The retention and expansion of our existing businesses is the number one priority for the New Castle-Henry County Economic Development Corporation. Our staff and Board of Directors understand that by meeting the needs of existing businesses we are creating a better business climate to attract new investment.
Our staff visits with area businesses on a regular basis to obtain feedback as to the concerns and opportunities that local businesses confront.
This page offers resources for starting a business, relocating your business, obtaining business licenses and permits, and information on job resources and labor laws. It also features information about business advisory services, business training, networking organizations, local economic development, business advisory services for minorities and women, and financial and regulatory assistance.
State of Indiana resources for starting a business, relocating your business, obtaining licenses and permits, job resources and labor law.
Business Advisory Services
The U.S. Small Business Administration (SBA) offers a variety of programs and services to support small businesses. Learn about SBA-backed loans, government contracting opportunities, disaster assistance and training programs to help small businesses succeed.
The Indiana Clean Manufacturing Technology Institute (CMTI) is a state-supported institute established and operated at Purdue University within the School of Civil Engineering. CMTI acts as the state’s focal point for coordinating and deploying technical assistance, outreach, education, planning services and research to facilitate the adoption of pollution prevention/clean manufacturing strategies by Indiana manufacturing facilities.
The Technical Assistance Program provides free, confidential consulting services for Indiana companies, local governments, and nonprofit organizations. The program leverages the resources of Purdue University in advanced manufacturing, business management, information technology, and product development and engineering.
The Indiana Small Business Development Center (ISBDC)offers free and low-cost information, management counseling, and educational servicestoIndiana small business owners and potential entrepreneurs. The ISBDChelps Indiana business grow and create new jobs within the state.
The Counselors to America’s Small Business is a non-profit organization dedicated to the formation, growth, and success of small businesses nationwide. SCORE provides free confidential business counseling and low-cost seminars in all areas of business planning, start-up and operation.
SmallBizU is specially designed for entrepreneurs and small businesses to instill a formal business intelligence – the capacity to solve problems, meet challenges, and create valued products. It teaches entrepreneurs about money, marketing, and management through a no-frills, utilitarian curriculum that provides small businesses with real world tools and information.
TechPoint is Indiana’s only statewide technology trade group, representing approximately 400 corporate members, including publicly-traded companies, private businesses, colleges and research universities, and local economic development organizations. The group works to transform Indiana into a recognized technology leader by developing relevant policy, catalyzing change, and measuring the state’s progress.
BioCrossroads capitalizes on Indiana’s strong foundation in the life sciences by attracting new business opportunities, intellectual property and capital to the life sciences industry. BioCrossroads works with corporate, government, economic development and academic leaders to make Indiana a national and international life sciences center.
The Indiana Health Industry Forum works to create an environment where Indiana is a premier location for the creation and growth of health industry enterprises.
The Indiana Chamber of Commerce works on behalf ofmembers and constituents to improve Indiana’sworld-competitive business climate andmaximize employment opportunitiesforIndiana citizens. The Chamber advances thoughtful legislation and public policy, and serving as the convenient source of reliable business information for our members and constituents.
The Venture Club of Indiana is a non-profit organization dedicated to helping entrepreneurs and investors succeed through participation in a network of resources guided by a group of business experts with backgrounds in industries like banking, Web development, human resources, and academics.
Local Economic Development
Local Economic Development Organizations (LEDOs) and the IEDC work together to attract, retain and expand businesses in Indiana. The LEDOs represent communities around the state and promote the local economic issues to help businesses succeed.
The Indiana Economic Development Association (IEDA) provides continuity to statewide community development efforts. The IEDA was incorporated in 1982 as a statewide not-for-profit economic development organization. It now has 405 members representing local economic development organizations, agencies, corporations, congressional staff, the Indiana Economic Development Corporation, and utilities.
A statewide public service unit of Ball State University, the Center for Economic and Community Development works to help build self-sufficient Indiana communities by increasing the knowledge and ability of development professionals, government officials and volunteers.
Business Advisory Services for Minorities
The Indiana Minority Supplier Development Council (IMSDC) promotes and cultivates successful minority enterprises within the Indiana business community. The council serves as an advocate for the economic well-being and growth of ISMDC-certfied Minority Business Enterprises (MBEs), while also providing a direct connection for corporations that are committed to purchasing products and services from IMSDC-certified MBEs.
The State of Indianaprovides an equal opportunity for existing and operating minority and women’s business enterprises to receive and participate in the state’s procurement and contracting process. The Minority & Women’s Business Enterprises Division is a multi-purpose service agency for all Minority Business Enterprises (MBE), Women Business Enterprises (WBE) and Disadvantaged Business Enterprises (DBE) vendors and contractors.
Business Advisory Services for Women
The Office of Women’s Business Ownership promotes the growth of women-owned businesses through programs that address business training and technical assistance, and provide access to credit and capital, federal contracts, and international trade opportunities. With a women’s business ownership representative in every Small Business Administration (SBA) district office, a nationwide network of mentoring roundtables, women’s business centers in nearly every state and territory, women-owned venture capital companies, and the Online Women’s Business Center, OWBO is helping unprecedented numbers of women start and build successful businesses.
Springboard Enterprises is a national not-for-profit organization dedicated to accelerating women’s access to the equity markets. The organization produces programs that educate, showcase and support entrepreneurs as they seek equity capital and grow their companies.
The Small Business Administration (SBA) is a good resource for start-up funding. The SBA administers such programs as the CommunityExpress loan program, guarantees loans provided by a lender, and organizes educational seminars for start-up entrepreneurs.
