Gregg, Simpson unveil strategy for small businesses, manufacturing

Democratic gubernatorial candidate John Gregg announced plans Wednesday to strengthen Indiana small businesses and manufacturing.

MANUFACTURING

Offer employers a three-year payroll tax credit to companies for manufacturing jobs returned to Indiana from abroad

Create a Governor’s Office of Manufacturing

Match skilled veterans with manufacturers’ needs

Incentivize manufacturers, using tax credits, to create jobs

Work with universities and high schools for internship and career opportunities
Create Lean Manufacturing Boot Camp Program to increase productivity and renewable energy

SMALL BUSINESS

Create the Hoosier Capital Access Partnership to increase resources for small businesses. Would give funds to banks that loan to small businesses

Encourage micro-lending to make capital available to businesses that do not have access to the traditional commercial banking sector

Invest a percentage of matched federal Small Business Innovation Research funds to help small businesses afford expenses

Create an Indiana Research Commercialization Matching Grant Program that will assist startup companies with state and federal grant applications

Identify areas in regulated industries that include excessive cost, ineffective rules and unintended consequences

Institute New Job Tax Credit for businesses that create jobs

Reduce property taxes for small businesses by exempting business equipment from property tax assessment for the first $1 million

The full plan is available at greggforgovernor.com/docs/Small-Biz-Manufacturing.pdf.

 — Mary Kenney