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State of Ohio Incentives

Ohio offers performance-based incentives to assist companies that are starting, relocating or expanding operations in the state. Funding decisions are based on a number of project factors, including but not limited to job creation, payroll figures, fixed-asset investment commitment, project location and project return on investment.

JobsOhio Loan and Grant Programs
JobsOhio Economic Development Grant

The 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

The JobsOhio Growth Fund provides capital for expansion projects to companies that have limited access to 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 revenue through a proven business plan.

Research and Development Center Grant

The JobsOhio Research and Development Center Grant facilitates the creation of corporate R&D centers in Ohio to support the development and commercialization of emerging technologies and products.

JobsOhio Revitalization Program

The 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.

JobsOhio Workforce Grant

The JobsOhio Workforce Grant promotes economic development, business expansion and job creation by providing funding to companies for employee development and training programs.

State Loan and Grant Programs
Research and Development Investment Loan Fund

The Research and 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.

166 Direct Loan

The 166 Direct Loan gives 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.

Ohio Enterprise Bond Fund

The 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

The 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. Loans range from $500,000 to $1.5 million and can cover up to 75 percent of the project cost.

Roadwork Development (629) Funds

Roadwork Development (629) Funds are 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. They can be used to reimburse accumulated costs.

State Tax Credits
Job Creation Tax Credit

The Job Creation Tax Credit is 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. Companies creating at least 10 jobs (within three years) with a minimum annual payroll of $660,000 and that pay at least 150 percent of the federal minimum wage are eligible for the credit; however, they must apply for the credit before committing to a project. The Ohio Tax Credit Authority must approve applicants before hiring begins.

DataCenter Tax Abatement

The Data Center Tax 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.

JobsOhio and the Development Services Agency retain the right to claw back if the company does not meet the jobs, payroll, and investment commitments by the agreed upon deadline and maintain these commitments through the term of each program agreement.

JobsOhio Economic Development Grant

The 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

The JobsOhio Growth Fund provides capital for expansion projects to companies that have limited access to 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 revenue through a proven business plan.

Research and Development Center Grant

The JobsOhio Research and Development Center Grant facilitates the creation of corporate R&D centers in Ohio to support the development and commercialization of emerging technologies and products.

JobsOhio Revitalization Program

The 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.

JobsOhio Workforce Grant

The JobsOhio Workforce Grant promotes economic development, business expansion and job creation by providing funding to companies for employee development and training programs.

Research and Development Investment Loan Fund

The Research and 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.

166 Direct Loan

The 166 Direct Loan gives 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.

Ohio Enterprise Bond Fund

The 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

The 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. Loans range from $500,000 to $1.5 million and can cover up to 75 percent of the project cost.

Roadwork Development (629) Funds

Roadwork Development (629) Funds are 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. They can be used to reimburse accumulated costs.

Job Creation Tax Credit

The Job Creation Tax Credit is 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. Companies creating at least 10 jobs (within three years) with a minimum annual payroll of $660,000 and that pay at least 150 percent of the federal minimum wage are eligible for the credit; however, they must apply for the credit before committing to a project. The Ohio Tax Credit Authority must approve applicants before hiring begins.

DataCenter Tax Abatement

The Data Center Tax 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.

JobsOhio and the Development Services Agency retain the right to claw back if the company does not meet the jobs, payroll, and investment commitments by the agreed upon deadline and maintain these commitments through the term of each program agreement.

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