- 2nd lowest worker comp rates in U.S.
- Lowest 10% of real estate cost (major metros)
- Lowest 25% of electricity cost Low property taxes
- Competitive wages and incentives
- No inventory or franchise taxes
- No tax on business services
| Real Estate Q1 2010 (Indianapolis MSA only) |
| Industrial Market |
|
| Inventory |
240,155,000 Sq. Ft. |
| Vacancy Rate |
10.5% |
| Manufacturing Av.g Net Lease rate/Sq. Ft. |
$2.03 |
| W/D Avg, Net Lease Rate/Sq. Ft. |
$3.00 |
| Office Market |
|
| Inventory |
35,400,858 Sq. Ft |
| Vacancy Rate (Downtown) |
20.7% |
| Vacancy Rate (Suburban) |
22.9% |
| Avg. Gross Lease Rate/Sq. Ft. (Downtown) |
$19.56 |
| Avg. Gross Lease Rate/Sq. Ft. (Suburban) |
$20.13 |
Source: Summit Realty, Cassidy Turley.
| Tax Structure |
| Personal Income Tax |
|
| State Rate |
3.40% |
| Local Option Tax |
|
| Resident |
1.0% |
| Non-Resident |
0.25% |
| Rates are applied to adjusted gross income and do not vary based on income. |
| Corporate Franchise Tax |
None |
| Corporate Adjusted Gross Income Tax |
|
| Gross Rate |
8.50% |
| Rates are applied to adjusted gross income and do not vary based on income. Various incentives are available to eligible companies to reduce this rate. |
| Sales and Use Tax |
7.00% |
| Exemptions include: Manufacturing raw materials, manufacturing equipment, utilities and other consumables used in production and environmental control equipment used by manufacturers. Most services are not subject to tax. |
| Business Property Taxes |
Per $100 AV |
| Median Tax Rate |
$1.74 |
| Range by Taxing Districts |
$1.11-$2.68 |
| Source: Indiana Department of Revenue; Indiana Tax Commission; and Katz, Sapper & Miller Business property taxes are capped at 3% of the assessed value. |
| Unemployment Insurance |
|
| New Employer Rate |
2.70% |
| Taxable Wage Base |
$7,000 |
| Percentage rates may be lowered after 36 months of compliance, or raised due to non-compliance. $7,000 is the maximum taxable amount per employee. |
| Workers' Compensation |
(per $100 of payroll) |
| Average Rate for Manufacturing |
$2.22 |
| Average Rate for Office |
$0.26 |
| All Classes Average |
$1.42 |
| Source: Worker's Compensation Board of Indiana, Indiana Compensation Ratings Bureau, Department of Workforce Development-Unemployment Insurance Division/US Dept. of Labor |
Electricity (Industrial Avg.) = $.0606/kWh
Employment & Wages
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