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.

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What help is available, and who to call

Fairfield County businesses can access four kinds of help: grants for workforce training and entrepreneurial support, low-interest loans through the county Revolving Loan Fund and state and federal programs, property tax abatement through Enterprise Zones and Community Reinvestment Areas, and free technical assistance from the SBA, Ohio SBDC and local chambers.

You do not have to work out which program fits. Call 740-652-7160 or email rick.szabrak@fairfieldcountyohio.gov and the Economic Development team will point you to the right program and agency.

The three programs most businesses ask about

Revolving Loan Fund
Low-interest gap financing at 0–6%, terms up to 20 years for real estate, $250 application fee. Open to for-profit and non-profit businesses under 200 employees, startups included. One full-time job created or retained per $25,000 borrowed. RLF details and application
Workforce Training Grant
Reimbursement toward the cost of training new or current employees, paid over a set number of years, for employers attracting or retaining county jobs. Overview · Application
Property tax abatement
Enterprise Zone abatement of 60–100% on real property for qualifying projects. Pre-1994 Community Reinvestment Areas at Rockmill Industrial Park and Canal Pointe offer 100% abatement for 15 years on improvements of at least $250,000. Port Authority programs

County grants

Entrepreneurial Support Grant

The Entrepreneurial Support Grant provides funding for organizations that help entrepreneurs start or grow their business. This can be provided at any time for qualifying organizations and pending a review of the applicant.

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.

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

EDA RLF & CDBG RLF

Overview of EDA RLF & CDBG RLF covering the eligibility and financing terms with application.

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.

Regional 166 Direct Loan Program

Promotes economic development, business expansion and job creation by providing financial assistance for allowable costs of eligible projects in the State of Ohio.

TechColumbus

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.

State programs

Ohio Development Services Agency

The Ohio Enterprise Bond Fund (OEBF)

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.

The Ohio International Market Access Grant for Exporters (IMAGE)

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.

Volume Cap

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.

Regional 166 Direct Loan Program

Promotes economic development, business expansion and job creation by providing financial assistance for allowable costs of eligible projects in the State of Ohio.

Local Government Innovation Fund (LGIF)

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.

Innovation Ohio Loan Fund (IOF Loan)

Promotes assistance to existing Ohio companies in developing next generation products and services within certain Targeted Industry Sectors.

GrowNOW

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.

Federal programs

SBA

Counseling, mentoring and training from an SBA District Office, SCORE Chapter, Small Biz Development Center or Women’s Biz Center in your area.

USDA Rural Development

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.

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.

Federal tax incentives

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

An economic development tool administered by municipal and county governments that provides real and personal property tax exemptions to businesses making investments in Ohio.

Community Reinvestment Area

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.

State

Ohio Research and Development Investment Tax Credit

Authorized within Section 5751.51 of the Ohio Revised Code, a nonrefundable credit against the Commercial Activity Tax (CAT).

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.

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.

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.

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.

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

Business assistance programs and advocacy

Women in business