From Barclaycard to ODW Logistics, one of Inc. Magazine‘s 500 fastest growing companies, businesses in all sectors are choosing Hamilton, Ohio. We could list all of the reasons Hamilton is great, but we’d rather talk to you in person. We would love the opportunity to give you a tour and find a location that fits your needs. Give us a call at 513-785-7070 or email us at email@example.com.
There are a wide variety of business incentives available in Hamilton, Ohio. Each project is assessed individually for the particular incentives it qualifies for. Have questions or ready to talk to us about potential investments in our city? Contact us at 513-785-7070 or firstname.lastname@example.org.
Local Job Creation Tax Credit
The City of Hamilton Local Job Creation Tax Credit Program offers eligible companies a tax credit against their local corporate earnings tax. This program is similar to the Ohio Job Creation Tax Credit, with the exceptions that the tax credit is granted at the local level and it is a non-refundable credit.
Ohio Job Creation Tax Credit
The Job Creation Tax Credit is a refundable tax credit to companies generally creating at least 10 new jobs (within 3 years) with a minimum annual payroll of $660,000 and that pay at least 150% of the federal minimum wage.
The City of Hamilton may grant property tax incentives to enterprises that agree to establish, expand, renovate, or occupy a facility within a designated enterprise zone and agree to retain or create employment at the project’s location. The maximum allowable benefit to be extended to qualifying companies that does not require local school board approval is a 75%, 10-year real property tax exemption. Real property tax exemptions greater than 75%, 10 years, require local school board approval.
Revolving Loan Fund
The City of Hamilton’s Revolving Loan Fund (RLF) provides low interest loans for expansion projects by private, for-profit businesses occurring in Hamilton. Loans are made primarily for the purchase of machinery and equipment, although purchase, renovation and/or construction of buildings are also eligible. Butler County also has a revolving loan fund.
Tax Increment Financing
Tax Increment Financing (TIF) is an economic development mechanism available to local governments in Ohio to finance public infrastructure improvements. A TIF works by locking in the taxable worth of real property at the value it holds at the time the authorizing legislation was approved. Hamilton has enacted legislation to utilize TIF financing and often works with potential development to allow parcels to benefit from TIF financing.
Utility Development Agreement
With municipally owned and operated utilities, the City of Hamilton is not only one of Ohio’s lowest cost providers of electricity, natural gas, water and wastewater, but is also widely acknowledged for its superior quality. The City of Hamilton is committed to working with your company from the beginning to ensure that service to the site is ample and will explore ways to control and lower utility costs as you grow.
Design Assistance Program
The program provides business owners interested in renovating an existing or constructing a new building with a grant of up to 10% of the total project cost, to be used for professional architectural/technical services. The maximum grant amount is $10,000, based on availability of funds.
Butler County Port Authority
The Butler County Port Authority (BCPA) provides alternative financing options for medium and large-scale projects in Butler County. The BCPA collaborates and partners with executives, economic development professionals, financial professionals, and the business community to encourage economic development in Butler County and Southwest Ohio.
Butler County Land Reutilization Corporation
Better known as the Land Bank, the program provides the City an opportunity to demolish nuisance properties and to promote economic and housing development.
Butler County Ohio Means Jobs
OhioMeansJobs is able to provide cost savings to employers creating new jobs in Ohio. This includes savings associated with advertising job openings, recruiting candidates, distributing and accepting applications, pre-screening applicants, administering tests and assessments, and other pre-hire responsibilities required by the company.
OhioMeansJobs can potentially fund training costs for industry certification based on the employer’s needs, valued at $15,000 per individual. Additionally, the employer may be eligible for the On-the-Job Training grant (OJT). OJT helps employers hire and train unemployed workers for full-time, long-term employment. This program reimburses up to 50% of the wages earned while they learn the job, helping them develop the skills that they need to be successful. Total reimbursement is valued up to $8,000 per individual. For more information, check out their website here.