Incentive Programs

Information about these programs is provided by the Ohio Department of Development.

Ohio Enterprise Zone Program
Ohio Enterprise Zone Program offers businesses that invest significant dollars in real property the ability to apply for an Enterprise Zone Agreement. Qualifying applicants may be approved for up to 100% in tax exemption for up to 15 years 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.

There are four possible eligibility determinations. For a project to be considered for Enterprise Zone benefits, it must meet one of the following four definitions: other than inventory at a location where the business had not previously operated. except inventory, to a facility that equal at least ten percent of market value of the facility prior to such expenditures, as determined for the purposes of local property taxation."

1. Establish: means the creation of a facility that is determined to the satisfaction of the Director to entail significant investment in real and/or personal property
2. Expand: ORC Section 5709.61 (E) "means to make expenditures to add land, buildings, machinery, equipment, or other materials,
3. Renovate: ORC Section 5709.61 (F) "means to make expenditures to alter or repair a facility that equal at least fifty percent of the market value of the facility prior to such expenditures, as determined for the purposes of local property taxation."
4. Occupy: ORC Section 5709.61 (G) "means to make expenditures to alter or repair a vacant facility equal to at least twenty percent of the market value of the facility prior to such expenditures, as determined for the purposes of local property taxation."

The Ohio Job Creation Tax Credit Program was established in 1993. The program provides a refundable tax credit against a company's corporate franchise or income tax based on the state income tax withheld from new, full-time employees. The Ohio Tax Credit Authority (Authority), a five-member independent board consisting of taxation and economic development professionals from throughout the state, is responsible for reviewing and approving applications for tax credit assistance and setting the benefit level. The Authority also has oversight responsibilities that include monitoring and reporting the progress of approved tax credit projects.

Commercial Energy Efficiency Incentives
Business owners are eligible for a variety of federal tax incentives for improving building energy efficiency, implementing combined heat and power (CHP) systems, purchasing hybrid gasoline-electric vehicles, and installing onsite renewable generation, fuel cells, and microturbines.  For details see the federal Commercial Energy Efficiency Tax Incentives page.

Complete List of Tax Incentives in Ohio
Three years ago, Ohio’s business and elected leaders joined hands to collaborate on the most sweeping tax reform in our state’s history. The vision was simple but compelling, “overhaul the tax code so Ohio companies could become more competitive globally, invest more in our state and, thereby, fuel our economic growth. To view a complete list of the state’s tax incentive programs please click the image on the right or contact Eric Romich with the Wyandot County Office of Economic Development.