Incentives

The Westfield Economic Development team takes a personalized approach to negotiating incentives, recognizing that each client has unique goals and needs. By working closely with businesses of all sizes and sectors, the team crafts tailored incentive packages that align with strategic growth plans while supporting long-term success in Westfield. This customized process ensures that each project receives the attention and flexibility necessary to maximize value for both the client and the community.

Explore the Incentives

Workforce Incentives

  • Skills Enhancement Fund, SEF (IEDC, State) - Provides assistance to businesses to support training and upgrading skills of employees required to support new capital investment. The grant may be provided to reimburse a portion (typically 50%) of eligible training costs over a period of two full calendar years from the commencement of the project
  • DWD Next Level Jobs Employer Training Grant (State) - Reimburses employers who train, hire, and retain new or incumbent workers to fill in-demand positions within recognized job fields
    • Reimburses employers up to $5,000 per employee who is trained, hired, and retained for six months, up to $50,000 per employer
  • Employer-Provided Childcare Credit (Federal) - Businesses are eligible for a tax credit when they provide childcare for their employees
  • Work Opportunity Tax Credit (Federal) - WOTC is available to employers for hiring individuals from certain targeted groups who face barriers to employment
    • Ex.) Veterans, Second Chance Employees

Development Incentives

  • Tax Increment Financing (Local) - TIF allows the city to use incremental tax revenues generated by development to pay for the public improvements, such as roads and utilities, within the TIF district. For more information about TIF, schedule a meeting with the Economic Development team.
  • Westfield Facade Improvement Grant Program (Local) - Improvement of the exterior of the real property
  • Indy MPO Transportation Improvement Program (Regional) - The TIP is a four-year plan for Central Indiana infrastructure. Depending on the type of project, the TIP tracks, schedules, and funds projects in Central Indiana based on regional priorities and cooperative input from communities throughout the area.
  • Industrial Development Grant Fund (IEDC, State) - Provides assistance to municipalities and other eligible entities as defined under I.C. 5-28-25-1 with off-site infrastructure improvements needed to serve the proposed project site.
  • CIFI Housing and Community Development Financing (State) - Offer loan services to Indiana organizations seeking to improve their neighborhoods through affordable housing or community facilities.
    • Both non-profit and for-profit businesses are invited to apply for project loans that will revitalize or stabilize low-income and underserved communities
    • Includes stages such as: Pre-development, Acquisition, Construction, Rehabilitation
  • Community Revitalization Enhancement District Tax Credit, CRED (IEDC, State) - The credit is available to taxpayers that make qualified investments for the redevelopment or rehabilitation of property located within a revitalization district. Only those projects that the IEDC expects to have a positive return on investment will be considered.
  • Redevelopment Tax Credit (IEDC, State) - Provides an incentive for investment in the redevelopment of vacant and underutilized 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.

Business Attraction

  • Real Property Tax Abatement (Local) - Phase in of taxes for real property, excluding the cost of land. Incentives are negotiated on a case-by-case basis.
  • Personal Property Tax Abatement (Local) - Eligible for personal property that is new to the State of Indiana. Incentives are negotiated on a case-by-case basis. 
  • Duke Energy Economic Development Incentive (Regional) - Rider 58, allows for a reduction up to 30% (depending on qualifying factors) on the Duke Energy electric bill (except for applicable sales tax) for any new or additional (incremental) load associated with an economic development project.
  • Data Center Sales Tax Exemption (IEDC, State) - Provides a sales and use tax exemption on purchases of qualifying data center equipment and energy to operators of a qualified data center for a period not to exceed 25 years for data center investments of less than $750 million. 
  • Headquarters Relocation Tax Credit, HRTC (IEDC, State) - Provides a tax credit to corporations that relocate their headquarters to Indiana. The credit is assessed against the corporation’s state tax liability
  • Foreign Trade Zone (Indianapolis Airport Authority, State) - Foreign Trade Zone Companies that import or re-export can realize substantial time and financial savings 
  • Hoosier Business Investment Tax Credit, HBI (IEDC, State) - Provides incentive to businesses to support job creation, capital investment and to improve the standard of living for Indiana residents. 
  • Economic Development for a Growing Economy. EDGE (IEDC, State) - Provides an incentive to businesses to support jobs creation, capital investment and to improve the standard of living for Indiana residents. The refundable corporate income tax credit is calculated as a percentage (not to exceed 100%) of the expected increased tax withholdings generated from new jobs creation. 
  • Research & Development Incentives (IEDC, State) - Offers two tax incentives targeted at encouraging investments in research and development. Taxpayers may receive a credit against their Indiana state income tax liability calculated as a percentage of qualified research expenses or taxpayers may be refunded sales tax paid on purchases of qualified research and development equipment.
  • Conexus Manufacturers Readiness Grant (State) - Have helped manufacturers make innovative capital investments in smart manufacturing within their Indiana operations—leveraging technologies from advanced communications to cobots to the Industrial Internet of Things (IIoT) and beyond.
  • Venture Capital Investment Tax credit (IEDC, State) - Improves access to capital for fast growing Indiana companies by providing individual and corporate investors an additional incentive to invest in early- stage firms and qualified investment funds. Investors who provide qualified debt or equity capital to qualified Indiana businesses or qualified investment funds may receive a credit against their Indiana tax liability
  • International Center Relocation Services (The International Center, State) - Works directly with expatriate employees and their accompanying partners and families, providing individualized person-to-person support for short- and long-term assignees. Our goal is to minimize the confusion, anxiety and time involved in setting up a household in a new country, so employees can quickly focus on their new job assignments, and experience greater satisfaction in both their new work and home lives.
  • Advance Energy Project Credits (Federal) - Manufacturers and other entities that invest in qualifying advanced energy projects may apply for a tax credit through the Department of Energy. 

