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Ohio Economic Development Directory


OH Statewide Economic Development Agencies

Ohio Business Development Coalition
Executive Director
41 South High Street
Columbus, OH USA 43215
614-857-0900
www.ohiomeansbusiness.com

OH Utilities

Buckeye Power
Dennis Mingyar
Economic Development Director
6677 Busch Boulevard
Columbus, OH USA 43229
614-846-5757
[email protected]
www.buckeyepower.com
Buckeye Power is the generation and transmission company owned by Ohio’s 25-member electric distribution cooperatives. Our service area covers portions of 77 of Ohio’s counties.

OH Regional Economic Development Agencies

OH County Economic Development Agencies

OH City Economic Development Agencies

City of Hudson, Economic Development Department
Charles E. Wiedie (EDFP)
Economic Development Director
51 South Main Street, Suite 3
Hudson, OH USA 44236
330-342-1893
[email protected]
www.thinkohiothinkhudson.com
Effortless access to nearby metropolitan centers, multiple shovel-ready and move-in-ready sites and a pool of highly-skilled talent, make Hudson, Ohio the ideal destination for companies interested in growing their business.
City of Strongsville
Brent Painter

Manager of Economic Development
16099 Foltz Parkway
Strongsville, OH USA 44149
440-580-3118
[email protected]
www.strongsville.org
Stongsville Business Park contains over 1,693 acres of land supporting over 70 companies and employing over 2,800 people. Currently the City owns and is marketing 169 acres of developed greenfields. Prices per acre range from $50k to $70k.
Xenia Economic Growth Corporation
Steve Brodsky
Executive Director
181 West Main Street
Xenia, OH USA 45385-2935
937-372-6389
[email protected]
www.xegc.org
XENIA, OHIO is centrally located in the “Transportation Triangle” formed by I-70, 75, and 71. Reasonably priced industrial sites, skilled labor and excellent incentives: Xenia is the place to be.
City of Columbus Department of Development
William Webster
Director
50 West Gay Street, 3rd Floor
Columbus, OH USA 43215-2821
614-645-7795
www.development.columbus.gov

Ohio State Incentives

Ohio JOB CREATION TAX CREDIT: Provides corporate franchise or state income tax credit for businesses that expand or locate in Ohio for companies that incur tax liability under ORC Sections 5733.06 or 5747.02. Program will provide a tax credit against the Commercial Activity Tax (CAT) . Insurance companies that pay the annual franchise tax under ORC Sections 5725.18/5729.03 are eligible for the tax credit.

Ohio JOB RETENTION TAX CREDIT: Provides corporate franchise or state income tax credit for businesses that commit to retain a significant number of full-time jobs. Program will provide a tax credit against the Commercial Activity Tax (CAT).

Ohio RESEARCH AND DEVELOPMENT INVESTMENT TAX CREDIT: Provides a nonrefundable tax credit against the corporate franchise tax and is designed to encourage Ohio’s corporations to invest in increased research and development activities. The credit equals 7 percent of the excess amount of Qualified Research Expenses.

RESEARCH AND DEVELOPMENT SALES TAX EXEMPTION: Provides an exemption from the usual state and county sales tax for companies that purchase equipment for research and development activities. Exempts business from entire state and county sales tax for purchases of machinery and equipment used primarily for research and development.

RESEARCH & DEVELOPMENT INVESTMENT LOAN FUND: Provides loan financing of between $1 million and $5 million for projects primarily engaging in R&D activity. Rates are fixed (at or below market rates) with terms similar to those of commercial bank financing. Companies receive a dollar-for-dollar, non-refundable Ohio commercial activity tax credit for all principal and interest payments during the year.

MANUFACTURING MACHINERY & EQUIPMENT SALES TAX EXEMPTION: an exemption from state and county sales tax for companies that purchase machinery and equipment for manufacturing activities. Exempts business from entire state and county sales tax for purchases of machinery and equipment used primarily for manufacturing.

WAREHOUSE MACHINERY & EQUIPMENT SALES TAX EXEMPTION: Exempts business from entire state and county sales tax for purchases of eligible machinery and equipment. Includes machinery and equipment used primarily (51 percent) in storing, transporting, mailing or handling inventory in a warehouse, distribution center or similar facility if the inventory handled by the facility is primarily distributed outside Ohio to retail stores owned by the business or affiliated group that owns the Ohio facility or distributed by means of direct marketing.

TECHNOLOGY INVESTMENT TAX CREDIT: Offers a variety of benefits to Ohio taxpayers who invest in small, research and development and technology-oriented forms. This incentive provides a tax credit for taxpayers that invest in small, Ohio-based technology companies. The amount of the tax credit is 25 percent (or 30 percent in some limited cases) of the amount invested by the taxpayer. The maximum investment to which this credit may be applied is $250,000 (or $300,000). The credit may be claimed against personal income tax, corporate franchise tax, public utility excise tax or the dealers in intangibles tax.

ENTERPRISE ZONES: Provides real property tax incentives for businesses that expand or locate in Ohio (may provide personal property tax incentives for those qualifying businesses that continue to pay personal property tax).

