Financing & Incentives

The City of Trotwood is user friendly and result oriented. We ready to assist existing, growing or new companies with expanding a current Trotwood operation, leasing an existing property or building a new building. Our Economic Development team brings 40+ years of real estate development and financing experience to the table. In short, we are ready to get your company growing in Trotwood.

Local Incentives

  • Community Investment Act (CRA)
    A Community Reinvestment Area (CRA) is an area of land designated by a local government on which property owners can receive tax incentives for constructing new or renovating existing buildings. The CRA Program permits municipalities, townships, or counties to designate areas where investment has been lagging to encourage revitalization of the existing housing stock and the development of new structures. Residential, commercial, and industrial projects are all eligible. The program is similar to the Enterprise Zone program in that it incentivizes investment by allowing for property tax abatements, but that is where the similarities end. The program also should not be confused with the Community Reinvestment Act (CRA) for banking and financial institutions. In relationship to housing, a survey must show that significant number or at least 20% of the properties in the area are in need of rehabilitation.
  • Enterprise Zone
    Enterprise zones are designated areas of land in which businesses can receive tax incentives in the form of tax exemptions on eligible newinvestment. The Enterprise Zone Program can provide tax exemptions for a portion of the value of new real and personal property investment (when that personal property is still taxable) when the investment is made in conjunction with a project that includes job creation. Existing land values and existing building values are not eligible (except as noted within rare circumstances).
  • The Federal HUB Zone
    The Historically Underutilized Business Zones (HUBZone) program was enacted into law as part of the Small Business Reauthorization Act of 1997. The program falls under the auspices of the U.S. Small Business Administration. The program encourages economic development in historically underutilized business zones – “HUBZones” – through the establishment of preferences.

Local Financing Assistance

  • Land Acquisition
    If your company in interested in purchasing commercially zoned properties, owned by the City of Trotwood or the Trotwood Community Improvement Corporation, you will be welcome to apply for local City or CIC backed financing. This financing opportunity applies to both commercial and larger scale housing development projects.

JobsOhio Inventives

  • JOBSOHIO WORKFORCE GRANT
    The JobsOhio Economic Development Grant was created to promote business expansion, and job creation by providing funding for eligible projects in the State of Ohio.
  • JOBSOHIO DEVELOPMENT GRANT
    The JobsOhio Economic Development Grant was created to promote business expansion, and job creation by providing funding for eligible projects in the State of Ohio.
  • JOBSOHIO REVITALIZATION PROGRAM
    The JobsOhio Revitalization Program is focused on helping revitalize sites in end-users that support future job creation opportunities for Ohioans.The program, comprised of both loans and grants, is available to public and private entities seeking to clean up and redevelop sites across Ohio.
  • JOBSOHIO GROWTH FUND LOAN
    The JobsOhio Growth Fund provides capital for expansion projects to companies that have limited access to capital and funding from conventional, private sources of financing. JobsOhio will consider loans to companies that are in the growth, established, or expansion stage, and that have generated revenues through a proven business plan.

STATE LOAN & GRANT PROGRAMS

  • R&D INVESTMENT LOAN FUND
    The Research and Development Investment Loan Fund provides loan financing between$500,000 and $5 million for projects primarily engaging in research and development activity. Rates are fixed (at- or below-market rates) with other loan terms similar to those of commercial bank financing. Companies receive a dollar-for-dollar, non-refundable Ohio commercial activity tax credit for principal and interest payments made during the year, up to $150,000 during the loan term.
  • 166 DIRECT LOAN
    The 166 Direct Loan provides loans for land and building acquisition, construction, expansion, or renovation, and equipment purchases for eligible businesses. The program provides low-interest loans up to 40 percent, not to exceed $1.5 million.
  • OHIO ENTERPRISE BOND FUND
    The Ohio Enterprise Bond Fund provides revenue bond financing through an S&P rated fund, whereby proceeds from the sale of bonds are loaned to companies for fixed-rate, long-term capital asset financing. Rates are market-driven and fixed prior to funding. Loan terms range between 7 to 10 years for equipment and 15 to 20 years for real estate. Up to $10 million in financing is available through the program.
  • INNOVATION OHIO LOAN FUND
    The Innovation Ohio Loan Fund provides loans for acquisition, construction, and related capital costs of technology, facilities, and equipment purchases. The fund was created to assist existing Ohio companies in developing next-generation products and services within the state’s Industry Sectors up to 75 percent ranging from $500,000 to $1.5 million.
  • ROADWORK DEVELOPMENT (629)
    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.

STATE TAX CREDITS

  • JOB CREATION TAX CREDIT
    The Job Creation Tax Credit is a refundable tax credit to companies generally creating at least 10 new jobs (within three years) with a minimum annual payroll of $660,000 that pay at least 150 percent of the federal minimum wage. The tax credit is measured as a percentage of the state income tax with-holdings for all new employees hired under the program and is applied toward the company’s commercial activity tax liability. Should the amount of the credit exceed the company’s commercial activity tax liability for any given year, the difference is refunded. A business must apply for the credit before committing to the project. Applicants must be approved through the Ohio Tax Credit Authority before hiring begins.
  • DATA CENTER TAX ABATEMENT
    The Data Center Sales Tax Exemption provides a tax exemption rate and term that allows for partial or full sales tax exemption on the purchase of eligible data center equipment. Projects must meet minimum investment and payroll thresholds to be eligible. Final approval of the tax exemption is contingent upon the approval of the Ohio Tax Credit Authority.
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