INCENTIVES

 

Conduit Financing

Southeastern Ohio Port Authority (SeOPA) can issue bonds on behalf of a borrower for the purpose of making the proceeds available to the borrower for certain projects.  SeOPA works in partnership with traditional lending institutions and its public partners to provide the most advantageous financing for a project.  Ultimately, the financial strength of the transaction is based upon the credit-worthiness of the underlying borrower (and any credit enhancement available in the deal). 

Property Assessed Clean Energy Financing 

Property Assessed Clean Energy (“PACE”) financing presents a way to finance energy-efficiency, renewable-energy, and water conservation upgrades to buildings.  PACE can pay for new heating and cooling systems, lighting improvements, solar panels, water pumps, insulation, and more for almost any property – homes, commercial, industrial, non-profit and agricultural. 

Tax Abatements  

This application is for new construction, expansion, or renovation projects. The benefit is Abatement of property taxes. 

The JobsOhio Growth Fund provides capital for expansion projects to companies that have limited access to capital and funding from conventional, private sources of financing. JobsOhio will consider loans to companies that are in growth, established or expansion stages that have generated revenue through a proven business plan. 

The JobsOhio Workforce Grant was created to promote economic development, business expansion and job creation by providing funding for the improvement of worker skills and abilities in the State of Ohio. 

The JobsOhio Economic Development Grant was created to promote economic development, business expansion and job creation by providing funding for eligible projects in the State of Ohio. 

The JobsOhio Revitalization Fund is a key financial component to helping a community build economic capacity by providing funding for Brownfield redevelopment. Brownfield redevelopment allows a community to reclaim and improve its lands making property viable for new development.

The JobsOhio Growth Fund provides capital for expansion projects to companies that have limited access to capitlal and funding from conventional, private sources of financing. JobsOhio will consider loans to companies that are in growth, established or expansion stages that have generated revenue through a proven business plan. 

The JobsOhio Workforce Grant was created to promote economic development, business expansion and job creation by providing funding tor the improvement of worker skills and abilities in the State of Ohio. 

The JobsOhio Economic Development Grant was created to promote economic development, business expansion and job creation by providing funding for eliglible projects in the state of Ohio.

The Jobs Ohio Revitalization fund is a key financial component to helping a community build economic capcity by providing funding for Brownfield redevelopment. Brownfield redevelopment allows a communty to relcaim and improve its lands making property viable for new development. 

Tax Increment Financing
Tax Increment Financing (“TIF”) is a mechanism to use the future increase in property taxes to finance part of the cost of the improvement that will generate the increased taxes. 
Structured Lease
The Southeastern Ohio Port Authority enjoys an exemption from sales tax on building and construction materials that are incorporated into its facilities.  By entering into a structured lease transaction with a company, the Port Authority can pass that exemption on to the company. 
Other Assistance Programs
This application is determined by JobsOhio, Ohio Development Services Agency or Buckeye Hills. The benefit is to assist with relocation or expansion costs; Buckeye Hills may assist with start-up costs. 
Job Creation Tax Credit
The Job Creation Tax Credit is a refundable and performance based tax credit calculated as a percent of created payroll and applied toward the company's commercial activity tax liability. Should the amount of the credit exceed the company's commercial activity tax liability for any given year, the difference is refunded.  Companies generally creating at least 10 new jobs (within three years) with a minimum annual payroll of $660,000 that pay at least 150% of the federal minimum wage are eligible for the credit; however, must apply for the credit before committing to its’ competitive project.  Applicants must be approved through the Ohio Tax Credit Authority before hiring begins.
JobsOhio Growth Fund
JobsOhio Workforce Grant
JobsOhio Economic Development Grant
JobsOhio Revitalization Fund
Research & Development Grant
The JobsOhio Research and Development Grant facilitates the creation of corporate Research  and Development center in Ohio to support the development and commercialization of  emerging technologies and products. 

To learn more about incentives and assistance programs that can reduce costs to locate or expand in Washington County, contact the Port Authority at (740) 568-1958.