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Indianapolis Region Headquarters INDIANAPOLIS REGION HEADQUARTERS 111 Monument Circle Suite 1950 Indianapolis, IN 46204 Indy Partnership About Us Who We Are The viability of the Indianapolis region’s strong business climate is creating a buzz of growth. Expansion and attraction projects announced in 2017 will add over 15,200 jobs and over $1.8 billion in capital investment to the region, leading to an ever stronger business climate. A business unit of the Indy Chamber, Indy Partnership is the regional marketing organization for the Indianapolis Region, concentrating its efforts in the following industry clusters: Life Sciences; Motorsports; Distribution and Logistics; Advanced Manufacturing; Technology; and Agribusiness. Located in the heart of the U.S., the Indianapolis Region is one of the best locations in all of North America from which to reach The Indy Partnership’s staff has decades of key U.S. and Canadian markets. cumulative project experience and offers start-to-finish assistance to help businesses make an informed, Our Services strategic location decision. The Indy Partnership provides clients with solid, quantifiable numbers on Information and Data Assistance: workforce, cost of doing business - including Our research team can help you analyze incentives and taxes - available sites, transportation prospective locations by providing cost of doing options and additional relevant data on a county-by- business information, utility rate estimates, county or region-wide basis. community profiles, wage data, demographics and education and training resources. Our business development professionals, working with our local county partners, assist companies throughout Location Assistance: the site selection process as they choose the ideal We’ll provide accurate information on available location for an expansion or location. Let us put our buildings and land to match your exact facility team to work for you. requirements. For more information, visit www.indypartnership.com. Business Incentives: We look forward to hearing from and working with you! We can assist you in identifying applicable incentive programs and estimate the value of qualifying programs, aid in interpretation of incentive packages and connect you to the state and local leaders who can help move your project to completion. The 9-county Indianapolis Region includes Boone, Hamilton, Hancock, Indy Partnership Hendricks, Johnson, Madison, Marion, Morgan and Shelby counties. E-mail: [email protected] Website: www.indypartnership.com Last Updated 5/17/2018 Indianapolis Region Regional Partners Regional Partners The Indy Partnership is a not-for-profit organization dedicated to strengthening the economic growth of the Indianapolis Region. We work closely with economic development organizations in the 9-county region that includes Boone, Hamilton, Hancock, Hendricks, Johnson, Madison, Marion, Morgan and Shelby counties. If you have questions about a specific area of the Indianapolis Region, we encourage you to talk to one of the professionals listed below. HAMILTON COUNTY CITY OF FISHERS CITY OF NOBLESVILLE CITY OF WESTFIELD Brandon Dickinson Judi Johnson Todd Burton Director of Economic Development Economic Development Director Chief of Staff, Economic & Community Development 317-595-3100 317-776-6345 317-804-3170 [email protected] [email protected] [email protected] CORPORATION FOR ECONOMIC DEVELOPMENT BOONE COUNTY ECONOMIC (SERVING MADISON COUNTY) DEVELOPMENT CORPORATION Rob Sparks Molly Whitehead Executive Director Executive Director 765-642-1860 765-482-5761 [email protected] [email protected] HANCOCK ECONOMIC HENDRICKS COUNTY ECONOMIC DEVELOPMENT COUNCIL DEVELOPMENT PARTNERSHIP Skip Kuker Jeff Pipkin Executive Director Executive Director 317-477-7241 317-745-2400 [email protected] [email protected] DEVELOP INDY MORGAN COUNTY ECONOMIC (SERVING MARION COUNTY) DEVELOPMENT CORPORATION Ian Nicolini Mike Dellinger Vice President, Indianapolis Executive Director Economic Development 317-831-9544 317-464-2218 [email protected] [email protected] JOHNSON COUNTY DEVELOPMENT CORPORATION SHELBY COUNTY DEVELOPMENT Dana Monson CORPORATION Interim President and CEO Brian Asher 317-736-4300 Executive Director [email protected] 317-398-8903 [email protected] The 9-county Indianapolis Region includes Boone, Hamilton, Hancock, Indy Partnership Hendricks, Johnson, Madison, Marion, Morgan and Shelby counties. E-mail: [email protected] Website: www.indypartnership.com Last updated 6/5/2018 Indianapolis Region Cost of Doing Business . Lowest cost of doing business among Great Tax Structure Lakes States . 