Job Creation Tax Incentive
The Job Creation Incentive Program (JCIP) is a local business incentive designed to boost development inside the corporation limits of the participating communities. The program offers a tax credit redirecting a portion of the local municipal income tax back to companies that create jobs. The City of Kenton now offers this incentive for new and existing businesses within its city limits.
Revolving Loan Fund
Designed to encourage new business startups and expansion efforts, the Revolving Loan Fund (RLF) allows a business to receive a portion of their project funding in the form of a low interest loan. In conjunction with a financial institution, the amount of the RLF loan is based upon how many new jobs the project will bring into Hardin County.
Enterprise Zone Program
Designed to encourage manufacturing and industrial development, the Enterprise Zone is a program that forgoes a negotiated percentage of taxes for the real and personal property that is involved in the expansion. The enterprise zone law in the State of Ohio allows tax abatement's of up to 75 percent for ten years for enterprises locating or expanding in cities and villages and 60 percent for those locating in unincorporated areas (without school board approval). Currently there are three designated enterprise zones located in Kenton, Ada and Forest, Ohio.
Kenton's Historic Courthouse District Loan Program
This program encourages and facilitates redevelopment within the Kenton’s Historic Courthouse District. This purpose will be accomplished by providing easy to access, low cost loan funds to qualified property owners or business tenants who wish to make investments in the structure/appearance of buildings/properties they own or occupy. The goal is to stimulate property owner interest, inward business migration, storefront appearance enhancement, and overall economic growth for Hardin County. Contact Jacqualine Fitzgerald, Community Development Director at 419-673-4131 to obtain more details.
Foreign Trade Zone #151
Hardin County has the opportunity to be an extension of the Foreign Trade Zone in Findlay, Ohio (#151). It provides users with the opportunity to lower costs and boost profits. It can improve cash flow by delaying, reducing, or eliminating duties.
Workforce Investment Act (OJT)
On the Job Training (OJT) is a federally funded program that assists employers with hiring and training for long-term employment. This is an opportunity for employers to recruit, pre-screen, hire new employees, and train them. The employer is reimbursed for the cost of training per hire, as funding sources remain available.
Toledo-Lucas County Port Authority Funding Programs:
Toledo-Lucas County Port Authority has developed a national reputation for innovative business financing, assisting over 340 economic development projects representing a total investment of more than $1.9 billion while helping to create and retain nearly 18,500 jobs.
Financing Programs Include:
• Fixed Interest Rate Revenue Bonds
• Off-Balance Sheet Transactions
• Infrastructure Financing
• Conduit Revenue Bonds
• Ohio 166 Regional Loan Program
• Small Business Administration 504 Loan Program
• Brownfield Redevelopment Programs
Small Business Development Center
The Region 3 Ohio Small Business Development Center (SBDC) at Rhodes State College is a public-private partnership supported by the US Small Business Administration, the Ohio Department of Development, Rhodes State College and other local partners. Through its programs and services, the Center provides entrepreneurial development assistance, training and business consulting to start-up and emerging business owners. The Center's services are offered at no cost to the client and all services are provided on a non-discriminatory basis.
JobsOhio Economic Incentive Programs
Ohio's competitive and profitable business environment makes it easier for companies to form, relocate, or expand in Ohio with solid financial footing. Ohio’s strategic location and pro-business climate bring together a full range of benefits that align with the financial needs of growing businesses. Visit their website to see the various programs available.