Ohio Business Incentives
166 Loan – State loan program. Both Direct Loans and Regional Loans are available. This loan fund requires the creation of one job for every $15,000 received. Ohio prevailing wage rate applies.
- Direct Loan – Can fund up to 30% of the eligible costs. $350,000 to $1 million, two thirds of prime fixed for 5 to 15 years, minimum of 10% owner equity required.
- Regional Loan – Can fund up to 40% of the eligible costs. Maximum of $350,000, rate negotiable 5 to 15 years, minimum 10% equity required.
State of Ohio Minority Direct Loan – Loans for improvement or purchase of fixed assets for state certified minority-owned businesses. Covers up to 40% of total project costs. 4.5% fixed up to 15 years. Equity required.
Innovation Ohio Loan Fund – New state program to assist existing companies in pursuing viable business opportunities in high wage, high growth industries. Can finance up to 75% of costs, $250,000 to $5 million for 4 to 7 years at anywhere from prime plus 2% to prime plus 4%.
Additional Statewide Business Incentives
Loans
- Urban Redevelopment Loan
- Energy Efficiency Revolving Loan Fund
- Capital Access Program
- Brownfields Economic Development Initiative
Tax Abatements
- Ohio Job Creation Tax Credit
- Research and Development Sales Tax Exemption
- Tax Increment Financing (TIF)
Other Programs
- Foreign Trade Zone
- Ohio Industrial Training Program
- Ohio Employee Ownership Feasibility Study Grant Fund
Note: The availability and type of State of Ohio business incentives are subject to change by the Ohio Department of Development.
258 East Market Street
Suite 305
Warren, OH 44481
Ph: (330) 841-2595
Fax: (330) 841-2643
Office Hours
Monday – Friday
7:30 AM – 4:00 PM
Staff Contacts
Michael Keys,
Director
(330) 841-2565
mkeys@warren.org
Anthony Iannucci, Jr.
Executive Director
(330) 841-2566
aai@wrapcorp.org