Business Assistance

Provides real property tax incentives for businesses that expand or locate in Ohio. In order to apply, the municipality or county must apply to the State Development Director for certification. To secure benefits, non-retail businesses must apply to the local community for local property tax exemptions and to the State Development Director for state franchise or state income tax incentives.

Up to 75% exemption in incorporated areas and up to 60% exemption in unincorporated areas on real property improvements for up to 10 years.

Substantial tax reductions on new real property investment. Reductions apply to the increase in assessed value for real property.

Industrial projects (retail/service projects are eligible in limited areas). Business must finalize agreement to retain or create employment; establish expand, renovate or occupy a facility in an Enterprise Zone; and invest in new real and/or personal property prior to project initiation

Workforce development and training grants from Jobs Ohio along with a local tax incentive offered by the Village of Minster have made it possible for Nidec Minster Corporation to announce the expansion of their remanufacturing facility in the community. Nidec Minster will invest over $6,000.000.00 to construct a 20,750 square foot addition that will allow the company to expand their facility to accommodate the remanufacturing of stamping presses Both Jobs Ohio and the Village worked together to put an incentive package together that saw Nidec Minster receive a tax abatement on real property improvements as well as receive workforce development dollars to train employees who will be working in the expanded facility.

The Auglaize County Revolving Loan Fund is primarily a “gap” financier designed to participate in conjunction with a private lender(s) for either start up or expansion of business entities located with in the confines of Auglaize County, Ohio. Typically, a RLF project includes up to 45% private lender funds, a RLF lien covering up to 50% of the costs and at least 5% equity from the business being helped.

Interest rate is determined on a project-to-project basis dependant upon what is necessary and appropriate for the project to proceed. Term is also determined on a project-to-project basis. Typical terms are 5-10 years for machinery/equipment and 10-15 years for real estate acquisitions.

Provide additional project funding in cases where private lending institutions can not meet total project funding requirements.

Entity must be either a start up or expansion of a business located within the confines of Auglaize County, Ohio. Each loan should produce at least one new or retained permanent full-time equivalent job for every $25,000 loaned.

The State of Ohio offers numerous business and tax incentives, grants and financing programs to businesses locating or expanding in Ohio. Each program offers unique rates, terms and eligibility requirements. For details on the available State funding programs, please visit the Ohio Development Services Agency websites:

Projects approved by the Authority are required to enter into a tax credit agreement summarizing the commitments and compliance requirements pursuant to the Ohio Revised Code and Ohio Administrative Code. 

• The awarded percentage/term of the tax credit and the tax credit start date;

Any taxpayer wishing to request changes to an approved tax credit project must submit a completed Incentive Modification Request Form found in the dropdown menu on the left. This form must be completed regardless of the nature of the change requested. There is a $300 amendment fee associated with the process.

The tax credit program requires taxpayers to annually submit to ODSA a report detailing information pertaining to the taxpayer's project. Complete annual reports must be submitted by March 1 each year. ODSA requires annual progress reports to be filed for the year in which the tax credit begins and consecutive years throughout the term of the tax credit.

The Ohio Research and Development Investment Tax Credit, which is authorized within Section 5751.51 of the Ohio Revised Code, is a nonrefundable credit against the Commercial Activity Tax (CAT).

In order to qualify, the taxpaying Corporation must invest in "Qualified Research Expenses", as defined in Section 41 of the Internal Revenue Code. Both in-house expenses, such as wages and supplies, and contract expenses qualify (See Section 41 of IRC for more details).

The credit equals seven percent of the amount of Qualified Research Expenses in excess of the taxpayer's average investment in Qualifying Research Expenses over the three preceding taxable years. Any excess credit not used for the taxable year in which it is earned may be carried forward for up to seven years.

There is no special application or approval process for this tax credit. The credit may be claimed on a tax return, but will be subject to audit by the Department of Taxation.

GrowNOW is a partnership between eligible banks and the Ohio Treasurer’s office. The program enables small business owners to receive up to a 3% interest rate reduction on new or existing small business loans for two years, with the opportunity for renewals. Small business owners must commit to the creation or retention of at least one full-time job or two part-time jobs in the State of Ohio for every $50,000 borrowed, up to $400,000. GrowNOW broadly serves as a catalyst for Ohio’s economic development by supporting the small businesses that drive it.

The GrowNOW interest rate reduction of up to 3% is calculated by the Ohio Treasury using current market investment indicators, and the negotiated business loan rate. As of 6/7/2019 the linked deposit and business loan discount rates will match. For more details about this discount rate model please contact our office.

The benefits of GrowNOW are three-fold: 

Eligible business owners must meet the following criteria:

The SBA 504 Loan program is a powerful economic development loan program that offers small businesses another avenue for business financing, while promoting business growth, and job creation. As of February 15, 2012, the $50 Billion in 504 loans has created over 2 million jobs. This program is a proven success and win-win-win for the small business, the community and participating lenders.

504 Loans are typically structured with SBA providing 40% of the total project costs, a participating lender covering up to 50% of the total project costs, and the borrower contributing10% of the project costs. Under certain circumstances, a borrower may be required to contribute up to 20% of the total project costs.

The 504 Loan program offers small businesses both immediate and long-term benefits, so business owners can focus on growing their business. Some of the top-level benefits include:

To be eligible for a 504 Loan, your business must be operated for profit and fall within the size standards set by the SBA. Under the 504 Program, a business qualifies if it has a tangible net worth not more than $15 million, and an average net income of $5 million or less after federal income taxes for the preceding two years prior to application.

The 7(a) loan program is the SBA's primary program for providing financial assistance to small businesses. The terms and conditions, like the guaranty percentage and loan amount, may vary by the type of loan.

85% for loans up to $150,000 and 75% for loans greater than $150,000

Lenders and borrowers can negotiate the interest rate, but it may not exceed the SBA maximum

By the SBA. Qualified lenders may be granted delegated authority (PLP) to make eligibility determinations without SBA review.

The Regional 166 Direct Loan Program ("Regional 166 Direct Loan" or the "Program") promotes economic development, business expansion, and job creation and/or retention by providing low interest loans to businesses who may have limited access to adequate capital from private sources of financing.

The Regional 166 Direct Loan interest rate is fixed at/or below local market rates.

The Regional 166 Direct Loan may finance up to 40% of allowable project costs/uses with loans up to $500,000. Businesses seeking larger loan amounts from a program with similar guidelines should explore the 166 Direct Loan Program.

Eligible projects include those related to industry, commerce and distribution, or research activities.