Our diverse region has the land and building assets that your company needs to succeed and grow. Check out our GIS-based list of available properties to find
what you're
looking for.

Search

See how Cleveland Plus can positively impact your business.

Cleveland Plus Video

Watch Video

Print This Page

LORAIN COUNTY


Population Demographics

Primary & Secondary Education

Population Demographic Characteristics

Personal Income

House/Household Characteristics

Private Non-Farm Establishments

Labor Force

Selected Economic Statistics

Payroll Employment by Industry

Major Employers

Employment by Occupation

County and City Websites

Workers Earning by Industry

Colleges & Universities

Educational Attainment

Incentives

POPULATION DEMOGRAPHICS
Geography 1990 2000 2005
Lorain County 271,126 284,664 296,307
Lorain city 71,245 68,652 67,820
Elyria city 56,746 56,068 56,061
North Ridgeville city 21,564 22,338 26,108
Avon Lake city 15,066 18,145 22,280
Avon city 7,337 11,446 15,741
Sources: 1990 Census, 2000 Census, 2005 American Community Suvey
POPULATION DEMOGRAPHIC CHARACTERISTICS
Variable Lorain County 1990 Lorain County 2000 Lorain County 2005
Persons: Total 271,126 284,664 287985
Persons: Male 132,131 139,356 139894
Persons: Female 138,995 145,308 148091
Persons: White 241,846 243,296 246929
Persons: Black 21,138 23,543 20878
Persons: American Indian; Eskimo; or Aleutian 710 829 1786
Persons: Asian or Pacific Islander 1,239 1,715 2565
Persons: Other race 6,193 8,186 22523
Persons of Hispanic origin: Total 15,320 19,358 2005 ACS Data Not Available
Persons: 14 years or under 61,760 60,720 59600
Persons: 15 to 24 years 39,874 36,408 37537
Persons: 25 to 34 years 44,386 36,383 36342
Persons: 35 to 44 years 42,057 47,253 42667
Persons: 45 to 54 years 28,240 40,541 44318
Persons: 55 to 64 years 23,542 25,599 31727
Persons: 65 years and over 31,267 35,715 35794
Median Age   37 37.7
Sources: 1990 Census, 2000 Census, 2005 American Community Suvey
HOUSE/HOUSEHOLD CHARACTERISTICS
Geography Lorain County 1990 Lorain County 2000 Lorain County 2005
Households: Total 96,059 105,875 111,845
Persons per Household 2.82 2.69 2
Housing units: Total 99,937 111,368 120,052
Housing units: Occupied 96,064 105,836 111,845
Housing units: Vacant 3,873 5,532 8,207
Occupied housing units: Owner occupied 69,048 78,472 83,908
Occupied housing units: Renter occupied 27,016 27,364 27,937
Households: Median household income in 1989 31,098 45,042 47,913
Persons for whom poverty status is determined: below 1.00 30,459 24,809 33,764
Sources: 1990 Census, 2000 Census, 2005 American Community Suvey
LABOR FORCE
Year Labor Force Employment Unemployment Unemployment Rate
2006 154,400 145,500 8,900 5.8
2005 154,000 145,200 8,800 5.7
2004 152,500 143,600 8,900 5.8
2003 152,400 143,000 9,400 6.2
2002 150,400 141,900 8,500 5.6
2001 150,300 142,900 7,400 4.9
2000 148,900 142,700 6,200 4.1
1999 146,500 139,900 6,700 4.5
1998 144,900 137,800 7,100 4.9
1997 143,900 135,900 8,000 5.6
Source: Ohio Labor Market Information (LMI)
Last Updated: April 5, 2006
PAYROLL EMPLOYMENT BY INDUSTRY
Area Ind Code Industry Average Employment 2000 Average Employment 2005
Lorain County 11 Agriculture, Forestry, Fishing & Hunting    
Lorain County 21 Mining    
Lorain County 22 Utilities 483 386
Lorain County 23 Construction 6320 5846
Lorain County 31-33 Manufacturing 28,748 21,245
Lorain County 42 Wholesale Trade 2502 2791
Lorain County 44-45 Retail Trade 13,013 13,460
Lorain County 48-49 Transportation and Warehousing 1,956 1,900
Lorain County 51 Information 1682 1319
Lorain County 52 Finance and Insurance 1922 2078
Lorain County 53 Real Estate and Rental and Leasing 981 978
Lorain County 54 Professional and Technical Services 1973 2088
Lorain County 55 Management of Companies and Enterprises 420 421
Lorain County 56 Administrative and Waste Services 4800 4823
Lorain County 61 Educational Services 1852 2244
Lorain County 62 Health Care and Social Assistance 11204 12326
Lorain County 71 Arts, Entertainment, and Recreation 1231 1412
Lorain County 72 Accommodation and Food Services 7,419 8,171
Lorain County 81 Other Services, Ex. Public Admin 3921 3334
Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages data
EMPLOYMENT BY OCCUPATION - NOTE: EMPLOYMENT AND WAGE INFORMATION NOT AVALIABLE FOR ASHLAND COUNTY AT THE MSA LEVEL
MSA OCCUPATION CODE OCCUPATION TITLE TOTAL EMPLOMENT HOURLY MEAN ANNUAL MEAN HOURLY MEDIAN ANNUAL MEDIAN
Cleveland- Elyria- Mentor, OH 00-0000 All Occupations 1,056,400 $18.54 $38,560 $15.04 $31,270
Cleveland- Elyria- Mentor, OH 11-0000 Management occupations 42,700 $44.56 $92,690 $39.51 $82,180
Cleveland- Elyria- Mentor, OH 13-0000 Business and financial operations occupations 53,440 $25.70 $53,460 $23.61 $49,110
Cleveland- Elyria- Mentor, OH 15-0000 Computer and mathematical occupations 21,400 $29.84 $62,070 $29.11 $60,550
Cleveland- Elyria- Mentor, OH 17-0000 Architecture and engineering occupations 17,880 $29.81 $62,010 $28.00 $58,230
Cleveland- Elyria- Mentor, OH 19-0000 Life, physical, and social science occupations 7,130 $26.33 $54,760 $23.76 $49,420
Cleveland- Elyria- Mentor, OH 21-0000 Community and social services occupations 14,470 $19.18 $39,890 $17.97 $37,380
Cleveland- Elyria- Mentor, OH 23-0000 Legal occupations 10,390 $38.26 $79,570 $30.20 $62,810
Cleveland- Elyria- Mentor, OH 25-0000 Education, training, and library occupations 54,650 $23.24 $48,330 $22.54 $46,880
Cleveland- Elyria- Mentor, OH 27-0000 Arts, design, entertainment, sports, and media occupations 11,830 $21.41 $44,520 $19.34 $40,230
Cleveland- Elyria- Mentor, OH 29-0000 Healthcare practitioners and technical occupations 59,920 $28.38 $59,040 $24.38 $50,700
Cleveland- Elyria- Mentor, OH 31-0000 Healthcare support occupations 33,080 $11.58 $24,080 $10.60 $22,040
Cleveland- Elyria- Mentor, OH 33-0000 Protective service occupations 26,910 $16.11 $33,510 $13.95 $29,030
Cleveland- Elyria- Mentor, OH 35-0000 Food preparation and serving related occupations 83,530 $8.27 $17,210 $7.39 $15,360
Cleveland- Elyria- Mentor, OH 37-0000 Building and grounds cleaning and maintenance occupations 33,850 $10.92 $22,710 $9.83 $20,440
Cleveland- Elyria- Mentor, OH 39-0000 Personal care and service occupations 23,900 $10.98 $22,830 $9.28 $19,310
Cleveland- Elyria- Mentor, OH 41-0000 Sales and related occupations 110,020 $16.71 $34,760 $11.70 $24,330
Cleveland- Elyria- Mentor, OH 43-0000 Office and administrative support occupations 191,370 $14.45 $30,050 $13.53 $28,130
Cleveland- Elyria- Mentor, OH 45-0000 Farming, fishing, and forestry occupations 510 $11.76 $24,460 $10.86 $22,590
Cleveland- Elyria- Mentor, OH 47-0000 Construction and extraction occupations 39,290 $21.24 $44,190 $21.12 $43,940
Cleveland- Elyria- Mentor, OH 49-0000 Installation, maintenance, and repair occupations 39,530 $18.54 $38,560 $18.04 $37,520
Cleveland- Elyria- Mentor, OH 51-0000 Production occupations 101,370 $15.64 $32,530 $14.36 $29,870
Cleveland- Elyria- Mentor, OH 53-0000 Transportation and material moving occupations 79,210 $14.50 $30,150 $11.98 $24,910
Source: US Bureau of Labor Statistics, Occupational Employment Statistics
WORKER EARNINGS BY INDUSTRY
NAICS Industrial Sector Employment Wages Annual Average Earnings Average Weekly Earnings
Total covered under Ohio UC Law (b) 100,190 $3,449,712 $34,432 $662
Private Sector 85,678 2,908,897 $33,952 $653
Agriculture, forestry, fishing and hunting (c) (c)   $0
Mining (c) (c)   $0
Utilities 386 24,099 $62,433 $1,201
Construction 5,846 209,356 $35,812 $689
Manufacturing 21,245 1,147,644 $54,019 $1,039
Wholesale trade 2,791 119,567 $42,840 $824
Retail trade 13,460 281,832 $20,938 $403
Transportation and warehousing 1,900 67,173 $35,354 $680
Information 1,319 45,584 $34,560 $665
Finance and insurance 2,078 78,365 $37,712 $725
Real estate and rental and leasing 978 22,404 $22,908 $441
Professional and technical services 2,088 97,670 $46,777 $900
Management of companies and enterprises 421 23,889 $56,743 $1,091
Administrative and waste services 4,823 109,886 $22,784 $438
Educational services 2,244 75,376 $33,590 $646
Health care and social assistance 12,326 419,748 $34,054 $655
Arts, entertainment, and recreation 1,412 18,404 $13,034 $251
Accommodation and food services 8,171 84,544 $10,347 $199
Other services, except public administration 3,377 63,808 $18,895 $363
         
