Rick Szabrak
The Fairfield Advantage
FAIRFIELD COUNTY, OHIO
Fairfield County Economic Development, Lancaster, Ohio.
Rick Szabrak, Director
Email: rmszabrak@co.fairfield.oh.us
P: 740-652-7162
Contact Information:

Fairfield County
Economic Development
210 East Main Street, Room 407
Lancaster, Ohio 43130
P: 740-652-7160
Follow Us on Twitter
Fairfield 33
certified Fairfield 33
Columbus 2020
Economic Development: Incentives & Assistance
Fairfield County
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


FINANCING
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.

LOCAL FINANCING

• Overview of EDA RLF & CDBG RLF covering the eligibility and financing
   terms with application
   Read More: Revolving Loan Fund

REGIONAL FINANCING
• 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 Ohio’s 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

STATE PROGRAMS
• 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
   Ohio.
   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 Ohio’s economic development
   by supporting the small businesses that drive it.
   Read More: Grow Now

FEDERAL PROGRAM
• SBA Counseling, mentoring and training from an SBA District Office,
   SCORE Chapter, Small Biz Development Center or Women’s  Biz Center
   in your area.
   Read More: US Small Business Administration
• 7(a) Loan Program, SBA’s 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 Administration’s 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
   lenders.
   Read More: Grant & Guaranteed Loan Program
• Renewable Energy & Energy Efficiency Program
• Federal Programs: Incentives for Small Business

TAX CREDITS
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.

LOCAL
• 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

STATE
• 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

TRAINING
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.

• OhioMeansJobs
  
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
• Training Providers
• Fairfield County Workforce Development Training Grant

BUSINESS ASSISTANCE
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
• TechStart

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
 
 
 
 
Columbus 2020
Fairfield Development Alliance
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Contact Information:

Fairfield County
Economic Development
210 East Main Street, Room 407
Lancaster, Ohio 43130
P: 740-652-7160
Follow Us on Twitter
Rick Szabrak, Director
Email: rmszabrak@co.fairfield.oh.us
P: 740-652-7162