Terre Haute Economic Development Corporation | Terre Haute, Indiana

Terre Haute Economic Development Corporation

Workforce

Cost of Doing Business

Indiana's tax structure is competitive and is intended to reward investments and business innovation. State and local government levels know the significance in providing the populace equitable services and strong transportation networks while upholding a fair and impartial tax structure.

According to the Tax Foundation's, 2010 State Business Tax Climate Index, Indiana has the 12th most business friendly tax climate. It is also noted that for the year 2010, Indiana ranks 12th overall in the Major Components of the State Business Tax Climate Index. In addition, Indiana scored 5.18 (or a ranking of 21 out of 50) for Corporate Tax Index 2006-2010.

Below are comparisons for doing business in the Midwestern States and Eastern States.

The total State Business Taxes-- Sum of Corporate State Income Tax, Workers' Compensation and Unemployment Insurance (2010):

Indiana	$151,136
Illinois	$250,746
Kentucky	$232,405
Michigan	$168,927
Ohio	$162,303
Iowa	$212,453
Minnesota	$266,135
Wisconsin	$200,932
Missouri	$195,070
Connecticut	$265,152
Massachusetts	$209,297
New Jersey	$317,965
New York	$259,584
North Carolina	$186,928
Pennsylvania	$248,441
South Carolina	$173,130
Virginia	$147,715

Source: State of Indiana Midwestern States-Cost of Doing Business Comparison, August 2010; other major Sources are: U.S. Census Bureau of Labor Statistics; U.S. Department of Labor; Bureau of Economic Analysis

Average Workers' Compensation Rate (2008):

Indiana	$1.23
Illinois	$2.79
Kentucky	$2.96
Michigan	$2.15
Ohio	$3.32
Iowa	$1.86
Minnesota	$2.33
Wisconsin	$2.12
Missouri	$2.20
Connecticut	$2.46
Massachusetts	$1.39
New Jersey	$2.66
New York	$2.55
North Carolina	$2.43
Pennsylvania	$2.68
South Carolina	$2.74
Virginia	$1.43

The average Unemployment Insurance Based on 100 Employees (2010):

Indiana	$18,900
Illinois	$41,820
Kentucky	$21,600
Michigan	$24,300
Ohio	$24,300
Iowa	$23,700
Minnesota	$61,360
Wisconsin	$39,000
Missouri	$43,875
Connecticut	$46,500
Massachusetts	$35,420
New Jersey	$80,920
New York	$34,850
North Carolina	$21,360
Pennsylvania	$29,600
South Carolina	$23,800
Virginia	$20,160

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