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


  • Urban Redevelopment Loan
  • Energy Efficiency Revolving Loan Fund
  • Capital Access Program
  • Brownfields Economic Development Initiative

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.

Economic Development Department
258 East Market Street
Suite 305
Warren, OH 44481
Ph: (330) 841-2595
Fax: (330) 841-2643

Office Hours

Monday – Friday
8:00 AM – 4:00 PM

Staff Contacts

Michael Keys,
(330) 841-2565
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