Eligibility

The credit is available to taxpayers that make qualified investments in the redevelopment or rehabilitation of a qualified redevelopment site. A qualified redevelopment site is vacant or underutilized property in Indiana as determined by the IEDC. The IEDC will evaluate a project based on a number of factors including its potential impact on the local community, the likelihood the project will spur additional investment, the level of support for the project from local and regional stakeholders, and the project’s alignment with a regional or local development plan. Only projects that the IEDC expects to have a positive return on investment will be eligible for a tax credit award.

The IEDC may increase the award amount by no more than 5% if the site is located in a federally designated Opportunity Zone or qualifies for New Markets Tax Credits and the applicant can show that this funding was actively pursued.