Expanding Horizons The Office of Economic Development works with businesses and site consultants to identify and structure projects for companies interested in expanding or locating in the City of Dayton. State and local incentive programs are available for qualified projects. Please contact the Office of Economic Development today at (937) 333-3634 to find out how to make these programs work for you.
Personal Touch Our staff meets with hundreds of companies every year. The incentives described below are based on many factors including, but not limited to the company's commitment to the community, the magnitude of business operations, and the scope of its industry. The following information describes some of the most common programs for which your business may qualify.
Dayton Economic Attraction Program (DEAP)
The new Dayton Economic Attraction Program offers annual grants up to three years, equal to of 75 percent of net payroll withholdings for new downtown businesses that hire at least 5 employees and meet certain qualifications. Qualified companies that move to Dayton and operate in one of the targeted industries would receive a 50 percent annual rebate on their net new payroll withholdings. The targeted industries include: Advanced Manufacturing & Materials; Data Management, Sensors & RFID Technology; Aerospace and Aerospace Medical Research; and Regional Healthcare Services.
Dayton Development Fund
The City of Dayton can provide a development fund grant to assist companies with "gap" financing for an otherwise fully-funded project. The Development Fund is typically used for significant capital investment projects that will generate new investment and create jobs in Dayton. The grant will help reduce the amount of equity that a business will need to start their expansion project. This program has helped to leverage millions of dollars in new investment and create hundreds of jobs.
Enterprise Zone (EZ) Property Tax Abatement
Enterprise Zones provide substantial tax reductions to businesses for new construction or large building additions in designated areas of Dayton. To be eligible, businesses must agree to retain or create employment and occupy a facility located in an Enterprise Zone. Qualifying businesses can receive up to 75 percent exemption on real property improvements for up to 10 years.
Downtown Façade Improvement Program
The purpose of the Downtown Façade Improvement Program is to enhance the built environment and facilitate redevelopment. Funded and administered by the City, the program will add vibrancy to the downtown environment by improving the aesthetics and conditions of downtown buildings in the targeted area.
SBA 504 Loan Program & CityWide Direct Loan Program
These programs offers long-term financing at a below-market rate. Possibilities with these loans include real estate acquisition, new construction, renovation of existing buildings, machinery and equipment acquisition, and project-related soft costs. For more information, contact CityWide Development Corporation.
Well Field Protection Fund Loan Program
The Well Field Protection Fund Loan Program provides businesses with funds for groundwater-friendly projects within designated Well Field areas. Funds are made available to public or private entities and provide low and 0% interest loan programs for up to 100% of total eligible project costs for real estate, equipment, new construction, renovation, and working capital.
The City of Dayton's HUB Zone provides contracting preferences to small businesses seeking Federal contracting opportunities. These preferences go to small businesses that obtain HUB Zone certification in part by employing staff who live in a HUB Zone. The company must also maintain a "principal office" in one of the specially designated HUB Zone areas. Approximately 20 Dayton companies are certified HUB Zone businesses.
Ohio Job Creation Tax Credit (JCTC)
The Ohio Job Creation Tax Credit provides corporate franchise or state income tax credit for businesses that expand or locate in Ohio. Eligibility is based on the number of new, full-time jobs created through the company's operations. Companies must be able to create at least $660,000 in new payroll over three years.
Ohio Workforce Guarantee Program (OWG)
The Ohio Workforce Guarantee Program supports companies making investments in facilities, equipment and training that result in the retention and creation of jobs for Ohioans. The OWG pays for a portion of instructor salaries, materials, travel and special needs. Most types of training associated with an investment project are eligible.
Foreign Trade Zone (FTZ)
The City of Dayton's Foreign Trade Zone offers many benefits to companies involved with importing and exporting. Companies operating in a Foreign Trade Zone pay no duties or quota charges on re-exports. Additionally, customs duties and federal excise taxes are deferred on imports. Furthermore, foreign goods and domestic goods held for export are exempt from state/local inventory. Contact our office to learn about additional benefits of this program.
West Dayton Development Fund (WDDF)
The West Dayton Development Fund provides funding for community and economic development projects that benefit designated areas within the City of Dayton - the Innerwest and Southwest Priority Board areas. Eligible projects must result in minority business development, business expansion, or new employment opportunities. This program is designed to provide jobs, direct services to the residents in the area, or physically improve the property in the area. This funds are generated from landfill fees paid to the City.
For more information on these or other opportunities, contact us at (937) 333-3634.