The Fairfield Advantage
FAIRFIELD COUNTY, OHIO
Fairfield County Economic Development, Lancaster, Ohio.
210 East Main Street, Room 407
Lancaster, Ohio 43130
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Economic Development: Incentives & Assistance
Navigating through various financing options, development incentives and business assistance programs can be difficult. Fairfield County Economic Development is ready to explain local, regional, state and federal financing and incentive programs, as well as to link your business to the best agency or organization to help it grow.
LOCAL WORKFORCE GRANT
The Fairfield County Workforce Development Training Grant is designed to help attract and retain county jobs by offering training grants for eligible employers
Read More: Fairfield County Workforce Development Training Grant
A variety of low-interest loan and financing programs are available for growing companies. Each program has different guidelines and eligibility requirements but most are closely linked to job creation or job retention.
Overview of EDA RLF & CDBG RLF covering the eligibility and financing
terms with application
Read More: Revolving Loan Fund
Microloan Rates & Financial Details Disclosure Information
The Economic and Community Development Institute helps businesses
start and expand by combining business training and technical assistance
with necessary capital. The Institute's Small Business Loan program
provides loans up to $100,000 to new and existing businesses that do
not qualify for conventional bank loans.
Read More: ECDI Micro Loan Assistance
Regional 166 Direct Loan Program (Regional 166 Direct Loan)
promotes economic development, business expansion and job
creation by providing financial assistance for allowable costs of eligible
projects in the State of Ohio.
Read More: Ohio Regional 166 Loan
TechColumbus gives entrepreneurs access to the tools and advice to
launch and grow their companies. We focus on industries that reflect
Central Ohios strengths: information technology, biosciences, and
advanced materials. Our knowledge-based and financial resources
put entrepreneurs on a faster track, improving the business' success.
Read More: TechStart
Ohio Development Services Agency
Read More: Ohio Department of Development
The Ohio Enterprise Bond Fund (OEBF) was created in 1988 to promote
economic development, create and retain quality jobs and assist
governmental operations. The program enables non-profit and for-profit
borrowers to access the national capital markets through bonds issued
through OEBF. The program is administered by the Ohio Department
of Development and financing is provided by the Ohio Treasurer of State.
Read More: Ohio Enterprise Bond Fund
The Ohio International Market Access Grant for Exporters (IMAGE) is a
50 percent reimbursement program designed to offset the costs
associated with certain exporting initiatives. IMAGE is funded by the
State of Ohio and the United States Small Business Administration as
part of the National Export Initiative to double U.S. exports by 2015.
The purpose of IMAGE is to increase exports and create jobs in Ohio
by helping small businesses expand into new international markets.
Read More:Ohio International Market Access Grant for Exporters (IMAGE)
Volume Cap is federally authorized and refers to the maximum amount of
tax-exempt private activity bonds that can be issued annually in each state.
Annually, each state receives an allocation of Volume Cap that is referred
to as the "state ceiling." This ceiling is based upon an IRS Inflation
Adjustment and IRS Calendar Year Resident Population Estimates.
Read More: Volume Cap Program
Regional 166 Direct Loan Program (Regional 166 Direct Loan) promotes
economic development, business expansion and job creation by providing
financial assistance for allowable costs of eligible projects in the State of
Read More: 166 Direct Loan
Local Government Innovation Fund (LGIF) offers communities financial
assistance to create more efficient and effective service delivery within
their area. Projects are expected to facilitate improved business
environments and promote community attraction with their plan for
efficiency, collaboration, or shared services. Communities will be able to
save money and provide more effective services to their constituents with
assistance from this program.
Read More: Local Government Innovation Fund (LGIF)
Innovation Ohio Loan Fund (IOF Loan) promotes assistance to existing
Ohio companies in developing next generation products and services within
certain Targeted Industry Sectors.
Read More: Innovation Ohio Loan Program
GrowNOW is a partnership between eligible banks and the Ohio Treasury.
The program enables small business owners to receive up to a 3% interest
rate reduction on new or existing small business loans for two years with the
opportunity for renewal. Small business owners must commit to the
creation or retention of at least one full-time job or two part-time jobs in
the State of Ohio for every $50,000 borrowed, up to $400,000.
GrowNOW broadly serves as a catalyst for Ohios economic development
by supporting the small businesses that drive it.
Read More: Grow Now
SBA Counseling, mentoring and training from an SBA District Office,
SCORE Chapter, Small Biz Development Center or Womens Biz Center
in your area.
Read More: US Small Business Administration
7(a) Loan Program, SBAs most common loan program, includes financial
help for businesses with special requirements.
Read More: SBA 7(a) Loan Program
CDC/504 Loan Program provides financing for major fixed assets such as
equipment or real estate.
Read More: SBA 504 Loan
Microloan program provides loans up to $50,000 to help small businesses
and certain not-for-profit childcare centers start up and expand. The average
microloan is about $13,000.
