Enterprise Zone Program
Community Reinvestment Area
Tax Increment Financing
Defiance County Infrastructure Revolving Loan Fund Program
Defiance County Business Development Fund Revolving Loan Fund
City of Defiance Job Creation Incentive Program
Training Cost Assistance
Hicksville, Ohio Job Creation Incentive Program
Hicksville Land for Jobs Program
Sherwood job creation, retention and investment program (JCRIP)
Enterprise Zone Program - Businesses that invest significant dollars in real property may apply for an Enterprise Zone Agreement. Qualifying applicants may be approved for up to 100% in tax abatements with the local school district's consent. The Board of County Commissioners must approve the Enterprise Zone Agreement before construction of real property occurs. As of July 1, 2005, all new personal property assets and inventory to the State of Ohio are automatically exempted from property taxes. All businesses located in Defiance County, besides Adams Township, are located in an Enterprise Zone.
Community Reinvestment Area - Community Reinvestment Areas are areas within the City of Defiance and the Village of Sherwood that were established with the intent to encourage investment in real property through remodeling or new construction. Investment in these designated areas are 100% tax exempt for terms of 7 to 10 years depending on what type of building was constructed or remodeled. Residential and business structures are both eligible for the Community Reinvestment Area Program.
To pick up an application, contact:
Defiance County Economic Development
Tax Increment Financing - The Tax Increment Financing (TIF) program permits Service Payments-in-Lieu of real property taxes to be used to finance public infrastructure improvements directly supporting an improvement project declared to have a "public purpose." Defiance County offers up to 75% exemption of real property taxed for up to 10 years. However, an annual service Payment-in-Lieu of taxes is required. The Payment-in-Lieu of taxes cannot exceed the annual debt services of the notes or bonds used to finance the specified public infrastructure improvements. The rate and term of the TIFs can be extended up to 100% for up to 30 years with local school board approval. The Defiance County Board of Commissioners must approve the TIF contract.
Defiance County Infrastructure Revolving Loan Fund Program - Low cost loans to assist with needed public infrastructure. This program is available for industrial or distribution projects. This program can be combined with several state programs to fund infrastructure needs.
Defiance County Business Development Fund Revolving Loan Fund - This loan program provides low interest loans for financing of early stage business development costs. Examples of these development items include: environmental surveys, business plans, and engineering studies.
City of Defiance Job Creation Incentive Program - The City of Defiance Job Creation Incentive Program provides a redirection incentive on new payroll tax based on the income tax rate of 1.8%, the number of jobs created, and the length of the term. The company must pay wages 175% of the minimum wage. Eligibility is determined by creating $250,000 of new payroll and/or 10 new jobs.
Training Cost Assistance – Certain training costs associated with the hiring of new employees qualify for partial reimbursement through the Defiance County Department of Job & Family Services. Contact our office for more information.
The Hicksville, Ohio Job Creation Incentive Program provides up to 50% of new payroll tax based on the income tax rate of 1.5%, the number of jobs created, and the length of the term. The company must pay wages 175% of the minimum wage. Eligibility is determined by creating $200,000 of new payroll and/or 10 new jobs. The incentive percentage and term is negotiable with the creation of 50 jobs or more.
The Hicksville Land for Jobs Program provides free acreage in a shovel-ready industrial part to companies that create 20 or more jobs. This land is valued at nearly $20,000 per acre and features installed natural gas, electric, water and sewer infrastructure.
The Sherwood job creation, retention and investment program (JCRIP) is a local business incentive designed to boost development inside the village's corporation limits. The program grants tax credits against local income taxes to companies that create jobs in Sherwood. The incentive program is administered by the Defiance County Community Improvement Corporation (CIC).
Ohio's Innovation Ohio Fund - The Innovation Ohio Fund was created to assist existing Ohio companies that develop next generation products and technologies. Financing is made available for the acquisition, construction, and related costs of technologies, facilities, and equipment. This program can finance up to 75% of the project's allowable costs to a maximum of $5 million and minimum of $250,000.
Ohio Enterprise Bond Fund - Provides funding for land and building acquisition, construction, expansion or renovation, and equipment for commercial or industrial projects between $1.5 million and $10 million in size. The bond fund would provide a fixed rate for up to 20 years.
166 Direct Loan - This loan program provides loans for land and building acquisition, expansion or renovation, and equipment purchase. The rate of the loan can be fixed at two-thirds of prime rate for a term of 5 to 15 years. The company must create or retain 1 job for every $15,000 received.
166 Regional Loan - This loan program provides loans for land and building acquisition, expansion or renovation, and equipment purchases. The Toledo-Lucas County Port Authority administers this program. The rate of the loan is negotiable for a term of 5 to 15 years. The company must create or retain 1 job for every $35,000 received.
Minority Direct Loan - This loan program provides loans for the purchase or improvement of fixed assets for state certified minority-owned businesses. Financing can be provided for up to 40% of total project cost at a 4.5% fixed rate for up to 15 years. The company must be at least 51% minority owned and controlled and must be a state-certified minority business. The company also must create one job for every $35,000 received.
Ohio's Reformed Tax Structure – Ohio's tax structure was reformed and became effective July 2005. Discover the recent changes that will affect Ohio businesses and how Ohio's tax structure compares to surrounding states.
Locate other Financing Programs provided by the State of Ohio.
Ohio Investment in Training Program (OITP) – The OITP provides grants directly to Ohio companies making investments that result in job creation or retention. Funding for the program is through the State of Ohio and is formula based dependent on average hourly wage and number of employees. The company must provide 50% matching funds. OITP generally focuses on manufacturing companies, but also provides training funds and support for non-manufacturing companies. Eligible companies must pay wages 150% or more of the federal minimum wage.
Workforce Guarantee Program – The Workforce Guarantee Program provides funds to employers in targeted industry sectors who are creating 20 or more new job positions with qualified entry level and incumbent workers. Preference will be given to the following targeted industries: Logistics, Information Technology, Advanced Manufacturing, Bioscience, Advanced Energy, Agriculture/Agribusiness, and Healthcare. Eligibility will be determined based on a competitive selection process and the ability of the applicant to meet specified project criteria. Projects will be funded up to $750,000. Training, regardless of provider, must result in college credit or an industry-recognized portable credential or nationally recognized certification.
Incumbent Workforce Training Program – The Incumbent Workforce Training Program assists Ohio businesses in remaining competitive and increasing investment in incumbent worker training, retaining employees, advancing wages over time, and acquiring generally recognized credentials to document skill gains. Grants will be up to $1,000 per employee trained and capped at $200,000 per business or trainer based on the actual cost of training. The company must provide 50% matching funds. 25% of the funding in each fiscal year will be reserved for businesses engaged in activities other than manufacturing and with fewer than 500 employees.