Incentives, Grants and Tax Credits

Below is a partial list of incentives, financing options, business grants and tax credits that are available to businesses in and moving to Northeast Ohio. For more information on what incentives, business grants, tax credits, and financing options your investment may be eligible for, please contact Cleveland+ Business.

Business Incentives

Ohio boasts an impressive menu of incentive offerings to attract and retain business. State and local tax incentives, grants and low-interest financing offer businesses the opportunity to reduce risk while encouraging investment in Ohio.

Tax Credits + Incentives

• Ohio Job Creation Tax Credit
• Ohio Job Retention Tax Credit(pdf)
• Ohio Research and Development Investment Tax Credit
• Training Tax Credit
• Ohio Wind Production & Manufacturing Incentive Program
• Ohio Manufacturing Machinery & Equipment Investment Tax Credit/Grant Program
• Technology Investment Tax Credit
• Research and Development Sales Tax Exemption
• Manufacturing Machinery & Equipment Sales Tax Exemption
• Warehouse Machinery & Equipment Sales Tax Exemption
• Warehouse Inventory Tax Exemption
• Enterprise Zones
• Community Reinvestment Areas

Business Grants

OhioResearch Commercialization Grant Program
The Ohio Research Commercialization Grant strives to improve the ability of small technology companies to assess and realize the commercial potential of research projects, and to promote the competitiveness of these companies through the augmentation of federal research and development funding. The Ohio Research Commercialization Grant is a primary component of Ohio technology company assistance.

Emerging technologies funding
Several additional grant opportunities are available for high-tech business initiatives, both in conjunction with higher education and other non-profit research institutions and for companies individually, as part of Ohio's investment in next-generation industry leaders.

Business grants are available through:

• Wright Centers of Innovation
• Wright Projects
• Biomedical Research and Technology Transfer Partnership Program
• Fuel Cell Program
• Validation Fund and Seed Fund Initiative
• Product Development Pilot Program

Business Development Grants
Business Development Grants are available to companies to defray investments in acquisition of machinery and equipment and other infrastructure improvement.

Alternative Fuel Transportation
Businesses are eligible to apply for business grant funding to assist the purchase and installation of alternative fuel facilities. Current fiscal year funding available is $900,000.

Northeast Ohio County Incentives, Tax Credits, and Grants Programs

• Ashland
• Ashtabula
• Carroll
• Columbiana
• Cuyahoga
• Geauga
• Lake
• Lorain
• Mahoning
• Medina
• Portage
• Richland
• Stark
• Summit
• Trumbull
• Wayne

Northeast Ohio Port Authority Financing

• Columbiana County Port Authority
• Cleveland Cuyahoga Port Authority
• Stark County Port Authority
• Summit County Port Authority

Foreign Trade Zone (40) and (181)

Foreign Trade Zones provide significant savings for global shippers, and are one reason that Ohio ranks number one in the US in number of exporting companies. Through the work of The Northeast Ohio Trade and Economic Consortium (NEOTEC) with Foreign Trade Zone 181, shippers can bring a bonded container from an East Coast port, clear Customs and return to the East Coast from Northeast Ohio faster than through the Port of New York.

• For FTZs in Columbiana, Mahoning, Medina, Portage, Stark, Summit, Trumbull, and Wayne counties, contact: NEOTEC (330) 672-4080, http://www.neotec.org/
• For FTZs in Cuyahoga, Lorain, and Ashtabula counties, contact: Cleveland-Cuyahoga County Port Authority (216) 241-8004, http://www.portofcleveland.com/