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Union City Indiana Local Incentives | Union City Ohio Local Incentives
Indiana Incentives | Ohio Incentives | Federal Grants and Incentives
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.
Tax Abatement: This incentive is offered on property and equipment for new businesses or those who are expanding and diversifying their operations.
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.
Indiana Incentives
Indiana Department of Workforce Development TAG program
The Indiana Department of Workforce Development offers Training Acceleration Grants to new and expanding businesses.
21st Century Research and Technology Fund -
This fund's goal is to enhance the commercial development of new technologies and related businesses, and encourage the creation of partnerships between universities and businesses. These partnerships will thrive in turning research ideas into products, thus creating new jobs for Indiana communities.
Certified Technology Park Program -
This program encourages the development and attraction of high-technology businesses to Indiana.
Clean Energy -
Indiana's Clean Energy program provides credits to companies that participate in high energy efficiency and renewable energy projects.
Economic Development for a Growing Economy (EDGE) Tax Credit -
This program rewards companies that create new jobs and contribute to the growth of Hoosier income.
Hoosier Business Investment Tax Credit (HBITC)
This program provides a credit against a company's state tax liability to encourage capital investment in Indiana.
Industrial Development Grant Fund (IDGF)
This grant fund provides financial support for infrastructure improvements in conjunction with projects that create jobs and generate capital investment in Indiana.
Venture Capital Investment Tax Credit
This program assists Indiana companies in raising capital by offering a tax incentive to individual and corporate investors.
Industrial Development Grant Fund (IDGF)
This grant provides money to local government for infrastructure projects associated with expansion of an existing Indiana company or the location of a new company in Indiana. A local match is required.
Industrial Recovery Tax Credit -
This tax credit provides an incentive for companies to invest in existing facilities requiring significant rehabilitation or remodeling expense. The facility must be determined to be an industrial recovery site by the state.
Skills Enhancement Fund (SEF) -
The SEF program provides reimbursement to companies for training expenses to encourage companies to invest in their existing workforce and train new employees.
Shovel Ready Program
The Shovel Ready Program certifies sites as ready for immediate development. This program aids companies in locating and developing sites as quickly as possible for business opportunities. Information: http://www.in.gov/iedc/188.htm
Technology Enhancement Certification for Hoosiers (TECH)
This program assists Hoosier companies meet the growing demands of the new information economy by helping workers gain the newest technology skills.
Ohio Incentives
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 Corp.
- 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
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Miami Valley Venture Fund and Venture Fund II
- These venture capital funds were established to provide a potential source of capital, education and management assistance for young established businesses in the Greater Dayton Region. For more information, contact the Miami Valley Economic Development Coalition
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NCIC Fund
- 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
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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