State Incentives & Resources
Whether you are a startup looking to scale, a company seeking to relocate or an existing business with expansion needs, New Albany is committed to working closely with your team, JobsOhio, and State agencies to provide the best value to your company. Incentives are often based on project factors including out of state competition, job creation, payroll figures, fixed-asset investment commitments, project location and expected return on investment.
The 166 Direct Loan Program provides capital for expansion projects to companies that have limited access to capital and funding from conventional, private sources of financing. Learn more.
The Regional 166 Direct Loan Program promotes economic development, business expansion, and job creation and/or retention by providing low interest loans to businesses who may have limited access to adequate capital from private sources of financing. Learn more.
The Collateral Enhancement Program (CEP) provides lending institutions with cash collateral deposits to use as additional collateral for loans made to eligible for-profit small businesses. Under the CEP, the State will open an interest-bearing account with a lender and deposit up to 50% of the proposed loan amount where there is a collateral shortfall as determined by the lender and the State. Learn more.
The State of Ohio’s Data Center Tax Abatement provides a sales-tax exemption rate and terms that allow for partial or full sales tax exemption on the purchase of eligible data center equipment. Learn more.
Small businesses and manufacturers may qualify for assistance from the Energy Loan Fund to implement energy efficiency improvements to lower energy use and costs. Eligible applicants receive low-interest financing to install efficiency measures that reduce energy by at least 15 percent. Technical assistance is also available to facilitate the required energy audit for potential applicants. Learn more.
The Innovation Ohio Loan Fund promotes assistance to existing companies in developing next generation products and services within certain Targeted Industry Sectors. Learn more.
The JobsOhio Economic Development Grant promotes economic development, business expansion and job creation by providing funding for eligible projects in the state. Learn more.
The JobsOhio Growth Capital is intended to allocate individual investments ranging from $25,000 to $3 million to Ohio-based early-stage venture-backed companies. Learn more.
The JobsOhio Growth Fund Loan provides capital for expansion projects to companies that have limited access to capital or funding from conventional or private sources. Learn more.
The JobsOhio Inclusion Grant provides financial support for eligible projects in designated distressed communities and/or for businesses owned by underrepresented populations. Learn more.
JobsOhio Research & Development Center Grants facilitate new strategic corporate R&D centers in Ohio that develop and commercialize emerging technologies and/or products. Learn more.
The JobsOhio Revitalization Program Loan and Grant Fund supports the acceleration of sites where the cost of the redevelopment and remediation are more than the land value. Learn more.
The Talent Acquisition Services program has been developed to identify a company’s talent challenges and build sustainable talent recruitment strategies. Learn more.
The JobsOhio Workforce Grant promotes economic development, business expansion, and job creation by providing funding to improve worker skills and abilities. Learn more.
Roadwork Development grants are available for public roadway improvements, including engineering and design costs for projects that create or retain jobs. Learn more.
The Research and Development Investment Loan provides low-interest loans partnered with a tax credit to businesses that create R&D capabilities and high-wage jobs. Learn more.
The Ohio Capital Access Program (OCAP) is a loan portfolio insurance program (similar to a loan guarantee) that enables small businesses to obtain credit to help them grow and expand their businesses. Learn more.
The Ohio Enterprise Bond Fund, rated AA+ by Standard & Poor’s, promotes economic development, business expansion and job creation by providing financial assistance for allowable costs. Learn more.
IMAGE provides eligible companies a 50% reimbursement of up to $10,000 in
grant funds (i.e., 50% of $20,000 in eligible expenses) to engage in activities to increase export sales. Learn more.
The State of Ohio’s Job Creation Tax Credit is a refundable and performance-based tax credit calculated as a percent of created payroll and applied toward the company’s commercial activity tax liability. Learn more.
The Ohio Minority Business Bonding Program provides bid, performance, and payment surety bonds to state certified minority-owned businesses that are unable to obtain bonding through standard surety companies. Learn more.
The Ohio Minority Business Direct Loan Program provides fixed, low-interest rate loans to certified minority-owned businesses that are purchasing or improving fixed assets and creating or retaining jobs. The loans can be used to finance up to 40 percent of the project value and require participation by another lender. Learn more.
To accelerate the creation and growth of investable and scalable technology and tech-enabled companies, the Ohio Third Frontier provides access to essential business assistance, capital and talent resources. The Ohio Third Frontier is a thriving statewide community of expert people and organizations dedicated to increasing the odds of success of your entrepreneurial enterprise. Learn more.
The Transformational Mixed-Use Development Program provides a tax credit against Development costs incurred during the construction of a project that will be a catalyst for future development in its area. Learn more.