There are many things to love and hate about starting a business in Indiana, particularly the capital city of Indianapolis. The state has a GDP of $336 Billion and is listed by Forbes as one of the top 10 states to do a business in.
If you want to set up a new business, there are several reasons to choose Indiana as your location. One of the primary motivators is the strong economic climate in the state. It gives you confidence about the stability of the economy that it can sustain your business.
The growth prospects for the national and international markets are also worth noting. If you want to eventually expand your business, there are plenty of opportunities available.
There are numerous business incentives that you can leverage if you want to start a business in the state. You can get state and federal incentives, grants, tax credits, and loans for small to medium sized businesses. A few examples include the Hoosier Business Investment Tax Credit, Indiana Enterprise Zones, and Research & Development Sales Tax Exemption.
Finally, the cost of business setup is lower in Indiana when compared to other states in the region. All of these factors combine to making Indiana a great destination for businesses. For business insurance related info please refer to our more in depth article.
At the request of our visitors we've included the below local insurance contacts for most cities in Indiana. Like most states, Indiana requires that car owners have both bodily injury and property damage auto insurance. The local rates available throughout the state depend on variables such as your gender, credit score, claims history, and the level of coverage you wish to have. You can compare affordable quotes among several insurance companies in the state using the contacts that we have provided. To get a cheap policy, it's essential that you consider multiple insurance carriers and take advantage of any discounts they offer, such as a discount for student drivers or veterans. When you shop smart, you can get can find low cost coverage and thank yourself later. For additional information on traffic laws or driving schools please navigate to your respective state using the map. And for manufactured home insurance, please refer to the respective article.
Indiana is one of the states belonging to the Midwest region. With the capital city of Indianapolis, it became the 19th state in the US in 1816.
After the war, the transportation and manufacturing industry developed and it resulted in a growth in the state economy (particularly in Northern Indiana). Its close proximity to other states such as Michigan, Ohio, Kentucky, and Illinois made it a trade hub within the region.
By the onset of the 20th century, the automobile manufacturing flourished. Most of the auto manufacturing companies dwindled during the Great Depression; however, it became known as the host of the automobile race that is now known as Indianapolis 500.
The natural resources of Indiana are a major contributor to the growth and expansion of its economy. It also has a thriving business environment and offers many opportunities for employment. Its job market has steadily increased over the past few years and is predicted to be up by 38% in the next few years.
© State & Local 1995-2023