Programs

Ohio Enterprise Zone Program

Tax Increment Financing (TIF)

The Ohio Enterprise Zone Program is an economic development tool created by the State, administered by municipal and county governments, that provides real property tax exemptions to businesses making investments in Ohio. They allow local officials to negotiate with businesses to encourage new business investment in the zone. The Lake County Board of Commissioners have established the Lake County Enterprise Zone, and the Lake Development Authority is the program administrator. For further information please contact us.

Tax Increment Financing (TIF) is an economic development mechanism available to local governments in Ohio to finance public infrastructure improvements and, in certain circumstances, residential rehabilitation. TIFs are implemented at the local level and may be created by township, municipality or county. Payments derived from the increased assessed value of any improvement to real property beyond that amount are directed towards a separate fund to finance the construction of public infrastructure defined within the TIF legislation.

Regional and State Partners

Team NEO is a business and economic development organization focused on accelerating economic growth and job creation throughout the 18 counties of Northeast Ohio. With a variety of resources and an experienced staff specializing in a variety of businesses, Team NEO is a valuable partner when deciding to grow and expand your business in Northeast Ohio.

JobsOhio is a private nonprofit corporation designed to drive job creation and new capital investment in Ohio through business attraction, retention and expansion. They can provide incentives and other support for companies looking to move to Ohio or continue to grow and expand here. Customized Site Selection Services, State-Level Incentive Packages and Talent Acquisition Services are just some of the ways they can help your company grow.

More on Financing

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