The Office of Economic Development works directly with business executives and site location consultants to identify structure projects for companies interested in expanding or locating in the City of Dayton. The incentives are offered 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 incentives provide an example of some programs for which your business may qualify. Please contact a Development Specialist today at 937-333-3634 to find out how to make these programs work for you.
Enterprise Zones
Enterprise Zones provide substantial tax reductions on new construction or building additions in designated areas of Dayton. To be eligible, businesses must agree to retain or create employment and establish, renovate, or occupy a facility located in an Enterprise Zone. Qualifying businesses can receive up to 75 percent exemption in incorporated areas and up to 60 percent in unincorporated areas on real property improvements or tangible personal property tax valuation for up to 10 years.
Ohio Manufacturing Machinery and Equipment Investment Tax Credit
The Ohio Manufacturing Machinery and Equipment Investment Tax Credit provides substantial state franchise or income tax reductions for manufacturers that purchases qualified new or retooled machinery and equipment that is located in Ohio and used in manufacturing. The eligible new investment must exceed the company's annual average investment in machinery and equipment.
Ohio Job Creation Tax Credit
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.
Ohio Investment in Training Program
The Ohio Investment in Training Program provides financial assistance and technical resources for customized training involving employees of new and expanding Ohio businesses. The program focuses on manufacturing and selected employment sectors. To be eligible, companies must have significant training and capital investment related to creating and retaining jobs.
SBA 504 Loan Program
This program offers a low down payment on long-term financing at a below-market, fixed interest rate. Possibilities with this loan include real estate acquisition, new construction, renovation of existing buildings, machinery and equipment acquisition, and project-related soft costs.
CityWide Direct Loan Program
This program offers a gap financing with a low down payment at a below-market interest rate. Possibilities with this loan include real estate acquisition, new construction, renovation of existing buildings, new and/or used machinery and equipment acquisition, and working capital. For more information, contact CityWide Development Corporation.
Foreign Trade Zone
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 Trust Fund
The West Dayton Development Trust 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.
Well Field Protection Fund Loan Program
The Well Field Protection Fund Loan Program provides 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.
For more information on these or other opportunities call 937-333-3634.