incentives

The Union County Enterprise Zone Program offers real property tax abatements for eligible companies wanting to expand or locate within the designated Enterprise Zone areas that are located in the City of Marysville, the Village of Richwood, and portions of southern Union County. The term and amount of the tax abatement are based upon the number of employees, amount of payroll, and amount of investment.

In an effort to improve its uptown and surrounding neighborhoods, the City of Marysville established the Marysville Community Reinvestment Area to provide real property tax abatements for eligible residential, commercial, office, and industrial development. The term and amount of the abatements vary depending on the land use, the number of jobs created or retained, the amount of payroll, and the amount of the investment.

In 2019, the City of Marysville established the Marysville Innovation District Community Reinvestment Area to provide real property tax abatements for eligible residential, commercial, office, and industrial development in the southern portions of the city, including the 33 Innovation Park. The term and amount of the abatements vary depending on the type of project, the number of jobs created or retained, the amount of payroll, and the amount of the investment.

The Union County Commissioners established the Southern Union Community Reinvestment Area in 2021 to provide real property tax abatements for eligible commercial and industrial development in various areas of southern Union County (Jerome Township). The term and amount of the abatements vary depending on the type of project, the number of jobs created or retained, the amount of payroll, and the amount of the investment.

The Village of Richwood established a Community Reinvestment Area to provide real property tax abatements for eligible residential, commercial, office, and industrial development occurring within a specific geography of the village. The term and amount of the abatements vary depending on the land use, the number of jobs created or retained, the amount of payroll, and the amount of the investment.

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There are three CRAs in Plain City, each administered by the Village. The US 42 Business Park CRA, which is located within the Union County portion of the Village, has specific eligibility requirements as outlined in the Village of Plain City Economic Development Incentive Policy. In general, the CRA allows real property tax abatements on qualifying commercial, office, and industrial construction projects. The term and amount of the abatements vary depending on the land use, amount of jobs created or retained, amount of payroll, and the amount of investment. More information can be found by contacting the Village of Plain City by calling 614-873-3527.

For those jurisdictions which levy municipal income taxes or any area in which a Joint Economic Development District (JEDD) has been created, municipal income tax rebates can be given to a company in return for job creation, payroll generation, and private investment. The municipal income tax rebate works where a company agrees to private investment into real and personal property, creation of jobs, and personal income tax from the created jobs. After the company provides the projected income taxes meeting the agreement for a calendar year, the appropriate jurisdiction agrees to rebate the company a certain percentage (50% or less) of the personal income taxes collected.

This potential incentive would involve the appropriate jurisdiction or County contributing some specified share of the cost of any off-site improvements required for the particular development involved. An example of this would be the extension of a water/sewer line to a presently un-serviced industrial, office, or commercial site with the cost of said extension being shared jointly by the jurisdiction or County and the developer either upfront or via a reduction or deferment of any assessment that might be levied.

For select major industrial, office, or commercial properties, the County or appropriate jurisdiction could employ tax increment financing to raise revenues necessary to finance required capital improvement projects (i.e. all public infrastructure including but not limited to roadway or utility extensions). Working closely with the developer, the County or jurisdiction establishes a development area where the development project is planned. Public infrastructure improvements are performed and real property taxes collected on the new development in the development area are used to pay the debt service on the infrastructure improvements.

The Opportunity Zone Program is designed to encourage long-term, private investment in specific census tracts by providing a federal tax incentive for taxpayers who reinvest unrealized capital gains into Opportunity Zones. The incentive is deferral, reduction, and potential elimination of certain federal capital gains taxes. Click here for more information.

The Union County Community Improvement Corporation (CIC) has unique economic development capabilities that include the ability to borrow money, purchase and lease land and buildings, purchase and lease personal property, and issue bonds or notes.

For those jurisdictions which levy municipal income taxes or any area in which a Joint Economic Development District (JEDD) has been created, municipal income tax rebates can be given to a company in return for job creation, payroll generation, and private investment. The municipal income tax rebate works where a company agrees to private investment into real and personal property, creation of jobs, and personal income tax from the created jobs. After the company provides the projected income taxes meeting the agreement for a calendar year, the appropriate jurisdiction agrees to rebate the company a certain percentage (50% or less) of the personal income taxes collected.

A Foreign Trade Zone (FTZ ) is a site within the United States that is legally considered outside of Customs territory for the purpose of duties, so goods may be brought into the site duty-free and without formal customs entry. Union County is a subzone of the Rickenbacker FTZ #138. There are a number of benefits of being a part of an FTZ. For more information, please visit the FTZ #138 website or download more information.

Ohio Means Jobs-Union County (OMJ) assists companies with employee job placement, applicant screening, and applicant interviewing. For industrial or office developments, OMJ can also provide in-kind or, in some cases, financial assistance to companies to establish job training programs for new employees that will be hired as a result of the development.