Tax Increment Financing (TIF) is an economic development mechanism available to local governments in Ohio to finance public infrastructure improvements and, in certain circumstances, residential rehabilitation. A TIF works by locking in the taxable worth of real property at the
Enterprise Zones are designated areas of land in which businesses can receive tax incentives in the form of tax exemptions on eligible new investments. Enterprise Zones are not part of the traditional zoning program — which limits the use of
Community Reinvestment Areas are areas of land in which property owners can receive tax incentives for investing in real property improvements. The Community Reinvestment Area (CRA) Program is a direct incentive tax exemption program benefiting property owners who renovate existing
State and local sales taxes are exempted on certain types of purchases, including machinery and equipment used in the manufacturing process; material handling equipment used in the warehousing of inventory that is primarily (51 percent or greater) distributed to retail
The Job Retention Tax Credit is a non-refundable Ohio Corporate franchise (income) tax available to companies retaining at least 1,000 full-time jobs in Ohio. Companies must also commit to new fixed-asset investment of either $100 million, if the average wages
The Job Creation Tax credit is a refundable Ohio corporate franchise (income) tax available to Companies creating at least 25 new full-time jobs (within 3 years) in Ohio. The credit may also be available for certain high-wage industries creating 10
The R&D investment Tax Credit is a non-refundable Ohio corporate franchise (income) tax credit for all investments in qualified research expenses incurred in Ohio by eligible “C” corporations. Qualified research expenses are based on Section 41 definitions in the U.S.