Ohio

The Ohio Community Reinvestment Area program is an economic development tool administered by municipal and county government that provides real property tax exemptions for property owners who renovate existing or construct new buildings. Community Reinvestment Areas are areas of land in which property owners can receive tax incentives for investing in real property improvements.
Ohio Rural Business Growth Program is designed to increase capital investment in businesses located in rural areas. The program provides an incentive to investors that capitalize companies with principal business in a county with less than 200,000 people. It awards tax credit allocation authority to Rural Business Investment Companies or Small Business Investment Companies, or their affiliates, that serve as intermediaries between investors and projects. The investor provides cash to these authorized investment companies in exchange for the tax credit. The investment companies then deposit those investments into a rural business growth fund, using the fund to finance projects in rural areas.
The Ohio Enterprise Zone Program is an economic development tool administered by municipal and county governments that provides real and personal property tax exemptions to businesses making investments in Ohio. The Enterprise Zone Program can provide tax exemptions for a portion of the value of new real and personal property investment (when that personal property is still taxable) when the investment is made in conjunction with a project that includes job creation.
Transformational Mixed-Use Development Program provides a tax credit against Development costs incurred during the construction of a project that will be a catalyst for future development in its area.
The Rural Industrial Park Loan Program (“RIPL”) promotes economic development by providing low-interest direct loans to assist eligible applicants in financing the development and improvement of industrial parks and related off-site public infrastructure improvements.
Ohio Sports Event Grant Program – A local organizing committee, endorsing municipality, or endorsing county that has entered into a joinder undertaking with a site selection organization, may apply for a grant from the sports event grant fund created under section 122.122 of the Revised Code with respect to a game that has not been held in this state by the organization in either of the two preceding years and to which either of the following applies: (1) The organization accepts competitive bids to host the game or (2) The game is a one-time centennial commemoration of the founding of a national football organization, association, or league.
The local organizing committee, endorsing municipality, or endorsing county is eligible to receive a grant under this section to offset its qualifying costs only if the projected incremental increase in receipts from the tax imposed under section 5739.02 of the Revised Code, as determined by the director, exceeds $250,000.
Loan Loss Reserve Program offers credit enhancement of up to 50% of a qualified energy efficiency project on an existing structure. Ohio Port Authorities originate loans for projects that make businesses’ and nonprofits’ facilities more energy efficient.
Brownfield Remediation Program is designed to provide grants for the remediation of brownfield sites across Ohio to clean up the sites and prepare them for future economic development. Nearly $350 million is available. The majority of the funds, approximately $262 million, will be available on first-come, first-served basis statewide as provided for in statute. The balance of the funds available will provide for a $1 million set-aside per county that will be awarded on a first-come, first served basis until June 30, 2022. After June 30, 2022, any remaining funds in the county set-aside will be added to general fund and made available for grants throughout the state on a first-come, first-served basis.
Building Demolition and Site Revitalization Program is designed to provide grants for the demolition of commercial and residential buildings and revitalization of surrounding properties. Nearly $150 million is available. The majority of the funds, approximately $106 million, will be available on first-come, first-served basis statewide as provided for in statute. The balance of the funds available will provide for a $500,000 set-aside per county that will be awarded on a first-come, first served basis until June 30, 2022. After June 30, 2022, any remaining funds in the county set-aside will be added to general fund and made available for grants throughout the state on a first-come, first-served basis.
Alternative Stormwater Infrastructure Loan Program offers below-market rate loans for the design and construction of green infrastructure as part of economic development projects. Up to $5 million in loan funds per project are available to governmental entities through the program. Developers are encouraged to work with the governmental entity for their projects. The funds can pay for design, demolition, construction, materials and administrative costs associated with the green infrastructure project.
Energy Efficiency Program helps businesses, manufacturers, nonprofits, schools, and local governments reduce energy use and improve energy efficiency – resulting in lower energy costs by identifying energy use and costs and developing an efficient energy plan.
