Cost of Doing Business

The cost of doing business in Evansville, Indiana is quite competitive and we'd enjoy the opportunity to prove it! See what real companies, like SS&C Technologies are saying about the low costs and ease of doing business in Evansville. 

The competitive cost of doing business, the ability to recruit and retain talent from local and regional universities and the great working relationships we have forged with the local and state governments are some of the reasons why SS&C selected and continues to grow in Evansville," said Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies. 

State of Indiana

  • Right-to-work state as of February, 2012
  • Ranked Best Place for Business in the Midwest
  • 5th best place to do business in the nation
  • 11th lowest electric utility costs
  • 2nd lowest worker comp rates in the U.S.
  • No Inventory Tax
  • No Sales tax on manufacturing equipment



Indiana ranks 1st in the Midwest and 8th nationally in the Tax Foundation’s 2015 State Business Tax Climate Index (Oct. 2014).

Indiana’s corporate income tax rate is steadily decreasing from the current 7% to 4.9% by 2021. The tax rate will continue to drop each year as the decrease is phased-in.

Average Pay by Selected Industry - Average Yearly Salary

Business and Financial Operations Occupations $62,839
Computer and Mathematical Occupations $70,853
Construction and Extraction Occupations $48,213
Healthcare Practitioners and Technical Occupations $72,843
--Family and General Practitioners $184,573
--Registered Nurses $60,000
Management Occupations $93,191
Production Occupations $36,465
--First-Line Supervisors of Production and Operating Workers  $56,889
--Machinists $40,585
--Multiple Machine Tool Setters, Operators and Tenders, Metal and Plastic $46,307
Transportation and Material Moving Occupations $34,276
--Heavy and Tractor-Trailer Truck Drivers $45,873
--Light Truck or Delivery Truck Drivers  $33,049
Source: Hoosiers by the Numbers

Evansville Tax Structure

Personal Income Tax
State Rate 3.23%
Vanderburgh County Resident 1%
Vanderburgh County Non-Resident 0.25%
Rates are applied to adjusted gross income and do not vary based on income.


Corporate Adjusted Gross Income Tax
Gross Rate 6.50%
Rates are applied to adjusted gross income and do not vary based on income. Various incentives are available to eligible companies to reduce this rate.


Sales and Use Tax
Sales and Use Tax 7.00%
Exemptions include: Manufacturing raw materials, manufacturing equipment, utilities and other consumables used in production and environmental control equipment used by manufacturers. Most services are not subject to tax.


Real & Personal Property / Per $100 AV
Median Tax Rate $2.12
Range by Taxing Districts $1.7337-2.880
Business property taxes are capped at 3% of the assessed value.


Electricity (Industrial Avg.) $.0715/kWh
Source: Vectren Economic Development (Discounts may be available)


Unemployment Insurance
New Employer Rate 2.50%
Taxable Wage Base $9,500
Percentage rates may be lowered after 36 months of compliance, or raised due to non-compliance. $9,500 is the maximum taxable amount per employee.
Source: Indiana Department of Workforce Development


Workers’ Compensation (per $100 of payroll)
Average Rate for Manufacturing $2.19
Average Rate for Office $0.28
All Classes Average $1.37
Index Rate $1.16
Source: Indiana Compensation Ratings Bureau