Local Incentives and Resources
Property Tax Abatements
Tax phase-in gives local government the option of allowing certain businesses to phase-in those new taxes that would otherwise be assessed to their property because of new building construction or the purchase of equipment used for manufacturing, research and development, logistical distribution and information technology.
Industrial Revenue Bonds
Industrial Revenue Bonds, also called Economic Development Revenue Bonds provide financing for economic development projects. The proceeds from the bonds, which can be issued by a local government, are loaned to businesses to pay for buildings or other capital investment projects. The bonds must be paid back by the company. As the issuer of the bonds, the local government’s participation typically results in favorable interest rates and longer terms. Most often, these bonds are tax exempt.
CEDIT Incentive Pool
Offered as a loan or grant from the City of Fort Wayne to a company. Grants are offered to companies paying employees an average annual wage equal to or greater than the Fort Wayne MSA wage. The amount of the loan or grant is based on the number of jobs created and the average annual wages paid.
Tax Increment Financing
TIF districts are established through redevelopment commissions. New taxes generated as a result of development in the TIF may be used as debt service on bonds issued for the purpose of developments and improvements in the area. Proceeds from the bonds may be used to construct public improvements on roads, sewers, etc.
Community Development Corporation
The Community Development Corporation of Northeast Indiana (CDC) is a City of Fort Wayne sponsored 501 c (6) not for profit business development organization. Our primary objective is to promote the growth and development of small commercial and industrial for profit businesses in Indiana through creative loan programs.
Small Business Development Corporation
The purpose of the Northeast Indiana SBDC is to enhance economic development in northeast Indiana by assisting new and existing small business. The SBDC is funded in part through a cooperative agreement with the U.S. Small Business Administration, the State of Indiana, and many local partners, including the City of Fort Wayne and Indiana University-Purdue University Fort Wayne (IPFW).