The JobsOhio Revitalization Program Loan and Grant Fund is designed to support the acceleration of redeveloping sites in Ohio. Business, non-profits or local governments where the entity committing the jobs has signed an agreement such as a letter of intent, option, lease or holds title for the project site and has a specific business plan, financing plan and schedule for redevelopment and job creation to occur are eligible to apply. An eligible site is an abandoned or under-utilized contiguous property where redevelopment for the immediate and primary purpose of job creation and retention are challenged by significant redevelopment constraints. Revitalization projects typically retain and/or create at least 20 jobs at a wage rate commensurate with the local market. Priority will be given to job creation and retention projects within JobsOhio targeted industry sectors, those making additional capital investment beyond remediation and redevelopment and/or projects with wages higher than the average local wage rate. Typical loan funding is between $500,000-$5 million and between 20% and 75% of eligible costs. Typical grant funding is up to $1 million.
The Ohio Historic Preservation Tax Credit Program provides a state tax credit up to 25% of qualified rehabilitation expenditures incurred during a rehabilitation project, up to $5 million. The tax credit can be applied to applicable financial institutions, foreign and domestic insurance premiums or individual income taxes.
Ohio New Markets Tax Credit Program provides an incentive for investors to fund businesses in low-income communities.
Qualified Energy Project Tax Exemption provides owners (or lessees) of renewable energy projects with an exemption from the public utility tangible personal property tax.
Ohio Opportunity Zones Tax Credit Program provides an incentive for Taxpayers to invest in projects in economically distressed areas known as “Ohio Opportunity Zones.”
Ohio Meat Processing Grant provides grants of up to $250,000 to Ohio livestock and poultry producers so they can implement processing efficiencies, expand or construct facilities at existing sites, assist in training and certification, and improve harvest services.
Tax Increment Financing (TIF) is an economic development mechanism available to local governments in Ohio to finance public infrastructure improvements and, in certain circumstances, residential rehabilitation.
Energy Loan Fund helps small businesses, manufacturers, nonprofits, and local governments implement energy efficiency improvements to lower energy use and costs. Through the Energy Loan Fund eligible applicants receive low-interest financing to install efficiency measures that reduce energy by at least 15%.
Ohio Brownfield Fund is a collection of funding sources that can be used to help plan, assess, and remediate brownfields throughout the state. A brownfield is a piece of property whose redevelopment is complicated by the potential presence of environmental contaminants such as hazardous substances, asbestos, lead-based paint, and petroleum. Brownfield redevelopment allows a community to reclaim and improve its lands, making property viable for new development.
SiteOhio puts properties within industrial zoning through a more stringent and comprehensive review and analysis than any other state site certification process in the U.S. Site authentication guarantees that all utilities are on the property and have adequate capacity, that due diligence studies have been completed, and that all state and federal entities have provided concurrence with the studies.
The Water and Wastewater Infrastructure Grant will provide nearly $250,000,000 to help Ohio communities make necessary investments in water and wastewater infrastructure.
Roadwork Development (629) funds are available for public roadway improvements, including engineering and design costs. Funds are available for projects primarily involving manufacturing, research and development, high technology, corporate headquarters, and distribution activity. Projects must typically create or retain jobs.
The JobsOhio Growth Fund Loan provides capital for expansion projects to companies that have limited access to capital and funding from conventional, private sources of financing. JobsOhio will consider loans to companies that are in the growth, established or expansion stage, and that have generated revenues through a proven business plan. The program may finance allowable project costs with JobsOhio Growth Fund Loans typically ranging in size from $500,000 to $5,000,000. For established and expansion stage companies, projects should typically receive more than half of their total financing from other private capital sources. For growth stage companies, JobsOhio may consider financing a higher portion of the project’s total investment.
The JobsOhio Workforce Grant was created to promote economic development, business expansion, and job creation by providing funding for the improvement of worker skills and abilities in the State of Ohio. The program requires job creation and training of employees within a specified period of time and may consider the amount of proceeds per job created and employee trained. JobsOhio may consider providing assistance for eligible projects that improve operational efficiencies or production expansion, along with the retention of jobs.