Incentives
Businesses expanding in or relocating to the City of Cincinnati are eligible for several incentive programs. Some of these programs reduce annual operating costs, and in so doing, provide businesses direct cost reductions.
The City of Cincinnati has four tax incentive programs
Job Creation Tax Credits
Cincinnati levies at 2.1% tax on the net profits of firms. If a company is moving to Cincinnati, or creating jobs in Cincinnati, they may be eligible for a job creation tax credit or a reimbursement.
Property Investment Reimbursement Agreement
The City of Cincinnati may offer a Property Investment Reimbursement (PIR) incentive to a company that is considering expanding in or moving to Cincinnati.
Tax Increment Districts
Developers making a large-scale investment that requires substantial public improvements may be able to use tax increment financing (TIF) to offset a portion of those costs. The city has 21 tax increment districts and in some cases will create a TIF specific to a project.
Community Reinvestment Area
The Cincinnati Public Schools, Hamilton County, and the City levy a property tax to meet a wide variety of local service needs. If a company is making an investment that will result in a substantial change to its property tax obligation, and they are creating jobs, they may be eligible for a property tax abatement.
Properties
We offer you a search for commercial real estate brought to you by Cincinnati's commercial brokerage community and powered by Cincysites.com and GIS planning.
In addition to offering you a comprehensive search engine to search for sites. Our development officers have hand picked numerous site that are available for development.
Expansion/Retention
In today's economy companies are always looking at ways to grow responsibly. With each day the business world becomes more and more global, and these companies have the potential to expand and/or relocate anywhere in the world. For this reason, the City of Cincinnati has made it a top priority to focus on retaining existing businesses and ensuring their growth.
Economic Development puts much emphasis on and significant effort in retaining, assisting, and growing companies currently located in Cincinnati. To accomplish this, we have begun to proactively set up one-on-one onsite company visits. We want to help businesses in Cincinnati connect with the City and with neighborhood resources. Another goal of our onsite visits is simply to get to know our business owners and management teams, and to thank them for locating their businesses in Cincinnati. We cannot say this enough, especially in today's economic climate.
Goals for City of Cincinnati Expansion / Retention site visits:
- Build relationships
- Gain insight into business climates
- Identify opportunities for Economic Development to help businesses thrive
If you are a business in the City of Cincinnati that would like to schedule a retention or expansion visit, please visit our contact page and one of our development officers will be available to assist you.