Scope of Services
Does Southwest Ohio Get It’s Fair Share?
Maybe it’s because Cleveland endured the devastation of losing a major industry, something Cincinnati has not experienced, but businesses and organizations in Northeastern Ohio have a culture in which they actively engage in not only asking for assistance, but in crafting state policies and programs to the benefit of their region. This is not a criticism of Cleveland, but rather an observation about the differing cultures evident in the region.
As the home to state government, business in Columbus are is inextricably linked to state government. The proximity and prominence of state government creates relationships and a culture unlike any other region of Ohio. State is in a top-of-mind position for businesses unlike it is in any other region of the state. Businesses in this region naturally avail themselves to opportunities arising from state government because it’s readily available and accessible.
We’ve all heard that the squeaky wheel gets the grease. Considered collectively, businesses in Southwest Ohio are not squeakers. In order to get incentives, businesses must ask. Whether it’s a sense of rugged individualism, a more conservative culture or a sense of separation from Columbus and state government, businesses in Southwest Ohio don’t ask for incentives at the same rate as businesses in other parts of the state. This holds true for grants and forms of assistance from state government. We just don’t ask.
The bottom line is that if you want something you’ve never had, you need to do something you’ve never done. Let us help you develop a strategy to make your ask.
Job Creation Tax Credit. The Ohio Job Creation Tax Credit is available to companies adding 20 or more new workers over the next three years. Credits are awarded through Jobs Ohio. The credit is a percentage of the aggregate state earnings tax being credited against the company’s Commercial Activity Tax liability. Terms range from 4 to 15 years. The credit can be carried forward and is refundable.
Workforce Training Grants. The State of Ohio does make some workforce training grants available. The grants require a 50% match and are relatively flexible. The grants are subject to the availability of funds.
Grants. Ohio has limited grant opportunities; funds are typically available to assist with new job creation and infrastructure improvement.
Low-Interest Loans. JobsOhio has the ability to make low interest loans, with flexible terms, available for job creating projects. At this time, the loans are negotiated individually with the JobsOhio staff in Columbus.
Workforce Identification. The State of Ohio, through the workforce development program, also offers assistance in locating qualified workers and connecting companies with workforce training opportunities capable of producing the workforce it needs.
Kentucky Business Incentive Program. This is a job creation tax credit focused on the attraction of agribusiness, regional and national headquarters, manufacturing, technology and no-retail job creation incentive. Projects locating in certain counties may qualify for an enhanced benefit. A minimum of 20 new jobs created in the next three years is a minimum eligibility requirement.
Kentucky Enterprise Initiative. Kentucky refunds sales and use tax for building and construction materials for certain new and expanded job creating projects in Kentucky. Some IT equipment also qualifies for the refund.
Low Interest Loans. Below market rates loans are available from the State of Kentucky for select non-retail job creating projects.
Kentucky Reinvestment Act. A tax credit is available for manufacturing companies investing a minimum of $2,500,000 in eligible equipment and renovation/ construction costs associated with job creating projects.
SBIR- STTR Matching Grants. The state offers a competitive program in which it matches federal SBIR and STTR grant awards, by nature, these grants are available to technology companies and research and development projects.