2nd lowest worker comp rates in U.S. Personal Income Tax . Lowest property tax ranking in the Midwest Current State Rate 3.23% . Best overall tax climate in the Midwest Local Option Tax (rates vary by county) . Best infrastructure in the Midwest Range: 1.0 – 2.72% . Rates are applied to adjusted gross income and do not vary based on No inventory or franchise taxes income. Source: Indiana Department of Revenue, 2018 . No tax on most business services . Indiana is a Right To Work State Indiana Corporate Adjusted Gross Income Tax Sources: CNBC, State of Indiana, Tax Foundation Current Rate 5.75% Rate will decrease annually on July 1, resulting in a 4.9% Real Estate Costs rate on July 1, 2021. Rates are applied to adjusted gross income and do not vary based on income. Various incentives are available to eligible companies to reduce Industrial Market (Q3 2018) this rate. Source: Indiana Economic Development Corporation, 2018 Inventory 273,924,481 Sq. Ft. Vacancy Rate 4.5% Avg. Asking Lease Rate/Sq. Ft. $4.34 Indiana Sales and Use Tax 7.00% Exemptions include: Manufacturing raw materials, manufacturing equipment, utilities and other consumables used in production and Office Market (Q3 2018) environmental control equipment used by manufacturers. Inventory 36,735,793 Sq. Ft. Most services are not subject to tax. Source: Indiana Department of Revenue, 2018 Vacancy Rate (Downtown) 13.9% Vacancy Rate (Suburban) 17.4% Avg. Class A Lease $/Sq. Ft. (Downtown) $21.81 Indiana Real & Personal Property Tax (Per $100 Assessed Value) Avg. Class A Lease $/Sq. Ft. (Suburban) $19.28 Average Tax Rate $2.4414 Source: CBRE Range by Taxing Districts $0.8224 - $5.2968 Business property taxes are capped at 3% of the assessed value. Industrial Energy Costs Source: STATS Indiana, 2018 Electricity $7.54 cents/kWh Indiana Unemployment Insurance Natural Gas $5.99/MCF New Employer Rate 2.50% Indiana Industrial Average, 2017 Annual Average Taxable Wage Base $9,500 Source: US Energy Information Administration Percentage rates may be lowered after 36 months of compliance. $9,500 is the maximum taxable amount per employee. Wages Source: Indiana Department of Workforce Development, 2018 Average Annual Wage Indiana Workers' Compensation Indianapolis-Carmel-Anderson MSA $50,868 (per $100 of payroll) Average Rate for Manufacturing $1.73 Indiana $46,192 Average Rate for Office $0.21 United States $55,390 Source: US Bureau of Labor Statistics, QCEW, 2017 Average Rate for All Industry Classes $1.08 Source: Indiana Compensation Ratings Bureau, 2018 Average Hourly Wage Cost of Living Indianapolis-Carmel-Anderson MSA $23.09 Indiana $21.13 Cost of Living Index = 93.2 (100=US Average) United States $24.34 Source: C2ER, Q3 2018 Source: US Bureau of Labor Statistics, OES, 2017 The 9-county Indianapolis Region includes Boone, Hamilton, Hancock, Indy Partnership Hendricks, Johnson, Madison, Marion, Morgan and Shelby counties. E-mail: [email protected] Website: www.indypartnership.com Last Updated 10/31/2018 Indianapolis Region Cost of Living The Indianapolis Region consistently ranks as one of the most affordable places to live and do business in the U.S. According to the National Association of Realtors, the median price of an existing single-family home in the Indianapolis MSA in 3rd quarter 2018 was $188,900. The Midwest average was $206,800 and the national average was $266,900. Cost of Living Index: Q3 2018 100 = US Average Miscellaneous Composite Grocery Health Metro Area Housing Utilities Transportation Goods and Index Items Care Services Seattle 153.6 125.7 213.1 109.6 137.0 124.7 136.9 Chicago 120.8 99.7 154.9 92.8 125.9 101.3 110.6 Baltimore 115.2 111.6 149.7 107.5 91.6 89.7 100.3 Denver 114.3 100.5 140.5 79.3 106.4 102.6 111.9 Minneapolis 107.0 105.0 102.8 98.1 106.2 106.7 114.0 Salt Lake City 105.0 109.7 104.9 89.4 112.6 101.3 106.3 Dallas 103.7 102.7 107.5 104.4 95.7 105.1 102.8 Atlanta 102.7 99.9 108.1 87.0 100.8 108.8 103.5 Pittsburgh 100.4 107.0 99.2 110.7 114.0 94.6 93.2 Austin 99.7 89.7 103.3 96.6 96.6 106.1 101.6 Cleveland 98.1 108.4 85.0 99.6 103.9 101.6 102.3 Phoenix 97.4 99.5 93.2 110.2 100.6 90.7 96.5 Charlotte 97.2 96.0 85.2 93.0 90.6 107.8 108.7 Cincinnati 95.2 91.3 82.2 94.0 101.5 97.5 105.5 Detroit 95.2 86.3 91.5 93.4 107.1 92.8 99.5 Indianapolis 93.2 93.4 80.0 106.2 96.6 92.2 99.2 Source: Council for Community and Economic Research, 2018 The 9-county Indianapolis Region includes Boone, Hamilton, Hancock, Indy Partnership Hendricks, Johnson, Madison, Marion, Morgan and Shelby counties. E-mail: [email protected] Website: www.indypartnership.com Last Updated 11/1/2018 Indianapolis Region Crossroads of America Within the United States, truck delivery is often more economical than ships or trains. Ranking number one in pass-through highways, Indiana is within a one-day drive of 60% of the U.S. population. The median center of U.S. population has fallen within Indiana since 1950. • Four interstate highways intersect in 4 hours 12 hours central Indiana, making the Indianapolis Chicago, IL Atlanta, GA region the leading metro area in America Cincinnati, OH Baltimore, MD with direct interstate access to other Columbus, OH Charleston, SC markets.
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