Incentives

State and Local Incentives for Your Business Needs

Incentives are an important factor in moving a project forward. Richland County businesses can benefit from local incentives, as well as state performance-based incentives to assist companies that are starting, relocating or expanding operations in Ohio.

Benefits for Businesses in the Mansfield Area

  • No personal property tax
  • No inventory tax
  • No state corporate income tax

Local-specific Incentives

Real Estate Tax Abatements – Enterprise Zone or Community Reinvestment Area

Mansfield, Shelby, Ontario, Lexington

Manufacturing, warehouse/distribution, research & development, professional services and commercial-oriented businesses interested in expanding or locating in designated areas may be eligible for tax abatement of up to 100% of real property taxes for up to 15 years. Projects must involve a substantial investment and create quality, full-time equivalent jobs.

Incumbent Workforce Voucher

All of Richland County

The Ohio Incumbent Workforce Voucher Program will reimburse employers for up to 50% of the eligible employee training costs, up to $4,000 per employee.

Job Creation Tax Credit

Mansfield, Ontario

The Job Creation Tax Credit (JCTC) is a refundable tax credit that generally matches the state level JCTC incentive and generally needs to meet all three of the following criteria:

  • Creating at least 10 new jobs (within three years)
    Applies to Mansfield and Ontario
  • Paying at least 150% of the federal minimum wage.
    Applies to Mansfield and Ontario
  • Total new minimum annual payroll of $660,000.
    Applies to Mansfield

Most business projects are eligible, except point-of-purchase retail. Projects must include substantial fixed-asset investments in land, building, machinery/equipment and/or infrastructure. The tax credit is a percentage of the municipal income tax withholdings for all new employees hired under the program.

Foreign Trade Zone

All of Richland County

Richland County is included in Foreign Trade Zone 181, offering sites that provide numerous cost-reduction benefits for companies doing business globally. These sites, which include prime industrial and warehouse space, can mean significant ongoing savings.

New Markets Tax Credit

Eligible census tracts in Mansfield and Shelby

Select industrial and business sites in Mansfield and Shelby are potentially eligible for the New Markets Tax Credit Program. Qualifying projects may be eligible to receive up to 39% of the cost of fixed asset investment by the company. See policy map.

Tax Increment Financing

Mansfield, Ontario

Fixed Rate Tax Increment Financing (TIF) is a financing alternative for qualifying projects resulting in more favorable financing terms. A TIF must be used to finance infrastructure needed for a project and for which there is a common public good. Qualifying public works include: streets, parking, water and utilities.

Revolving Loan Fund – Gap Financing

All of Richland County

The Revolving Loan Fund serves as gap financing for employers creating jobs for low-to-moderate income workers. Loans can be up to $150,000, based on full-time jobs created and should not account for more than ⅓ of the total project cost. Terms generally match the bank loan for the project.

Downtown Development Incentive Program

Mansfield

Through a partnership between the Richland County Foundation and the City of Mansfield Community Development Department, this grant-funded incentive program is available to local property owners in downtown Mansfield. The goal of this incentive program is to encourage increased residential opportunities in downtown Mansfield by the redevelopment of existing properties or development of new properties.

Complete the forms listed below before applying. Apply Here