Home > Economic Development > Ohio Business Incentives

Ohio Business Incentives

166 Loan – State loan program. Both Direct Loans and Regional Loans are available. This loan fund requires the creation of one job for every $15,000 received. Ohio prevailing wage rate applies.

  • Direct Loan – Can fund up to 30% of the eligible costs. $350,000 to $1 million, two thirds of prime fixed for 5 to 15 years, minimum of 10% owner equity required.
  • Regional Loan – Can fund up to 40% of the eligible costs. Maximum of $350,000, rate negotiable 5 to 15 years, minimum 10% equity required.

State of Ohio Minority Direct Loan – Loans for improvement or purchase of fixed assets for state certified minority-owned businesses. Covers up to 40% of total project costs. 4.5% fixed up to 15 years. Equity required.

 

Innovation Ohio Loan Fund – New state program to assist existing companies in pursuing viable business opportunities in high wage, high growth industries. Can finance up to 75% of costs, $250,000 to $5 million for 4 to 7 years at anywhere from prime plus 2% to prime plus 4%.

 

Additional Statewide Business Incentives

Loans

Tax Abatements

Other Programs

  • Foreign Trade Zone
  • Ohio Industrial Training Program
  • Ohio Employee Ownership Feasibility Study Grant Fund

Note: The availability and type of State of Ohio business incentives are subject to change by the Ohio Department of Development.