Incentive Information in the Cincinnati Region
INCENTIVE INFORMATION
The REDI Cincinnati team is available to talk about the incentives below and additional incentives that may be available to your company. Connect with Kevin Donnelly, vice president, project management at 513-562-8463 to learn more.
Ohio Incentives
- Community Development Block Grant Loans (CDBG) – provides federally funded, low-interest loans through the Department for Local Government
- Innovation Ohio Loan Fund – provides loans for acquisition, construction, and related capital costs for technology, facilities, and equipment purchases
- JobsOhio Economic Development Grant – promotes development, business expansion, and job creation by providing funding for eligible projects in the State of Ohio
- JobsOhio Growth Fund Loan – provides capital for expansion projects to companies that have limited access to capital and funding from conventional, private financing sources
- JobsOhio Revitalization Program – offers loans and grants to revitalize sites in preparation for end-users who will create jobs in the State of Ohio
- Ohio Enterprise Bond Fund – provides revenue bond financing through an S&P-rated fund, whereby proceeds from bond sales are loaned to companies for fixed-rate, long-term capital asset financing
- State 166 Direct Loan – provides loans for land and building acquisition, construction, expansion, or renovation, and equipment purchases
- REDI Site Revolving Loan Fund – provides support for closing critical infrastructure financing gaps by making patient capital available to sites
- 629 Roadwork Development Fund – offers funds for public roadway improvements, including engineering and design costs, for projects primarily involving manufacturing, research and development, high technology, corporate headquarters, and distribution activity
- JobsOhio Research and Development Grant – facilitates the creation of corporate research and development centers in Ohio to support the development and commercialization of emerging technologies and products
- Research and Development Investment Loan Fund – provides loan financing for projects primarily engaged in research and development activities
- Research and Development Investment Tax Credit – provides a non-refundable tax credit for qualified research and development expenses
- Job Creation Tax Credit – a refundable tax credit for companies creating new jobs in Ohio
Note: Must meet minimum investment, payroll, and jobs thresholds to be eligible and final approval from the Ohio Tax Credit Authority is required - Data Center Tax Abatement – a tax exemption rate and term that allows for partial or full sales tax exemption on the purchase of eligible data center equipment
Note: Must meet minimum investment, payroll, and jobs thresholds to be eligible and final approval from the Ohio Tax Credit Authority is required - Property Tax Credit – provides real property tax incentives or exemptions for businesses that expand in or relocate to Ohio through a CRA or OEZP
- JobsOhio Workforce Grant – promotes economic development, business expansion, and job creation by providing funding to improve Ohio worker skills and abilities
- JobsOhio Talent Acquisition Services – assists workforce recruitment and training needs by providing funding and a dedicated resource team for marketing, attracting, sourcing, pre-hire skills development (training and candidate assessment) and strategic talent acquisition advising
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Kentucky Incentives
- Commonwealth Seed Capital LLC – is an independent, non-profit fund that makes debt or equity investments in early-stage Kentucky business entities to facilitate commercializing innovative ideas and technologies
- Community Development Block Grant Loans (CDBG) – provides federally funded, low-interest loans through the Department for Local Government
- Direct Loan Program (KEDFA) – encourages economic development business expansion and job creation by providing business loans to supplement other financings
- Industrial Revenue Bonds (IRB) – can be used to finance manufacturing projects and warehouse areas, major transportation and communication facilities, most health care facilities, and mineral extraction and processing projects
- Kentucky Agricultural Finance Corporation – provides capital access for agricultural diversification and infrastructure projects
- Kentucky Enterprise Fund and Rural Innovation Fund – provides seed-stage capital to Kentucky-based companies commercializing a technology-based product or process
- Kentucky Enterprise Initiative Act (KEIA) – assists new or expanded service or technology, manufacturing or tourism attraction projects
- Kentucky Small Business Credit Initiatives (KSBCI) – is designed to generate jobs and increase credit availability by reducing the risks participating lenders assume when making loans to small businesses
- SBIR-STTR Matching Fund Program – offers competition-based matching loans from the Kentucky Cabinet for
