Economic Development and Planning/Engineering Department

Economic Development Programs

Local Incentives

• Tax Increment Financing (TIF) TIF Districts allow localities to reallocate and redistribute property taxes for the purposes of economic development initiatives. After defining the TIF district, the current assessed values and taxes are set as a baseline.  Any increase in property values within the district (through new construction, expansion, or renovation) will result in an “incremental” increase in taxes above the baseline.  All or part of this increase is used to pay for infrastructure improvements (sewer, water, roads, etc.) within the district.
• Tax Abatement for real property 10- Year Tax Abatement - Local communities may offer real and personal property tax abatement as an incentive to new and expanding businesses. Property tax abatement allows a property owner to phase in payment of property taxes over a designated period. This period may be any number of years between one and ten. The designating body determines the period.
• Two Million Investment Deduction- $2 million of assessed value for new building construction and installation of new personal property that “creates or retains employment.”  This legislation became effective July 1, 2005, for real and personal property that will be first assessed for the March 1, 2006 through March 1, 2009 assessment dates.  The investment deduction will have a term of three years.  The deduction will be 75% of the assessed value of new property in the first year, 50% in the second year, and 25% in the third year.  The investment deduction is similar in many respects to traditional tax abatement.  The most significant difference, however, is that the new investment deduction requires no advance government approval process.
• No Inventory Tax - Starting in 2006, this tax will be eliminated and exemptions made for "production in progress." This follows a major change in the inventory tax that was made in 2003 when that portion of raw materials and work-in-progress sold out of state was exempted from the tax. For example, if 90 percent of production is shipped out of state, 90 percent of raw materials, work-in-progress and finished goods is exempted
• Lease Financing Available - the Ports of Indiana has the authority to enter into lease financing agreements with corporations with investment-grade credit anywhere in Indiana, not just at the ports. It is also authorized to create inter-modal hubs throughout the state where rail, interstate highways and water converge.
• Reduced Worker's Compensation Rate - These rates are generally lower than those of Illinois. For example, according to the Northwest Indiana Forum, the rate for warehouse operations is 70 percent lower than it is in Illinois.
• Savings on Unemployment Insurance - According to the Northwest Indiana Forum, the cost of unemployment insurance is 50% lower than it is in Illinois.
• Low Cost of Living- Indiana has the 14th lowest cost of living in the country. Illinois ranks the 29th lowest

State Grants and Incentives

• The Certified Technology Parks program was created as a tool to support the attraction and growth of high-technology business in Indiana. Designation as a Certified Tech Park allows for the local recapture of certain state and local tax revenue which can be invested in the development of the park.
• Industrial Development Grant Fund provides financial support for infrastructure improvements in conjunction with projects creating jobs and generating capital investment in Indiana. This grant provides money to local governments for off-site infrastructure projects associated with an expansion of an existing Indiana company or the location of a new facility in Indiana.  State funding through the IDGF program must be matched by a combination of local government and company financial support.
• The Industrial Recovery Tax Credit provides an incentive for companies to invest in facilities requiring significant rehabilitation or remodeling expense.  After a building has been designated as an industrial recovery site, companies may be eligible for a tax credit calculated as a percentage of qualified rehabilitation expense.
• Skills Enhancement Fund is a tool to encourage companies to invest in their existing workforce and train new employees.  SEF provides reimbursement for eligible training expenses over a two year term.  Companies may reapply for additional SEF Funds after their initial two year term.

State Tax Credits Incentives

• The Economic Development for a Growing Economy (EDGE) program was created to reward companies creating new jobs and contributing to the growth of Hoosier income.  EDGE credits are calculated as a percentage of payroll tax withholding for net new Indiana jobs.  EDGE credits may be awarded for a term of up to ten years.
• The Certified Technology Parks program was created as a tool to support the attraction and growth of high-technology business in Indiana. Designation as a Certified Tech Park allows for the local recapture of certain state and local tax revenue which can be invested in the development of the park.
• The Hoosier Business Investment Tax Credit (HBITC) program was established to encourage capital investment in Indiana by providing a credit against a company’s Indiana tax liability.  The credit amount is based on a company’s qualified capital investment with the final credit amount determined by the IEDC based on an analysis of the economic benefits of the proposed investment.
• Venture Capital Investment Tax Credit program was established to improve access to capital to fast growing Indiana companies by providing individual and corporate investors an additional incentive to invest in early stage firms.  Investors who provide qualified debt or equity capital to Indiana companies receive a credit against their Indiana tax liability.
• Clean Energy Tax Credit Program support Indiana’s advanced agricultural independence and provide an incentive for the development of renewable energy.  Bio-diesel, blended bio-diesel, ethanol producers, blended bio-diesel distributors, may be eligible for a tax credit calculated as a percentage of their fuel production or distribution.

