Urban Enterprise Association
The Urban Enterprise Association board governs the La Porte Urban Enterprise Zone.
Every Third Wednesday of Each Month - 4 pm
2023 Board Meeting Schedule
801 Michigan Avenue, La Porte, Indiana
La Porte Urban Enterprise Association
- Mike Riehle, President
- Bert Cook, Vice President
- Frank Cardello, Secretary / Treasurer
- Cassie Kubaszyk
- Ryan Loucks
- Scott Cooley
- Jim Barnhard
- Laura Cutler, Council Appointee
- Vickie Gushrowski
- Tracy Connors
- Matt Saltanovitz, Nonvoting Member
- Representative Jim Pressel, Nonvoting Member
LA PORTE URBAN ENTERPRISE ASSOCIATION
Enterprise Zone Information
The La Porte Urban Enterprise Association (LPUEA) is a 501(c)3 not for profit organization which serves as the governing body of the La Porte Urban Enterprise Zone. The Association acts as a liaison among Zone residents, businesses and the City of La Porte for any development activity and programs that affect the Zone and its residents.
The Mission of the La Porte Urban Enterprise Association is:
To be a comprehensive economic and community development organization that fosters new investments, partnerships, job creation and redevelopment of the Enterprise Zone.
The Enterprise Zone was established in 2002 for the purpose of creating jobs and new business opportunities, while raising the quality of life within the community. The Zone covers close to a four-square mile designated portion of land within the City of La Porte. Within its borders are more than 450 businesses and a population of over 6,200 residents.
The Zone is a hallmark for urban revitalization and a cornerstone for economic growth and development.
Operating a business IN THE ZONE, working for a company IN THE ZONE and living IN THE ZONE offer a few advantages and incentives. Zone programs help to revitalize the area and promote a better quality of life.
Zone Programs and Incentives
The La Porte Urban Enterprise Zone offers two categories of incentives:
1. To Zone businesses to encourage investment and reinvestment in their business
2. To individual residents residing and working in the Zone
Enterprise Zone Investment Deduction (Indiana Code 6-3.1-10)
Zone businesses can receive a tax deduction for the increased value of a business property due to a real and personal property qualified investment by the business.
The added valuation may be deducted for up to 1 o years. Examples of "qualified investments" include purchase or construction of a new or existing building, purchase of new manufacturing or production equipment, costs associated with the repair or modernization of an existing building and onsite infrastructure improvements.
Employment Expense Credit (Indiana Code 6-3-3-10)
Employers operating a business in the Zone may apply a 10% credit to its State adjusted gross income tax, insurance premium tax and financial institution tax liabilities for the increase in wages paid to qualified Zone resident employees, up to $1,500 per employee.
Employee Tax Deduction (Indiana Code 6-3-2-8)
Qualified employees who live and work in the Zone are entitled to a state tax deduction equal to one-half of their adjusted State gross income, up to $7,500.
A qualified employee is an individual whose principal place of residence is in the Zone, who works 50% of their time for a Zone business and has at least 90% of their service directly related to the employer's Zone business.
The Enterprise Zone Investment Cost Credit (Indiana Code 6-3.1-10) and the Loan Interest Credit (Indiana Code 6-3.1-7) expire January 1, 2028. An application must have been filed and approved prior to January 1, 2018.
For additional information about the enterprise zone in La Porte, contact Mary Ann Richards at 219-362-8260 or firstname.lastname@example.org. The office is located at City Hall,
Basement, 801 Michigan Avenue, La Porte, IN 46350.