Wayne County Economic Development Council

Why Choose Wayne County? Call Us Toll Free at 888-WAYNEOH
 

Strong Incentives
Tax credits, abatements, grants, low-cost financing Foreign Trade Zone and more.

Business-Friendly Climate
Effective community and government partnerships locally and throughout Northeast Ohio.

Access to Markets
Central location with great ground, rail, water and air accessibility.

High Quality of Life
Small town hospitality and country living with big city opportunities.

Leading Ag-Bioscience Infrastructure
Premier research facilities and infrastructure.

Low Cost of Doing Business

Energy, labor and occupancy costs among the nation’s most affordable.

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Incentives for Land & Equipment

Sub. H.B. 18:
This Act authorizes a $500 per employee grant to for-profit employers that lease or purchase vacant commercial space, increase payroll by hiring new full-time emplyees, and employ 50% of the employer's Ohio employees at that space.
For more details, click here.

Enterprise Zones

Communities in Ohio may establish an Enterprise Zone that provides local officials with the ability to negotiate a tax incentive agreement with a prospective company. The Enterprise Zone Agreement is a contract between the community and the company. 

This contract must be executed prior to any portion of the project beginning. 
The amount and term of the tax exemption are negotiated between local officials and the company. The Enterprise Zone law permits municipalities to offer the following incentives:

1) Exemption of real and/or personal property assessed values of up to 75% for up to 10 years or an average of 60% over the term of the agreement on new investments.

2) The Enterprise Zone law permits unincorporated areas to offer e
xemption of real and/or personal property assessed values of up to 60% for up to 10 years or an average of 50% over the term of the agreement on new investments.

Maximum exemption levels may be exceeded with approval by the affected board of edu
cation.

Community Reinvestment Areas
Community Reinvestment Areas (CRA) are areas of land in which property owners can receive tax incentives for investing in real property improvements. The CRA Program is a direct incentive tax exemption program benefiting property owners who renovate existing or construct new buildings.

The local legislative authority with jurisdiction over the designated area determines the size, the number, as well as the term and extent of the real property exemptions.

Local municipalities or counties can determine the type of development to be supported by the CRA Program by specifying the eligibility of residential, commercial and/or industrial projects.

CRA Programs Benefits

Post July 1, 1995 CRA

Exemption Levels

Real Property

Up to 100%

Personal Property

None

Inventory

None

Term Exemptions

Residential Remodeling (2 units or less; minimum $2500)

Up to 10 years as specified in the legislation that creates the CRA

Residential Remodeling (more than 2 units; minimum $5000)

Up to 12 years as specified in the legislation that creates the CRA

Residential New Construction

Up to 15 years as specified in the legislation that creates the CRA

Commercial and Industrial Remodeling (minimum $5000)

Up to 10 years as specified in the legislation that creates the CRA

Commercial and Industrial New Construction

Up to 15 years as negotiated and approved in an CRA Agreement

Source: ODOD Tax Incentives in Ohio

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