As Cincinnati and Dayton continue to converge, West Chester Ohio 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 19th in the nation with a population of more than 3 million. West Chester Ohio ranks as one of the TIME Money magazine's Best Places to Live in America.
West Chester Incentives
West Chester Incentives
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 Ohio 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 print a PDF of state and local incentives, click West Chester Incentive Overview.
Butler County Incentives
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 a member of the West Chester Community Development team at (513) 777-4214.
State of Ohio Incentives
The Ohio Department of Development 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, ODA has resources to assist these businesses as they grow. ODA 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, ODA works with JobsOhio to offer businesses comprehensive packages of financial and technical assistance resources for job creation and retention.
The Ohio Department of Development also has a variety of bonds, grants, loans and tax credits that can assist Ohio companies as they grow and create jobs in Ohio.
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.
More information on the various programs visit the Ohio Department of Development.