'Economic development project' means any project that:(1) the county, city, or town determines will:(A) promote significant opportunities for the gainful employment of its citizens;(B) attract a major new business enterprise to the county, city, or town; or(C) retain or expand a significant business enterprise within the county, city, or town; and(2) involves an expenditure for:(A) the acquisition of land;(B) interests in land;(C) site improvements;(D) infrastructure improvements;(E) buildings;(F) structures;(G) rehabilitation, renovation, and enlargement of buildings and structures;(H) machinery;(I) equipment;(J) furnishings;(K) facilities;(L) administrative expenses associated with a project described in this section, including contract payments to a nonprofit corporation whose primary corporate purpose is to assist government in planning and implementing economic development projects;(M) operating expenses of a governmental entity that plans or implements economic development projects; or(N) substance removal or remedial action in a designated county, city, or town;or any combination of these.As added by P.L.243-2015, SEC.10.
Indiana Legal Code