A range of local and state incentives are available to qualifying companies in the South Bend - Elkhart Region to support new, expanding and relocating companies. The South Bend - Elkhart Regional Partnership can help identify potential economic incentives that will match best with your relocation and/or expansion, and facilitate the incentives process with local and State leadership.
The municipalities and counties in the South Bend - Elkhart Region offer tax abatement, TIF, enterprise zones, industrial revenue bonds, industrial revolving loans. For more detail on each specific county’s incentives, visit their website by clicking a county name below:
Indiana state incentives are administered by the Indiana Economic Development Corporation (IEDC). The best mix of incentives is determined on a project basis while the amounts of each incentive are based on a number of factors, including the number of new jobs, capital investment, and average wages. Indiana offers many business tax incentives, corporate tax credits and economic development programs for companies creating new jobs and investment in Indiana. Our business tax structure is also very competitive. Indiana’s corporate income tax is decreasing from the current 6.5% to 4.9% by 2021. As the decrease is phased in, the tax rate will drop each year. Indiana has a flat state corporate tax rate on adjusted gross income and no gross receipts tax or inventory tax. View Indiana Incentives
Through a variety of programs and resources, the Michigan Economic Development Corporation offers personalized assistance for businesses starting, relocating or expanding operations in the state. In addition, the state of Michigan ranks among the top 10 states for major new and expanded facilities due to a fair and efficient 6% corporate income tax and $500 million in annual business savings through the elimination of industrial personal property tax. View Michigan Incentives
Foreign Trade Zones
Foreign Trade Zones (FTZs) are special economic zones in the United States where imported goods can be stored, distributed, processed and used without being subject to customs duty. FTZs provide customs-related advantages to help U.S. companies compete in the global marketplace.
Taking Advantage of FTZ #125
- Located on I-80/90, the principle U.S. truck route, the South Bend Foreign Trade Zone places you at the center of a major Midwestern transportation hub.
- Imports are landed then quickly moved into the Foreign Trade Zone without full customs processing.
- U.S. duty, applicable internal revenue taxes, quota restrictions, and bonding, do not apply to goods held in the Foreign Trade Zone.
- Duty is owed only when the goods are removed from the Zone.
- Assembly, processing, and manufacturing, may occur in the Zone at cost savings. Many other activities are also permissible.
- Processed or manipulated goods may qualify for lower duty freight charges.
- Imported goods qualify for the "Made in the USA" label if value added in the Zone is substantial.
The Opportunity Zones program is a new federal economic development tax incentive designed to funnel private investment to low and moderate-income Census tracts across the U.S. The incentive provides Investors the opportunity to temporarily defer or avoid taxes on capital gains – profits from the sell of an investment – if those gains are reinvested in an Opportunity Fund benefiting low-income communities. These communities are designated as “Qualified Opportunity Zones (QOZ).” Each state will be allowed to designate up to 25% of the eligible tracts for Opportunity Zone status, with the final selections being made by the state’s governor. As of April, Census tracts in 18 states had been designated as Opportunity Zones. These are available for viewing on a map available through CDFI Fund.
Opportunity Zones Located in the South Bend - Elkhart Region
|Tract #||Reference||Total Population||Median Income||Households in poverty||Total Jobs||Total Businesses||County||State|
|18039000302||Goshen (Industrial Development)||6,242||36,935||15%||13,685||344||Elkhart||IN|
|18039001601||Elkhart (River District)||4,910||39,528||6%||5,049||348||Elkhart||IN|
|18039002300||Elkhart (Southwest Industrial Area)||2,582||23,877||27%||3,318||161||Elkhart||IN|
|18039002900||Elkhart (Contiguous Tract to River District)||4,852||32,900||20%||4,686||373||Elkhart||IN|
|18099020500||Plymouth (Mixed Use)||3,466||30,845||37%||7,896||441||Marshall||IN|
|18141000900||South Bend (East Bank)||1,443||30,744||23%||3,530||230||St. Joseph||IN|
|18141001000||South Bend (Innovation Park Notre Dame)||3,469||30,351||30%||1,057||98||St. Joseph||IN|
|18141001700||South Bend (Central Business District)||1,697||17,432||34%||10,368||577||St. Joseph||IN|
|18141002700||South Bend (Renaissance District/Ignition Park)||1,783||26,441||39%||3,832||166||St. Joseph||IN|
|18141002900||South Bend, Near Southeast
(Michigan to Miami, South of Sample)
|18141010200||Mishawak (Downtown)||5,509||33,671||21%||4,104||299||St. Joseph||IN|
|18141011100||St. Joseph County (Airport/SB Chocolate Development)||4,525||41,348||19%||695||108||St. Joseph||IN|
|26021002500||Benton Harbor, Michigan||2,417||33,985||22%||2,572||52||Berrien||MI|
|26021002100||Fair Plain, Michigan||2,545||20,439||45%||5,482||362||Berrien||MI|
|26021000400||Benton Harbor, Michigan||2,114||13,895||62%||2,910||224||Berrien||MI|
|26021010300||Watervlie City/Township, Michigan||4,662||40,521||17%||2,025||150||Berrien||MI|
|26027002100||Cass County, Michigan||5,973||36,064||25%||3,128||267||Cass||MI|