INCENTIVES
 Ohio Job Creation Tax Credit Program
The Ohio Job Creation Tax Credit Program provides a refundable tax credit against a company's
corporate franchise or income tax based on the state income tax withheld from new, full-time
employees. The Ohio Tax Credit Authority (Authority), a five-member independent board consisting
of taxation and economic development professionals from throughout the state, is responsible for
reviewing and approving applications for tax credit assistance and setting the benefit level. The
Authority also has oversight responsibilities that include monitoring and reporting the progress of
approved tax credit projects.
Office of Tax Incentives (Ohio Department of Development) (614) 466-2317 or (800) 848-1300
http://www.development.ohio.gov/Business/jctc/
 Ohio Research and Development Tax Incentive
Provides a nonrefundable tax credit against the corporate franchise tax and is designed to encourage
Ohio’s corporations to invest in increased research and development activities. The credit equals 7%
of the excess amount of Qualified Research Expenses.
Office of Tax Incentives (Ohio Department of Development) (614) 466-2317 or (800) 848-1300
http://development.ohio.gov/Business/Tax_Credit.htm
 Ohio Manufacturing Machinery & Equipment Investment Tax Credit
Provides a nonrefundable corporate franchise or state income tax credit for manufacturer located in
Ohio that purchases qualified new or retooled machinery and equipment that is used in
manufacturing.
Office of Tax Incentives (Ohio Department of Development) (614) 466-2317 or (800) 848-1300
http://development.ohio.gov/Business/Tax_Credit.htm
 Ohio Community Reinvestment Area (CRA) Program
The Ohio Community Reinvestment Area program is an economic development tool administered
by municipal and county governments that provides real property tax exemptions to businesses
making investments in Ohio.
See Chapter 892 Community Reinvestment Areas on the City of Northwood’s website
www.ci.northwood.oh.us , click on City Departments- Zoning- Forms/Information, under Other
Information click on Zoning Code. Search “Chapter 892” to obtain more information.
Questions call (419) 693-9329 and ask for Bob Anderson, City Administrator
or Kimberly Vaculik, Planning, Zoning & Economic Development Coordinator
or
Office of Tax Incentives (Ohio Department of Development) (614) 466-2317 or (800) 848-1300
http://development.ohio.gov/Business/Tax_Credit.htm
INCENTIVES (PG2)
 Ohio Enterprise Zone (EZ) Program
Provides real and personal property tax incentives for businesses that expand or locate in Ohio.
See Chapter 888 Enterprise Zone on the City of Northwood’s website www.ci.northwood.oh.us ,
click on City Departments- Zoning- Forms/Information, under Other Information click on Zoning
Code. Search “Chapter 888” to obtain the information.
Questions call (419) 693-9329 and ask for Bob Anderson, City Administrator
or Kimberly Vaculik, Planning, Zoning & Economic Development Coordinator
or
Office of Tax Incentives (Ohio Department of Development) (614) 466-2317 or (800) 848-1300
http://development.ohio.gov/Business/Tax_Credit.htm
 Industrial Development Bonds
Municipal bond issued by a state or local government, or by a development agency, to finance the
private industrial projects generating tax revenues and certain public works projects. These bonds are
of two types: development bonds financing the renovation or improvement of public facilities, and
industrial revenue bonds, for which a private corporation is responsible for payments to bondholders.
Industrial bonds are subject to special IRS rules governing the tax exemption of interest.
See Ohio Revised Code Chapter 165
http://codes.ohio.gov/orc/165
 Direct (166) Loan
The 166 Direct Loan Program was created to promote economic development, business expansion
and, job creation by providing financial assistance for eligible projects in the State of Ohio. The
Ohio Department of Development’s 166 Direct Loan Program provides low-interest loans to
businesses willing to commit to creating new jobs or preserving existing employment opportunities
in the State of Ohio.
Office of Tax Incentives (Ohio Department of Development) (614) 466-2317 or (800) 848-1300
http://development.ohio.gov/Business/loans_grants.htm#166DR