STATEHOUSE (May 1, 2009) - Attracting to Indiana high-tech businesses specializing in computing, networking or data storage is the aim of Senate Bill 448, which has been passed by the Indiana General Assembly.
The bill allows counties and municipalities to exempt from taxation certain personal property such as computers and electric generators. To be eligible for the exemption, a company's investment is required to total at least $10 million in real and personal property and they must offer an average employee wage 125 percent of the average county wage.
Senate Bill 448 is authored by State Sen. Ed Charbonneau (R-Valparaiso), along with State Sens. Joe Zakas (R-Granger) and John Broden (D-South Bend).
"This legislation opens the door of opportunity to attract data centers and the high-tech jobs that come with them," Zakas said. "This is a very positive development for our community."
"This tax incentive should help bring high-tech data centers to northern Indiana," Charbonneau said. "Along with our lower electric rates and position on the national fiber-optic cable networks, we believe this tax break will bring in these businesses which have been choosing to locate in other states."
"Already, Indiana has lost out on more than $35 million dollars in taxes," Charbonneau said. "Jobs that should be filled by Hoosiers are now occupied by people in neighboring states."
Charbonneau said Allstate, Northern Trust, Microsoft and Google - just to name a few - considered building in Indiana but chose Illinois because the state provides the same personal property tax exemption that could soon be added to the Hoosier law books.
"I strongly believe this legislation will enable St. Joseph County to attract the high wage jobs associated with this industry," Broden said. "This legislation coupled with the investments in nanotechnology, will position northern Indiana to be a hub for job creation in the area of technology and information."
Sen. Zakas represents Senate District 11, which includes portions of St. Joseph and Elkhart counties.
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