OHIO INCENTIVES 

Ohio shows an average deal value of $1.41 million with 103 new jobs created per deal

JOBSOHIO ECONOMIC DEVELOPMENT GRANT

The JobsOhio Economic Development Grant was created to promote economic development, business expansion, and job creation by providing funding for eligible projects in the State of Ohio.  Grant decisions are based on a number of project factors, including but not limited to job creation, additional payroll, fixed-asset investment commitment, project return on investment, and project location.

 The Program required the creation of jobs within a specified period of time (typically three years), and may consider the amount of proceeds per jobs created.  In addition to new jobs, JobsOhio Economic Development Grant Program may consider providing assistance for eligible projects that improve operational efficiencies and product expansion, along with the retention of jobs.  The Program includes projects by companies engaged in JobsOhio’s targeted industries and business functions.  JobsOhio will set a wage floor based on multiple wage considerations.  Ineligible projects include – but are not limited to – retail and other population-driven businesses.

The JobsOhio Economic Development Grant focuses on fixed-asset and infrastructure investment by companies, including the following:

  • Freight shipping of equipment related to the project
  • Infrastructure including utility, telecommunications, information technology
  • Site development costs
  • Purchase of land
  • Machinery and equipment
  • Leasehold improvements
  • Fees and material costs related to planning or feasibility studies
  • Moving and relocation costs of machinery and equipment related to the project
  • Engineering services

The JobsOhio Economic Development Grant term is based upon the project’s completion date (typically three years) and reimbursements are made based on performance.

JOB CREATION TAX CREDIT

The Job Creation Tax Credit is a refundable tax credit to companies generally creating at least 10 new jobs (within three years) with a minimum annual payroll of $660,000, that pay at least 150 percent of the federal minimum wage. The tax credit is measured as a percentage of the state income tax withholdings for all new employees hired under the program, and is applied toward the company’s commercial activity tax liability. Should the amount of the credit exceed the company’s commercial activity tax liability for any given year, the difference is refunded. A business must apply for the credit before committing to the project. Approved projects generally range between 25-55 percent credit for a period of five to seven years.  Applicants must be approved through the Ohio Tax Credit Authority before hiring begins.

JOBSOHIO WORKFORCE GRANT

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.  Grant decisions are based on a number of project factors, including but not limited to job creation, additional payroll, fixed-asset investment commitment, project return on investment, and project location.

The program requires job creation and training of employees within a specified period of time (typically 3 years), and may consider the amount of proceeds per job created and employee trained. In addition to new jobs and employees trained, JobsOhio may consider providing assistance for eligible projects that improve operational efficiencies and production expansion, along with the retention of jobs.  The program includes projects by companies engaged in JobsOhio’s targeted industries and business functions. JobsOhio will set a wage floor based on multiple wage considerations. Ineligible projects include but are not limited to retail and other population driven businesses.

The JobsOhio Workforce Grant term is based upon the project’s completion date (typically three years).  The Grant is reimbursement- based, and thus requires supporting documentation to monitor performance.

OTHER OHIO INCENTIVE PROGRAMS

  • Alternative Fuel Transportation Program
  • Ohio Vacant Facilities Fund
  • JobsOhio Revitalization Program
  • JobsOhio Growth Fund Loan
  • Roadwork Development (629) Grant
  • Innovation Ohio Loan Fund
  • Ohio Motion Picture Tax Incentive
  • Ohio Historic Preservation Tax Credit Program
  • Ohio New Markets Tax Credit Program
  • Job Retention Tax Credit
  • Conversion Facilities Tax Exemption
  • Ohio Community Reinvestment Area
  • Ohio Enterprise Zone Program
  • Ohio Enterprise Bond Fund
  • Research and Development Investment Tax Credit
  • Research and Development Sales Tax Exemption