Incentives & Resources
Local Incentives for Union City Indiana:
Revolving Loan Fund:
This fund is designed to bridge the gap between personal equity and bank financing. Loans are made at a rate lower than a financing institution.
This incentive is offered on property and equipment for new businesses or those who are expanding and diversifying their operations.
Economic Development for a Growing Economy Tax Credit (EDGE)
The Economic Development for a Growing Economy (EDGE) is a refundable tax credit program that rewards companies for creating jobs and contributing to the growth of Indiana’s economy. EDGE credits are calculated as a percentage of payroll tax withholding for net new Indiana jobs. EDGE credits may be awarded for a period of up to 10 years.
Hoosier Business Investment Tax Credit (HBITC)
This program encourages capital investment in Indiana by providing a credit against a company’s Indiana tax liability. The credit amount is based on a company’s qualified capital investment with the final credit amount determined by the Indiana Economic Development Corporation, based on an analysis of the economic benefits of the proposed investment.
Industrial Development Grant Fund (IDGF)
This grant provides money to local governments for off-site infrastructure projects associated with an expansion of an existing Indiana company or the location of a new facility in Indiana. State funding through the IDGF program must be matched by a combination of local government and company financial support.
Skills Enhancement Fund (SEF)
The Skills Enhancement Fund (SEF) provides financial assistance to businesses committed to training their workforce. Trainees must be Indiana residents. SEF reimburses eligible training expenses over a two-year term. Companies may reapply for additional SEF funds after their initial two-year term. IEDC typically does not provide reimbursement for training that is required by law.
Local Incentives for Union City Ohio:
Realizing the importance of business and industry, our communities have taken a proactive approach toward economic development. Darke County Communities can offer a very competitive incentive package to businesses that invest and create jobs in the community.
Enterprise Zones and CRAs (Community Reinvestment Areas) are available in areas seeking to attract business and industry. Other local incentives include State or County low-interest loans that may be available for your business project.
Ohio Enterprise Zones
The Enterprise Zone Program offers exemptions on real property or new tangible personal property for up to 10 years for eligible projects. Enterprise Zone agreements are negotiated with the local legislative authority and the actual percentage of abatement usually depends on the dollars invested and the number of jobs created or retained. Other considerations include projected payroll, infrastructure needs, as well as other factors. Only non-retail businesses can qualify for Enterprise Zone abatements.
Established enterprise zones exist in Union City. For more information, contact John Greendyke or Bonita Bey at 937-548-4131.
Ohio Job Creation Tax Credit
State and municipal tax incentives are available for businesses that expand or locate in Ohio. State guidelines regulate the type of business and project eligible for the incentive. Businesses must agree to create at least 25 new, full-time jobs within three years of operations and pay at least 150% of the current federal minimum wage. Other eligibility requirements must be met to qualify. Contact Darke Economic Development for more information. For more information, contact John Greendyke or Bonita Bey at 937-548-4131.
Ohio Machinery & Equipment Investment Tax Credit
This non-refundable corporate franchise or state income tax credit is for eligible manufactures that purchase new machinery and equipment that is located in Ohio and is used in the production or assembly of a manufactured good. The 7.5% tax credit is based on the increase of investment which is in excess of the three year annual average investment on machinery and equipment. Contact Darke Economic Development for eligibility details. For more information, contact John Greendyke or Bonita Bey at 937-548-4131.
Ohio Investment in Training Program (OITP)
Provides financial assistance and technical resources for customized training involving employees of new and expanding Ohio businesses. Up to 50 percent reimbursement for manufacturing and selected business sectors. Company must make a significant capital and training investment related to creating and retaining jobs. For more information, contact John Greendyke or Bonita Bey at 937-548-4131.
One-Stop Workforce Development
Darke County Workforce Development (DCWD) is a partnership bringing together state, county and private employment and training services. DCWD can assist your company in employee recruitment, job screening, skill assessment and skills matching. Additional services include training services, labor market information and special programs catered to the individual needs of your business. For more information, contact John Greendyke or Bonita Bey at 937-548-4131.
Business Capital/Financing for Ohio
- The Darke County Revolving Loan Fund (RLF) This loan fund works in partnership with local lenders to provide financing to business and industrial projects. Interest rates are below market based on necessary and appropriate needs of the borrower. Loan amounts can be up to 50% of a total project; a maximum of $25,000 per job created or retained. Other qualification terms apply. Additional RLF information.
- County Corporation is a Community Development Corporation offering SBA 504 Loans and Ohio Department of Development Regional 166 Loans to businesses in the Greater Dayton Region, including Darke County and Union City. Visitwww.countycorp.com
- Improves regional industrial competitiveness by leveraging federal & state funds to encourage long-term economic growth with focus on the aerospace/automotive industries, defense conversion & dual-use technology initiatives. www.ncicfund.org
Miami Valley Venture Association
- Miami Valley Venture Association (MVVA) - provides a support mechanism for local entrepreneurs, raises the awareness of venture capital and promotes the interaction between emerging business and regional financial resources. Phone 937-228-1141
Federal Grants & Incentives:
USDA Rural Development Grants
Rural business and cooperative development grants are available, as well as grants and loans for renewable energy. Information: http://www.rurdev.usda.gov/rbs
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