Former Gov. Mitch Daniels' Newsroom

Contact: Jane Jankowski
Phone: 317/232-1622

For Immediate Release: Mar 23, 2006
Daniels signs bill to stimulate economic investment

INDIANAPOLIS (March 23, 2006) ? Governor Mitch Daniels today signed into law House Enrolled Act 1380, which will make it easier for companies to invest and grow in Indiana.

?The most important thing we can do is build the best sandbox in America, the very best business environment with the very best climate for new jobs,? said Daniels. ?Between the Major Moves roads and jobs bill, the telecommunications reform bill, and this bill, the Indiana sandbox has taken a dramatic step forward to becoming even more attractive and receptive to the new investment and the new kind of jobs we will need in this state.?

HEA 1380 makes available to smaller businesses, incentives from the Indiana Economic Development Corporation including the headquarters relocation tax credit and EDGE tax credit extension, which encourages companies to hire Hoosiers and grow their operations in Indiana. The bill also authorizes counties, cities, and towns currently receiving county economic development income taxes to establish local and regional venture capital funds.

?Though Indiana is on a hot streak right now, we have a massive undertaking to bring about an economic comeback in this state. Through this bill, and others like it, we will continue to tell the world that Indiana is open for business,? said Daniels.

Authors of the bill are Rep. John Smith, R-Kokomo and Rep. Jackie Walorski, R-Lakeville. The Senate sponsors of the bill are Sen. David Ford, R-Hartford City and Sen. David Long, R-Fort Wayne. Other legislators providing language integral to the bill include Rep. Randy Borror, R-Fort Wayne, Rep. Tim Harris, R-Marion, and Rep. Matt Bell, R-Avilla.