Job Creation Tax Credit (JCTC) Program: Businesses that create at least 10 net new full-time jobs with a minimum annual payroll of $660,000 may receive a tax credit equal to a percentage of the state income tax withholdings for all newly hired employees. Qualified companies approved for this discretionary incentive will generally receive a credit ranging from 25% to 55% of state income tax withholdings for a period of 5 to 7 years. The credit can be used to offset up to 100% of a company’s commercial activity tax liability. If the value of the credit exceeds the tax liability in any given year, the State will provide a refund.
Research & Development Investment Tax Credit: This program provides a non-refundable credit equal to 7% of the amount of qualified research expenses in excess of the average investment in qualified expenses over the three previous tax years. Unused credits can be carried forward for up to 7 years.
JobsOhio Economic Development Grant: Discretionary grants are available to support manufacturing, R&D, high technology, corporate headquarters and distribution projects that involve substantial capital investment and job creation. Grant funds can be used for machinery and equipment purchase costs, new building construction and acquisition costs, infrastructure improvements and other fixed asset investments.
Personal Property Tax Exemption: All business personal property is exempt from property taxation in the state.
Sales Tax Exemption: Machinery and equipment used in the manufacturing process; material handling equipment used in warehouse and distribution facilities; equipment used for research and development purposes; and pollution control equipment are exempt from sales tax.
The Data Center Sales Tax Exemption: Data center operators that meet minimum investment and payroll thresholds may receive a full or partial sales tax exemption on the purchase of eligible equipment.
JobsOhio Workforce Grant: This program offers reimbursable grants of up to 50% (75% in targeted areas) of training costs. Eligible costs include instructor salaries, materials, travel and special needs. Additional grants are available for industrial and eligible administrative or office operations that create or retain jobs.
Updated May 2017