Development Incentives

The Village of Evendale wants to help you make your project work.

Local Enterprize Zones allow an exemption of up to 75% (or up to a 60% average exemption over the exemption term), on new real estate and personal property taxes for up to 15 years without school board approval.

R&D, Warehouse and Manufacturing Equipment Sales Tax Exemption allows qualified R&D, warehousing and manufacturing equipment used in Ohio an exemption from state and county sales tax.

Storage Only Warehouse Exemption provides an exemption on property taxes on qualifying inventory shipped into Ohio, held for storage only, and shipped outside Ohio.

Job Creation Tax Credits allow companies creating at least 25 new full time jobs paying at least 150% of federal minimum wage to apply for state income or corporate franchise tax credits.  Projects creating as few as 10 new full time jobs and paying an average wage of at least 400% of federal minimum wage may also be eligible for tax credits.  The refundable credit is calculated as a percentage of state income tax revenue withheld by the business for employees hired to fill the new jobs.  In exchange for the credit, the company must maintain operations at the project site for twice the term of the approved tax credit.  The law also allows a municipality to grant a credit against its income tax to a business that also receives a new state credit.

Tax Increment Financing (TIF) allows local governments in Ohio to redirect new taxes on the value of real property improvements. A TIF works by locking in the taxable worth of real property at the value it holds at the time the TIF was approved. Payments derived from the increase assessed value of any improvement to real property beyond that amount are directed towards a separate fund to finance the construction of public infrastructure including public roads, water and sewer lines, remediation, land acquisition, demolition, gas, electric and communications service facilities, and public waterways. Local jurisdiction may exempt from real property taxes the value of private improvements up to 75% for a term of up to 10 years, (up to 100% for up to 30 years with school board approval).

Ohio Investment In Training Program (OITP) provides up to 50% reimbursement for customized training of incumbent workers. Emphasis is on manufacturing and selected employment sectors that have significant training and capital investment related to creating and retaining jobs.

The Ohio Training Tax Credit Program provides a non refundable tax credit to businesses that conduct an eligible training program to improve the skills of employees at risk of losing their jobs or to improve the skills of other eligible employees.  The credit is available to help businesses train full-time, incumbent workers only.  The tax credit may equal as much as one-half of the average training costs for the prior three year period but may not exceed $1,000 per eligible employee or $100,000 per business per year.  Eligible cost include employee assessment, instructors, materials, supplies, instructional media, training equipment and wages of trained employees.

State of Ohio 166 Direct Loan Program provides loans from $350,000 up to $1 million (up to the lesser of 30% of fixed asset costs or $15,000 per job), 3% fixed rate, 5-15 year term. The Regional 166 Loan Program through Hamilton County Development Co., Inc. also provides up to $350,000 at 2/3 of bank prime interest rate.

SBA 504 Loan Program.  Three SBA certified development companies in Hamilton, Butler, and Warren counties provide fixed asset financing for up to 40% of the total cost of an expansion project, fixed below-market rate, up to 20 year term, through the SBA 504 Loan Program.  The Ohio Enterprise Bond Fund offers up to 90% of projected fixed asset costs, $10 million maximum, fixed rate, up to 20 year term, through the SBA 504 Loan Program.

The Evendale Linked Deposit Loan Program allows eligible businesses to access fixed asset financing at favorable and flexible terms.  Once a business loan is approved by a conventional lendor, the Evendale Community Improvement Corporation places a certificate of deposit with the lending institution, so that the business loan can be made at a reduced interest rate.

Ohio Enterprise Bond Fund, (rated AA by Standard & Poor’s), provides funding for land and building acquisitions, construction, expansion  or renovation, and equipment purchases for commercial or industrial projects between $1.5 million and $10 million.  Long term fixed rate for up to 15 years and 90% of project costs.

Ohio Qualified Small-Issue Bond Program provides low-interest financing for small manufacturing facilities locating or expanding in Ohio that have or can obtain allocations of volume cap. Financing may be used for capital expenses and up to 2% of issuance costs. Bonds can be used to finance up to 100% of the cost of land, buildings and new equipment in new construction, expansion or rehabilitation of industrial facilities.  Interest rates are between ¾ and 3% below prime rate.

The Clean Ohio Revitalization Fund provides grants and loans to Ohio counties, municipalities, townships and port authorities for the cleanup of polluted properties so the can be restored to productive uses. Program is focused on both economic and environmental benefits of cleanup and projects that generate significant economic and community impact. Grant or loan to any one project cannot exceed $3 million, and there is a minimum 25% match.

Infrastructure grants and low interest loans available to assist communities with infrastructure improvements to serve expanding industry and new industry projects.  

Tax Increment Financing (TIF) Program allows Ohio communities to redirect real property taxes resulting from new investments to pay for public infrastructure which will benefit the company making the investment.

Research & Development Investment Fund is designed to position Ohio to compete aggressively for private-sector R&D investments that will create high-wage jobs.  The $200 million fund targets large investments from companies with significant assets and sales.  The fund will be used to aggressively pursue research and development operations/facilities and fund the cost of capital purchases.  The program funds 50% of eligible capital costs for companies making a minimum investment of $10 million in fixed assets, and provides loans ranging in size of $5-$25 million.  Loan term is established to meet individual project needs but will fall within the 5-20 year term with a 3%-5% fixed rate.

Innovation Ohio Revolving Loan Fund is a $100 million revolving loan fund designed to help existing Ohio companies and new companies to the State invest in fixed assets for the purpose of developing new commercial products.  The program finances fixed assets such as M&E, building improvements, computers and off the shelf software .  Loans range from $250,000-$5 million and finance 50%-75% of total project costs.