Businesses grow better in a positive business climate
Businesses that choose to locate or expand in Orange County can expect to find progressive economic development policies that promote investment and encourage financial success.
The positive business climate is complemented by the knowledge and wide scope of established relationships that Orange County connects you with – ranging from regional businesses and governmental entities to academic institutions and other resource providers.
Learn more about the companies who have chosen to invest here and how our business climate can help your business:
- A culture that fosters innovation and growth, as demonstrated by the success of local start-ups and expanding companies who have chosen to invest here in recent years
- A very competitive cost of doing business
- The most pro-business climate in the Midwest
Continual business investment and reinvestment in the Region
Here are just a few of the companies that have expanded or relocated to Orange County in recent years.
|Hudelson Machine Shop||Metal Fabrication|
|Liner Products, a division Layne, Inc.||Manufacturing|
|ProFab Custom Metalworks||Metal Fabrication|
Cost of Doing Business
Indiana is the Midwest’s most affordable business location
Locate or expand your business in Indiana and take advantage of the lowest business costs in the Midwest.
|COST OF DOING BUSINESS COMPARISON|
|Business Costs||Total State Business Taxes / Sum of Corporate State Income Tax, Workers’ Compensation and Unemployment Insurance||Business Income Tax Due Per Net Taxable Income of $1,000,000||Average Workers’ Compensation Annual Premium Base on 100 Employees||Average Workers’ Compensation Rate||Average Unemployment Insurance Based on 100 Employees|
Source: Indiana Economic Development Corporation, 2007
*N/A: Not applicable.
Business Climate Rankings
Indiana is recognized as one of the best in Midwest when it comes to business climate
We’ve methodically created a business environment where conditions are set for success. Whether it’s minimizing operating expenses or delivering the workforce training and infrastructure you need to grow, Indiana is one of the most business-friendly states in America.
BEST BUSINESS ENVIRONMENT
- Indiana ranks 1st in the Midwest and 5th in the nation in Chief Executive magazine’s annual “Best & Worst States” survey (May 2013).
- Indiana ranks 1st in the Midwest and 2nd in the nation in Site Selection magazine’s annual Top 10 Competitive States of 2012 ranking (May 2013).
TOP TAX CLIMATE
- Indiana ranks 1st in the Midwest and 10th nationally in the Tax Foundation’s 2014 Business Tax Climate Index (Oct. 2013).
CORPORATE INCOME TAX REDUCTION
Indiana’s corporate income tax rate is steadily decreasing from the current 7.5% to 6.5%. The tax rate will continue to drop by 0.5% per year as the decrease is phased-in.
RANKED TOP 3 FOR 2010 GDP GROWTH
Indiana’s Gross Domestic Product grew 3.3% in 2012, compared to the national rate of 2.5%. That’s the 8th highest growth rate in the country (U.S. Bureau of Economic Analysis).
A RIGHT-TO-WORK STATE
On February 1, 2012 Indiana became the 23rd state in the nation and the first state in the industrial Midwest to pass right-to-work legislation. This new status creates an even more attractive environment for businesses and entrepreneurs alike to move their operations to the Hoosier State. There is strong evidence that the economy is indeed growing, with companies small and large expanding operations and hiring new workers. With the support of the legislative and executive branches of government, businesses can be encouraged by Indiana’s move to join other right-to-work states to better compete for and win America’s business.
AAA CREDIT RATING
Indiana is one of only 11 states to earn the top bond rating from all three major credit rating agencies (S&P, Fitch, Moody’s)
when it comes to favorable business climate.
Source: Indiana Economic Development Corporation