Incentives & Taxes

Local Incentive Programs – Availability is based on location of Project

The Ohio Enterprise Zone program provides real and personal property tax incentives for businesses that expand or relocate in Ohio. To establish an Enterprise Zone, a municipality or county must apply to the Director of Development for certification. To secure benefits, non-retail businesses must apply to the local community for local property tax exemptions and to the Director of Development for state income tax incentives.

Community Reinvestment Areas provide companies locating in a designated Community Reinvestment Area an abatement of up to 100 percent for 15 years on real property taxes. To be eligible, a company must be making new real property investment and formalizing an agreement with the local community prior to going forward with the qualifying project.

Revolving Loan Fund offers project funding is targeted to business expansions and start-ups for industrial and manufacturing endeavors including the following:

  • Land (including on-site improvements)
  • Building (including construction, rehabilitation and leasehold improvements of a capital nature)
  • Machinery and Equipment
  • Off-Site Infrastructure directly related to business or industrial development

The RLF will fund up to a maximum of 40% of the total project costs.  Maximum RLF assistance is $25,000 per full-time job created.  The terms will be the useful life of the machinery and equipment and up to 15 years on real estate.

Municipal Income Tax Rebate provides an incentive, allowable under Ohio Revised Code 718.15, to new or existing businesses within city limits which are creating new, full-time jobs.  Qualified companies may be eligible for a non-refundable income tax credit against their for-profit or individual income tax.  The rate and term of the credit is negotiated by the city administration, Authority, and ultimately approved by city council (or its designated municipal income tax credit advisory council) on an individual basis.

Community Development Block Grant funds granted to communities to help pay for publicly owned infrastructure improvements directly related to job creation or retention by a for-profit business.  In most cases, assistance is limited to providing no more than half of the total off-site infrastructure cost.  Some distressed communities may qualify for up to 75 percent of the off-site infrastructure cost.

Employment Pre-screening, Testing, and Recruitment Services through the area’s workforce development offices, prospective employers in Ohio can access “one-stop” services for the hiring and placement of new employees.  Services available through Northwest Ohio Jobs Centers include: matching your employment needs with existing job and applicant pools, testing and screening prospective workers; and other workforce services.

Training Cost Assistance: Certain training costs associated with the hiring of new employees qualify for partial reimbursement through the Williams County County Department of Job & Family Services. Contact our office for more information or the Northwest Ohio Job Center.

Foreign Trade Zone 8FTZ 8 Logo

From large manufacturers to individuals, any size importer or exporter can take advantage of a foreign-trade zone (FTZ). The fundamental benefits offered by the FTZ program are the ability to defer, reduce or even eliminate U.S. Customs duties on products admitted to the zone.

Toledo Lucas County Port Authoritytoledo-lucas-county-port-authority

The TLCPA has developed a national reputation for innovative business financing, assisting over 390 economic development projects representing a total investment of more than $2 billion while helping to create and retain nearly 18,800 jobs.

For more information on loan and bond programs contact:
Laurie Cantrell, Financing Programs Manager
Email: lcantrell@toledoport.org Phone: 419.243.8251

BetterBuildings offers financing for projects that focus on conserving energy and generating savings through equipment upgrades to existing facilities. The following lists some of the energy improvements eligible for upgrades:

  • Lighting and Building Controls
  • HVAC, Boilers and Chillers
  • Compressor, Motors and Drives
  • Refrigeration
  • Waste Energy Recovery
  • Electrical Distribution
  • Insulation
  • Building Envelope (roofing, windows, etc.)

For more information, call BetterBuildings Northwest Ohio today at 419.243.8251.

Ohio Development Services Agency
odsa-logo

The mission of the Ohio Development Services Agency to help create jobs and build strong communities in Ohio. ODSA offers a variety of Community Grants, Loans, Bonds, and Tax Credits. For companies looking to relocate or expand in Ohio, ODSA works with JobsOhio to offer businesses comprehensive packages of financial and technical assistance resources for job creation and retention.

 

State Funding & Grants: JobsOhiojobsohio_logo_social

JobsOhio has a variety of loans and grants available to businesses in Ohio. Ohio’s strategic location and pro-business climate bring together a full range of benefits that align with the financial needs of growing businesses.

  • JobsOhio Economic Development Grant
  • JobsOhio Growth Fund Loan
  • JobsOhio Research & Development Grant
  • JobsOhio Revitalization Program
  • JobsOhio Workforce Grant

Ohio Taxes

Ohio’s new taxation system means businesses can:

  • Reduce operating costs – No tax on inventory or corporate income
  • Enhance productivity – No tax on investments in machinery and equipment
  • Enjoy a level playing field – All companies taxed the same low rate
  • Boost return on investment – No tax on product sold to customers outside Ohio
  • Reward entrepreneurship – First $1 million in gross receipts are tax-free; companies with sales between $150,000 and $1 million pay only a $150 flat fee