State Resources

JobsOhio Economic Development Grant

Exists to promote economic development, business expansion and job creation by providing funding for eligible projects in the state of Ohio.

JobsOhio Growth Fund

Provides capital for expansion projects to companies that have limited access to funding from conventional, private sources of financing.

JobsOhio Revitalization Program

Focuses on helping rejuvenate sites in preparation for end-users that support job creation opportunities for Ohioans. The program, which includes both loans and grants, is available to public and private entities seeking to clean up and redevelop sites across Ohio.

Ohio 166 Direct Loan

Provides eligible businesses loans for land and building acquisition, construction, expansion or renovation, and equipment purchases. The program provides low-interest loans up to 40 percent of the cost not to exceed $1.5 million.

JobsOhio Workforce Grant

Promotes economic development, business expansion and job creation by providing funding to companies for employee development and training programs.

Research & Development Center Grant

Facilitates the creation of corporate R&D centers in Ohio to support the development and commercialization of emerging technologies and products.

Ohio Research & Development Investment Loan Fund

Provides loan financing ranging from $500,000 to $5 million for projects primarily engaging in R&D activity. The loans have fixed rates (at or below market rates) and other loan terms similar to those of commercial bank financing. Companies receive a dollar-for-dollar, nonrefundable Ohio commercial activity tax credit for principal and interest payments made during the year up to $150,000 during the loan term.

Ohio Enterprise Bond Fund

Offers revenue bond financing through an S&P-rated fund, whereby proceeds from the sale of bonds are loaned to companies for fixed-rate, long-term capital asset financing. Rates are market-driven and fixed prior to funding. Loan terms range from 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.

Innovation Ohio Loan Fund

Provides loans for acquisition, construction and related capital costs of technology, facilities and equipment purchases. The fund was created to help Ohio companies develop next-generation products and services within the state's key industry sectors.

Roadwork Development (629) Funds

Available for public roadway improvements, including engineering and design costs. Funds are accessible for projects that create or retain jobs and primarily involve manufacturing, technology, research and development, corporate headquarters and distribution activity. Grants are provided to a local jurisdiction and require local participation.

Job Creation Tax Credit

A refundable and performance-based tax credit calculated as a percent of created payroll and 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. Additional conditions apply. The Ohio Tax Credit Authority must approve applicants before hiring begins.

Data Center Tax Abatement

The abatement provides a sales-tax exemption rate and term that allow for partial or full sales tax exemption on the purchase of eligible data center equipment. Projects must meet minimum investment and payroll thresholds to be eligible. Final approval of the tax exemption is contingent upon the approval of the Ohio Tax Credit Authority.

Ohio Incumbent Workforce Voucher Program

Reimburse employers for up to 50 percent of the eligible employee training costs, up to $4,000 per employee, after the employer pays the full cost of the training, and the employee successfully completes the training. The Program is designed to allow employers to retain and grow their existing Ohio workforce and create a statewide workforce that can meet the present and future demands in an ever-changing economy.

Regional 166 Direct Loan

Provides low-interest loans to businesses creating new jobs or retaining existing employment opportunities at the project site in Ohio. The program promotes economic development, business expansion, job creation and/or job retention by providing low-interest loans to businesses who may have limited access to adequate capital from private sources of financing.

Research & Development Investment Tax Credit

Provides a nonrefundable tax credit against the Commercial Activity Tax (CAT) and is designed to encourage Ohio's corporations to invest in increased research and development activities.

Research & 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.

Learn More About Ohio Resources

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Cleveland, Ohio 44115

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ingear@gcpartnership.com