Read More: Micro-Loans
Disaster Preparedness and Recovery Plan (DPRP) replaces the Small
Business Administrations Disaster Recovery Plan in its entirety. While the
DPRP represents a new document to meet the requirements of
Presidential Policy Directive (PPD) 8, National Preparedness.
Read More: Disaster Recovery
USDA Rural Development is the leading advocate for rural America.
The mission area supports rural communities and
enhances quality of life for rural residents by improving economic
opportunities, community infrastructure, environmental health, and the
sustainability of agricultural production.
Read More: US Department of Agriculture Rural Development
Business & Industry Guaranteed Loan Program is to improve, develop, or
finance business, industry, and employment and improve the economic
and environmental climate in rural communities. This purpose is achieved
by bolstering the existing private credit structure through the guarantee of
quality loans which will provide lasting community benefits. It is not
intended that the guarantee authority will be used for marginal or
substandard loans or for relief of lenders having such loans.
Read More: Business & Industry Guaranteed Loan
Rural Business Enterprise Grant Program (RBEG) provides grants for rural
projects that finance and facilitate development of small and emerging rural
businesses help fund distance learning networks, and help fund employment
related adult education programs. To assist with business development,
RBEGs may fund a broad array of activities.
Read More: Rural Business Enterprise Grant (RBEG) Program
Rural Economic Development Loan and Grant Program provides
zero-interest loans and grants to Rural Utility Service (RUS) borrowers,
who in turn relend the money as a zero interest loan to local entities to
promote rural economic development and job creation projects.
Read More: Rural Economic Development Loan & Grant
Business Programs, USDA Rural Development provides for business credit
needs in under-served rural areas, often in partnership with private-sector
Read More: Grant & Guaranteed Loan Program
Renewable Energy & Energy Efficiency Program
Federal Programs: Incentives for Small Business
Ohio made major changes to its tax code in 2005, which included the phase-out of tangible personal property tax and a reduction in personal income tax. Programs still exist to further reduce your firm's tax burden through abatements and credits.
Ohio Enterprise Zone Program is an economic development tool
administered by municipal and county governments that provides real and
personal property tax exemptions to businesses making investments in Ohio.
Read More: Ohio Enterprise Zone Program
Community Reinvestment Area program is an economic development tool
administered by municipal and county government that provides real
property tax exemptions for property owners who renovate existing or
construct new buildings.
The program is delineated into two distinct categories, those created prior to
July 1994 ("pre-1994") and those created after.
Read More: Community Reinvestment Area
Ohio Research and Development Investment Tax Credit, which is authorized
within Section 5751.51 of the Ohio Revised Code, is a nonrefundable credit
against the Commercial Activity Tax (CAT).
Read More: Ohio Research and Development Investment Tax Credit
Ohio Job Creation Tax Credit (JCTC) Servicing site provides assistance to
businesses that have previously been approved for a tax credit by the Ohio
Tax Credit Authority (Authority). This site provides information for companies
on the (1) agreement process, (2) amendment process, and (3) annual report
requirements and filings.
Read More: Ohio Job Creation Tax Credit
Ohio Technology Investment Tax Credit (TITC) Technology Investment Tax
Credit program offers a variety of benefits to Ohio taxpayers who invest in
small, research and development, and technology-oriented firms.
Read More: Ohio Technology Investment Tax Credit
Ohio Research and Development Sales Tax Exemption exempts business
from the entire state and county sales tax for purchases of qualified
machinery and equipment used primarily for research and development.
This exemption provides significant savings for companies undertaking
research and development activities in Ohio.
Read More: Ohio Research and Development Sales Tax Exemption
Skilled and productive employees are critical to your company's success. Ohio has programs to help offset the cost of hiring and training new employees or upgrading the skills of your current staff. Companies in Fairfield County can access a number of training providers who customize programs to meet individual company needs.
Employee Recruitment Services and On-the-Job Training Grants
Ohio Department of Development Workforce & Talent Division
Ohio Investment & Training Program and
Ohio Incumbent Worker Training Program
Fairfield County Workforce Development Training Grant
Starting or growing a small business is difficult. You know your business, but not necessarily the programs and agencies that are ready to help. Entrepreneurs and small business owners in Fairfield County can access technical assistance designed to take them to the next level of success.
ENTREPRENEURSHIP AND SMALL BUSINESS ASSISTANCE
U.S .Government Assistance for Exporters
US Small Business Administration
Ohio Small Business One-Stop Permitting Center
Ohio Small Business Development Center with Free Expert Business Advice
BUSINESS ASSISTANCE PROGRAMS and ADVOCACY
Baltimore Chamber of Commerce
Bremen Chamber of Commerce
Canal Winchester Chamber of Commerce
Lancaster-Fairfield Chamber of Commerce
Pickerington Chamber of Commerce
Reynoldsburg Chamber of Commerce
Ohio Chamber of Commerce
Ohio Manufacture's Association
Ohio Manufacturing Institute
WOMEN IN BUSINESS
Professional Resources for Women in Business