Indianapolis is the largest city in Indiana and serves as the state capital. It’s home to Lucas Oil Stadium, Indianapolis Motor Speedway, Monument Circle, and the Indiana State Capitol. Beyond the area’s rich history, there are a variety of businesses located in Indianapolis ranging from large publicly-held companies to small businesses. The total workforce exceeds 1M with advanced manufacturing, aerospace, defense, life sciences, logistics, transportation, and technology as the top industries. In addition, Indianapolis is ranked a Top 5 Housing Market for 2022, a Top 40 Best Place to Live in the US, and is ranked amongst the Best 50 Cities for Starting a Business.
Indianapolis Economic Profile
The city’s economy is composed of a diverse mix of small businesses to large privately-held companies. There are thousands of businesses located in the metropolitan area, with a total population of 978,000. Post-pandemic the area has a competitive unemployment rate of 2.8%. The main growth industries include technology, manufacturing, life sciences, motorsports, creative industries, and clean energy. The largest public companies include Anthem, Eli Lilly & Co, Simon Property Group, Salesforce, and Allison Transmission.
Indiana Business Incentives
There are business tax, financing, and other incentives available to businesses operating in Indianapolis and across the state. Eligibility is determined by company size, focus area, and investment activities. The main incentive programs include the Data Center Sales Tax Exemption, Headquarters Relocation Tax Credit, Research & Development Incentives, EDGE Payroll Tax Credit, Patent Income Tax Exemption, and the Industrial Development Grant Fund.
Indianapolis Business Resources
- COVID-19 Checklist for Indianapolis Employers
- Starting a Business in Indiana
- Downtown Indy Partnership
- Indiana Small Business Development Center
- Small Business Administration (SBA) – Indianapolis (IN)
- Tax Planning & Consulting
- Client Accounting Services
- International Tax
- System & Organization Control (SOC) Reports
Interesting Facts About Indianapolis
- The famous “Take Me Out to the Ball Game” song was written by Indianapolis native Albert Von Tilzer.
- Elvis Presley’s last concert was at the now-defunct Market Square Arena in 1977.
- Indianapolis is home to the very first Union Station which was built in 1849.
- The infamous John Dillinger was born in Indianapolis.
- Indianapolis is the only major city in the U.S. that is not located on a river.
There are many advantages to doing business in Indianapolis. If you have questions about a specific issue or simply need assistance getting established Barnes Dennig can help. For additional information call us at 317-572-1130 or click here to contact us. We’re here to help.