Officials in Indianapolis announced they will be launching a plan to be more economically inclusive. The city hopes to reduce income inequality by creating more high-wage jobs.
The plan will offer tax breaks to companies that offer employees health care plans and wages that can sustain a middle-class family. In return the company must spend 5 percent of the money it’s saving on transit, training, and childcare for employees.
Ian Nicolini is the vice president of economic development for the Indy Chamber. He says most of the ideas to create upward mobility stem from a study conducted by the Brookings Institute.
“We know that, from that research, we need to create well over 100,000 new jobs making at least 18 dollars an hour, with benefits,” Nicolini says.
Special preference for incentives will be given to 102 “opportunity industries” like pharmaceutical manufacturing and computer information systems. The program is set to take effect in January.
Contact Justin at jhicks@wvpe.org or follow him on Twitter at @Hicks_JustinM