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The Ohio Economic Development
Partnership is a statewide association of government entities and
businesses. The Partnership is a Certified Community Development
Entity recognized by the US Treasury. The
Partnership's primary mission is to provide financial
support for projects that will create or retain jobs for
low-income* households, and help develop, rehabilitate, or
revitalize low-income communities throughout the State of
Ohio.
The Partnership's objectives
include:
-
Stimulating a self-sustaining
process of economic development
-
Creating jobs at acceptable wages,
with benefits and career ladders for area residents
-
Producing goods and services that
meet social needs
-
Establishing greater community
control, accountability, and participation in basic economic
decisions
-
Broadening business and asset
ownership within low-income communities
The Partnership provides support to
both businesses and government agencies. Support for businesses
include a wide range of services. Some of those services
are:
-
Assistance in securing
funding
-
Obtaining grants
-
Placing low interest loans or
loan guarantees
-
Finding tax credit programs that
encourage investments
-
Providing incentives to businesses
whose projects take place in distressed areas
-
Obtaining low
interest capital improvement loans
-
And various other financial
mechanisms
An example of one of the other
financial mechanisms: Salable tax credits equal to 39% of a
qualified investment. In Ohio, additional discretionary
state incentives may be available as well. Other examples
of incentives for investment include the gift of land and/or
buildings, cash grants, zero interest loans, and grants to train
employees.
For more information,
write to us at: brooks@ohedp.com
or call us at (419)
687-7114.

*
Low-income is defined as 80% or less of the state-wide median family
income

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