Incentive Offering

Carroll County Wants Your Business!
We’ll work hard for you and offer competitive packages with state and local incentives to meet your needs!  Give us a call.

Local Incentives

Property Tax Abatement
Carroll County offers tax abatements for periods up to ten (10) years on increased tax assessments as a result of improvements made to real property.  A ten (10) year partial tax abatement may also be available for increased business personal property as a result of the installation of new manufacturing equipment.  This equipment must be used in the direct production, manufacture fabrication, assembly, extraction, mining, processing, refining or finishing of other tangible personal property.
Tax abatements in each instance, are allowable only within areas designated as “Economic Revitalization Areas.”

Economic Revitalization Area designation:
Under Public Law (I.C.6-1.1-12.1-1, as amended), Carroll County may designate geographic areas of the county Economic Revitalization Areas.  An Economic Revitalization area must have “become undesirable for, or impossible of, normal development and occupancy” due to a factor such as:

Tax Increment Financing
Tax Increment Financing (TIF) provides for the temporary allocation to redevelopment or economic districts of increased tax proceeds in an allocation area generated by increases in assessed value. Thus, TIF permits cities, towns, or counties to use increased tax revenues stimulated by redevelopment or economic development to pay for the capital improvements needed to induce the redevelopment or economic development.

Bonds payable from TIF may be used to finance the cost of redevelopment and the construction of public improvements in the redevelopment area or for projects that directly serve or benefit that area. Proceeds may also be used for training.

Bond amounts are determined by the size of the project and the amount of the increment available. The 1992 General Assembly passed legislation allowing depreciable personal property (machinery and equipment) to be used in computing the increment in addition to real property.

Community Revitalization Enhancement District (CRED)
Special incentive packages are offered to private entities based on the capturing of incremental sales tax and / or state income tax.

A taxpayer is entitled to a credit against the taxpayer's state and local tax liability for a taxable year if the taxpayer makes a qualified investment in that year. The amount of the credit to which a taxpayer is entitled is the qualified investment made by the taxpayer during the taxable year multiplied by twenty-five percent (25%). A taxpayer may assign any part of the credit to which the taxpayer is entitled to a lessee of property redeveloped or rehabilitated.

State Incentives

Indiana Economic Development Corporation