Quick Demographics
Population 2000

Land area 2000

Education 2000

Age 2000

Household size 2000

Household income 2000

Housing Stock and Value

Commuters

Unemployment

Accolades

• 2005 Kodak American Greenways Grant Recipients for greenway and stream development
• Reinventing Community-A neo-traditional community setting standards in land use sustainability, ecology & quality of life. Located 50 miles southeast of Chicago near the southern shores of Lake Michigan, Coffee Creek Center includes commercial office and retail space.  As one of the world's 26 most innovative planned communities, Coffee Creek Center is being designed as a model for future development.
• The Town of Chesterton wins a seventh consecutive Tree City USA title and a fourth consecutive Growth Award 2004.
• Northwest Indiana Business Quarterly ranks Chesterton’s Sand Creek Country Club the Best PGA Golf Course in Northwest Indiana 2005.

Transportation

Airport

Porter County Municipal Airport is home for more than 144 general aviation aircraft. These aircraft range in size from small one passenger propeller driven aircraft, to large corporate jets. Our community is growing rapidly and the Porter County Municipal Airport Authority has ensured that the Airport's growth is keeping pace meeting the needs of our residents, visitors and businesses. There are expansion projects underway to meet the growing community needs and stimulate future business in the area. Features:

• Located 10 minutes from Chesterton
• Meeting / Conference room
• Pilot lounge with TV and telephone DUAT, computer access, weather, and Internet access for pilots
• Crew cars
• Overnight hard surface parking or hangar
• Clearance delivery 135.20 MHz. on the field
• ASOS (219-531-1770)
• Experimental Aircraft Association Chapter 104
• Civil Air Patrol
• Indiana Aviation Museum
• Porter County Pilot's Association

Gary Chicago International Airport is dedicated to providing quality service, low cost and convenient access. The Gary/Chicago International Airport has set its sights on continued growth and expansion. Recognized as Chicago's Third Airport, The Gary/Chicago International Airport represents the highest degree of safety and operational efficiency with lots of capacity and room to grow. Strategically located within 25 miles from Chesterton and 35 minutes from downtown Chicago, Gary/Chicago International Airport offers convenient access to Chicago. Highway connections include I-90, I-80/94, I-65, the Chicago Skyway, the Dan Ryan Expressway, and Lake Shore Drive.Features:

• Location: 25 miles/35 minutes to downtown Chicago
• Location: Quick multi-modal connections and easy access surface transportation via a multiple highway network, rail and Port of Indiana-Burns Harbor
• Location: Central location provides the fastest access to the South, both coasts, and the Midwest
• Regional market in excess of 9 million consumers
• Low cost access to the entire Chicago marketplace
• Avoids City of Chicago-proper air and ground congestion
• Excellent airside and roadway access
• Foreign Trade Zone and U.S. Custom's Service: Foreign Trade Zone is expandable to suit tenant

Chicago Midway Airport is a one hour drive from Chesterton, and is located ten miles from downtown Chicago. One of the fastest growing airports in the continent, Chicago Midway Airport serves over 17 million travelers each year. Chicago Midway Airport currently has three concourses, serving major airlines such as American, Continental, and Southwest. Recent improvements have included an expansion of baggage claim areas and ticket counters, and a new terminal-concourse bridge.

Quick Facts

• Chesterton is known as "The Gateway to the Dunes" and is served by two major highway segments (Interstate 94 and Interstate 80/90), two major U.S. Highways (Highway 12 and Highway 20), and State Road 49.
• Chesterton’s road network is centrally located along the southern shoreline of Lake Michigan to service Illinois, Michigan, Ohio, and Southern Indiana.
• 11 million people live within 100 mile radius - making Chesterton the most logical choice for transportation and shipping related businesses.

Distance to Major Metro Areas

Chicago, IL 49 miles
Fort Wayne, IN 160 miles
Indianapolis, IN 163 miles
Madison, WI 195 miles
Detroit, MI 241 miles
Green Bay, WI 255 miles
Cleveland, OH 300 miles

The Port of Indiana - Burns Harbor is located 10 minutes from Chesterton on the south shore of Lake Michigan just 30 land miles and 18 nautical miles from Chicago.
The port offers:

