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Incentives
The City of Huber Heights has worked hard to compile the tools needed that help to attract, create, grow, and retain businesses through competitive incentives and meaningful, targeted investments.
Incentives through the City of Huber Heights:
* Community Reinvestment Areas (CRAs)
Gives local communities authority to provide real-property tax incentives for businesses that invest in designated Ohio areas. Click here for an overview of the CRA program.
* Real Property Tax Abatement
Provides new projects in designated areas with up to 100% tax abatements for up to 15 years.
* Infrastructure Cost Participation
Assists new projects with the cost of required off-site infrastructure improvements through direct City participation or deferment/waiver
* Industrial Revenue Bonds
Help finance the cost of land acquisition, building construction or equipment purchase for new projects.
Incentives through Montgomery County:
ED/GE Program (Economic Development/Government Equity Program)
The ED/GE Program, which was established in 1992, to spur economic growth, as well as create a regional cooperation between Montgomery County jurisdictions. The overall purpose of the ED/GE Program is to promote economic health and take advantage of economic opportunities for all businesses of the County.
This program enables participation jurisdictions to apply for grants for capital improvement projects each year. This grant is focused on job creation, job retention, tax base expansion and competing successfully as a region in national and international markets.
There are two funding cycles per year. Applications are submitted by the City of Huber Heights on behalf of the business. The program focuses on assisting projects that have the potential to attract new jobs, retain existing jobs, and/or invest in high growth industries, along with other characteristics.
Community Development Block Grant (CDBG) Program
CDBG Program
Montgomery County receives CDBG funds from the U.S. Department of Housing and Urban Development with the goals of promoting community growth, including economic development.
Incentives through the State of Ohio, Department of Development:
Welcome to Ohio, The State of Perfect Balance.
166 Direct Loan
Direct loan financing is available to help finance new building construction, building acquisition, and acquisition of machinery and equipment.
Ohio Enterprise Bond Fund
Revenue bond financing whereby proceeds from the sale of bonds is loaned to companies for a fixed rate, long term capital asset financing.
R&D Investment Loan Fund
Direct loan financing available for projects primarily engaging in research and development activities. Companies receive dollar-for-dollar, non refundable Ohio commercial activity tax credit for all principal and interest payments during the year.
Job Creation Tax Credit (JCTC)
A refundable tax credit to companies creating at least 25 new full-time jobs (within 3 years) in Ohio. The credit may be available for certain high-wage industries creating 10 or more new full-time jobs within 3 years.
Third Frontier Project
These incentives are the State’s largest-ever commitment to expanding Ohio’s high-tech research capabilities and promoting innovation and company formation that will create high-paying jobs for generations to come.
For more information of these incentives, please visit www.odod.state.oh.us.