By the Numbers: Why Indy Is a Great Place to Launch a Business

Hint: Cheap rent, low taxes, and incentives galore.

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The March cover package explains in detail how to start a business. Here’s why the Circle City is the place to do it.

Rent

Average monthly cost for 1,000 square feet of office space:

New York — $5,096.66
Chicago — $2,331.66
Philadelphia — $2,065
Cincinnati — $1,557.50
Indianapolis — $1,492.50

Business Taxes

10th  Rank of Indiana’s favorable business-tax climate, according to the Tax Foundation in Washington, D.C. Surrounding state ranks:

Illinois — 31
Wisconsin — 43
Ohio — 39
Kentucky — 27

Property Taxes

Fifth-lowest  Surpassed only by the rates of New Mexico, North Dakota, Idaho, and Utah.

Incentives

$921 million  The amount Indiana doles out every year in business incentives, an amount equivalent to six cents per dollar of the budget. And it’s not just going to the ExactTargets of the state—several pages of the annual incentives report are small businesses, like breweries.


See more business and money stories here.

This article appeared in the March 2014 issue.

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