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East Gate Business & Technology Center

Area Resources

  1. The city of Bedford and Lawrence County provide a great place to live and work. There are 3 universities within a 30 minute drive of the city.  North Lawrence Community Schools provide an excellent education for grades K-12. With its close proximity to Indiana University and French Lick Resort, Bedford provides a low cost of living without sacrificing on entertainment and cultural experiences.
     
  2. HUB Zone

    1. The HUB Zone Empowerment Contracting Program stimulates economic development and creates jobs in urban and rural communities by providing Federal contracting preferences to small businesses. These preferences go to small businesses that obtain HUBZone (Historically Underutilized Business Zone) certification in part by employing staff who live in a HUBZone. The company must also maintain a "principal office" in one of these specially designated areas. The program resulted from provisions contained in the Small Business Reauthorization Act of 1997.
       
  3. Military Enhancement Area

    1. Reduced Corporate Adjusted Income Tax Rate from 8.5% to 5.0% for five years.
    2. A nonrefundable income tax credit of up to 30% of qualified investment based on job creation and capital investment.
    3. Sales tax exemption for electricity purchases.
       
  4. Enterprise Zone

    1. Typically, EZ incentives consist of tax instruments, such as property tax abatements, income tax deductions and credits for employment creation, capital investment, and income creation in the EZs
    2. Currently, all businesses are eligible to take the Inventory Tax Exemption. Other tax credits include:
      1. Employee Wage Deduction: Residents of the zone can take a tax deduction from their taxable salary and wages and lower their individual state tax if they are employed by a qualified zone business.
      2. Employer Expense Credit: If a zone business hires a zone resident, that business can take a credit on their state tax liability.
      3. Gross Income Tax Exemption: Qualified zone businesses may exempt increases in gross income from state tax.
      4.  Investment Cost Credit: Individuals making new investments in enterprise zone companies may receive up to a 30% tax credit against their personal state tax liability.
      5. Loan Interest Credit: Any Indiana taxpayer, whether individual or business, may receive a state tax credit of 5% of the interest income earned on loans made to enterprise zone businesses or on loans for improvements to real property, including residential property.
    3. http://www.in.gov/legislative/pdf/INDIANA_ENTERPRISE_ZONE_FISCAL_IMPACT_PROJECT.PDF
       
  5. Bedford Chamber of Commerce
  6. City of Bedford
  7. Lawrence County Economic Growth Council
  8. North Lawrence Community Schools
  9. Oakland City University
  10. Indiana University
  11. Ivy Tech
  12. French Lick Resort
  13. West Baden Springs
  14. Spring Mill State Park
  15. Lake Monroe

 




 
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