The Indiana Finance Authority (IFA) allocates the statewide volume cap for tax-exempt private activity bonds in Indiana. The IFA can also serve as a conduit issuer of tax-exempt bonds. Federal law determines the types of projects that are eligible and the amount of tax-exempt financing available. To the extent that the project qualifies under federal regulations, companies can apply for volume cap for the project under the current merit-based, competitive Volume Cap Guidelines. Companies must compete for volume cap on a monthly basis based on job creation or retention, wages, capital investment, project location, and other factors. Based on the amount of volume cap available, the highest scoring applications will be considered for final approval by the IFA Board. Contact the IFA for more information about the volume cap or other tax-exempt conduit bond programs.
Indiana Statewide Certified Development Corporation & Indiana Community Business Credit Corporation
New and existing small- and medium-sized companies that are experiencing growth – but are unable to obtain conventional financing from a bank or other financial institution may have two funding options. The first is the Indiana Statewide Certified Development Corporation, Indiana’s largest lender of funds from the U.S. Small Business Administration (SBA) 504 loan program. SBA 504 funds can provide long-term fixed-rate financing for a business’s fixed assets including real estate, existing buildings, construction of new buildings, and purchase and installation of equipment. The second option is the Indiana Community Business Credit Corporation, a privately owned company that manages a pool of risk capital provided by Indiana banks. One of the fund’s participating banks must be a primary lender with at least a 50 percent exposure. The Credit Corporation then takes a subordinate collateral position for projects that need at least $200,000 in new financing. The project funding can be used for any legitimate business purpose, including working capital. Both programs are managed by Cambridge Capital Management Corporation in Central Indiana.
The federal Small Business Investment Company program improves the national economy and small businesses by stimulating and supplementing the flow of private equity capital and long term loan funds for the sound financing, growth, expansion and modernization of small business operations while insuring the maximum participation of private financing sources.
Indiana Statewide Certified Development Companies are Indiana’s largest lender of funds from the U.S. Small Business Administration 504 loan program. SBA 504 funds can provide long-term fixed-rate financing for a business’s fixed assets including real estate, existing buildings, construction of new buildings, and purchase and installation of equipment.
The Rural Development Business and Cooperative Programs, operated by the United States Department of Agriculture, are designed to enhance the quality of life for rural Americans by providing leadership in building competitive businesses including sustainable cooperatives that can prosper in the global marketplace. The programs invest financial resources and provide technical assistance to businesses and cooperatives located in rural communities and establish strategic alliances and partnerships that leverage public, private, and cooperative resources to create jobs and stimulate rural economic activity.
Another excellent resource is Grants.gov, a database of all federal grant-making agencies (including the SBA). Grants.gov enables organizations to find and apply for grants from more than 900 programs.
Indiana’s Small Business Ombudsman
Indiana’s Small Business Ombudsman works on behalf of Indiana’s small businesses to help them obtain the permits and approvals necessary forbusiness operations. The ombudsman serves as a liaison between small companies, communities, local economic development organizations and regulatory agencies. The ombudsman assists small Indiana businesses with a variety of topics, including agency contacts, license and permit requirements and applications, permit tracking, and regulatory compliance.
Business established asLimited Partnerships, Limited Liability Partnerships, Limited Liability Companies, Corporations or Nonprofit Corporationsmustfile organizations documents with the Corporations Division of the Secretary of State. Although not required, boilerplate forms to establish for-profit and nonprofit corporations are available from the Indiana Secretary of State’s Business Services Division.
Less formal businesses,such as a Sole Proprietorship or General Partnership, are not required tofile with state government to come into existence.However ifthe business name does not contain the owner’s (owners’) name(s), it must be recorded with the Recorder of the county in which the business is located. Registration of a business name does not protect the name from being used by another business.Business ownersmay request a form through theirlocal County Recorder or use a standard Certificate of Assumed Business Name.
Businesses that must obtain an Employer Identification Number may obtain this number by telephone or by filing Form SS-4 with the IRS. Contacts: Employer Identification Number: 606.292.5467; IRS Information Number: 1.800.829.1040; Forms: 1.800.829.3676; by mail at IRS, Cincinnati, OH, 45999; or online.
Indiana imposes various taxes on businesses. A single application is used to register with the Indiana Department of Revenue for sales tax, withholding tax, food & beverage tax, county innkeeper tax, motor vehicle rental excise tax, and prepaid sales tax on gasoline. A separate application is required for each business location. There is a $25.00 non-refundable application fee for a Retail Merchants Certificate. For more information, contact the Indiana Department of Revenue Taxpayer Services Division, Withholding: 317.233.4016; Sales Tax: 317.233.4015; Corporate Tax or General Information: 317.615.2662 or visit Room N-105 Indiana Government Center North, 300 North Senate Avenue Indianapolis, IN, 46204.
The Indiana Department of Workforce Development (DWD) manages and implements innovative employment programs for Hoosiers, unemployment insurance systems, and facilitates regional economic growth initiatives for Indiana. Through DWD Employer Services, the department provides a variety of self-service tools for employers, including information about quarterly wage reports, unemployement insurance, federal bonding, job certification, required employer posters, and worker training programs.
The Indiana Department of Labor’s INSafe program provides critical safety information, training, and consultative services to thousands of Indiana workplaces at no direct cost.
US Commercial Service
The U.S. Commercial Service helps U.S. companies find new international business partners in worldwide markets by providing world-class market research, trade events that promote U.S. products or services to qualified buyers, introductions to qualified buyers and distributors, and counseling through every step of the export process. The service also helps international companies find American suppliers of products and services.