| State: |
OH |
| Incentive Type: |
Income/Franchise Tax Incentives and Credits |
| Incentive Title: |
Jobs Credits |
| Description: |
1. OHIO JOB CREATION TAX CREDIT: Refundable franchise/income tax credit based on new jobs created at facilities in Ohio. Beginning on July 1, 2008 credits may be applied to the Commercial Activity Tax (CAT).
2. OHIO JOB RETENTION TAX CREDIT: Nonrefundable tax credit for businesses to retain operations and current employee levels in Ohio. Beginning on July 1, 2008 credits may be applied to the Commercial Activity Tax (CAT). |
| Eligibility Requirements: |
1. Business must create a minimum of 25 jobs (15 jobs for specific technology jobs) with salary of at least 150% of minimum wage. Tax credit must play major role in decision to go forward with project. Local community must also provide financial support.
2. Available to those businesses that employ 1,000 full-time employees and make a capital investment of $200 million. The credit recipient company is normally a manufacturing firm or provides major corporate administrative services. The tax credit must play a significant role in the company's decision to stay in Ohio. Local community must also provide financial support. |
| Geographic Restrictions: |
Statewide |
| Granting Authority: |
Ohio Tax Credit Authority |
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