Job Creation Tax Incentive
The Job Creation Incentive Program (JCIP) is a local business incentive designed to boost development inside the corporation limits of the participating communities. The program offers a tax credit redirecting a portion of the local municipal income tax back to companies that create jobs. The City of Kenton now offers this incentive for new and existing businesses within its city limits.
Enterprise Zone Program
Designed to encourage manufacturing and industrial development, the Enterprise Zone is a program that forgoes a negotiated percentage of taxes for the real and personal property that is involved in the expansion. The enterprise zone law in the State of Ohio allows tax abatement's of up to 75 percent for ten years for enterprises locating or expanding in cities and villages and 60 percent for those locating in unincorporated areas (without school board approval). Currently there are three designated enterprise zones located in Kenton, Ada and Forest, Ohio.
Foreign Trade Zone #151
Hardin County has the opportunity to be an extension of the Foreign Trade Zone in Findlay, Ohio (#151). It provides users with the opportunity to lower costs and boost profits. It can improve cash flow by delaying, reducing, or eliminating duties.
Workforce Investment Act (OJT)
On the Job Training (OJT) is a federally funded program that assists employers with hiring and training for long-term employment. This is an opportunity for employers to recruit, pre-screen, hire new employees, and train them. The employer is reimbursed for the cost of training per hire, as funding sources remain available.
Toledo-Lucas County Port Authority Funding Programs
Toledo-Lucas County Port Authority has developed a national reputation for innovative business financing, assisting over 340 economic development projects representing a total investment of more than $1.9 billion while helping to create and retain nearly 18,500 jobs.
Financing Programs Include:
- Fixed Interest Rate Revenue Bonds
- Off-Balance Sheet Transactions
- Infrastructure Financing
- Conduit Revenue Bonds
- Ohio 166 Regional Loan Program
- Small Business Administration 504 Loan Program
- Brownfield Redevelopment Programs