Many factors contribute to the level of economic vitality within a city and its geographical region. Some factors, including distance to other markets, proximity to certain modes of transportation (water, rail, air and interstate), federal/state tax policies, and yearly weather patterns, are essentially outside a city's control. That said, and based on a community's priorities and how those priorities are executed, a city can have a substantial impact on the health of its economy and business climate. A community that invests and maintains its roads and utility infrastructure; values and supports education; provides transportation options for its citizens, and, fosters a quality of life that attracts and retains a skilled workforce, will be well positioned to retain, attract and expand business activity.
Communities compete for business investment and within the context of maintaining a high level of community economic vitality and offering businesses a supportive environment to operate and thrive, public incentives are often part of any conversation. Public incentives supplement a good business decision and acknowledge the simple reality that as communities compete to retain, attract and expand business opportunities, some financial inducement is often necessary. Public incentives are not a crutch for an otherwise bad business decision.
The City of Valparaiso begins any incentive analysis with the principle that in order to maintain the level of public services and an overall quality of life that our citizens expect and deserve, everyone must contribute. Public incentives are an investment into the health and sustainability of its business community. When appropriate,
Any questions about any public incentives should be directed to the City's Economic Development Director -- Patrick Lyp. He can be reached at (219) 462-1105 or via his email address at firstname.lastname@example.org.
Below is an overview of Local Public and Private Incentives available. The State of Indiana offers several incentives based on capital investment and job creation.
The Valparaiso City Council is authorized to phase-in the payment of real and personal property taxes of a business investing in Valparaiso. An interested business is encouraged to contact the City's Economic Development Director, Patrick Lyp, to discuss eligibility requirements and the application process. Although not exhaustive, factors that are considered as part of the tax abatement process include: (i) the company making the request; (ii) the amount/type of the proposed investment; (iii) the number of jobs being created (and/or preserved) by the investment; (iv) the types of jobs being created (and/or preserved) and the salaries; (iv) the possibility of future investment by the company in Valparaiso; (v) collateral benefits to other local businesses; and, if applicable, (vii) the history of the company’s compliance with past tax abatement requests.
Click Here to view State forms. Find form 18379 - Real Property Tax Abatement Deduction, and download there.
Click Here to view State forms. Find form 51764 - Statement of Benefits Personal Property, and download there.
Tax Increment Financing (TIF)
The Valparaiso Redevelopment Commission is authorized to designate certain areas within the City as "allocation areas". From within the designated areas, the Redevelopment Commission may capture and reinvest tax revenue for certain allowed projects. The Commission will evaluate proposed projects and when appropriate, invest resources to maximize the redevelopment of a designated area. An interested business is encouraged to contact the City's Economic Development Director, Patrick Lyp, to discuss eligibility requirements and the application process.
Click Here to see a map of the City and the identified allocation areas
Façade & Sign Improvement Grant
The Valparaiso Façade & Sign Improvement Program is designed to promote the continued use and improvement of commercial buildings in the downtown area. It is intended to help property owners and commercial tenants to rehabilitate and restore the visible exterior of existing structures, to construct or enhance rear pedestrian entrances of buildings, and remove nonconforming signage and replace with new conforming signage. Improvements must meet criteria for appropriateness of design. Reimbursement grants are provided to property owners or commercial tenants in recognition of the positive impact that individual property improvements can have on the overall appearance, quality and vitality in areas of Valparaiso in need of redevelopment.
CLICK HERE for more information.
Downtown Fire Safety Grant Program
The City of Valparaiso Downtown Fire Safety Grant Program is designed to promote fire safety within the downtown district. In recognition of the threat that fire poses to the residents of downtown and the public at-large, these grants are intended to promote the installation of fire safety systems including sprinkler systems and fire alarms in existing commercial buildings.
Regulations - CLICK HERE to view.
Application - CLICK HERE to view and download.
Map - CLICK HERE to view
Reimbursement - CLICK HERE to view and download form.
ValpoNet Fiber Infrastructure
In 2014, it was discovered that a lack of diverse fiber connectivity in Valparaiso kept local businesses from expanding and made relocation challenging for businesses with high bandwidth requirements. Based on this discovery, the City of Valparaiso decided to invest in the installation of a vendor-neutral, dark fiber infrastructure through the construction of ValpoNet. Installation of this dark fiber network will provide ample cost effective fiber connectivity throughout Valparaiso. By providing high speed, secure connections for local businesses, the Redevelopment Commission hopes to attract more businesses to the area, and retain businesses with growing connectivity needs. To discover more about this project, you can visit the ValpoNet website by CLICKING HERE. The ValpoNet network went live on May 14, 2018.
The City and VEDC recognize the importance of having relevant information available for commercial property that is listed for sale. Such may include a Phase I Environmental Report; a current survey; or other report/data on the property. The VEDC will consider requests to partner with brokers and property owners to place commercial property in Valparaiso in the best position to sell and be developed. An interested broker or property owner is encouraged to contact the City's Economic Development Director, Patrick Lyp, to discuss eligibility requirements and the application process.
Historic Downtown Liquor License Program
In 2005, the Indiana state legislature authorized the Indiana Alcoholic Beverage Commission (ABC) to issue up to ten additional liquor licenses in City's downtown. Applicants work with the City's Economic Development Director to seek approval from the Downtown Liquor License Committee. Approved applicants must then secure a recommendation from the City Council and final approval from the ABC. The Downtown Liquor License Committee consists of four members appointed by the Mayor. Although all ten licenses are currently in use, the City suggests that interested restaurant entrepreneurs to contact the City's Economic Development Director, Patrick Lyp, to discuss eligibility requirements and the application process.
CLICK HERE for a map of the Downtown Historic District and restaurants currently issued an Historic Downtown Liquor License.
CLICK HERE for Historic Downtown Liquor License guidelines and application.