State & Local Government 14,512 540,815 $37,267 $717
State Government 1,286 56,159 $43,670 $840
Local Government 13,226 484,656 $36,644 $705
         
Federal Government (d) 1,148 109,240 $95,157 $1,830
Annual Average Employment/Total Wages (in thousands of dollars) as Covered under the Ohio and Federal Unemployment Compensation Laws by North American Industry Classification System (NAICS) Industrial Sector and County
(a) Final, based upon employers' reports for calendar year 2005 received in the Bureau of Labor Market Information through July 1, 2006.
(b) Summed totals and subtotals for the state and each county may not equal the sum of industrial divisions because of the exclusion of those industries with fewer than three employers or because of rounding. Includes the Private Sector, State and Local Government entities, but excludes Federal Government agencies.
(c) Suppressed for confidentiality.
(d) Includes only Federal Government agencies.
(e) Out of state includes workers employed in Ohio, who report to a base outside Ohio, and are not classifiable by county; government employees stationed outside Ohio.
Ohio Department of Job and Family Services, Bureau of Labor Market Information
EDUCATIONAL ATTAINMENT
Level of Attainment 1990 2000 % change
Population 25 years & over 169,492 185,491 9.44%
9th to 12th grade, no diploma 29,453 6,143 -79.14%
High school graduate (incl. equivalency) 64,501 68,348 5.96%
Some college, no degree 31,127 24,921 -19.94%
Associate's degree 11,066 12,828 15.92%
Bachelor’s degree 13,642 20,203 48.09%
Graduate or professional degree 7,261 10,538 45.13%
Percentages:      
% high school graduate or higher 75.28% 73.77% -2.01%
% bachelor’s degree or higher 12.33% 16.57% 34.38%
Souce: US Census Bureau; Last Update: 03/02/07
PRIMARY & SECONDARY EDUCATION
Classification Private Misc. Public Public SD County Total
Public SD     Amherst Ex Vill SD Lorain 4,345
Public SD     Avon Lake City SD Lorain 3,551
Public SD     Avon Local SD Lorain 3,128
Public SD     Clearview Local SD Lorain 1,659
Public SD     Columbia Local SD Lorain 1,163
Public SD     Elyria City SD Lorain 7,730
Public SD     Firelands Local SD Lorain 2,077
Public SD     Keystone Local SD Lorain 1,836
Public SD     Lorain City SD Lorain 9,346
Public SD     Midview Local SD Lorain 3,635
Public SD     North Ridgeville City SD Lorain 3,769
Public SD     Oberlin City SD Lorain 1,128
Public SD     Sheffield-Sheffield Lake City Lorain 1,949
Public SD     Wellington Ex Vill SD Lorain 1,648
          46,964
           
