INDIANA ECONOMIC DEVELOPMENT ASSOCIATION
SUCCESSFULLY PASSES INNOVATIVE ECONOMIC DEVELOPMENT TOOL

Indianapolis, IN – The Indiana Economic Development Association (IEDA) is pleased to announce the passage of SEA 448, which exempts “enterprise class” IT equipment from local personal property taxes.

The IEDA takes this opportunity to thank state legislators for their continued efforts to create important economic development tools. Special thanks goes to SEA 448 author, Sen. Ed Charbonneau (R, Valparaiso), and sponsor, Rep. Terri Austin (D, Anderson), for their support and leadership in this effort.

According to Dennis Maloy, Executive Director, Hancock Economic Development Council, and chair of IEDA’s legislative committee, “This legislation is a valuable new tool for the State of Indiana. Passage of SEA 448 would not have been possible without the help of our partners at the Indiana Association of Cities and Towns, the Indiana Association of Counties, and the Indiana Economic Development Corporation.”

Given Indiana's business friendly environment, creation of this exemption will encourage the location of enterprise-class IT equipment in our state and the high paying jobs that will accompany this investment.

Once in place, this tool will encourage data storage, life sciences, nanotechnology, and other businesses that require large investment in enterprise-class IT equipment to locate in the State of Indiana.

IEDA is a member based, volunteer-governed organization dedicated to economic growth in Indiana. IEDA was formed in 1968 and incorporated in 1982 as a statewide not-for-profit economic development organization. The organization now has over 400 plus members representing state, regional, and local economic development organizations, private corporations, railroads, service providers, and utilities.

Since its inception, IEDA has focused its efforts on two objectives:

• to utilize the knowledge and resources of the association to make economic development activities in the state more effective; and,
• to cooperate and interact with all state and local organizations engaged in promoting the economic welfare of Indiana.