Representative Randy Borror


Contact: Jennifer Stevens
Phone: 317-232-9658
Email: jstevens@iga.state.in.us
For Immediate Release: Feb 24, 2005
Rep. Borror’s Bill on Corporate Headquarters Relocation Passes Out of Committee

(Statehouse) Feb. 24, 2005 – A bill co-authored by Randy Borror (R- Fort Wayne) concerning corporate headquarters relocation passed out of the Ways and Means Committee by a vote of 16 to 0. The bill will now move to the full House of Representatives for a vote.

“Relocation credits will help to increase economic development in Indiana by attracting new businesses’ corporate headquarters to our state,” said Rep. Borror. “By decreasing relocation costs for businesses this bill will encourage Indiana’s economic development.”

House Bill 1422 encourages economic development in Indiana by offering businesses that relocate their corporate headquarters to Indiana a credit against state tax liability. Indiana will offer the business a credit equal to 50% of the costs incurred in relocating the headquarters to the state.

“By offering these credits, we are showing the nation that Indiana is serious about economic development and showing businesses that we will work with them to help minimize relocation costs,” said Rep. Borror. “I believe this bill is an important step in reaching our ultimate goal of economic development in Indiana.”


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