Using tax incentives , an EV commission and membership in a regional network promoting EV infrastructure, the Holcomb administration is looking to increase EV manufacturing statewide.
Read More
Production of two new electric vehicles—one branded Toyota and the other in the Lexus line—is expected to begin in mid- to late 2023 at the plant in Princeton.
Read More
Private meetings between legislators and lobbyists for data center companies resulted in rewritten incentive provisions that were not reviewed in public and were inserted in the final bill.
Businesses have filed at least 3.6 million claims for the Employee Retention Credit since the program’s debut. It has distributed at least $232 billion, far exceeding Congress’s initial expectations.
The emerging deal would make the existing child tax credit more generous, a major Democratic priority. In exchange, it would also continue several business tax breaks favored by corporate America, a Republican priority.
Narrower criteria reduced the number of qualifying models to 13 from about two dozen, according to federal data. The new rules exclude from the tax credit vehicles that use battery components made by Chinese manufacturers.
Bridges Townhomes on the east side, Grand Meridian on the near-north side and Richardson Townhomes at the Central State Hospital campus each received tax credits as part of the 9% Low-Income Housing Tax Credit program for 2024.
Dealers say the lack of clarity has made it hard for them to promote EVs to buyers because no one is sure how long certain vehicles will qualify for the $7,500 credit.
The projects in Anderson, Indianapolis and Noblesville were among 17 statewide to be awarded Low Income Housing Tax Credits, totaling more than $180 million in value over 10 years.
The bonds and tax credits provided through the Indiana Housing and Community Development Authority are used to incentivize private developers to fund the acquisition, rehabilitation and construction of affordable housing communities.
A tax credit of up to $7,500 could be used to defray the cost of an electric vehicle under the Inflation Reduction Act now moving toward final approval in Congress. But the auto industry is warning that the vast majority of EV purchases won’t qualify for a tax credit that large.
The Low-Income Housing Tax Credit program, in conjunction with the Multifamily Tax Exempt Bonds, are used to incentivize private developers to fund the construction, acquisition and rehabilitation of affordable housing communities throughout Indiana.
Eligible productions could include film, television, music or digital media. State Rep. Bob Morris (R-Fort Wayne) said the legislation could make Indiana a leading state for film and media production.
The U.S. economy is on the verge of potentially the greatest boom time of all time, according to Peter “Pete the Planner” Dunn. It will be fueled at least in part by the enhanced child tax credit, which is part of the American Rescue Plan stimulus package.
The Indiana Economic Development Corp. has pledged $8 million in conditional tax credits to San Francisco-based Stitch Fix, based on its hiring plans.
State economic development officials have pledged more than $8 million in tax credits if Aptiv can meet its hiring goals, but neither they nor the firm will share other details about the project.
The Indiana Economic Development Corp. has offered JDA Worldwide and its newly created parent company, Prolific, up to $2.2 million in tax credits to support its expansion plans.
It’s been more than two years since the city and state chose four developers to build 500 affordable housing units—including some reserved for people experiencing homelessness.
Turning a former German social club and gym into the offices of a medical claims management organization and international travel insurance company was no small order—especially because the building had to remain more-or-less true to its original form to qualify for the federal Historic Tax Credit program.
GCI Slingers said it will add 10,000 square feet to its existing 20,000-square-foot facility at 5005 W. 106th St.
The city of Indianapolis is set to receive $55 million in New Markets Tax Credits from the U.S. Department of the Treasury, which it will use to finance high-impact projects in low-income or distressed areas.
The 254-unit Nora Pines would be renamed but remain affordable housing. TWG Development is asking the city to issue $17.6 million in bonds for the project, which the developer would be responsible for repaying.
