As evidenced by many rankings, Indiana provides one of the lowest cost environments for businesses in the U.S. CNBC’s 2016 analysis of the Cost of Doing Business category ranked Indiana #1 in the country.

 

Labor/Wages

The median annual wage across all occupations in our area is approximately 15% lower than the U.S. median ($30,701 vs. $36,192).¹ The average compensation (wages and benefits) per manufacturing job in Blackford County is 33% less than the U.S. average ($42,855 vs. $63,729).² For detailed information on wages in the Blackford County area, please email Jacob Everett, Executive Director of Blackford County Economic Development or call 765-348-4944.

Also, Indiana has the second lowest workers compensation rate in the country at $1.05 per $100 of payroll.³

Multiple programs offer reimbursements or tax credits for new employee training.  View more information here.

Click here for more information on workforce.

 

Real Estate & Construction

Click to view our current available buildings and landOur community controls multiple tracts of land that are primed for development. This land can be offered to certain projects for free or a reduced rates.

A recent study* provides the following insights into prices of land and buildings in our area.   This study is heavily influenced by data from the Fort Wayne, Indiana metro area; rates in Blackford County are consistently lower than the metro and its suburbs.

Buildings

  • 100,000 – 250,000 sq ft industrial building
    purchase:  $12 – $16 per sq ft
    triple net lease:  $2.40 – $2.80 per sq ft
    construction:  $34 – $40 per sq ft

    • Construction costs in our area are typically substantially lower than in other parts of the country. One index, which accounts for materials and labor, places savings at 13% (regional index of 8559.65 vs. U.S. index of 9800).ª

Land

  • Purchase price of a 10+ acre improved greenfield site
    $.70 – $1.10 per sq ft
  • Purchase price of a 10 – 100 acre unimproved greenfield site
    $0.23 – $0.28 per sq ft

 

Taxes

The Tax Foundation ranks Indiana #1 in the Midwest and #8 in the U.S. for its 2017 business tax climate.

  • Indiana’s corporate income tax rate is 6.25%. It will be reduced to 4.9% by 2021.
    The State of Indiana offers incentives that may reduce the corporate income tax for eligible projects. Click here and scroll to the State of Indiana section.
  • Real estate and personal property (equipment) are assessed at 100% of market value. Tax rates are capped at 3% for business property pursuant to state law.
    Blackford County offers tax abatements that may reduce the real and personal property taxes for eligible projects. Click here and view Tax Abatement.

Click here for more information on taxes.

 

Utilities

Electric servivce is provided by Indiana Michigan Power, a unit of American Electric Power (AEP). Electric costs in Blackford County are lower than the state and national averages – industrial rates are 16% less than the state average and 15% less than the national average.ˆ

Click here for more information on utilities.

 

Click here for information on the personal cost of living.

 

¹ Bureau of Labor Statistics, Occupational Employment Statistics, Muncie, IN MSA – 2015

² Bureau of Economic Analysis, Compensation of Employees by Industry – 2014

³ Oregon Workers’ Compensation Premium Rate Ranking Summary – 2016

* The Zacher Company, Market Surveys – http://zacherco.com/content/market-insight

ª Engineering News-Record (enr.com) – Cincinnati, OH Index – June 2014

ˆ EEI Typical Bills Average Rates Report – Summer 2015