OHIO HISTORIC PRESERVATION TAX CREDIT: Provides a tax credit for the rehabilitation expenses to owners of historically significant buildings. Funding is provided through competitive rounds based on economic benefit and regional distributive balance. The tax credit subsidy is 25 percent of qualified rehabilitation expenditures (QRE) not to exceed the QRE estimates in the application, with an application cap of $5 million.

COMMUNITY REINVESTMENT AREAS: Provides local real-property tax incentives for residents and businesses that invest in designated areas of Ohio—up to 100 percent exemption of the improved real property tax valuation for up to 15 years depending on the project.

RAPID OUTREACH GRANT: Funds are used for the acquisition of machinery and equipment, new building construction, building acquisition, on- or off-site infrastructure improvements and other fixed asset investments, manufacturing, research and development, high technology, corporate headquarters, and distribution. Given the demand for limited grant funds, qualified projects must involve substantial job creation or retention.

ROADWORK DEVELOPMENT (629) ACCOUNT: Available for public roadway improvements, including engineering and design costs. Funds are available for projects primarily involving manufacturing, R&D, high technology, corporate headquarters and distribution activity. Projects must typically create or retain jobs. Grants are usually provided to the local jurisdiction and require local participation.

INNOVATION OHIO LOAN FUND: Provides loans for acquisition, construction and related costs of technology, facilities and equipment purchase. It was created to assist existing Ohio companies in developing next-generation products and services within Targeted Industry Sectors.

OHIO ADVANCED ENERGY FUND: Administered by the Ohio Energy Office, connects companies and communities with financial and technical resources to deploy energy efficiency and renewable energy technologies, and to support advanced energy economic development.

OHIO ENTERPRISE BOND FUND: Provides revenue bond financing through an S&P rated fund whereby proceeds from the sale of bonds is loaned to companies for fixed-rate, long-term capital asset financing. Rates are fixed prior to funding, depending on the type of bond issued, with terms between seven to 10 years for equipment and 15 to 20 years for real estate. Up to $10 million in financing is available through the Program.

OHIO JOB READY SITES PROGRAM: Created to bolster Ohio’s inventory of available facility locations served by utility and transportation infrastructure. Sites improved under the program are kept ready for future business prospects seeking locations for new or expanded operations. The grants may be used to offset costs traditionally incurred in industrial and commercial site development, from acquisition of real property to utility upgrades to construction build-out of speculative facilities.

RURAL INDUSTRIAL PARK LOAN: Provides direct loans to rural, distressed local communities and applicants committed to creating well-planned industrial parks.

URBAN REDEVELOPMENT LOAN: Provides low-interest loans to municipalities or designated nonprofit economic development organizations to acquire real estate for assembly into developable parcels and remediate any Brownfield contamination site to entice private business investment in distressed urban locations.

WORKFORCE DEVELOPMENT FUNDING WORKFORCE GUARANTEE PROGRAM: Supports companies that are making investments in facilities, equipment and training that result in the retention and creation of jobs for Ohioans. It provides direct financial support to employers for training, paying for a portion of instructor salaries, materials, travel and special needs.

INVEST OHIO: Provides a non-refundable personal income tax credit to investors that infuse new equity (cash) into Ohio small businesses to acquire an ownership interest in the company. The small business is required to reinvest that infusion of cash into one of five categories of allowable expenses within six months of its receipt. The investor must retain his or her ownership interest for a two-year holding period before the tax credit may be claimed. The small business must similarly retain the property that it purchased from the cash infusion for the entire two-year holding period.

LOCAL GOVERNMENT INNOVATION FUND (LGIF): Established to provide financial assistance to Ohio political subdivisions for planning and implementing projects that are projected to create more efficient and effective service delivery within a specific discipline of government services for one or more entities. Through this program, the Ohio Department of Development seeks to promote efficiency, collaboration, merger and shared services among local governments. Projects are also expected to facilitate improved business environments and promote community attraction.

The LGIF program will award up to $100,000 in grant funds per feasibility study, up to $100,000 in loan assistance per entity for demonstration projects and up to $500,000 in loan assistance for collaborative demonstration projects. Award amounts for applicants with collaborative partners are limited to $100,000 per applicant and $100,000 for each collaborative partner up to $500,000. Grant funds will be awarded biannually and loan funds will be awarded quarterly through a competitive and open selection process.

OHIO NEW MARKETS TAX CREDIT PROGRAM: Provides investors with state tax credits in exchange for delivering below-market -rate investment options to Ohio businesses, sparking revitalization in Ohio’s low-income communities.

OHIO MOTION PICTURE TAX CREDIT: Provides a refundable credit against the corporation franchise or income tax for various Ohio productions. The tax credit is available to applicants making eligible productions as certified by the Director of Development. The tax credit is equal to 25 percent of non-wage and nonresident wage Ohio production expenditures and 35 percent of Ohio resident wage production expenditures.

VOLUME CAP: Provides a federal tax benefit by allowing eligible issuers to issue tax exempt Private Activity Bonds up to a state limit known as the “Volume Cap.” The State of Ohio’s allocation of Volume Cap is determined annually by the Internal Revenue Service on a per capita basis, and may be used for projects consisting of multi-family housing, single-family housing, exempt facilities, manufacturing and student loan bonds.

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