Hammond Development Corporation

Hdc expanded its small business incubator plan by acquiring abandoned and vacant buildings in the downtown Hammond area through grants from the city of Hammond and contributions from area businesses. Hdc rehabilitated certain buildings to make useable business space available through rental agreements and outright sales to fledgling businesses that are not able to afford such space at current market prices, nor would the businesses be able to afford to renovate the abandoned spaces to make them business ready. One of hdc's main initiatives has been to attract new high-tech internet start-up firms to downtown Hammond to replace and supplement the rust belt industries that once and still dominate the local economy.on july 1, 1997, hdc created its business builders program to support the city of Hammond's "incubator plan". The purpose of the incubator plan is to assist hammond-based women and minority owned business enterprises. The program includes a revolving loan arrangement and educational programs and activities.

On october 1, 2010, hdc took over the Hammond innovation center (hic) from purdue university calumet to support the city of Hammond's main initiative of attracting new high-tech start-up firms to downtown Hammond. The program includes providing competitively priced office space including a built-in infrastructure of services as well as the necessary business resources to assist in the successful operation of start-up businesses.the hub of innovation is an extension of the Hammond innovation center but is a new avenue for cultivating business and job creation through internship opportunities. This site focuses on introducing university interns to business tenants and contract partnerships.

On june 12, 2018, grants provided by Hammond port authority and the city of Hammond were placed into a restricted account for the use of managing certain visual and performing musical and entertainment acts at the wolf lake pavilion in Hammond, Indiana. This program encourages tourism with the provision of free concert events. The purpose of the grant is the intention that revenue from the musical and entertainment acts will replenish and will continue to be used for this purpose in perpetuity.