AIEZ - Association of Indiana Enterprise Zones AIEZ AIEZ
 

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We invest in Indiana___________

  • Capital reinvestment by zone businesses exceeds $250 million.
  • Total tax savings are less than $25 million.
  • For every $1 in tax savings, $10 is invested in new capital improvements by zone buisnesses.

We stimulate job growth________

  • Over 3,000 new jobs are created. Zone residents fill nearly of these jobs.
  • Wages are paid in excess of $1.5 billion.
  • Of the new jobs created, jobs filled by zone residents increased an average of 15%.

We build strong communities_____

  • Local urban enterprise associations (UEAs) invest more than $4.5 million of business contributions in projects and programs.
  • Local UEAs leverage and additional $1-3 million of external resources.

We promote partnerships________

  • UEAs are private non-profits that leverage a variety of public and private resources for urban revitalization.
  • UEAs represent diverse interests - residents, business, and government - to find common solutions

We enhance the quality of life_____

  • Holistic approach. We promote community economic development. We revitalize the business community, and we invest in and support zone residents and neighborhoods.
  • A benchmark of excellence. Indiana's enterprise zone program was a model for the Federal Empowerment and Enterprise Community programs.

The bottom line_________________

  • Self-supporting. State administration and local UEAs are supported wholly by business financial commitments, not by State tax dollars.
  • A sound investment. The enterprise zone is a public-private partnership of diverse interests that creates wealth for residents, communities and Indiana. For every $1 in tax savings, $14 in all investment (capital, wages, and community development is created.

Opportunities__________________
To be responsive to Indiana's changing economic climate and the needs to urban communities, AIEZ seeks:

  • Economic development incentives - New or enhanced State tax incentives and technical corrections to existing incentives to support urban revitalization and brownfield redevelopment.
  • Program accountability - Better communication and information sharing among all levels of government and UEAs concerning zone tax incentive disclosure.
  • State Zone Board composition - Changes in State Zone Board representation to include the Indiana Department of Revenue, Indiana Department of Environment Management, Sate Board of Tax Commissioners, Indiana Development Finance Authority, Business Modernization and Technology, and Indiana Workforce Development.
  • Flexibility in administrative funds - Increased flexibility in use of administrative funds for urban revitalization and brownfield redevelopment.
  • Program registration and compliance - Changes in registration to better facilitate fair and equitable compliance.

 

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