Indiana Business Relocation Incentives for Healthcare Manufacturer

Healthcare Manufacturing Headquarters

Client Profile

A manufacturer specializing in injury prevention and patient positioning products sought assistance for its headquarters relocation and subsequent expansion in Indianapolis. The new facility was designed to serve as their headquarters, manufacturing center, research and development (R&D) facility, and training hub. The project consisted of two phases: Phase I projected 55 new jobs with a $6.7 million investment, while Phase II anticipated 60 new jobs and a $14.7 million investment.

Process

McGuire Sponsel’s Location Advisory Services team explored both local and state incentives for the project. We worked closely with the Indiana Economic Development Corporation and the Indianapolis Department of Metropolitan Development to maximize available benefits.

During negotiations with Indianapolis DMD, an additional opportunity emerged involving collaboration with a local philanthropy organization. Our team successfully navigated these discussions, facilitating a tri-party agreement that satisfied all stakeholders’ objectives.

Results

Our comprehensive approach yielded significant incentives across both phases. For Phase I, we secured an Economic Development for a Growing Economy (EDGE) credit of $210,000 and a Hoosier Business Investment (HBI) credit of $120,000. The subsequent Phase II achieved even greater results, with an EDGE credit of $175,000, an HBI credit of $500,000, and a Local Tax Abatement of $739,622.