No kidding. Really Low Cost of Doing Business
Indiana is among the top five states in the country for a low cost of doing business. And Marshall County has one of the lowest costs of doing business in the entire state. The tax burden, while low across Indiana, is even lower in Marshall County.
Marshall County’s excellent transportation systems, including three U.S. highways and seven Indiana highways, ensure that businesses can quickly connect to their customers and suppliers for raw materials. These highways provide access to all major Midwest markets and to a population of nearly 40 million people within a half day drive.
Other factors that make Marshall County even more cost competitive than other areas in the state include lower average hourly wages coupled with a lower cost of living for its residents. And again, our streamlined onboarding process ensures that businesses looking to grow operations, relocate, or startup in Marshall County are given immediate attention – dramatically reducing the time it takes to go from initial contact to actual operations.
But perhaps the best indicator of the cost savings and robust nature of doing business here in Marshall County is an oddly provocative fact: Only one major business in Marshall County closed operations during the great American recession of 2008-2009.
Level Tax Rates
Real and personal property tax is assessed at 100 percent of market value in Marshall County. Homeowner property taxes are capped at 1 percent of assessed value, and business property taxes are capped at 3 percent of assessed value.
Indiana is Fiscally Attractive
At a time when other states are raising taxes to keep up with mounting state debt, Indiana’s long history of smart fiscal choices, balanced state budgets and cash reserves in a rainy day fund puts the Hoosier State in a position to actually lower taxes. Indiana’s corporate income tax rate is steadily decreasing each year, from the current 5.75% to 4.9% by 2021.
We’ve spent years adopting sound fiscal policies in Indiana, and today we’re one of only a handful of U.S. states with a AAA credit rating and an actual budget surplus. We’re lowering business taxes this year, and every year through 2021. We’re one of the top states for regulatory freedom, and we’re defining a new standard of opportunity for businesses to reach their full potential.
The bottom line is we’re building economic strength and momentum, and it’s propelling us on a trajectory toward growth and prosperity. Where do we go from here? You tell us, and we’ll get started laying the groundwork to help your business grow in Indiana.
Indiana is consistently ranked as one of the best states for business by Area Development magazine, CNBC, Chief Executive, Forbes, Tax Foundation, and US News & World Report.
The 2018 Chief Executive's "Best Place for Business" rankings show Indiana at 5th place nationally (for the second year in a row). Indiana ranks 1st in the Midwest making it the only state in the Midwest in this publication's top five states.
The 2018 Tax Foundation's "State Business Tax Climate" ranking rates Indiana as the 9th best state in the nation and the 2nd in the Midwest behind only South Dakota.
The 2018 US News & World Report's "Best States Rankings" list Indiana as 1st in government credit rating score, 2nd in affordability, 2nd in long-term fiscal stability, 3rd in housing affordability, 7th in job growth, 7th in cost of living, and 8th in fiscal stability.
The 2017 Area Development magazine rankings list Indiana as the 7th "Top State for Doing Business" in the U.S. per a site selector survey. In addition, Indiana was the state ranked 3rd in shovel-ready sites programs, 5th in most improved economic development policies, 5th in competitive labor environment, 6th in business incentive programs, 6th in overall cost of doing business, 6th in speed of permitting, 6th in favorable regulatory environment, 7th in cooperative & responsive government, 8th in leading workforce development programs, and 8th in corporate tax environment.
The 2017 CNBC's "Top States for Business" rankings list Indiana as the 2nd best state in the nation for cost of doing business, 2nd in cost of living, 3rd in infrastructure, 8th in business friendliness, and 10th in economy.
The 2017 Forbes "Best States for Business" rankings list Indiana as 1st in regulatory environment, 4th in quality of life, and 10th place overall.