Industrial Development Grant Fund



Description

 

The Industrial Development Grant Fund (IDGF) provides assistance to municipalities and other eligible entities as defined under I.C. 5-28-25-1. The grant may be provided to reimburse a portion (typically up to 50%) of eligible public infrastructure costs over a period of two full calendar years from the commencement of the project.

 

Eligible EXPENSES

 

Eligible infrastructure expenses include:

• Lease, purchase, construction or repair of real and personal public property

• Preparation of surveys, plans and specifications for construction of publicly owned and operated facilities, utilities and services

• Construction of airport facilities

• Construction of tourist attractions

• Construction, extension or completion of:

    1. Sewer lines and other drainage facilities

    2. Waterlines

    3. Roads and streets

    4. Sidewalks

    5. Rail spurs and sidings

    6. Fiber-optic and other IT infrastructure

 

EVALUATION CRITERIA

 

Each project will be evaluated on its individual merits and with a cost-benefit analysis after it has met the basic requirements as follows:

• Infrastructure cost is used to support new capital investment in Indiana

• Infrastructure cost is used to support the retention or creation of full-time, permanent jobs for Indiana residents at the project location

• Training cost is eligible, supports the purpose of the fund, and meets all requirements as set forth in I.C. 5-28-25

 

REPORTING REQUIREMENTS

 

Upon execution of an infrastructure grant contract with IEDC, the eligible entity will be required to report for every calendar year during the term of the contract which is approximately seven years.

 

Information Required:

• Summary statistics relating to capital investment that occur in the applicable year

• Individual employee data to support contractual employment thresholds

• Infrastructure line-item expense information will be required for each payment request made by the eligible entity with supporting proofs of payment

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Fact Sheet

Industrial Development Grant Fund