is a refundable tax credit to companies generally creating at least 10 new jobs (within three years) with a minimum annual payroll of $660,000 that pay at least 150 percent of the federal minimum wage. The tax credit is measured as a percentage of the state income tax withholdings for all new employees hired under the program, and is applied toward the company’s commercial activity tax liability. Should the amount of the credit exceed the company’s commercial activity tax liability for any given year, the difference is refunded. A business must apply for the credit before committing to the project. Applicants must be approved through the Ohio Tax Credit Authority before hiring begins. Visit the
The Technology Investment Tax Credit program offers a variety of benefits to Ohio taxpayers who invest in small, research and development, and technology-oriented firms. Through this innovative program, Ohio investors may reduce their state taxes by 25 percent on the amount they invest in qualified, technology-based Ohio companies. Both the companies and their investors must meet several requirements specified by Ohio law in order to be considered for the Technology Investment Tax Credit program. For more information click
here.
The Ohio Enterprise Zone Program provides real property tax incentives for businesses that expand or relocate in Ohio. To establish an Enterprise Zone, a municipality or county must apply to the Director of Development for certification. To secure benefits, businesses must apply to the local community. Certain qualifying
businesses may be eligible for additional benefits. Visit the
Ohio Development Services Agency website for more information. For a map of Wyandot County's Enterprise Zones
click here.
Community Reinvestment Areas provide companies locating in a designated Community Reinvestment Area an exemption of up to 100 percent of improvement value for up to for 15 years on real property taxes. To be eligible, a company must make an agreement with the local community prior to going forward with the qualifying project. Visit the
Ohio Development Services Agency website for more information.
The Ohio Historic Preservation Tax Credit Program provides a tax credit to building owners of historically significant buildings for rehabilitation. Applicants are selected in a competitive process. The tax credit subsidy is 25 percent of qualified rehabilitation expenditures, not to exceed $5 million. Qualified rehabilitation expenditures are hard construction costs that meet the requirements of the U.S. Secretary of Interior’s standards for rehabilitation of historic properties. The tax credit can be applied to an applicable dealer in tangible, corporate franchise, or state income taxes. Visit the
Ohio Development Services Agency website for more information.
The Ohio New Markets Tax Credit Program will help finance business or real estate investments in low-income communities by providing investors with state tax credits in exchange for delivering belowmarket -rate investment options to Ohio businesses, sparking revitalization in Ohio’s low-income communities. Visit the
Ohio Development Services Agency website for more information.
The Ohio Motion Picture Tax Credit provides a refundable credit against the corporation franchise or income tax for various Ohio productions. The tax credit is available to applicants making eligible productions as certified by the Director of Development. The tax credit is equal to 25 percent of non-wage and nonresident wage
Ohio production expenditures and 35 percent of Ohio resident wage production expenditures. Visit the
Ohio Film Office website for more information.
Ohio Development Services Agency contact information can be found
here.