Phase 1 and Phase 2 federal Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) awards - Small Business Loan Program – is designed to help small businesses acquire the funding needed to start or grow in manufacturing, agribusiness, or service and technology
- VENCAP Kentucky – is designed to increase businesses’ access to seed-, early- and expansion-state capital by providing venture capital funding to entrepreneurs who have attracted a lead investor
- REDI Site Revolving Loan Fund – provides support for closing critical infrastructure financing gaps by making patient capital available to sites
- Incentives for Energy Independence Act (IEIA) – requires capital investment for an alternative fuel facility using biomass or coal as its primary feedstock
- Kentucky New Energy Ventures Fund – provides seed-stage capital to support the development and commercialization of alternative fuel and renewable energy products, processes and services
- Kentucky Environmental Stewardship Act (KESA) – assists companies manufacturing products with a substantial positive impact on human health and the environment
- Kentucky Agricultural Development Fund – provides incentives for innovative proposals that increase net farm income, stimulate markets for Kentucky agricultural products, crease new ways to add value to Kentucky agricultural products, and explores new opportunities for Kentucky farmers
- Angel Investment Tax Credit – offers tax credits on investment in Kentucky small businesses
- Kentucky Business and Investment (KBI) program – provides income tax credits and wage assessments to new and existing agribusinesses, regional and national headquarters, manufacturing companies, and non-retail services or technology-related companies that locate or expand operations in Kentucky
- Kentucky Investment Fund Act (KIFA) – provides tax credits to individuals and companies that invest in approved venture capital fund
- Kentucky Small Business Tax Credit (KSBTC) – is designed to encourage small business growth and job creation by providing a non-refundable tax credit to eligible businesses hiring one or more eligible individuals and investing in qualifying equipment or technology
- Bluegrass State Skills Corporation Grant Reimbursement Program – provides matching grant funds for customized business and industry-specific training programs
- Bluegrass State Skills Corporation Skills Training Investment Credit – provides a credit against Kentucky income tax to existing businesses that sponsor occupational or skills to upgrade training programs for the benefit of their employees
Indiana Incentives
- Capital Access Program – provides businesses with access to capital by encouraging lenders who participate in the program to make loans they may not otherwise make
- Community Development Block Grant Loans (CDBG) – provides federally funded, low-interest loans through the Department for Local Government
- Industrial Development Grant Fund – provides assistance to municipalities and other eligible entities
- Venture Capital Investment Tax Credit – improves access to capital through individual and corporate investors to spur investment in early-stage firms
- REDI Site Revolving Loan Fund – provides support for closing critical infrastructure financing gaps by making patient capital available to sites
- Community Revitalization Enhancement District (CReED) Tax Credit – entitles a taxpayer to a credit against his/her state and local tax liability for qualified investments made within a CReED designation
- Hoosier Alternative Fuel Vehicle Manufacturer Tax Credit – provides a credit, as determined by the Indiana Economic Development Corporation (IEDC) to manufacture alternative fuel vehicles
- Industrial Recovery Tax Credit – provides an incentive for companies to invest in former industrial facilities requiring significant rehabilitation or remodeling expenses; also know as DINO for older buildings
- R&D Tax Credit – provides a credit against the state tax liability for qualified company research expenses
- R&D Tax Exemption – provides a credit against taxpayers’ state income tax liability and may refund sales tax paid from the purchase of qualified research and development equipment
- The Economic Development for a Growing Economy (EDGE) Tax Credit – provides an incentive to businesses to support jobs creation, capital investment and to improve the standard of living for Indiana residents.
- Headquarters Relocation Tax Credit – provides a tax credit to corporations that relocate headquarters to Indiana
- Hoosier Business Investment Tax Credit – provides incentives to support job creation and capital investment that improves the standard of living for Indiana residents
- Patent Income Exemption – is a tax exemption for patient-derived income for utility and plant patents
- Tax-Exemption Bond Programs – offer several tax-exempt bonds to eligible applicants through the Indiana Finance Authority, including a Volume Cap Program, Large Bond Program, Small Bond Program, and Master Financing Program
- Skills Enhancement Fund (SEF) – provides assistance to companies to support the training of employees required to support business growth in Indiana.