Incentives for Employers

Tax Incentives

Tax incentives are among the most immediate and powerful economic development incentives offered by the Evansville Urban Enterprise Zone. Tax benefits for employers participating in the Enterprise Zone program include:

Capital Investment Deduction: Enterprise Zone businesses now enjoy deductions for qualifying capital investment in facilities located within the Enterprise Zone. Qualifying capital investments include:

  • purchase or construction of a building
  • purchase of new manufacturing or production equipment
  • costs associated with repair, rehabilitation or modernization of an existing building and related improvements
  • onsite infrastructure improvements
  • costs associated with retooling existing machinery

The Enterprise Zone Deduction, first available for 2006 payable 2007, allows qualifying investments to be claimed for as many as 10 years. 

Employment Expense Credit: This state program offers tax credits for incremental wages paid by zone businesses to employees who reside in the zone

Click here to view example.

Before any enterprise zone tax incentives can be utilized, we must have a Business Commitment Form on file in our office.

Tax Forms

EZ-2 Enterprise Zone Investment Deduction Application (52501) 1/24
IT-40 QEC Enterprise Zone Qualified Employee Deduction Certificate. PDF
Schedule EZ (Parts 1, 2, 3) Enterprise Zone Schedule 1, 2, 3 & Instructions. Fill-in PDF

 

Participation Forms

EZB-R

EZB-E

Instructions for completing the EZB-R

Forms require Adobe Acrobat to view.