Private Elyria Catholic High School     Lorain 559
Private Elyria Christian Academy Eleme     Lorain 14
Private FBCS High School     Lorain 151
Private Holy Trinity Elementary School     Lorain 428
Private Lake Ridge Academy Elementary     Lorain 370
Private Le Chaperon Rouge-Avon Lake El     Lorain 10
Private Open Door Christian Elementary     Lorain 245
Private Open Door Christian High Schoo     Lorain 259
Private St Anthony Of Padua Elementary     Lorain 177
Private St Joseph Elementary School     Lorain 196
Private St Joseph Elementary School     Lorain 331
Private St Jude Elementary School     Lorain 415
Private St Mary Elementary School     Lorain 222
Private St Mary Immaculate Conception     Lorain 157
Private St Nicholas Byzantine Elementa     Lorain 23
Private St Peter Elementary School     Lorain 383
Private St Peter Elementary School     Lorain 326
Private St Thomas The Apostle Elementa     Lorain 104
Private St Vincent De Paul Elementary     Lorain 189
          4,559
 
Misc. Public   Academy of Arts and Sciences   Lorain 216
Misc. Public   Arts Academy, The   Lorain 272
Misc. Public   Elyria Community School   Lorain 246
Misc. Public   Life Skills Center of Elyria   Lorain 214
Misc. Public   Lorain Academy For Gifted   Lorain 61
Misc. Public   Lorain Alternative Academy   Lorain 27
Misc. Public   Lorain Community MS   Lorain 97
Misc. Public   Lorain Community School   Lorain 194
Misc. Public   Lorain Elementary Digital   Lorain 21
Misc. Public   Lorain High School Digital   Lorain 67
Misc. Public   Lorain Middle School Digital   Lorain 29
Misc. Public   Summit Academy MS Lorain   Lorain 61
Misc. Public   Summit Academy Second Lorain   Lorain 32
Misc. Public   Summit Academy-Lorain   Lorain 95
          1,632
           
