A business must have been located in the zone on February 1, 1993*, or must be a business in Indiana starting operations or moving to the zone. Businesses outside the zone can qualify by establishing an addition site in the zone. A business may relocate and be eligible for zone benefits under special circumstances. If the business exists inside and outside the zone, it may not substantially relocate its operations to a zone for enterprise zone benefits.
* This does not apply to businesses as a result of zone expansions. Contact LUEA for details.
A business must register with the State Urban Enterprise Zone Board and the Lafayette Urban Enterprise Association to claim benefits. To register, the business must file a registration form (Form EZB-R) by May 31 of each year and pay a participation fee. The participation fee is a percentage of the tax benefits claimed. The participation fee for the LUEA is 35% of total zone tax savings. The business must also pay a percentage (1%) to the State Urban Enterprise Zone Board if the zone tax benefits claimed exceed $1,000.