Indiana Gov. Mike Pence on Monday announced a nearly 5 million subsidy to aerospace giant Raytheon, to help the company expand its facility and hire more people in Indiana.
From the state’s press release:
The Indiana Economic Development Corporation (IEDC) offered Raytheon up to $4,400,000 in conditional tax credits and up to $400,000 in training grantsbased on the company’s investment and job creation plans of up to 349 new jobs by 2020. These incentives are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. In addition, the IEDC will provide the city of Indianapolis with up to $1,000,000 in infrastructure assistance from the state’s Industrial Development Grant Fund. The city of Indianapolis supports the project at the request of Develop Indy, a business unit of the Indy Chamber.
Pence is ex officio chairman of the IEDC, which Gov. Mitch Daniels created in 2005.
