The City of South Bend has made considerable progress in making the Ignition Park site suitable for interested businesses, having invested more than $20.4 million to acquire land, demolish buildings, conduct environmental remediation and make infrastructural improvements.

Businesses interested in establishing operations on the Ignition Park site can take advantage of various financial incentives offered by the City of South Bend, and by the State of Indiana.

South Bend Incentives:

• Industrial Revolving Loans: Provides gap financing at below market and fixed interest rates to assist
  start-up businesses, retain and expand existing businesses, and create/retain manufacturing jobs.
  Contact: Robert Mathia,  574-235-5835
• Tax Abatement Program: This is a financing tool for promoting economic development to new and
  expanding businesses and industries which improve property or acquire new manufacturing equipment.
  Contact: Robert Mathia,  574-235-5835
• Industrial Revenue Bonds – Also known as Private Activity Bonds, these tax-exempt bonds, issued by government entities, help lower financing costs for businesses by providing tax-exempt interest to investors.
  Contact: Robert Mathia,  574-235-5835
• Tax Increment Financing (TIF) Districts – South Bend has two economic development areas and five redevelopment areas. Within these areas, TIF districts are established to enable the incremental increase in taxes resulting from new development to underwrite new investment in infrastructure.
  Contact: Department of Community & Economic Development, 574-235-9371

For more information about South Bend’s business-friendly policies and programs, visit the Business section of the City of South Bend’s Web site.

State of Indiana Incentives:

• Venture Capital Investment Tax Credit - Investors who provide qualified debt or equity capital to Indiana companies receive a credit against their Indiana income tax liability.
  Website: http://www.in.gov/iedc/204.htm
• 21st Century Fund - Created to stimulate the process of diversifying the State's economy by developing and commercializing advanced technologies in Indiana.
  Website: http://www.21fund.org
• Economic Development for a Growing Economy Tax Credit (EDGE) - Refundable tax credit program that rewards companies creating jobs and contributing to the growth of Indiana's economy.
  Website: http://www.in.gov/iedc/196.htm
• Headquarters Relocation Tax Credit - Tax credit to corporations that relocate their headquarters to Indiana.
  Website: http://www.in.gov/iedc/198.htm
• Hoosier Business Investment Tax Credit Program (HBITC) - Capital investment in Indiana by providing a credit against a company's Indiana tax liability.
  Website: http://www.in.gov/iedc/200.htm
• Indiana Clean Energy Credit Program - The program awards "credits" to companies or voluntary high-efficiency energy projects and renewable energy projects.
  Website: http://www.in.gov/idem/4134.htm
• Small Business Innovation Research Initiative (SBIR/STTR) - SBIR/STTR programs are highly competitive and encourage small businesses to explore their technological potential.
  Website: http://www.in.gov/iedc/309.htm
• Skills Enhancement Fund - The Skills Enhancement Fund (SEF) provides financial assistance to businesses committed to training their workforce. Trainees must be Indiana residents.
  Website: http://www.in.gov/iedc/209.htm
• Indiana Shovel Ready Program - Site information is available before development, potential risks of investing and improving new land and reduced for businesses.
  Website: http://www.in.gov/iedc/188.htm
• Technology Enhancement Certification for Hoosiers - This program provides financial assistance to existing companies that are committed to training their workers in the latest information technology skills.
  Website: http://www.in.gov/iedc/211.htm