Financial Incentives

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Grants

Ohio Investment in Training Program (OITP)

The Ohio Investment in Training Program (OITP) provides grants for training expenses directly to Ohio companies when companies make investments, which result in the creation or retention of jobs. OITP generally focuses on manufacturing companies, but also provides training funding and support for non-manufacturing companies such as distribution, information technology, and financial service operations which could otherwise be located outside of Ohio. OITP provides reimbursement for up to 50% of eligible training costs of a defined training program. Eligible training costs include payments for instructor costs, training materials, travel and other related training expenses with matching funds being provided by the participating company.

Roadwork Development (629)

The Roadwork Development (629) Account grant funds are available for public roadway improvements, including engineering and design costs. This fund is available for projects primarily involving manufacturing, R&D, high technology, corporate headquarters, and distribution activity. Projects must typically create or retain jobs. Grants are usually provided to the local jurisdiction and require local participation.

Rapid Outreach Grant

 The Rapid Outreach Grant funds are for on- or off-site infrastructure improvements, including water, sewer, road, and rail improvements. This fund is for companies primarily engaged in manufacturing, research and development, high technology, corporate headquarters, and distribution. Given the demand for limited grant funds, qualified projects must involve substantial job creation or retention, and all other public and private sources of financing must be considered before the availability of Rapid Outreach funding is determined.

Financing

166 Direct Loan & SBA 504

166 Direct Loan and SBA 504 financing is available to help finance manufacturing facilities, with eligible uses for funding including new building construction, building acquisition, and acquisition of machinery and equipment. Amounts of financing are usually set at 30 percent of the project cost to a maximum of $1 million, subject to an increase by the Director of Development, with a minimum loan amount of $350,000. The rate is fixed (currently at 3 percent), with terms similar to those of commercial bank financing. Eligible projects must involve significant job creation or retention.

Ohio Enterprise Bond Fund

The Ohio Enterprise Bond Fund (OEBF), rated AA- by Standard & Poor's, allows large and small credit worthy, but unrated businesses access to the national capital markets. Through the OEBF, the Ohio Department of Development (ODOD) issues bonds, the proceeds of which are provided to businesses for eligible projects in the form of a loan. The OEBF was created to provide long-term, fixed-rate, one-stop project financing for qualifying businesses that create or retain jobs in the state of Ohio. The OEBF enables large and small creditworthy businesses access to capital at costs comparable to those of rated multi-national corporations. Eligible businesses include those engaged in, but not limited to, manufacturing, research and development and distribution. Retail projects are ineligible for the OEBF

Warren County also offers a variety of financial incentives to help Create Success for your business.  In addition, the Ohio Department of Development  offers some additional details on a number of meaningful, targeted incentives to attract, create, grow, and retain businesses.