How Can We Help

An expanding economy is critical to increasing the health and well-being of all Union County communities. Union County and various local entities (“stakeholders”) recognize the need to provide incentive programs and financial support to strengthen and diversify the County’s economy.

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 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.

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.

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.

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.

The Village of Richwood established a Community Reinvestment Area (CRA) 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.

The Richwood-Claibourne Township Enterprise Zone provides businesses with valuable tax incentives to promote economic growth and job creation in northern Union County. This designated area supports new and expanding businesses by offering financial benefits that encourage investment in infrastructure, facilities, and workforce development. With its business-friendly environment and strong community support, the Richwood-Claibourne Township Enterprise Zone is an excellent opportunity for companies looking to establish or grow their operations in Union County.