Regional Development

Explore the range of opportunities available to developers in the Accelerate Rural Indiana economic development region.

Small Town Opportunity Initiative

What is the Small Town Opportunity Initiative (STOI)?

The Small Town Opportunity Initiative (STOI) incentivizes for-profit and non-profit developers to redevelop, rehabilitate or preserve vacant/underutilized land/buildings in community centers, downtowns and Main Streets. It is available to those investing in qualified sites within specific population parameters.

Who is eligible to apply for the  Small Town Opportunity Initiative (STOI)?

STOI is available to taxpayers who make qualified investments in the redevelopment or rehabilitation of a qualified redevelopment site, which includes distressed buildings (or sites where distressed buildings once stood) in the downtown area of a city or town with a population less than 30,000 or unincorporated areas of less than 75,000 people. 

Information and Resources

Redevelopment Tax Credits

What are Regional Redevelopment Tax Credits (RTC)?

The Regional Redevelopment Tax Credit (RTC) is an income tax credit incentivizing taxpaying developers to redevelop vacant and underutilized land and buildings—encouraging community revitalization and improving our regions’ quality of place.

Who is eligible to apply for Regional Redevelopment Tax Credit (RTC)?

RTC is available to taxpayers who make qualified investments in the redevelopment or rehabilitation of a qualified redevelopment site in any of Indiana’s 15 economic regions. A qualified redevelopment site is considered vacant land or underutilized land and buildings.

Application Process

Complete Application and Gather Documentation

An application must be approved by the region and IEDC before an investment is made. Once completed, applications are to be emailed to director@edcgdc.com and mgordon@hwcengineering.com.

Submission Deadline to the ARI RDA

The Development Board voted to establish a regional deadline for developers to submit applications. All RDTC and STOI applications are due to the ARI RDA by Wednesday, October 7th, 2026, at midnight.

ARI RDA Review of RDTC/STOI Applications

All project information will first be submitted to the project’s regional entity for initial review. The ARI RDA Board will meet on October 16th, 2026, to grade the submitted applications and provide feedback.

ARI Submits Recommendations to IEDC

Preliminary applications will be sent by the region to the IEDC for final review and approval. All applications will be submitted by regional entities to IEDC on October 31st, 2026.