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Indiana Senate OKs business agency disclosure bill

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Indiana's business recruitment agency would face greater disclosure requirements under a bill approved by the state Senate.

Senators voted 49-1 Tuesday in favor of requiring the Indiana Economic Development Corp. to prepare an annual public report on tax incentives provided to businesses and the number of jobs created by their projects.

Bill sponsor Sen. Mike Delph of Carmel, a Republican, says he believes companies who seek government incentives should face greater transparency.

The bill follows a WTHR-TV investigation finding as many as 40 percent of the more than 100,000 job commitments promoted by former Gov. Mitch Daniels and agency officials from 2005 to 2010 never materialized, but the IEDC wouldn't disclose which companies didn't meet their job commitments.

State economic development officials say the tax incentives pledged to companies for job creation are not provided until the companies meet their commitments.

The bill now goes to the House for consideration.

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  1. How can any company that has the cash and other assets be allowed to simply foreclose and not pay the debt? Simon, pay the debt and sell the property yourself. Don't just stiff the bank with the loan and require them to find a buyer.

  2. If you only knew....

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