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
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.
The City of Cincinnati may offer a Property Investment Reimbursement (PIR) incentive to a company that is considering expanding in or moving to Cincinnati.
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.
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.