• Year-round barge access to Midwestern markets and the Gulf of Mexico through the Inland Waterway System
• Direct access to the Atlantic Ocean via the St. Lawrence Seaway
• 560-acres with more than 30 tenants
• Capacity for Great Lakes bulk carriers up to 1,000 feet in length and saltwater vessels capable of transiting the locks on the Great Lakes/St. Lawrence Seaway system
• Service by the nation's nine class one carriers
• Foreign Trade Zone classification
• 12 modern shipping berths
• Special design allowing any vessel that navigates the 27-foot draft of the St. Lawrence Seaway to dock and turn around at the port
• Tenant services including tug, barge fleeting, railroad switching, waste disposal/sanitation, security and fire protection
• Heavy industry, light manufacturing and warehousing businesses
• Service for major cargoes including iron, steel, grain, chemicals, fertilizers, coal and heavy lift project cargo (up to 230 tons)

Access

Waterways - provides ship and barge connections to the world through the Great Lakes and St. Lawrence Seaway, including year-round access to the Inland Waterway System, connecting the Midwest to the Gulf of Mexico. The port currently has the capability to simultaneously berth ten ships and has a 27-foot draft.

Rail - The Indiana Harbor Belt Railroad, Norfolk Southern, CSX, and South Shore Railroad all service the port. The Indiana Harbor Belt Railroad is the largest switch carrier in the U.S. with 54 miles of main track and 266 miles of additional yard and siding track. The South Shore Line rail passenger service is the last electric interurban line in the nation and transports 3.4 million passengers annually from Chicago to as far as South Bend, Ind.

Highway - Direct access is provided via IN-249. Along with this direct port access, four major interstates transect Northwest Indiana including I-65, I-80, I-90, I-94, offering routes to both coasts, the Gulf of Mexico and Canada. In addition, Chicago I-55 and I-57 connect Northwest Indiana with other Midwest and southern destinations.

Air - Chicago's O'Hare International Airport and Midway Airport are all easily accessible from Burns Harbor/Portage. The Gary/Chicago International Airport, 14 miles away, has the second-longest runway in the Chicago metro area and serves more than 65,000 flights per year.

Passenger Rail
Quick Facts

In addition to being centrally located for highways, Chesterton is also a focal point for freight rail and passenger rail. The Town is currently served by three Class I railroads, CSX, N.Y. Central, and Michigan Central, and the South Shore Railroad. The South Shore Line rail passenger service is the last electric interurban line in the nation and transports 3.4 million passengers annually from Chicago to as far as South Bend, Indiana.

Economic Resources Links

Northwestern Indiana Regional Planning Commission
www.nirpc.org
The Northwest Indiana Forum sells Northwest Indiana to business and industry worldwide to attract capital investment. In its role as the economic development front door to Northwest Indiana, the Northwest Indiana Forum seeks to promote the region’s competitive position domestically as well as in the global marketplace.

Northwest Indiana Forum
www.nwiforum.org
NIRPC is a regional council of local governments serving the three counties of northwest Indiana. The northwest Indiana region is an integral part of the greater Chicago metropolitan area. NIRPC provides a forum that enables the citizens of northwest Indiana to address regional issues relating to transportation, the environment and community and economic development.

The Center of Workforce Innovations
www.innovativeworkforce.com
The Center of Workforce Innovations Workforce Investment Board (WIB) brings private sector leaders together with policy makers from government, education, economic development, labor, and community-based organizations to analyze regional labor market trends, needs, and issues, in order to develop strategic workforce solutions for the system in Jasper, La Porte, Newton, Porter, Pulaski and Starke counties.

NIPSCO Economic Development Department
www.nipsco.com
NIPSCO Economic Development Department partners with our communities, businesses and organizations to provide one-stop economic development services and to promote the benefits of expansion or relocation in northern Indiana to prospective industrial companies and site consultants.

Indiana Economic Development Corporation
www.indianacommerce.com
The Indiana Economic Development Corporation (IEDC) is the State of Indiana's lead economic development agency. IEDC was officially established in February 2005 to replace the former Department of Commerce. In order to respond quickly to the needs of businesses, IEDC operates like a business. Led by Indiana Secretary of Commerce and IEDC CEO Patricia R. Miller, IEDC is organized as a public private partnership governed by a twelve-member board. The IEDC Board of Directors is chaired by Governor Mitch Daniels and reflects the geographic and economic diversity of Indiana. The IEDC focuses its efforts on growing and retaining businesses in Indiana and attracting new business to the State of Indiana.

Porter County Economic Development Department
www.porterco.org
Porter County Economic Development Department initiatives throughout the County.

Consumer Expenditures
Current Year – 2005  Projected Year – 2010

(Demographics within a 5 mile radius)

 All Stores - Consumer Potential 2005

Traffic Count Report Summary
Chesterton, IN-Radius: 5 mile(s)