Small Business Incentive Programs in Indiana

Agency: Indiana Economic Development Corporation

This competitive program supports Indiana companies developing innovative technologies and research-based products. The fund provides grants and loans to help businesses bridge the gap between research and commercialization, making it valuable for tech-focused LLCs looking to scale their operations and bring new products to market in high-growth sectors.

Agency: Indiana Economic Development Corporation

Designed to attract and retain manufacturing businesses, this program offers grants to companies making significant capital investments in Indiana facilities. LLC owners in manufacturing can use these funds for equipment purchases, facility expansions, or relocation costs while creating quality jobs that meet specified wage requirements in their communities.

Agency: Indiana Office of Community and Rural Affairs

This federally-funded program helps small businesses in rural and smaller communities access capital for expansion and job creation. LLC owners can benefit from low-interest loans and grants for equipment, facilities, or working capital when their projects create opportunities for residents in economically disadvantaged areas throughout Indiana's smaller communities.

Agency: USDA Rural Development Indiana

This federal program specifically targets rural business development in Indiana communities under 50,000 population. LLC owners in rural areas can access grants for business expansion, equipment purchases, or facility improvements that create jobs and strengthen local economies, making it particularly valuable for agricultural, manufacturing, and service businesses.

Agency: U.S. Small Business Administration

The SBIR program provides grants to small businesses conducting innovative research with commercial potential across multiple federal agencies. Indiana LLC owners engaged in technology development, scientific research, or product innovation can access substantial funding through this highly competitive program while retaining intellectual property rights and developing breakthrough technologies.

Economic Development for a Growing Economy Tax Credit

This performance-based tax credit rewards businesses for creating new jobs and making capital investments in Indiana. Credits can offset Indiana income tax liability and may be carried forward up to 10 years if not fully utilized in the award year.

Eligibility: Businesses creating new full-time jobs with wages meeting county average requirements and making qualifying capital investments in Indiana facilities or equipment.

Research and Development Tax Credit

Indiana offers a tax credit equal to 15% of qualified research expenses that exceed the base amount, encouraging businesses to invest in innovation and development activities. The credit can be applied against Indiana income tax liability.

Eligibility: Businesses conducting qualified research activities in Indiana that meet federal research credit definitions and maintain adequate documentation of research expenditures.

Hoosier Business Investment Tax Credit

This credit provides incentives for businesses making significant capital investments in qualified property including machinery, equipment, and technology upgrades. The credit equals 5% of qualified investment costs.

Eligibility: Businesses making capital investments in new manufacturing equipment, information technology systems, or other qualifying business property located in Indiana.

Small Business Investment Tax Credit

Designed specifically for small businesses, this credit encourages capital investment in equipment and technology. The credit helps offset the costs of modernizing operations and improving productivity through qualifying investments.

Eligibility: Small businesses with gross receipts under specified thresholds making qualified investments in depreciable business property located and used in Indiana.