Is Your Company Eligible for the JobsOhio R&D Center Grant?
JobsOhio grant helps corporations invest in new R&D centers
Andrew Deye, managing director, JobsOhio•Thu Aug 02 2018
Ohio has always been home to invention. Whether it’s being the birthplace of flight, the traffic signal, the light bulb or Teflon, Ohio has invariably had pioneers driving the research, development and commercialization of new methods and products to improve what is and discover what is yet to be. Through the passion, dedication and hard work of the people in Ohio, innovation has been happening for generations and JobsOhio is facilitating its continuation. JobsOhio’s Research & Development (R&D) Center Grant program helps established companies explore and commercialize new ideas.
The funding is not a tax credit, and companies have no expense on their part – other than investing in Ohio. The R&D Center Grant is just that – a grant. Companies receive this money specifically to facilitate R&D that will generate a return on investment for them, Ohio and the future of the specified industry.
The reality is, not every company has the means nor the capacity for R&D. That’s limiting a lot of brilliant minds and ideas. When JobsOhio implemented the R&D Center Grant in mid-2016, we wanted to give these companies an opportunity to turn their visions into real breakthroughs.
Since 2016, eight companies have announced new R&D Centers with the support of a JobsOhio R&D grant, all of which operate in at least one of JobOhio’s nine industries and show promising return on investment for Ohio, among other qualifications.
To help you determine if you qualify for the grant, please review the following criteria.
- Are you in Ohio or do you intend to invest in Ohio?
- Have you been operating for at least 5 years?
- Do you have an annual revenue of at least $10 million?
- Are you operating in one of the following industries? Advanced Manufacturing, Aerospace and Aviation, Automotive, Energy and Chemicals, Financial Services, Food and Agribusiness, Information Technology (IT), or Logistics and Distribution.
- Will your center represent at least $3 million in new cash investment by your company?
- Do you anticipate your R&D center will create at least five new jobs over five years?
- Do you anticipate carrying out R&D operations in Ohio for at least 10 years?
If you have questions or want to apply, contact us to learn more. We look forward to potentially working with you.