As Cincinnati and Dayton continue to converge, West Chester has emerged as the economic center of the Cincinnati-Dayton Metroplex, the regional commerce corridor connecting the two major metropolitan areas. This super-region, with two international airports, ranks 18th in the nation with a population of nearly 3 million. The Cincinnati region ranks 13th in the nation for Fortune 500 companies. West Chester Township ranked as one of the CNN Money magazine's 2016 Best Places to Live in America.
No Corporate Income Tax/No Employee Income Tax
In addition to any financial incentive that may be granted, companies will also benefit from a substantial tax incentive already in place. Because West Chester is a township, it does not assess an earnings tax on the income of corporations or its employees, which can be a significant and automatic cost savings to a company seeking to operate in West Chester compared to surrounding municipalities. To learn more about state and local incentives, read our West Chester Incentive Overview.
Ohio Enterprise Zone Program
The Ohio Enterprise Zone Program is an economic development tool administered by municipal and county governments that provides real property tax exemptions to businesses making investments in Ohio.
Enterprise zones are designated areas of land in which businesses can receive tax incentives in the form of tax exemptions on eligible new investment. The Enterprise Zone Program can provide tax exemptions for a portion of the value of new real property investment when the investment is made in conjunction with a project that includes job creation.
Tax incentives are negotiated at the local level, and an enterprise zone agreement must be in place before the project begins. Businesses interested in pursuing these incentives should contact the local Enterprise Zone Manager at 513-785-5791.
Revolving Loan Fund Program
The Butler County Department of Development offers affordable financing for small businesses in Butler County. Businesses must locate or expand in Butler County to be qualified for this program. The County offers low interest loans for fixed assets.
To be eligible for a loan you must be:
To discover how you may qualify for a loan, contact:
Butler County Department of Development
130 High Street, 6th Floor
Hamilton, OH 45011
Or visit their website at Butler County Department of Development.
The Ohio Development Services Agency (ODSA) works to support Ohio's businesses, large and small, as they maneuver in the global economy. Whether a company is established in the state and looking to expand, a technology company ready to move from the lab to commercialization, or an entrepreneur establishing a new small retail business, ODSA has resources to assist these businesses as they grow. ODSA resources include the Small Business Development Centers, the Minority Business Development Centers, and International Trade Assistance Centers, as well as the Small and Minority Business Financial Incentives Programs, and Ohio Third Frontier. For companies looking to relocate or expand in Ohio, ODSA works with JobsOhio to offer businesses comprehensive packages of financial and technical assistance resources for job creation and retention.
The Ohio Development Services Agency also has a variety of bonds, grants, loans and tax credits that can assist Ohio companies as they grow and create jobs in Ohio. More information on the various programs visit the Ohio Development Services Agency.