Funding & Incentives
Why Athens County?
The Ohio Development Services Agency offers a range of tax credits, incentives and loans for businesses that create jobs and strengthen the local economy. Athens County takes full advantage of these resources to help our businesses grow and thrive. They include:
Invest Ohio Project
InvestOhio is a tax incentive program benefiting small businesses and investors in the state of Ohio. The program encourages investors to directly support small business ventures by providing the small business with cash or equity by offering tax credits to the investors. The program is administered by the Ohio Development Services Agency and the Ohio Department of Taxation. Visit the link above to learn more.
New Market Tax Credits
The Ohio New Market Tax Credit Program provides investors incentives to fund businesses in low-income communities by awarding tax credit allocation authority to the economic or community development entity serving as the project intermediary (Investors gives 39% of investment claimed over 7 years).
Ohio Enterprise Zone Program
The Ohio Enterprise Zone Program is an economic development tool that provides tax abatements on a portion of the value of new real and personal property for businesses making investment in Ohio that in conjunction with job creation.
Local Job Creation Tax Credits
The Local JCTC is a payroll tax incentive that reduces business tax obligations for companies that commit to job creation and a certain payroll threshold in the form of refundable tax credits.
Regional 166 Direct Loan
Regional 166 Direct Loan Program (Regional 166 Direct Loan) promotes economic development, business expansion and job creation by providing financial assistance for allowable costs of eligible projects in the State of Ohio. This program provides low-interest loans to businesses creating new jobs or preserving existing employment opportunities in the state. Application collection and review, along with initial program approvals are handled by certified local economic development agencies.
Roadwork Development (629) Funds
Roadwork Development (629) funds are available for public roadway improvements, including engineering and design costs. Funds are available for projects primarily involving manufacturing, research and development, high technology, corporate headquarters, and distribution activity. Projects must create or retain jobs. Grants are reimbursable and provided to a local jurisdiction and require local participation.
ACEDC Revolving Loan Funds
The ACEDC offers three different RLF programs that provide minimum gap financing to compliment conventional methods of financing. Each RLF aims to grow the Athens economy by helping new or existing companies finance expansion and growth projects. Learn more about eligible projects and requirements on our Revolving Loan Funds page.
Ohio Won’t Tax Your Profits
We’ve eliminated corporate profit and franchise taxes. Zero tax on corporate profit means reduced operating costs and enhanced profit margins for your business.
No Taxes on New Machinery and Equipment
We want your profits to soar, so when you invest in greater productivity, your business will have zero tax liability surrounding that investment.
Zero Tax Burden on Inventory
Operating costs can drop significantly as a result of Ohio’s inventory tax policy. If your business holds inventory in Ohio, it’s completely tax free.
Don’t Pay Tax on Out-of-State Sales
Ohio doesn’t impose a tax on goods or services sold outside of our state. If you ship 100% of your product outside of Ohio, your Commercial Activities Tax (CAT) is zero.
Start a Business, Get Huge Benefits
Entrepreneurs will love this: Your first $1 million in gross receipts can be tax-free in Ohio.
Our Flat Tax is Easier
Flat tax paid if your sales are between $150,000 and $1 million.
JobsOhio Incentive Programs
Ohio’s state economic development entity, JobsOhio, offers a full range of benefits for businesses looking to grow and expand in Ohio, including loans, grants and tax abatements. The ACEDC will help your company maneuver the JobsOhio program database, and help you determine which programs are most appropriate for your company’s needs. For additional information on each of these JobsOhio programs, visit http://jobs-ohio.com/why-ohio/incentives/
JobsOhio Tax Credits
State & Regional Funding
The ACEDC always makes a point to communicate closely with local, state and regional partner agencies to secure funding for viable economic development projects that promote economic development, business expansion, and job creation. Entities we work closely with to craft funding packages include:
- Appalachian Regional Commission (ARC)
- Buckeye Hills Regional Development District
- Southern Ohio Agricultural & Community Development Foundation (SOADCF)
- COAD Community Development
- Ohio Statewide Development Corporation
- 504 Loan program – provides funding for up to 40% of the total cost of commercial real estate and equipment.
The ACEDC also takes advantage of USDA programs and funding for rural business developments. Learn more at https://www.rd.usda.gov/programs-services