according to Eric Doden, the IEDC's new CEO.

The bill would require both the agency and the firms to present annual job creation and financial investment information to the public.

Delph said the committee needs to answer one key question: “When a company seeks a public tax break and, in return, tells the state they plan to invest a certain amount of dollars, or create a certain number of jobs, should they be held accountable by routine disclosure of their progress to that which they promised the state?”

But Sen. Gregory Taylor, D-Indianapolis, questioned whether the added transparency would help or hurt the IEDC’s quest to recruit new businesses. Taylor pointed out that a private company’s financial information often falls under the category of trade secrets in the state’s Open Records law for a reason. He said opening this information to the public, including competing businesses and states, could be detrimental to the IEDC’s goals.

Delph responded by saying that Illinois has some of the strongest transparency laws in the country and has still attracted more new facilities and expansions in the last three years than Indiana.

He said the goal is to tie tax dollars and job commitments to what they — the businesses — promised to do in advance.

Doden said the IEDC favors transparency and accountability but doesn’t want to do anything that puts at risk his organization’s ability to bring jobs to Indiana. He does, however, support the bill.

Indiana spends about $142 per capita on corporate subsidies, according to a recent New York Times study, but that's far less than many other states.
 

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  1. I had read earlier this spring that Noodles & Co was going to open in the Fishers Marketplace (which is SR 37 and 131st St, not 141st St, just FYI). Any word on that? Also, do you happen to know what is being built in Carmel at Pennsylvania and Old Meridian? May just be an office building but I'm not sure.

  2. I'm sorry, but you are flat out wrong. There are few tracks in the world with the history of IMS and probably NO OTHER as widely known and recognized. I don't care what you think about the stat of Indy Car racing, these are pretty hard things to dispute.

  3. Also wondering if there is an update on the Brockway Pub-Danny Boy restaurant/taproom that was planned for the village as well?

  4. Why does the majority get to trample on the rights of the minority? You do realize that banning gay marriage does not rid the world of gay people, right? They are still going to be around and they are still going to continue to exist. The best way to get it all out of the spotlight? LEGALIZE IT! If gay marriage is legal, they will get to stop trying to push for it and you will get to stop seeing it all over the news. Why do Christians get to decide what is moral?? Why do you get to push your religion on others? How would legalizing gay marriage expose their lifestyle to your children? By the way, their lifestyle is going to continue whether gay marriage is legalized or not. It's been legal in Canada for quite a while now and they seem to be doing just fine. What about actual rules handed down by God? What about not working on Sundays? What about obeying your parents? What about adultery? These are in the 10 Commandments, the most important of God's rules. Yet they are all perfectly legal. What about divorce? Only God is allowed to dissolve a marriage so why don't you work hard to get divorce banned? Why do you get to pick and choose the parts of the Bible you care about?

  5. Look at the bright side. With the new Lowe's call center, that means 1000 jobs at $10 bucks an hour. IMS has to be drooling over all that disposable income. If those employees can save all their extra money after bills, in five years they can go to the race LIVE. Can you say attendance boost?

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