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Enterprise Zones in Indiana

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Presentation on theme: "Enterprise Zones in Indiana"— Presentation transcript:

1 Enterprise Zones in Indiana
Anita Yadavalli, Ph.D. Senior Fiscal Analyst Indiana Legislative Services Agency

2 Enterprise Zones EZs are utilized for the revitalization of traditional downtown areas or old industrial and manufacturing areas that have gone through a protracted period of decline. Zone businesses, which are designated on the basis of high unemployment and poverty rates, receive some combination of labor and capital tax incentives. Program Incentives Investment deduction Employment expense credit Employee income deduction Loan interest credit Investment cost credit Anita Yadavalli Indiana Legislative Services Agency NTA Conference 11/11/2016

3 EZ Firms by Industry Anita Yadavalli NTA Conference
Indiana Legislative Services Agency NTA Conference 11/11/2016

4 Which Firms Are Claiming Incentives?
Majority are claimed by manufacturing firms, which make up only 9% of all zone businesses. Manufacturing firms also employ 3 times as many workers, suggesting that large manufacturing firms are utilizing the tax incentives. Anita Yadavalli Indiana Legislative Services Agency NTA Conference 11/11/2016

5 Effect of Economic Development Efforts on EZ Tax Savings
Anita Yadavalli Indiana Legislative Services Agency NTA Conference 11/11/2016

6 Impact on All Employment
Estimated Effect of Incentive on Employment Marginal Effect of $10,000 increase in Incentive Anita Yadavalli Indiana Legislative Services Agency NTA Conference 11/11/2016

7 Enterprise Zone Participation Fees
Many local UEAs use their revenues for community development projects. Urban Enterprise Association Total Revenue Participation Fee % of Total Revenue Participation Fee % of Total Revenue Bedford $103,000 63% $108,000 75% $85,000 100% East Chicago 512,950 20% 235,184 34% 217,718 35% Evansville 346,834 83% 326,987 98% 371,974 Fort Wayne 419,063 60% 436,556 64% 459,393 68% LaPorte 179,565 451,263 99% 695,899 South Bend 284,898 62,206 93% 54,000 Vincennes 106,888 110,093 112,289 Source: Indiana Urban Enterprise Associations Anita Yadavalli Indiana Legislative Services Agency NTA Conference 11/11/2016

8 Thank You anita.Yadavalli@iga.in.gov Anita Yadavalli NTA Conference
Indiana Legislative Services Agency NTA Conference 11/11/2016

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