George Strobel II: Tax policy changes would put private investment at risk

Indiana’s economy is thriving thanks to smart investments, private-sector leadership and pro-business policies. Across the state, companies are creating jobs, expanding infrastructure and strengthening our energy independence—all driven by market-based tax policy that encourages private capital to work for local communities.

One of the most powerful drivers of this investment has been tax-equity financing, a proven model that unlocks billions in private funding for energy, manufacturing and job creation. This approach doesn’t rely on taxpayer dollars or federal handouts—it rewards businesses for investing in Indiana’s future.

Yet now, sweeping changes to federal tax policy threaten to disrupt this growth, putting billions of dollars in planned investment and thousands of jobs at risk. If policymakers are serious about keeping Indiana’s economy competitive, they must preserve and expand the tax incentives that are fueling this momentum.

This isn’t just a policy debate—it’s about real economic impact for Hoosiers.

In Indiana alone, Monarch Private Capital has managed tax-equity investment that supported 48 projects, created more than 5,000 jobs and generated $1.65 billion in economic growth. These projects have strengthened rural communities, local businesses and workforce development across more than 30 counties, including Marion, Allen, Delaware, Wayne, Madison and Montgomery.

Tax-equity-backed investments have expanded Indiana’s energy capacity by 185 megawatts, ensuring grid reliability and supporting lower electricity costs for businesses and residents.

Take Logansport, for example. Once a coal-reliant community, the city turned to private capital and tax-equity financing to build a 16-megawatt solar farm on a former industrial site. This project now provides clean, reliable energy to local businesses, reduces electricity costs and has helped attract new investment into the region. Without tax equity incentives, projects like this wouldn’t be possible, leaving communities without the resources to modernize and grow.

The best part? This growth is powered by private capital—not government mandates. By leveraging tax-equity financing, Indiana is attracting businesses, investors and high-quality jobs while keeping our economy strong.

Some critics argue that tax incentives are unnecessary. The truth is, tax equity works exactly as intended—rewarding businesses that take the initiative to invest in job-creating projects.

Unlike government spending programs, tax equity:

◗ Encourages private-sector investment instead of relying on taxpayer-funded subsidies.

◗ Strengthens Indiana’s energy infrastructure without increasing government’s role.

◗ Supports business growth and job creation in communities that need it most.

If these incentives are rolled back, investment dollars won’t stay in Indiana—they’ll go elsewhere. Capital moves where conditions are predictable, stable and pro-business. Indiana can’t afford to lose these investments to other states or overseas markets.

Indiana has long been a leader in business-friendly policies and economic development. By maintaining a stable, competitive tax structure, Indiana can keep attracting investment, creating jobs and expanding infrastructure.

However, Monarch Private Capital has more than a billion dollars in Indiana energy projects in the pipeline—projects that are now at risk due to the potential repeal of solar energy tax credits. The Trump administration actually passed legislation in 2017 supporting solar-energy tax credits.

Now is the time for policymakers to protect tax policies that encourage private investment in Indiana’s energy and infrastructure; ensure stability for businesses and investors, giving them confidence to plan long term; and continue supporting Indiana’s pro-business, pro-growth economic strategy.

Indiana’s future is bright—but only if we maintain the policies that make our state an attractive place to invest. Let’s keep private capital flowing, businesses expanding and Hoosiers working. Reach out to your congressman to support Indiana growth and the federal solar tax credit program.•

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Strobel is a partner, co-founder and co-CEO of Monarch Private Capital.