The Redevelopment Tax Credit (RTC) provides an incentive for investment in the redevelopment of vacant land and buildings as well as brownfields. This credit, established by Indiana Code § 6-3.1-34, provides companies and developers an assignable income tax credit for investing in the redevelopment of communities, improving quality of place and building capacity at the local level.

The IEDC may not award more than $50 million in credits each state fiscal year. Any credit award over $7 million must include a requirement that a portion of the credit be repaid by the company or developer.

The application for Redevelopment Tax Credits can be found here.

Notice: During the 2021 state fiscal year, which runs from July 1, 2020 to June 30, 2021, the IEDC will award up to $30 million in RTC to eligible projects around the state. The IEDC will accept applications between February 22, 2021 and March 12, 2021. Award determinations on these applications will be made by April 19, 2021.