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The Revolving Loan Fund (RLF) program is operated through the Department of Economic Development. The major goal of the RLF is to create new permanent jobs or retain existing jobs for Anderson. Generally, any small business is eligible to apply if they meet the definition of SBA size criteria. Exceptions are retail / commercial businesses in well-developed areas, real estate development companies, or construction firms.
The RLF program is designed such that up to 33% of the total project is lent through the RLF and at least 67% is lent by a private lender. In addition, the borrower may be required to make an equity injection of 10% of the total project cost.
For further information, please visit our Local Incentives page or contact us.
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There are several organizations that can assist anyone who is interested in starting a business. The Small Business Development Center (SBDC) provides management assistance to current and prospective business owners. The City of Anderson is served by the East Central Indiana SBDC.
The Service Corps of Retired Executives (SCORE) is dedicated to entrepreneur education and the formation, growth, and success of small business. Both working and retired executives and business owners donate their expertise as business counselors.
Both SBDC and SCORE provide their service at no cost to prospective business owners. Please feel free to contact Karen Soetenga at (765) 648-6116 to learn about SBDC, SCORE and other organizations that provide business support.
The Economic Development Department also posts upcoming events, as well as news and announcements, on its Business Update Facebook and Twitter pages.
A tax abatement is a tool used by local government to attract private investment and job creation by exempting all or a portion of the new or increased assessed value resulting from new investment from the property tax roll. A tax abatement can be granted on either real or personal property.
By the Indiana State statute, tax abatements can be granted for between one to 10 years. Only in year one is the total amount of new assessed value exempt from paying property tax. In each succeeding year, the share of the previously exempted assessed value that is taxable increases. In most cases, the granting of a tax abatement will reduce the amount of property taxes paid by the owner by approximately 50 percent over the full abatement period.
Tax abatements in each instance are allowable only within the city's corporate limits in areas designated as Economic Revitalization Areas established in accordance with the Indiana State statute. Applications are reviewed primarily on new job creation or job retention, economic impact, location and investment amount, though other economic factors are considered. A tax abatement application, including a Statement of Benefits form, must be submitted prior to filing for building permits or the purchase of new equipment. Please contact our office prior to filling out the application to discuss your eligibility and qualification.
If the tax abatement application meets all statutory requirements and suitably meets the local criteria, staff will prepare a preliminary resolution recommending approval by the City Council. A final or confirmatory hearing is usually held within 30 days of the preliminary or declaratory resolution.
Please feel free to contact Small and Existing Business Specialist Karen Soetenga to learn about loan and grant programs currently available through the City of Anderson. We also encourage you to contact the Small Business Development Center (SBDC) for a comprehensive list of state and federal programs.
Please fill out Online Road Repair Request Form and/or call the Street Department at (765) 648-6445.
Please contact the Department of Municipal Development at (765) 648-6055 or use their online request form to report an unsafe structure or environmental nuisance.
All information regarding the Anderson Municipal Airport may be found online.