Tax Incentives
We want to help you navigate the financing process from start to finish with programs like our Revolving Loan Fund and expert technical advice. Well even work with you to help you find a brick-and-mortar location! Take a quick look at how to start a business in Ohio or visit our friends at the Ohio Small Business Development Center.
LOCAL INCENTIVES AND PROGRAMS
Fairfield County administers two separately funded loan accounts that you can apply for if you are creating or retaining full-time equivalent jobs anywhere in Fairfield County. Fixed rates, long terms, and even working capital! Learn more here: Revolving Loan Fund
Are you an employer that needs some help getting your staff trained? It doesn't matter if youre coming to Fairfield County now or have been here for decades. The Fairfield County Workforce Development Training Grant helps you attract and train the people that will take your business to the next level.
Are you about to make a big investment in real property in our county?
You should talk to us first about our Ohio Enterprise Zone Program and the Community Reinvestment. Once you see the savings, youll be glad you did!
Not finding the right fit for your company or your needs?
Maybe a Tax Increment Financing arrangement could be the answer. Its a flexible tool that we can help explain to you!
Fairfield County also has port authorities that may help you save money on construction costs, sales taxes and even project financing.
TAX INCREMENT FINANCING
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.
Payments derived from the increased assessed value of any improvement to real property beyond that amount are directed towards a separate fund to finance the construction of public infrastructure defined within the TIF legislation.
Local jurisdictions seeking to establish a TIF project must enact legislation that (a) designates the parcel(s) to be exempted from taxation, (b) declares improvements to private property within the specified area as serving a public purpose, (c) delineates the public infrastructure improvements to be made that will directly benefit the parcel and (d) specifies the equivalent funds to be created for those redirected monies. Only those public infrastructure improvements directly serving the increased demand arising from the real property improvements to the parcel(s) or an Incentive District are eligible for TIF financing.
For more information, please visit: TIF Information
JOINT ECONOMIC DEVELOPMENT DISTRICT
In 1993, the Ohio General Assembly passed legislation enabling local communities to create special-purpose districts known as Joint Economic Development Districts (JEDDs). Since that time, the legislation has undergone two significant rewrites in separate House Bills adopted in 2014 and 2016.
A JEDD agreement enables townships, cities, and villages to cooperatively address concerns associated with economic development, diminishing local revenues, growth, and annexation pressures. A JEDD provides a local-community approach to solving economic development issues by allowing local governments to enter into legal agreements that have the potential to increase revenues and create jobs. JEDD contractual agreements, which vary by jurisdiction, serve as a significant economic development tool for local communities.
A JEDD is a special-purpose territorial district created by contract between municipal corporations and townships for the purpose of encouraging economic development, creating jobs, and improving the economic welfare of citizens (DeWine 2017). Typically, such objectives are accomplished by levying an income tax in the district. The tax revenue is shared by the parties to the JEDD and is used to provide additional services, new facilities, or enhanced infrastructure in the JEDD, depending on the terms of the contract.
For more information, please visit this Ohio State University Extension factsheet: JEDD Information
STATE INCENTIVES
For a list of all state incentives, please visit: State Incentives
For a list of all incentives and programs for business, please visit: Business Incentives
For a list of other economic development programs offered to communities, please visit: Economic Development Programs
For a list of redevelopment programs, please visit: Redevelopment Programs
FEDERAL PROGRAMS
Great loans, trusted advice: US Small Business Administration
Even though we're right next to Columbus and we're one of the fastest growing counties in the state we still qualify for may US Department of Agriculture Rural Development programs.
