Summer months for Certified Public Accounting firms are typically slow and calm. Not at Somerset. At Somerset, we spend our after tax season months working with our clients on non-tax return compliance projects. In just the past 60 days, we have assisted three growing Indiana businesses assess opportunities for income tax credits and training grants.
Business in the state is booming and Indiana employers are seeking new employees. The Indiana Economic Development Corporation (and most surrounding states) are willing to financially assist growing companies finance this growth. Incentives can come in the form of refundable income tax credits, non-refundable income tax credits and training grants.
Somerset’s three recent projects included employers investing $5.2 million in infrastructure and equipment, hiring 64 new employees and spending in excess of $220,000 annually to train their current and new workforce.
Total incentives awarded to these growing companies exceeded $645,000.
If your company is contemplating a footprint expansion, relocation or hiring several new Indiana resident employees in the next three years, contact Somerset’s Credit and Incentive team. We will assist you with the application and compliance process to determine if your expansion will qualify for any state or local assistance.