City of East Chicago Programs
The City of East Chicago offers seven year tax abatements on personal and real property for qualified industrial and commercial redevelopment and new construction.
Urban Enterprise Zone
The Enterprise Zone Investment Deduction allows participating Enterprise Zone. Businesses to take a ten year State of Indiana Tax deduction for the following qualified investments:
- Construction of a new building
- On-site infrastructure improvement
- Purchase of an existing building
- Purchase of new manufacturing or production equipment
- Repair, rehabilitation or modernization of an existing building
- Retooling of existing machinery
In order for an Enterprise Zone business to obtain the deduction, an Enterprise Zone Investment Deduction Application must be completed and filed with the Lake County Auditor between March 1 and May 15 of the assessment year. Additionally, the Enterprise Zone business must file an Enterprise Zone Business Registration (EZB-R) form with the Indiana Economic Development Corporation. The registration must be postmarked no later than June 1st of each year. For more information please email the East Chicago Urban Enterprise Academy.
Revolving Loan Fund (RLF)
The City of East Chicago offers fixed rate financing for fixed assets and working capital loans to industrial, commercial, and retail businesses in the City. Loans are available for business expansion or retention, or for new businesses. Rates are generally fixed at two points above or below prime, with a minimum rate of 4%. Five year loans are available for equipment and working capital, and ten years for real estate. The RLF offers $10,000 for each job created or retained. The maximum loan amount is $75,000, to be matched with two dollars of private dollars for each RLF dollar.
Jobs, Education & Training Program (JET)
The JET program helps East Chicago residents find and develop careers by providing them with adequate training programs and referrals. This is accomplished by partnering with business, industry and educational institutions.