| Program Name | Type | Administrator | Program Description | Basic Requirements |
|---|
| Foreign Trade Zones |
|
Neotec & Columbiana County Port Authority |
Foreign and domestic merchandise may enter the zone without a formal customs entry or the payment of customs duties and be exempt from federal and state use/excise and personal property taxes. There are two types of zones—general purpose and sub-zone. A general purpose zone includes multiple activities by multiple users, like an industrial park. A sub-zone is a one user plant or facility. |
Any qualified business located in Leetonia, East Liverpool, or Wellsville can take advantage of the benefits of the FTZ. |
| Enterprise Zone Tax Incentives |
Tax exemptions |
The local government in which the business is located. |
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.
Columbiana County is considered a Distressed Enterprise Zone. |
Any business enterprise within a Columbiana County Enterprise Zone (Leetonia, East Palestine, East Liverpool) is qualified to apply for an exemption. Businesses must apply directly to the municipality which is the site of the new investment. Must negotiate and execute a Workforce Cooperation Agreement with the County, which designates the county as the first source of referral for mutually agreed entry-level positions at the company.
Establishing a new business is defined as making a significant investment in land, buildings, machinery, or equipment. Expansion projects must make investments that equal at least 10% of the value of the existing facility. In addition, the law permits incentives for a business to renovate an existing facility if the renovations exceed 50% of the facility's value. A business willing to occupy a vacant facility and invest at least 20% of the facility's value to alter or repair the facility is considered eligible for tax incentives |
| Community Reinvestment Areas |
Tax reduction on real property taxes |
Local Communities |
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. |