Financial Assistance & Incentives

INCENTIVES

Knox County, in cooperation with the State of Ohio, can offer your business many financial incentives when choose our county as your new location or expand your existing business within the county. There are millions of dollars available through the State for business retention and expansion, and the ADF can help identify which programs may be right for your business. The following programs are currently available in Knox County:

Ohio Enterprise Zone Program

Knox County has placed five enterprise zones over the entire county, providing the ability to grant tax exemptions on real property property. A business that chooses to locate within one of these zones may qualify for tax exemptions of up to 100% for up to fifteen years, providing that the school system is unaffected. These tax incentives can be substantial to a business over the life of the exemption. Job creation is required by the State to receive this exemption.

Community Reinvestment Area

Knox County has also placed a Community Reinvestment Area over the new land adjoining our Enterprise Complex, allowing the county to provide tax exemption on real property for commercial and retail businesses. These exemptions can range up to 100% for up to 15 years, providing that the school system is unaffected. Job creation is required by the State to receive this exemption.

Job Creation Tax Credit

Eligible companies can recieve a state franchise tax credit or rebate equivalent to a percentage fo the personal income tax liability of its new Ohio employees. The amount of the credit is determined by application to the State Tax Credit Authority and is abased on the number of full-time jobs created and the amount of investment required. The tax credit may be granted for a maximum period of 10 years. To be eligible for the credit, a project must create at least 25 full-time jobs within three years that have an average hourly wage requirement.

Research and Development Sales Tax Exemption

Companies undertaking research and development activities in Knox County may receive an exemption fromt he usual state and county sales tax when purchasing equipment related to those activities. This includes research and development activities in both direct and pure research. Direct research refers to research conducted to design, create or formulate new or better productes, equipment or processes. Pure research refers to scientific or technological inquiry and experimentation in the physical sciences.

Personal Property is NOT taxed in Ohio.