We are excited about the development occurring in Hamilton’s urban core and in our commercial parks. If you’re interested in learning more about doing development in Hamilton, we would love to hear from you. Call 513-785-7070 or email us at econdev@hamilton-oh.gov for more information.

Investing in Hamilton

There are many opportunities to invest in Hamilton. There are three major hubs of development opportunity in the city – downtown development, industrial development in Hamilton Enterprise Park, and commercial and residential development in University Commerce Park.

Downtown
There has been a lot of redevelopment in downtown Hamilton in the past five years but there are still many opportunities left. The City is in the process of designating downtown Hamilton as a nationally recognized historic district, paving the way for future state and federal historic preservation tax credit projects. There is a significant emphasis on the revitalization of the historic Main Street business district. For developers interested in new construction, there are a number of city-owned parcels in prime locations that are ideal for new development. Check out the downtown development brochure to get a sense of some of the potential projects that exist in downtown Hamilton. We would love an opportunity to talk to you further about doing a project in downtown Hamilton. Connect with us at 513-785-7070 or econdev@hamilton-oh.gov. CORE, Hamilton’s non-profit redevelopment corporation, is also a great point of contact. CORE owns a variety of residential, mixed use, and commercial buildings and is seeking developers, businesses, and residents to partner with to complete projects.

Enterprise Park
There is approximately 170 acres of undeveloped land remaining in Hamilton Enterprise Park. It is already home to a number of companies, including Neturen, Synergy Flavors, and TriHealth Bethesda Butler Hospital. To learn more, check out the Hamilton Enterprise Park tab under Business Hubs.

University Commerce Park
University Commerce Park is the newest of Hamilton’s business parks, home to approximately 60 acres of municipally-owned, undeveloped land across from Vora Technology Park and Miami University Hamilton. Given its proximity to the 4,000+ students at Miami Hamilton and the Vora employment base, the area is ripe for both commercial and residential development.

Real Estate Incentives

Enterprise Zone
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.

Community Reinvestment Area
The Community Reinvestment Area (CRA) offers property owners a property tax abatement on property improvements. Up to 50% of the improved value can be abated for up to twelve years. Property owners submit an application to the City of Hamilton prior to construction or remodeling. For more information, check out the program brochure here. You can find the commercial application here.

Utility Development Agreement
With municipally owned and operated utilities, the City of Hamilton is committed to working with companies making an investment in Hamilton.

Main Street Upper Floor Residential Rehabilitation Program

The City of Hamilton launched a new program in January 2016 called the Upper Floor Residential Rehabilitation Program. The program seeks to foster private development on Main Street. The program will assist owners of mixed use buildings on Main Street with the redevelopment of upper floor space into high-quality rental housing. The matching grant is up to $20,000 per unit with a maximum grant of $80,000 for each project. For more information or to request an application, contact Liz Hayden.

Ohio Historic Preservation Tax Credit
Three of Hamilton’s downtown projects have received State tax credits, which is a 25% tax credit distributed on a competitive basis. The new downtown historic district will streamline the process.

Federal Historic Rehabilitation Tax Credit
The National Parks Service provides a 20% tax credit to all qualifying projects.

New Market Tax Credit
Most of the City of Hamilton is eligible for New Market Tax Credits.

Local and State Job Creation Tax Credit
If there is a jobs component for the project, it could be eligible for Local and State Job Creation Tax Credits.

Each project is different and we would love to talk and provide a specific incentive package for any potential project. Connect with us at 513-785-7070 or econdev@hamilton-oh.gov.

 

Efficiency Smart

Hamilton Utilities has partnered with Efficiency Smart to offer a comprehensive energy efficiency program to Hamilton utility customers. There is no cost to participate in the program. Efficiency Smart provides technical assistance and financial incentives, which allow for the implementation of energy-saving improvements to Hamilton’s homeowners, renters, small to medium-sized businesses, institutions, and large commercial and industrial customers. There are many components of Efficiency Smart that could help small businesses, including rebates for energy-efficient products and discounts on energy-efficient lighting. For more information, check out the website here. You can email info@efficiencysmart.org to set up an appointment or for more information.