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Incentives
Ohio has a number of incentive programs available to companies locating in or expanding within the state.
Read below to learn about the different programs available to companies interested in locating in Vectren’s west central Ohio service area, or read the Ohio Department of Development’s Business Incentives Guide for a comprehensive listing of all programs offered in Ohio.
Loans & Bonds
166 Direct Loan
Loan program for land and building acquisition; expansion or renovation; and equipment purchases.
Innovation Ohio Loan Fund Program
Program that provides loans for the acquisition, construction and related costs of technology, facilities and equipment purchases.
Ohio Enterprise Bond Fund
Bond fund that provides loans for land and building acquisition, construction, expansion or renovation and equipment purchases for eligible businesses.
Regional 166 Direct Loan
Loan program for land and building acquisition, construction, expansion or renovation and equipment purchases for eligible businesses. Administered by 12 local economic development agencies.
Research & Development Investment Loan Fund
Fund that provides loans for research and development activities.
Rural Industrial Park Loan
Program that offers direct loans and loan guarantees to rural, distressed local communities and other eligible applicants committed to creating well-planned industrial parks.
Urban Redevelopment Loan
Loan program that provides low interest loans to municipalities or designated nonprofit economic development organizations to acquire real estate for assembly into developable parcels and remediate any brownfield contamination site to entice private business investment in distressed urban locations.
Volume Cap
Provides eligible issuers the ability to issue tax exempt Private Activity Bonds up to a state limit known as “Volume Cap” that is determined annually on a per capita basis for projects consisting of multi-family housing, single-family housing, exempt facilities, manufacturing and student loan bonds.
Tax Credits
Ohio Job Creation Tax Credit
A refundable tax credit offered to companies creating at least 25 new full-time jobs in Ohio, as well as to certain high-wage industries creating 10 or more new full-time jobs within three years.
Ohio Job Retention Tax Credit
Provides corporate franchise or state income tax credit for businesses that commit to retaining a significant number of full-time jobs in Ohio.
Ohio Research & Development Investment Tax Credit
A non-refundable Ohio commercial activity tax credit for all investment in qualified research expenses incurred in Ohio by eligible “C” corporations.
Ohio Manufacturing Machinery & Equipment Grant / Investment Tax Credit
Program that provides a non-refundable corporate franchise or state income tax credit for a manufacturer located in Ohio that purchases qualified new or retooled machinery and equipment that is used in manufacturing.
Technology Investment Tax Credit
Tax credit that offers a variety of benefits to Ohio taxpayers that invest in small research and development and technology-oriented firms.
For additional information about Ohio tax exemptions programs, visit the Ohio Department of Development’s Office of Tax Incentives.
Workforce
Ohio Workforce Guarantee
Program that supports companies making investments in facilities, equipment and training that result in the retention and creation of jobs for Ohioans.
Ohio Third Frontier Internship Program
Program that links Ohio students with rewarding internship opportunities in Ohio’s private sector business community.
