Immediate Overhead Reduction
Lower your operational costs from day one with significant exemptions on property improvements, allowing you to reallocate capital to direct business needs.
Long-Term Financial Security
Secure up to 15 years of tax predictability with guaranteed abatement terms that support sustainable, multi-phase expansion projects.
Modernization Incentives
Reinvest your savings directly into facility modernization or equipment upgrades to maintain your competitive edge in a global market.
Property Tax Abatements
Programs designed to stimulate investment in specific targeted areas by exempting qualified improvements to commercial and industrial real property.
ELIGIBILITY HIGHLIGHTS
- Expansion of existing commercial footprints
- New industrial facility construction or shell completion
- Location within Community Reinvestment Areas (CRA) or Enterprise Zones (EZ)
- Projected creation or retention of permanent jobs
- Minimum capital investment thresholds met
Tax Increment Financing (TIF)
Tax Increment Financing is a strategic development tool used to fund essential public improvements such as roads, sewers, and site preparation by capturing future property tax revenue generated by new private investment.
Mechanism
Allocates the projected increase in tax revenue from a project to repay the costs of public improvements (including roads, lighting, and utilities) required for site development.
Who It's For
Communities and developers collaborating on complex site remediations, industrial expansions, or the revitalization of underutilized industrial and commercial corridors.
Growth Impact
Drives regional prosperity by transforming vacant property into vibrant industrial hubs, securing new jobs and strengthening the County's long-term tax stability.
Leverage potential sales tax savings on construction materials and major equipment acquisitions to reduce project-specific soft costs.
Capital Lease Structures – Ashtabula County Port Authority
The Ashtabula County Port Authority facilitates growth by providing strategic capital lease options. Through these structures, the Port Authority can own and lease facilities or equipment back to businesses, serving as a powerful catalyst for capital investment and long-term facility expansion.
Sales Tax Savings
Structural Flexibility
Utilize customizable ownership and leaseback frameworks designed to align with corporate financial objectives and liquidity needs.
Strategic Planning
Synchronize your capital investment with long-term expansion plans, ensuring facility readiness for future modernization phases.
Low Cost Loan Programs
Flexible capital solutions designed to fuel business expansion, equipment modernization, and operational growth across Ashtabula County.
Regional Loan Fund (RLF)
Gap financing for manufacturing and industrial firms focusing on significant job creation and retention.
Target & Key Terms:
- Manufacturing, Commerce, Distribution, and Research sectors are eligible
- Up to $1,000,000 max funding (30-40% of costs)
- Competitive fixed interest rate
Small Business Loans
Providing essential capital for local entrepreneurs to cover startup costs, inventory, or equipment needs.
Target & Key Terms:
- Subordinated Fixed Asset Loans for Small Businesses
- Up to $250,000 available
- Requires partnership with a private bank
- Flexible fixed interest rate
JobsOhio Grants & Loans
Strategic financial support for capital investment, site development, and job creation projects designed to drive regional economic prosperity.
JobsOhio Incentives & Strategic Support
JobsOhio serves Ashtabula County through Lake To River, its designated regional partner. By collaborating with Lake To River and local entities like Growth Partnership, JobsOhio delivers state-level incentives that bridge gaps and complement local development tools for maximum project impact.
Visit the Lake To River website to discover JobsOhio programs for our region, or reach out to Growth Partnership for personalized assistance.
Talent & Workforce Programs
Programs focusing on talent attraction, specialized training, and employee upskilling initiatives tied specifically to new Ohio job creation.
Site & Infrastructure Support
Direct assistance for enhancing strategic sites, large-scale industrial infrastructure, and overall logistical readiness for development.