Among the many state of Ohio grants available for business, the Economic Development Grant promotes economic development, business expansion, and job creation.
Ohio’s competitive and profitable business climate makes it easier for companies to start, relocate, or expand in the state. JobsOhio offers many incentives, grants, and other programs to assist companies that are locating or expanding operations. The Economic Development Grant promotes economic development, business expansion, and job creation by providing funding for eligible projects throughout the state.
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Who Is Eligible for an Economic Development Grant?
Grant decisions are based on several project factors, including but not limited to job creation, additional payroll, fixed-asset investment commitment, project return on investment, and project location.
The program requires the creation of jobs within a specified period and may consider the amount of proceeds per job created. JobsOhio may consider providing assistance for eligible projects that improve operational efficiencies or production expansion, along with the retention of jobs.
The program includes projects by companies engaged in JobsOhio’s targeted industries and business functions. JobsOhio will set a wage floor based on multiple wage considerations. Ineligible projects include but are not limited to retail and other population driven businesses.
The JobsOhio Economic Development Grant focuses on fixed-asset and infrastructure investment by companies, which may include the following:
- Leasehold improvements
- Machinery and equipment
- Moving and relocation costs of machinery and equipment (freight shipping) related to the project
- Infrastructure including utility, telecommunications, information technology, etc.
- Site development
- Fees and material costs related to planning or feasibility studies
- Engineering services
- Software development
- Bonds or other debt instruments issued by Grantee to finance completion of the site improvement project shall not be retired or otherwise serviced with grant funds
- Administrative costs (including salaries and travel expenses)
- Rolling stock (defined as anything that has to be registered with a government entity and/or travels on a public right-a-way)
- Contributions and donations by the Grantee to individuals or to other organizations
- Costs (fines, penalties, assessments) resulting from violation of or failure to comply with federal, state, and local laws and regulations
- Food, drinks and entertainment
- Goods and services for personal use by the Grantee’s employees
- Long-term housing expenses
- Interest on borrowed money
- Organized fundraising
- Travel expenses
- Taxes from which the Grantee is normally exempt
- Lease and rent payments
JobsOhio Growth Fund
Capital for expansion projects to companies with limited conventional funding.
JobsOhio Workforce Grant
Funding for employee development and training programs.
Research & Development
The R&D Investment Loan Fund provides loan financing from $500K to $5 million.
Disbursement of Funds
The JobsOhio Economic Development Grant is reimbursement-based and requires supporting documentation.Our team of experts can help guide you.