Primary & Secondary Education Totals Misc. Public Private Public Total  
Enrollment (06-07) 1,632 4,559 46,964 53,155  
High school graduates          
Source: Ohio Dept. of Education, 2007 Enrollment
**Source: S&P (not available until December 2007)
PERSONAL INCOME
Year Total (000) Per Capita
1995 $5,982,449 $21,283
1996 $6,220,650 $22,034
1997 $6,566,555 $23,161
1998 $6,913,523 $24,393
1999 $7,231,275 $25,519
2000 $7,646,416 $26,808
2001 $7,740,095 $26,964
2002 $7,804,052 $26,936
2003 $8,081,928 $27,498
2004 $8,373,439 $28,220
2005 $8,734,559 $29,089
Source: US Bureau of Economic Analysis, Regional Economic Accounts
PRIVATE NON-FARM ESTABLISHMENTS
COUNTY Ind Code Industry Number of Establishments Average Employment Total Wages Average Weekly Wages
Lorain County 22 Utilities 8 386 $24,099,285 $1,202
Lorain County 23 Construction 850 5846 $209,355,783 $689
Lorain County 31 Manufacturing 437 21245 $1,147,643,935 $1,039
Lorain County 42 Wholesale Trade 403 2,791 $119,566,556 $824
Lorain County 44 Retail Trade 827 13,460 $281,832,428 $403
Lorain County 48 Transportation and Warehousing 176 1900 $67,172,584 $680
Lorain County 51 Information 61 1,319 $45,584,012 $665
Lorain County 52 Finance and Insurance 340 2078 $78,364,630 $725
Lorain County 53 Real Estate and Rental and Leasing 228 978 $22,403,555 $440
Lorain County 54 Professional and Technical Services 453 2088 $97,669,821 $899
Lorain County 55 Management of Companies and Enterprises 18 421 $23,889,496 $1,092
Lorain County 56 Administrative and Waste Services 341 4,823 $109,885,596 $438
Lorain County 61 Educational Services 43 2244 $75,375,536 $646
Lorain County 62 Health Care and Social Assistance 549 12,326 $419,747,631 $655
Lorain County 71 Arts, Entertainment, and Recreation 98 1412 $18,403,529 $251
Lorain County 72 Accommodation and Food Services 475 8,171 $84,544,001 $199
Lorain County 81 Other Services, Ex. Public Admin 543 3334 $62,807,301 $362
Source: US Bureau of Labor Statistics, 2005 Quarterly Census of Employment and Wages data
SELECTED ECONOMIC STATISTICS - NOTE: INFORMATION PRESENTED HERE FOR THE CLEVELAND-ELYRIA- MENTOR MSA INCLUDES CUYAHOGA, GEAUGA, LAKE, LORAIN AND MEDINA COUNTY DATA
NAICS Code Description Establishments Sales, receipts, or shipments ($ 1,000) Annual payroll ($ 1,000) Paid employees
31-33 Manufacturing 4161 34857954 6722773 163624  
42 Wholesale trade 4141 29075366 2451885 58219
52 Finance & insurance 3675 Not Available 3033221 63017
62 Health care & social assistance 5382 10976558 4823394 143721
Source: US Census Bureau 2002 Economic Census
MAJOR EMPLOYERS
Rank Company Est. Employees in County
1 Lorain County 2100
2 Ford Motor Co. 1922
3 Community Health Partners 1665
4 EMH Regional Medical Center 1602
5 Invacare Corp. 1405
6 Lorain City Schools 1180
7 Republic Engineered Products Inc. 1100
8 State of Ohio 1052
9 Oberlin College 980
10 Elyria Schools 850
Source: Crain's Cleveland 2007 Book of Lists
County and City Websites
Location URL
Team Lorain County http://www.teamloraincounty.com/
Lorain County www.loraincounty.com
Amherst www.epodunk.com/cgi-bin/genInfo.php?locIndex=16256
Avon www.epodunk.com/cgi-bin/genInfo.php?locIndex=16298 - 67k
Avon Lake www.avonlake.org/
Brighton www.epodunk.com/cgi-bin/genInfo.php?locIndex=16403
Brownhelm www.city-data.com/township/Brownhelm-Lorain-OH.html
Columbia Station www.hometownlocator.com/City/Columbia-Station-Ohio.cfm
Elyria www.epodunk.com/cgi-bin/genInfo.php?locIndex=16673
Grafton www.city-data.com/township/Grafton-Lorain-OH.html
Henrietta www.city-data.com/township/Henrietta-Lorain-OH.html
Huntington www.city-data.com/township/Huntington-Lorain-OH.html
Kipton www.hometownlocator.com/City/Kipton-Ohio.cfm
Lagrange www.city-data.com/township/Lagrange-Lorain-OH.html
Lorain www.cityoflorain.org
New Russia www.city-data.com/township/New-Russia-Lorain-OH.html
North Eaton www.hometownlocator.com/City/North-Eaton-Ohio.cfm
North Ridgeville www.epodunk.com/cgi-bin/genInfo.php?locIndex=17270
Oberlin www.epodunk.com/cgi-bin/genInfo.php?locIndex=17286
Penfield www.city-data.com/township/Penfield-Lorain-OH.html
Pittsfield www.city-data.com/township/Pittsfield-Lorain-OH.html
Ridgeville  
Rochester
Sheffield
Sheffield Lake www.epodunk.com/cgi-bin/genInfo.php?locIndex=17450 - 66k
South Amherst www.hometownlocator.com/City/South-Amherst-Ohio.cfm
South Lorain www.hometownlocator.com/City/South-Lorain-Ohio.cfm
Wellington www.city-data.com/township/Wellington-Lorain-OH.html
Colleges & Universities
Website Institution Address Phone Number Type of Institution Degrees Offered Enrollment
www.lorainccc.edu Lorain County Community College District 1005 N Abbe Rd., Elyria 44035 440-366-5222 Public, 2-yr. Associate 10,196
http://www.oberlin.edu/ Oberlin College 70 North Professor St., Oberlin 44074 440-775-8411 Private not-for-profit, 4 yr. or above Bachelor; Master 2,864
www.ohiobusinesscollege.edu Ohio Business College - Lorain 1907 N Ridge Rd., Lorain 44055 440-277-0021 Private for-profit, 2-yr. Associate 193
Lorain County Incentives
Program Name Type Administrator Program Description Basic Requirements
Lorain County Revolving Loan Fund (separate from CDBG) Repayable loans Lorain County Economic & Industrial Development Corporation To provide gap financing in the form of low interest loans for projects which will result in the creation of jobs in Lorain County.
 For every $25,000 loaned, at least one (1) new full time equivalent Lorain County job must be created.
Qualified operating for profit businesses in the eligible project areas. These include all of Lorain County with the exception of the City of Elyria and the City of Lorain. New Construction. Eligible projects: (1) Facility Expansion or Renovation, (2) Purchase of Machinery &/or Equipment, (3) Purchase of Furniture &/or Fixtures. The loan may not exceed thirty-five percent of the total project costs. Equity investment requirement is a minimum of ten (10) percent of the total project cost.
Downtown Revolving Loan Fund Low-Interest Loan LCEIDC To provide gap financing in the form of low interest loans for projects which will result in the creation of jobs in Lorain County and which will revitalize downtown neighborhoods.
 Eligible participants are downtown/neighborhood business or building owners. Eligible loan activities include code work (roof, ADA access, fire, structural) and façade work (windows/doors, painting). Ineligible activities include interior (carpet, wall) or exterior (sandblasting) renovation. Ohio Historic Preservation Office must approve all work to be done on building. Must have sufficient collateral and cash flow.
Recycling Revolving Loan Fund   Lorain County Solid Waste District will select a financial institution to administer the trust fund   Permitted uses of the loan funds for recycling businesses shall be: machinery/equipment; real estate; and/or furniture. Prohibited uses shall be: working cpaital, debt refinancing, and/or land purchase. Borrower must demonstrate that they have adequate collateral and the ability to repay the loan. Total loan amount cannot exceed 75% of total project cost with a minimum of 10% equity.
Community Reinvestment Areas Tax Exemption on Real Property Tax Administrated by individual communities - county only has responsibility over CRAs For the purpose of offering real property tax exemptions to existing businesses wishing to expand and for new businesses moving into the CRA Business must locate within one of the Community Reinvestment Areas. For post-1994 CRA's, the business must wait for approval before they can start building.
Enterprise Zone Tax Incentives Tax Abatement The county administers everything except for Elyria and Lorain The State of Ohio allows communities to provide tax abatement on real property and tangible personal property in designated areas, called Enterprise Zones. Stark County has seven Enterprise Zones that cover 80 square miles. Businesses locating or expanding within these designated zones may qualify for substantial state and local tax breaks. Project must be within the boundaries of an Enterprise Zone. Eligible Projects: (1) Personal Property - Purchase of new &/or used machinery &/or equipment (eliminated now) or Purchase of new inventory (eliminated in 2009); (2) Real Property - New construction; Renovation of an existing facility; Expansion of an existing facility; or Occupation of a vacant facility. Only abating new investments!
Industrial Development Revenue Bond Conduit Bond Lorain County Economic & Industrial Development Corporation Interest rate is dependant on the strength of the company. 6-10% interest - bank or bonding company decides how much they would bond the company and then the county floats the bond through the Bond Council Chapter 165 Economic Development Bonds that are issued for construction projects require Chapter 4115 prevailing wage rates to be paid. These bonds also require 0.0025 of principal amount as an issuance fee.