Business Expansion

  • Real Property Tax Abatement (Local) - Phase in of taxes for real property, excluding the cost of land. Incentives are negotiated on a case-by-case basis.
  • Personal Property Tax Abatement (Local) - Eligible for personal property that is new to the State of Indiana. Incentives are negotiated on a case-by-case basis. 
  • Hoosier Business Investment Tax Credit, HBI (IEDC, State) - Provides incentive to businesses to support job creation, capital investment and to improve the standard of living for Indiana residents.
  • Economic Development for a Growing Economy, EDGE (IEDC, State) - Provides an incentive to businesses to support jobs creation, capital investment and to improve the standard of living for Indiana residents. The refundable corporate income tax credit is calculated as a percentage (not to exceed 100%) of the expected increased tax withholdings generated from new jobs creation.
  • Conexus Manufacturers Readiness Grant (State) - Have helped manufacturers make innovative capital investments in smart manufacturing within their Indiana operations—leveraging technologies from advanced communications to cobots to the Industrial Internet of Things (IIoT) and beyond.
  • Foreign Trade Zone (Indianapolis Airport Authority, State) - Foreign Trade Zone Companies that import or re-export can realize substantial time and financial savings
  • SBA 504 Loan (Federal) - Can be used for a range of assets that promote business growth and job creation. The maximum loan amount for a 504 loan is $5.5 million. These include the purchase or construction of: 
    • Existing buildings or land
    • New facilities 
    • Long-term machinery and equipment with a useful remaining life of a minimum of 10 years, including project-related AI-supported equipment or machinery for manufacturing products

Small Business

  • Duke Energy Foundation Local Impact Grant (Local) - Focus on programs aligned with vibrant economies, climate resiliency and justice, equity and inclusion.
    • Up to $20,000
  • Business Ownership Initiative (Indy Chamber, Regional) - Great opportunity to apply for a low-interest loan and receive 1:1 business coaching. Loans are offered to an existing business with at least 6 months of business financials.
    • Loans range from $1,000 - $50,000
    • Interest rates range from 6%-9% with fees (application and closing) of up to 3%
  • Small Business Administration (Federal) - Microloan to help small businesses and certain not-for-profit childcare centers start up and expand.
    • Up to $50,000
    • Interest rates: 8 – 13%
  • SBA 7 (a) Loan (Federal) - Primary business loan program, provides loan guarantees to lenders that allow them to provide financial help for small businesses with special requirements
  • Grants.gov (Federal) - Funding Solutions for a Stronger Nation - Explore grant opportunities and join forces with government agencies to tackle pressing challenges.
  • Venmo Grant (Global) - Used toward expanding workspaces to investing in new products, these funds help support small business owners as they grow their businesses to the next level.

Not-For-Profit Assistance

  • Duke Energy Foundation Local Impact Grant (Local) - Focus on programs aligned with vibrant economies, climate resiliency and justice, equity and inclusion.
    • Up to $20,000
  • MIBOR Community & Economic Development Grant (Local) - Priorities of this grant include housing, regional workforce initiatives, quality of life projects, regional collaboration programs
  • Hamilton County Non-Profit Grant Application (County) - Hamilton County provides discretionary grants for nonprofit organizations that meet certain criteria. Awards are provided based on application score and funding available.
  • Hamilton County Tourism Grant (County) - Provide grants to tourism-focused non-profits with Planet, Prosperity, People, and Place as the guiding principles.
  • Community Foundation (County) - Working with donors and not-for-profit organizations to improve and enhance the community for those residing in Hamilton County
  • Indiana Sports Corp. Team Indiana Grant (State) - Any organization hosting a sporting event in Indiana is eligible to apply for a grant. Check out the grant guidelines for all the requirements.