Location IS the Difference

Hancock County, Indiana

Industry

Home

Corporate Adjusted Gross Income Tax

Net Effective Rate: 8.50%

Corporate Franchise Tax

None

Personal Income Tax

Rate: 3.40%

Local Option Tax

• Resident: 1.15%

• Non-Resident: 0.4%

Sale and Use Tax

6.00%

Exemptions include: Manufacturing raw materials, manufacturing equipment, utilities and other consumables used in production and environmental control equipment used by manufacturers.  Transactions involving the purchase, lease or operation of engines or chassis by professional racing teams may be exempt.  Most services are not subject to tax.

Property Tax (per $100 of fair market value in use)

Real Property (2003 payable 2004)

• Median Tax Rate: $1.66

• Range by Taxing Districts: $1.15 - $2.05

Personal Property (2003 payable 2004)

• Median Tax Rate: $1.81

• Range by Taxing Districts: $1.31 - $2.57

(Inventory destined for out-of-state shipment and work-in-progress may be exempt.  In tax year 2006 payable 2007, the inventory tax is completely eliminated.)

Unemployment Insurance

• New Employer Rate: 2.70%

• Experienced Employer Average Rate: 1.30%

• Taxable Wage Base: $7,000

Workers' Compensation (per $100 of payroll)

• Average Rate for Manufacturing: $2.46

• Average Rate for Distribution: $3.71

• Average Rate for Office: $0.27

Industry

Employment by Industry 3rd Q 2004

• Manufacturing: 16.2%
• Retail Trade: 11.6%
• Healthcare & Social Asst.: 10.4%
• Construction: 9.3%
• Accommodation & Food Service: 9.0%
• Education: 7.6%
• Professional Services: 6.9%
• Local Government: 5.5%
• Wholesale Trade: 4.5%
• Administrative Service: 4.2%

Average Weekly Wage by Industry 3rd Q 2004

• Manufacturing: $850
• Wholesale Trade: $688
• Retail Trade: $450
• Transportation & Warehousing: $643
• Information: $559
• Finance & Insurance: $634
• Real Estate & Rental & Leasing: $417
• Professional & Technical Services: $1,264
• Management of Companies: $545
• Administrative & Waste Services: $485
• Educational Services: $578
• Health Care & Social Assistance: $640
• Arts, Entertainment & Recreation: $200
• Accommodation and Food Service: $198
• Other Services: $370
• Public Administration: $565

Corporate Community 2006

• Keihin Indiana Precision Technology: 1,200
• Eli Lilly and Company: 925
• Indiana Automotive Fasteners: 250
• Avery Dennison Corporation: 204
• GasAmerica Services Inc.: 200
• Caterpillar Logistic - American Tool: 140
• Elanco Animal House Inc.: 130
• Roll Coater Inc.: 125
• Greenfield Banking Company: 120
• Novelty Distributors: 120

Hancock Economic Development Council

One Courthouse Plaza

Greenfield, IN 46140

Dennis Maloy, Executive Director

Kandis Brouillette, Administrative Assistant

Phone: (317) 477-7241

Fax: (317) 477-2353

Email: dmaloy@cedhc.org

Website: www.cedhc.org