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The cost of doing business in Indiana is very favorable as the state’s total business taxes are lower than our adjoining states. This is due in part to Indiana having one of the best workers’ compensation rates and unemployment tax rates. In addition, the state’s average weekly wage is very competitive.
In fact, in June 2003, the Washington, DC-based
research organization Tax Foundation released the results of a study measuring the “business tax friendliness” of all states. In the study, entitled State Business Tax Climate Index, Indiana tied with Tennessee for tenth place, making Indiana the only Midwestern state in the top ten. The study examined composites of five indexes devoted to major features of a state’s tax system that influence business decisions or the state’s economy in general.
In addition, the cost of living is very favorable. Places Rated Almanac ranked the Louisville, KY-IN MSA 174th out of 354 Metropolitan Areas when ranking cost of living.
Places Rated Almanac ranked the region 14th in the top 35 Metropolitan Areas (out of 354) as the Best Overall Places to live.
Additional details on the state’s tax and incentive programs are found in the Taxes and Incentives section of this web site. |