Chapter 140 Hospital Facilities Bonds that are issued for construction projects require Chapter 4115 prevailing wage rates to be paid. These bonds also require 0.00125 of principal amount as an issuance fee.
Bond Reserve Fund Taxable and Tax-exempt bonds Lorain County Port Authority   The Bond Reserve Fund is designed to provide long term fixed interest rate financing for qualified industrial, commercial and public infrastructure projects. It enables small and medium sized companies with the ability to access the national capital markets through a system of reserves that serve as credit enhancement
Port Lease Structured Finance   Lorain County Port Authority
Ron Twaning
440-328-2323		 Port Lease Structured Finance options are generally used for large scale projects. CAPITAL - A lease that meets one or more of the following criteria, meaning it is classified as a purchase by the lessee: the lease term is greater than 75% of the property's estimated economic life; the lease contains an option to purchase the property for less than fair market value; ownership of the property is transferred to the lessee at the end of the lease term; or the present value of the lease payments exceeds 90% of the fair market value of the property.

OPERATING - A lease for which the lessee acquires the property for only a small portion of its useful life. An operating lease is commonly used to acquire equipment on a short-term basis. Any lease that is not a capital lease is an operating lease.

SYNTHETIC - A transaction that appears as a lease from an accounting standpoint, but as a loan from a tax standpoint. The end results are an off-balance sheet account of the financing and the tax benefits that accompany the financed asset.
For More Information - http://www.loraincounty.us/website/index.asp

Cleveland+888-NEO-1411