Governing bodies working together.

Performance Job Based Incentives:
Job Creation Tax Credit (JCTC) – A non-refundable tax credit calculated as a percentage of the city income tax withholdings for eligible new employees and applied toward the company’s municipal tax liability. The credit rate and term is based upon the amount of new investment and the number of jobs created as a result of the project.

Jobs Growth Incentive (JGI) – A cash payment up to twenty-five percent (25%) of the local income tax withholdings for eligible new employees for a negotiated term for businesses locating or expanding outside of the Columbus Downtown area. The rate and term is based on the number of new employees, the investment amount and the lease term.

Property Tax Abatement:
Enterprise Zone (EZ) – A designated area of land in which a business can receive a tax exemption related to eligible new investment in real property improvements. Enterprise Zones allow the City of Columbus to negotiate exemptions on new property tax from investment for up to seventy-five percent (75%) for up to ten (10) years. Eligible businesses must invest in new building construction and/or improvements to existing land and buildings.

Business Financing:
Business Development Loan Fund – A low-interest loan of up to $199,000 for the acquisition of real estate and/or large equipment which can be repaid over a longer period of time (up to 20 years). This loan requires that a second lending institution match the Business development Fund amount to comprise the principal. The creation of a minimum of one new job per $30,000 of City investment is required with 51% of the jobs created awarded to low-moderate income individuals.

Working Capital Loan Fund – A low-interest loan of up to $100,000 that can be used to pay for inventory, wages, small equipment, etc. which is typically repaid over a shorter period of time (up to 5 years). This loan requires that a second lending institution match the Work Capital Loan fund amount to comprise the principal. The creation of a minimum of one new job per $30,000 of City investment is required with 51% of the jobs created awarded to low-moderate income individuals.

Capital Improvement Funds:
Roadway & Streetscape Improvements – The City of Columbus is prepared to engage in roadway and streetscape improvements to improve access for a potential project site(s) while also providing indirect benefits to Brice-Tussing business corridor. For example, City invested about $480,813 in infrastructure improvements when Daifuku expanded their North America operation off Tussing Road. With the assistance from the State, the City invested in public road improvements by widening a two-lane road and inserting a turning lane that directly benefited Daifuku. Another example would be when the City invested approximately $2.86 million to create a new road named “Buffalo Parkway”, for the direct benefit of SEA, Ltd.’s new corporate headquarters. Depending upon site needs, the City will recommend financial assistance in this area.

Tax Increment Financing (TIF) – Allow for the establishment of special district wherein all new property tax revenues are captured and re-invested into that same area. Payments derived from the increased assessed value can be used to pay for public infrastructure to support development.

Green Incentives:
Green Columbus Fund – Established to encourage sustainable development and redevelopment, private businesses and non-profit organizations can receive grants up to $200,000 per project to assess and redevelop Brownfield sites or to construct green buildings in Columbus.