McGuire Sponsel was referred to assist a CPA in Indianapolis, IN, with compliance. The client has procured incentives and requested additional assistance in annual reporting.
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Client Snapshot
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Building TypeIndustrial/Manufacturing Facility
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LocationIndianapolis, IN
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Project TypeEconomic Revitalization Area Extension
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Project ObjectiveCompliance
Approach & Results
Client Profile
The client, a radiopharmaceutical manufacturing company experienced rapid growth, with plans to add 70 new employees. To support its expansion, the company invested $6 million in real estate and $24 million in personal property. McGuire Sponsel was brought in to assist with compliance and restructuring of incentive agreements after the company fell behind on original investment timelines.
Process
McGuire Sponsel’s Location Advisory team was referred by the Indianapolis Department of Metropolitan Development to assist with compliance and renegotiation of the client’s original incentive agreements. The client had secured abatements but needed help navigating annual reporting and addressing investments made outside the designated Economic Revitalization Area (ERA) window.
The team participated in two key meetings with the City of Indianapolis, presenting an overview of the company’s growth and outlining reasons for the investment delays. McGuire Sponsel worked closely with city officials to realign expectations and demonstrate the client’s ongoing commitment to the Indianapolis project.
Study Results
By securing a three-year extension to the ERA window, McGuire Sponsel enabled the client to include $21,587,890 in previously ineligible investments toward their tax abatement. This adjustment significantly improved the project’s compliance position and allowed the company to fully leverage its intended incentive package.
As a result of the amendment, the client recovered an estimated $616,964 in property tax savings based on 2025 tax rates. While actual realized savings may vary depending on future rate changes, the outcome represents a substantial financial benefit and a successful realignment of the client’s expansion goals with the City of Indianapolis.
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$616,000+
Recovered Property Tax Savings
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$21,500,000+
Investments Included in Abatement
Additional Resources
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