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Financial Incentives


Financial assistance is available to assist with business expansion, job creation, and capital investment in Gallia County.  Additionally incentives can be used to leverage financial assistance from state and federal sources. Below you will find additional information on available programs that foster economic growth and development.

 

Local Assistance


Economic Development Grants

Economic Development grant funds are available through the Southern Ohio Agricultural and Community Development Foundation (SOACDF) for job creating projects. Grant funds may be used for:

  1. Capital improvements, fixed assets or land acquisition where the end purpose is for manufacturing, distribution, warehousing or health care

  2. Certain technology, Research & Development, and /or innovating project types that foster job creation or retention and are not deemed too speculative in nature

  3. Capital improvements in public or non-profit owned marketable industrial/ commercial properties that foster job creation or retention.

Grant awards for up to a maximum of 35% of total project costs based upon job creation or retention.   The complete Economic Development Grant Application Handbook can be found at www.soacdf.net

Job Creation Incentives

The City of Gallipolis' Job Creation Incentive Program is to encourage economic growth through business retention and/or expansion efforts and new business recruitment in the City of Gallipolis. 

For approved projects, the City of Gallipolis shall provide a yearly payment to an enterprise up to 50% of employee's 1% income tax withholdings that are paid to the City of Gallipolis.  Complete program details are available here

Job Training Funds

On-the-Job Training is a federally- funded program that helps employers hire and train individuals for long-term employment.  Participating employers may be reimbursed up to 50% of wages earned by the eligible new trainees while they learn the job, up to $8,000.  Employees must be deemed eligible prior to hiring.

Regional Loan Programs

Appalachian Growth Capital (AGC) is a Community Development Financial Institution (CDFI) formed as a subsidiary of Appalachian Partnership Inc. AGC will serve the 32 Appalachian-designated counties in Ohio.  AGC partners with banks, local loan funds and small business service providers to more fully meet credit needs of small and mid-sized businesses. 
 

OVRDC Revolving Loan Fund offers assistance to businesses looking to expand or start up in our region through GAP funding program. 


State and Regional Incentive Programs


JobsOhio Economic Development Grant

The JobsOhio Economic Development Grant exists to promote economic development, business expansion and job creaton by providing funding for eligible projects in the state of Ohio. 

JobsOhio Growth Fund

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 the growth, established or expansion stage, and that have generated revenues through a proven business plan.

JobsOhio Workforce Grant

The JobsOhio Workforce Grant promotes economic development, business expansion and job creation by providing funding to companies for employee development and training programs. 

JobsOhio Revitalization Program

The JobsOhio Revitalization Program focuses on helping rejuvenate sites in preparation for end-users that support job creation opportunities for Ohioans.  The program, which includes both loans and grants, is available to public and private entities seeking to clean up and redevelop sites across Ohio. 
 

Tax Credit Incentives
 

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 creating at least 10 jobs (within three years) with a minimum annual payroll of $660,000 and that pay at least 150 percent of the federal minimum wage are eligible for the credit; however, they must apply for the credit before committing to a project.  The Ohio Tax Credit Authority must approve applicants before hiring begins. 
 

Data Center Tax Abatement

The Data Center Tax Abatement provides a sales-tax exemption rate and term that allow for partial or full sales tax exemption on the purchase of eligible data center equipment. Projects must meet minimum investment and payroll thresholds to be eligible. Final approval of the tax exemption is contingent upon the approval of the Ohio Tax Credit Authority. 

Ohio Enterprise Zone Program

The Ohio Enterprise Zone Program provides real property tax incentives for businesses that expand or relocate in Ohio. To establish an Enterprise Zone, a municipality or county must apply to the Director of Development for certification. To secure benefits, businesses must apply to the local community. Certain qualifying businesses may be eligible for additional benefits.

Community Reinvestment Areas

The Community Reinvestment Areas provide companies locating in a designated Community Reinvestment Area an exemption of up to 100 percent of improvement value for up to 15 years on real property taxes. To be eligible, a company must make an agreement with the local community prior to going forward with the qualifying project.
 

State Loan and Grant Programs


Ohio Enterprise Bond Fund

The Ohio Enterprise Bond Fund provides revenue bond financing through an S&P 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. 

166 Direct Loan

The 166 Direct Loan gives eligible businesses loans for land and building acquisition, construction, expansion, or renovation, and equipment purchases. The program provides low-interest loans up to 40 percent of the cost not to exceed $1.5 million. 

Innovation Ohio Loan Fund

The Innovation Ohio Loan Fund provides loans for acquisition, construction, and related capital costs of technology, facilities, and equipment purchases. The fund was created to assist existing Ohio companies develop next-generation products and services within the state’s key industry sectors. Loans range from $500,000 to $1.5 million and can cover up to 75 percent of the project cost. 

Research & Development Investment Loan

The Research and Development Investment Loan Fund provides loan financing between $500,000 and $5 million for projects primarily engaging in R&D activity. The loans have fixed rates (at or below market rates) and 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 made during the year up to $150,000 during the loan term.

Roadwork Development (629)

Roadwork Development (629) funds are available for public roadway improvements, including engineering and design costs. Funds are accessible for projects that create and retain jobs and primarily involve manufacturing, technology, research and development, high technology, corporate headquarters, and distribution activity. Grants are provided to a local jurisdiction and require local participation.  They can be used to reimburse accumulated costs. 

 

For all programs related to community development, small business, and minority business please reference the Ohio Development Services Agency's website