Business

About three weeks ago I wrote a post addressing some of my concerns regarding the rumored state budget cut to innovation and entrepreneurship initiatives.  Sadly, the state legislatures decided to cut innovation funding substantially.

On July 1 the budget for Indiana's 21st Century Research and Technology Fund was cut by $35 million over the next two years.  This is an extremely short sighted move.  It has a negative impact on both attracting and promoting growth for emerging technology businesses - businesses which have proven to be high growth and high profit.  Promoting the success of these businesses leads to an increase in jobs, increase in average incomes, increase in consumer spending, and increase to tax dollars back to the state.  That is economic improvement.

It is odd that in the year of economic stimulus dollars being granted to the state to boost infrastructure and economy, our state takes a position to decrease funding to businesses that truly impact economic improvement. 

According to their website, the Indiana 21 Fund exists to stimulate the process of diversifying the State's economy by developing and commercializing advanced technologies in Indiana.


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Alerding Castor Hewitt is an Indianapolis law firm focusing on business law, information technology law (including SaaS law and legal technology consulting), private equity consulting, probate and business litigation.