The Redevelopment Tax Credit provides an incentive for investment in the redevelopment of vacant land and buildings as well as brownfields. This credit, established by Indiana Code § 6-3.1-34, provides companies and developers an assignable income tax credit for investing in the redevelopment of communities, improving quality of place and building capacity at the local level.
The IEDC may not award more than $50 million in credits each state fiscal year. Any credit award over $7 million must include a requirement that a portion of the credit be repaid by the company or developer.
The application for Redevelopment
Tax Credits can be found here.