ECONOMIC DEVELOPMENT ASSISTANCE
The Village's Economic Development Incentive Policy (EDIP) regulates the use of incentives and business assistance programs, guaranteeing a streamlined, fair, and efficient entitlement process. Please note that the availability of local resources is subject to the terms and conditions outlined in the EDIP. To review the EDIP, please click here.
To initiate the process of applying for economic development assistance, please contact the Village to schedule a consultation. Following the consultation, interested businesses and developers are invited to submit an application.
Local Resources
Community Reinvestment Area (CRA) Program
There are three CRAs in Plain City: Uptown Plain City, US-42 North, and US-42 South. In general, the CRA Program allows real property tax abatements on qualifying residential, commercial, office, and industrial construction projects. The term and amount of the abatements vary depending on the land use, amount of jobs created or retained, the amount of payroll, and the amount of the investment. The purpose of the CRA is to encourage the revitalization and growth and development of Plain City. Click here for more information.
Tax Increment Financing (TIF) Program
Under the TIF program, the Village can designate a specific geographic area as a "TIF District" and capture a portion of the increased real property tax revenue generated within that district. These captured funds, known as incremental revenue, are then directed toward financing eligible public infrastructure improvements. Click here for more information.
New Community Authority (NCA)
New Community Authorities (NCAs) are authorized by the Ohio Revised Code as a mechanism for creating well-planned and economically sustainable new communities. They are separate political subdivisions governed by a board of trustees. An NCA has the authority to issue bonds for specific projects, such as road construction or community facility development, funded through special taxes within the designated NCA area. These funds, whether from sales, income, or property taxes, are earmarked exclusively for use in the designated area.
Impact Fee Reduction Program
Certain industrial or office projects may be eligible for a partial reduction of roadway, safety, park, and zoning development impact fees. Water and sewer capacity fees are not subject to reduction.
Fire Suppression System Fee Reduction Program
The Village may reduce the system capacity fee for water lines serving new fire suppression systems in historic buildings located within the Uptown Plain City Historic District in which commercial, office, or upper-level residential projects are planned.
Annexation Enhancement Program
To foster sustainable and cohesive growth along the village's periphery, the Village may provide targeted enticements to property owners contemplating annexation. This program is offered on a case-by-case basis and may include benefits such as municipal income tax waivers, rezoning fee exemptions, waiver of public utility requirements, and more.
Questions? Please direct questions about these programs to Jason Stanford, Development Manager, via email or by calling 614-873-3527 ext 119.
State Resources
The Ohio Department of Development and JobsOhio both offer a wide variety of financial programs for companies looking to start, relocate, or expand in Ohio. Below is a list of the most commonly-utilized economic development programs:
Ohio Job Creation Tax Credit (OJCTC)
The OJCTC is a refundable tax credit to companies creating new jobs. The tax credit is measured as a percentage of the state income tax withholdings for all new employees hired under the program, and is 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. Minimum requirements; 10 full-time equivalent employees generating at least $660,000 in annual payroll.
Roadwork Development (629)
Through the Roadwork Development (629) Program, funds are available for public roadway improvements, including engineering and design costs. Projects must typically create or retain jobs. Grants are usually provided to a local jurisdiction and require local participation.
166 Direct Loan
The 166 Direct Loan Program provides loans for land and building acquisition, construction, expansion, or renovation, and equipment purchases for eligible businesses. The program provides low‐interest loans up to $1.5 million.
Ohio Enterprise Bond Fund
The Ohio Enterprise Bond Fund provides revenue bond financing through an S&P AA+ rated fund, whereby proceeds from the sale of bonds are loaned to companies for fixed‐rate, long‐term capital asset financing. Rates are market-driven and fixed prior to funding. Loan terms range between 7 to 10 years for equipment and 15 to 20 years for real estate. Up to $10 million in financing is available through the program.
Research and Development Investment Loan Fund
The Ohio R&D Investment Loan Fund provides financing between $500,000 and $5 million for projects primarily engaging in research and development activity. Rates are fixed (at or below market rates) with other loan terms similar to those of commercial bank financing. Companies receive a dollar-for-dollar, non-refundable Ohio commercial activity tax credit for principal and interest payments up to $150,000 annually during the loan term.
Innovation Ohio Loan Fund
The Innovation Ohio Loan Fund provides loans for the acquisition, construction, and related capital costs of technology, facilities, and equipment purchases. The fund was created to assist existing Ohio companies in developing next‐generation products and services within the state’s Targeted Industry Sectors up to 75% ranging from $500,000 to $1.5 million.
USDA – Rural Development Business & Industry Loan Guarantee Program
The Business & Industry Loan Guarantee Program is designed to help lenders provide loans to businesses in rural Ohio. Loan funds can be used for the purchase of real estate and buildings; expansion of existing facilities; business acquisitions; debt refinancing to provide better rates or terms; purchase of machinery & equipment; or providing for term working capital. For more information, call 614.255.2424.
Foreign Trade Zone
A Foreign Trade Zone (FTZ ) is a site within the United States that is legally considered outside of Customs territory for the purpose of duties, so goods may be brought into the site duty-free and without formal customs entry. Plain City is within FTZ #138. There are a number of benefits of being a part of an FTZ. For more information, please click here.