State: Tax credit program lifts investment in firms

Indiana’s venture capital investment tax credit is being tapped by entrepreneurial companies in search of capital from angel investors and venture capital funds. In 2006, about 160 investors used the program for their investments in Indiana companies, the Indiana Economic Development Corp. said today. The program approved nearly 50 high-growth companies in 2006. These companies plan to raise about $50 million in outside capital over the next one to two years, which would generate $10 million in tax credits for their investors. Indiana shares in the investment risk by pre-qualifying high-growth companies and providing a 20-percent tax credit to encourage investors.

It is exciting to see more and more of this type of activity locally.

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