Starting or Expanding a business in Franklin County

We are proud to say that Franklin County has a robust business climate. Dream of launching a new business? Expanding or relocating an existing one? We have several programs consisting of a mix of federal, state and county tax incentives, loans and grants, that can provide gap funding/assistance in realizing your dream.

Franklin County’s extensive educational system and workforce development partners stand ready to connect you to a skilled workforce.  We are committed to ensuring your success, and realize we cannot be successful without you.

Tax Incentive Programs

Several programs are available to assist new and existing business complete commercial, industrial, office and residential development projects.  The incentives total value depends upon the total investment, tax revenue generation, new job creation or retention estimated for the project.

Community Reinvestment Area (CRA):

The county’s Community Reinvestment Area (CRAS) are designed to offer real estate tax abatements on the increased value of real property improvements.  The State of Ohio created the CRA Program initially to encourage housing development by offering tax incentives for the renovation, construction or remodeling of housing units.  Today, this program in used as an economic development tool to help businesses in expansion.  Businesses opting to erect new facilities are offered real estate tax abatements on the increased value of their property improvements under this program.  The Franklin County Board of Commissioners has created the following 4 Community Reinvestment Areas.  For additional information on Community Reinvestment Areas, click here to link to the Ohio Department of Development

Canal Vause CRA                       map    

Hamilton Township CRA#3          map    

Jefferson Township CRA              map      

Rickenbacker CRA                      map 

To downlaod CRA Application Forms click these links:

   

Pre 1994 Application Form

Post 1994 Application Form

 

Enterprise Zone (EZ):

The Enterprise Zone Program allows for real and/or personal property tax abatement incentives to business planning to expand, construct or renovate their facilities or to purchase new machinery, equipment, furniture, fixtures, stand-alone computes and/or additional inventory.

The Enterprise Zone Program was created by the State of Ohio to help stimulate economic development and to allow communities to offer competitive business recruitment packages to prospective businesses.  Typically, the business enterprise must be non-retail in nature and must propose to create and maintain jobs in Franklin County.  Franklin County Board of Commissioners has created the following 10 Enterprise Zones:

Franklin Prairie Township EZ	map	Application
Grandview Heights EZ	map	Application
Grove City Urbancrest EZ	map	Application
Groveport EZ	map	Application
Hilliard EZ	map	Application
Jefferson Township EZ	map	Application
New Albany EZ	map	Application
Obetz EZ	map	Application
Upper Arlington EZ	map	Application
Whitehall EZ	map	Application

 

 

Tax Increment Finance (TIF):

Tax Increment Finance (TIF) is an economic development tool to finance public infrastructure improvements and in some instances, residential rehabilitation.  At TIF locks in the taxable worth of real property at the value held at the time the authorizing legislation was approved.  Payments derived from the increase assessed value of any improvement to real property exceeding that amount are directed towards a separate fund to finance the construction of public infrastructure defined within the TIF legislation.