Business Retention & Attraction Services
(Confidential & No Charge)
The Economic Development Partners is ready to assist local businesses with expansion projects and also new businesses looking to invest
in Jefferson County for the first time. Examples of services available include, but are not limited to:
- Site and building searches
- Facility location studies
- Assistance with qualifying for local incentives
- Marketing assistance to aid in staffing your facility
- Economic and demographic data
- Regional workforce data
- Facilitate access to state incentives and funding assistance
- State, local and regional intelligence
Local Incentives
Jefferson County is committed to attracting companies that provide high-quality jobs that afford us the quality of life our community deserves. To that end, it will prudently utilize the tools that are available in order to make the site location decision easier.
Tax Increment Finance (TIF)
Through the Madison Redevelopment Commission, tax increment financing for economic development projects is available.
Economic Development Revolving Loan Fund
The City of Madison Economic Development Revolving Loan Fund is a unique local incentive featuring a blend of both public and private resources. The program is administered by a committee (primarily of local bankers) that makes recommendations to the city council for final approval. The RLF committee meets as necessary.
Tax phase-in (Abatement)
Tax phase-in (abatement) is designed to encourage new capital investment by providing deductions from increases in the assessed value of property for property tax purposes. The City of Madison and Jefferson County use this tool to support new and expanding industries.
Approval of tax phase-in (abatement) may involve 2 city or county council meetings. The request for tax abatement would need to be put on the appropriate council’s agenda and a Statement of Benefits completed prior to the meeting. Abatements can be granted for up to 10 years on real property and up to 10 years on new manufacturing equipment.
Once abatement is granted and the project is completed, the owner must file a Deduction Application in the year in which the property is first assessed for property taxes. Annual Deduction Applications are required for new manufacturing equipment. In addition, the owner must annually file a statement showing compliance with the expected benefits shown in the Statement of Benefits previously filed.
State Incentives are offered through the Indiana Economic Development Corporation.
