SOUTHWEST INDIANA BUSINESS CLIMATE
Indiana has the sixth best business climate in the U.S. (Source: Site Selection, February 2007). The business climate is favorable for locating, relocating, or expanding your business or manufacturing facility in Southwest Indiana.
Consider the convincing data related to these factors:
- Low costs of doing business
- Indiana state business taxes
- Workers’ compensation
- Unemployment compensation
- Southwest Indiana county real estate taxes: Gibson County, Posey County, Vanderburgh County, and Warrick County
And there are many other factors that make the Southwest Indiana business climate ideal.
Low Costs of Doing Business
Indiana has the...
- Fifth lowest unemployment tax rate
- Eleventh lowest electric utility costs
- Fourth lowest workers’ compensation rates
- Seventh lowest costs in per capita state and local government expenditures (Source: Small Business Entrepreneurship Council, October 2006)
Source: Indiana Economic Development Coalition brochure: “Business Incentives”
Indiana State Business Taxes, Workers’ Compensation, Unemployment Compensation
| Total State Business Taxes: Sum of Corporate State Income Tax, Worker's Compensation and Unemployment Insurance | ||||
|---|---|---|---|---|
| State | Value | |||
| Indiana | $169,739 | |||
| Illinois | $267,448 | |||
| Kentucky | $235,725 | |||
| Michigan | $256,858 | |||
| Ohio | N/A* | |||
| Pennsylvania | $292,822 | |||
| Tennessee | $275,912 | |||
| Texas | ||||
| Corporate State Income Tax: Due Per Net Taxable Income of $1,000,000 | ||||
|---|---|---|---|---|
| State | Value | |||
| Indiana | $85,000 | |||
| Illinois | $73,000 | |||
| Michigan | $71,213 | |||
| Ohio | $85,000 | |||
| Pennsylvania | $99,900 | |||
| Tennessee | $65,000 | |||
| Texas | $45,000 | |||
| Average Workers’ Compensation Annual Premium Based on 100 Employees | ||||
|---|---|---|---|---|
| State | Value | |||
| Indiana | $65,839 | |||
| Illinois | $167,048 | |||
| Kentucky | $144,125 | |||
| Michigan | $161,345 | |||
| Ohio | N/A | |||
| Pennsylvania | $164,922 | |||
| Tennessee | $166,274 | |||
| Texas | $206,612 | |||
| Average Workers’ Compensation Rate | ||||
|---|---|---|---|---|
| State | Value | |||
| Indiana | $1.97 | |||
| Illinois | $3.82 | |||
| Kentucky | $4.52 | |||
| Michigan | $4.13 | |||
| Ohio | N/A | |||
| Pennsylvania | $4.43 | |||
| Tennessee | $4.27 | |||
| Texas | $5.53 | |||
| Average Unemployment Insurance Based on 100 Employees New Employer Rate | ||||
|---|---|---|---|---|
| State | Value | |||
| Indiana | $18,900 | |||
| Illinois | $37,400 | |||
| Kentucky | $21,600 | |||
| Michigan | $24,300 | |||
| Ohio | $24,300 | |||
| Pennsylvania | $28,000 | |||
| Tennessee | $19,600 | |||
| Texas | $24,300 | |||
| Other State Data: Average Annual Wage | ||||
|---|---|---|---|---|
| State | Value | |||
| Indiana | $34,080 | |||
| Illinois | $39,290 | |||
| Kentucky | $32,550 | |||
| Michigan | $40,040 | |||
| Ohio | $36,270 | |||
| Pennsylvania | $36,320 | |||
| Tennessee | $35,470 | |||
| Texas | $35,470 | |||
| Other State Data: Average Annual Unemployment | ||||
|---|---|---|---|---|
| State | Value | |||
| Indiana | 5.4% | |||
| Illinois | 5.7% | |||
| Kentucky | 6.1% | |||
| Michigan | 6.7% | |||
| Ohio | 5.9% | |||
| Pennsylvania | 5.0% | |||
| Tennessee | 5.6% | |||
| Texas | 5.3% | |||
| Corporate State Income Tax | ||||
|---|---|---|---|---|
| State | Value | |||
| Kentucky | $70,000 | |||
*No private workers’ compensation insurance; handled through the state
Major Sources: U.S. Bureau of Labor Statistics / U.S. Department of Labor / Actuarial & Technical Solutions Inc. / Bureau of Economic Analysis
The information above is provided by the Indiana Economic Development Corporation and is for general illustrative purposes only. This information neither constitutes legal advice nor carries with it any guarantee or commitment from the state of Indiana. The reader should consult legal counsel to determine how tax laws apply to specific situations.
Source: Indiana Economic Development Coalition brochure: “Business Incentives”
List of Indiana Business Taxes
Quick Facts about Indiana Business Taxes
Workers’ Compensation
Indiana has the second-lowest workers’ compensation rates in manufacturing in the nation.
Source: www.in.gov
Southwest Indiana County Real Estate Taxes
Indiana ranks a favorable 23 among U.S. states for low real estate taxes, as measured by percentage of home value. Property tax in Southwest Indiana is 0.94% of home value.
Unemployment Compensation
Download or print a spreadsheet with information about unemployment compensation in Southwest Indiana.
