All of Henry County, except Pleasant Township, is located in an Enterprise Zone (EZ). Businesses that invest significant, predetermined by the state, dollars in real property or inventory may apply for an EZ Agreement. Tax abatements up to 100%, with approval of the local school district, may be approved. Construction of real property can not occur until the Enterprise Zone Agreement is approved by all entities including the Board of County Commissioners.
Community Reinvestment Areas (CRA) are areas within the various areas of Henry County. CRA(s) in areas within Napoleon and Holgate were established with the intent to encourage investment in real property through remodeling or new construction. New real property investment in these designated areas are 100% tax exempt for a certain period of time depending on what type of dwelling was constructed or remodeled.
Low cost loans, and under certain instances grants, to assist with public infrastructure that is necessary for business expansion or government infrastructure improvement.
This loan program provides low interest loans for financing of business development. However, it is only to be used as gap financing, meaning it is only to be used to fill in the gap between the total project cost and other sources of financing (owner equity, bank loan, etc...). Generally, the dollar amount of the loan is based upon the jobs that will be created.
The Micro-enterprise Business Development Program provides financial assistance for the development of local micro-enterprise businesses. Through the creation and retention of long term jobs in the private sector, this program provides low and moderate income persons with access to capital for business development. To be eligible, the business must be within Henry County, the applicant must not be able to secure sufficient conventional financing, and 51% of the jobs created must qualify as low and moderate income prior to being hired.
The JobsOhio Growth Fund 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 JobsOhio Growth Fund’s loan 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 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 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 JobsOhio Revitalization Program is focused on helping revitalize sites in preparation for end-users that support future job creation opportunities for Ohioans. The program, comprised of both loans and grants, is available to public and private entities seeking to cleanup and redevelop sites across Ohio.
The JobsOhio Research and Development Grant facilitates the creation of corporate Research and Development centers in Ohio to support the development and commercialization of emerging technologies and products.
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 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 are eligible for the credit; however, must apply for the credit before committing to its’ competitive project. Applicants must be approved through the Ohio Tax Credit Authority before hiring begins.
The Ohio Enterprise Zone Program provides real property tax incentives for businesses that expand or relocate in Ohio. To establish an Enterprise Zone, a municipality or county must apply to the Director of Development for certification. To secure benefits, businesses must apply to the local community. Certain qualifying businesses may be eligible for additional benefits.
The Community Reinvestment Areas provide companies locating in a designated Community Reinvestment Area an exemption of up to 100 percent of improvement value for up to 15 years on real property taxes. To be eligible, a company must make an agreement with the local community prior to going forward with the qualifying project.
The Research and Development Investment Loan Fund provides loan financing between $500,000 and $5 million for projects primarily engaging in research and development activity. Rates are fixed (at- or below-market rates) with other loan terms similar to those of commercial bank financing. Companies receive a dollar-for-dollar, non-refundable Ohio commercial activity tax credit for principal and interest payments made during the year up to $150,000 during the loan term.
The 166 Direct Loan provides loans for land and building acquisition, construction, expansion, or renovation, and equipment purchases for eligible businesses. The program provides low-interest loans up to 40 percent not to exceed $1.5 million.
The Ohio Enterprise Bond Fund provides 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 between 7 to 10 years for equipment and 15 to 20 years for real estate. Up to $10 million in financing is available through the program.
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 assist existing Ohio companies in developing next-generation products and services within the state's Industry Sectors up to 75 percent ranging from $500,000 to $1.5 million.
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.
The Research and Development Investment Tax Credit provides a non-refundable tax credit up to seven percent for qualified research and development expenses. Qualifying expenses fit into two categories: in-house research expenses, and contracted research expenses. Any unused portion of a tax credit may be carried forward for up to seven years.