Financial Assistance To Help Business Grow
Published: Tue Apr 25 2023
JobsOhio’s unique economic development model empowers businesses and individuals to thrive in one of the largest economies in the world, the beloved home to many of you, and the best place to base or grow your business – Ohio. With our strategically structured Incentive Grant Programs, JobsOhio serves as a catalyst for job creation and capital investment in the state.
Our wide range of performance-based grant programs targets companies looking to relocate or expand in Ohio. Whether you’re an early-stage company, an established company, or part of an underrepresented population, we have programs intricately designed to help you achieve your goals and take your business to the next level.
These grants are transformational for businesses looking to grow in Ohio, and we treat them as such, closely evaluating grant recipients and providing personalized plans to the chosen businesses along the way. Grants are based on several factors, including company location, ownership, jobs created and/or retained, and project fixed asset investment. Eligible projects primarily include companies engaged in JobsOhio’s 10 targeted industries and must be financially sound. The bottom line for JobsOhio is simple: every project MUST deliver a positive ROI on total invested incentives through the increased payroll taxes collectible from the new Ohio-based jobs created.
Our Growth Fund Loan is ideal for companies that need capital for expansion projects but have limited access to conventional financing. If that doesn’t match your specific needs, our Inclusion Grant Program is designed to support projects in distressed communities and businesses owned by underrepresented populations, such as minorities, women, veterans, and people with disabilities.
For businesses looking to make fixed-asset and infrastructure investments, our Economic Development Grant Program is the perfect fit. This program provides funding for improvements like land, building, and leasehold enhancements. We also offer a Site Inventory Program that preps and vets prime sites for large-scale industrial development, making our state more competitive for reactive site selection projects. We can even help bridge the gap between the cost of brownfield sites and the cost of site remediation with our low-risk revitalization program loan that is specifically designed to accelerate brownfield redevelopment projects.
If you're looking to improve your workforce, our Workforce Grant provides funding to enhance worker skills and abilities throughout the state. And for companies involved in developing emerging technologies or products that align with JobsOhio's targeted industries, our Research & Development (R&D) Center Grant Program offers support for commercialization and growth.
Any one of these incentives can motivate you to locate your business in Ohio, but you’ll soon discover countless additional incentives the state offers everyone – including our low cost of doing business, sensible regulatory environment, job-ready workforce, and superb quality of life available everywhere from our big cities to small towns.