The City of Dayton has worked closely with the local business community to create an aggressive new business incentive program designed to stimulate new job growth in the city.
The Dayton Economic Attraction Program (DEAP) offers annual grants for three years, for up to 75 percent of new payroll withholding taxes for businesses that choose to locate in the city.
Companies located downtown would receive an annual grant for three years, equal to 75 percent of the net new payroll withholding taxes for jobs they create in a calendar year. Companies located anywhere within the city limits but operating in one of City's targeted cluster groups would receive a 50 percent annual grant for three years on their net new payroll withholding taxes. The cluster groups are: Advanced Manufacturing & Materials; Data Management; Sensors & RFID Technology; Aerospace and Aerospace Medical Research; and Regional Healthcare Services.
Companies must create a minimum of five net new jobs or add at least $200,000 to their annual payroll to be eligible for the rebates.
Eligibility Requirements for the DEAP Program:
- Participating companies must either be located downtown or be in one of the targeted cluster groups noted above. (Downtown is defined as the Central Business District plus the Webster Station and Mid-Town Planning Districts for this program.)
- Companies must commit to create at least five new full-time jobs or add at least $200,000 to its payroll in a given year.
- Newly created jobs must meet the City’s Living Wage requirements.
- Eligible businesses must have been in operation at least three years before applying.
- Companies must be current with taxes, utilities, permits, codes, etc.
Companies interested in participating in the program should review the more specific program guidelines and submit an application form.
For more information about DEAP and other incentive programs, contact the City of Dayton’s Office of Economic Development at (937) 333-3634.