A proposal to promote transparency and accountability for businesses receiving taxpayer-funded incentives is moving forward. Co-authored by State Senator Jean D. Breaux, Senate Bill 162 requires incentive-receiving corporations to submit an annual progress report to the Indiana Economic Development Corporation (IEDC). The report would include a list of performance goals, an expected amount of financial investment and the projected number of employees hired compared to the amount of jobs actually created. The IEDC would also be required to file an annual compliance report to include active incentive recipients. Incentives would be revoked if a company did not meet requirements specified in the initial contract.
Hoosier Economy Breaux initiative brings greater transparency to economic development incentives