Economic Development

Government Equity

Economic Development/Government Equity (ED/GE)

The ED/GE Program was established by the Montgomery County Commissioners in 1992 to attract jobs and retain the County’s tax base, reduce inter-local competition for development, enable the County to successfully compete as a region in national and international markets, and to share the benefits of county-wide economic prosperity among all jurisdictions in the County. Twenty-eight (28) jurisdictions, representing 97% of Montgomery County’s population, are members.

ED/GE consists of two components: economic development (ED) and government equity (GE). The program is funded by the Montgomery County Commissioners and with county wide sales tax proceeds for a nine-year period. ED/GE funds are to be used primarily to establish or expand commercial, industrial and research facilities and create and preserve job and employment opportunities. For more information: http://www.mcohio.org/services/ed/edge.html

Enterprise Zone Tax Abatements

Miami Township can grant tax abatement for improvements placed on land; taxes on unimproved land cannot, under Ohio law, be abated. This means that the Township can eliminate the real estate taxes due on a building for a number of years, not to exceed ten.

This is a significant savings: as an example, assume that your company erects a 30,000 square foot factory or office building at a cost of $1,000,000. For normal tax purposes, this new building would be assessed at 35% of the actual value, resulting in an annual tax of $22,750 ($350,000 at a hypothetical tax rate of $65.00 per $1,000 equates to annual tax of $22,750.00). Ten years x $22,750.00 equates to a savings of $227,500.00! New personal tangible property can also be abated.

Tax Increment Financing (TIF) Programs

TIF Districts or Programs may be approved by the Township Trustees by resolution declaring the infrastructure improvements to a parcel of real property to be a public purpose. The business uses its real property tax to finance public infrastructure improvements that directly benefit their place of operations and thereby extend the public infrastructure. The Ohio Revised Code Section 5709 provides that up to 75% of the value of real property taxes can be exempted for up to ten years, which requires an annual service payment in lieu of taxes. Payment in lieu of taxes cannot exceed the annual debt service of the notes or bonds used to finance the public infrastructure improvements. The rate and terms can extend up to 100% for up to 30 years with School Board approval.

County Corp Loans

County Corp is a private corporation working in cooperation with Montgomery County. County Corp offers, or administers, a variety of services which are usually less cumbersome than other government programs. Those services include:

Business Incentives Tax Credits

  • Ohio Job Creation Tax Credit
  • Ohio Job Retention Tax
  • Ohio Research and Development Investment Tax Credit
  • Training Tax Credit
  • Ohio Manufacturing Machinery & Equipment Grant/Ohio Manufacturing Machinery & Equipment Investment Tax Credit
  • Technology Investment Tax Credit
  • Research and Development Sales Tax Exemption
  • Manufacturing Machinery & Equipment Sales Tax Exemption
  • Warehouse Machinery & Equipment Sales Tax Exemption
  • Warehouse Inventory Tax Exemption
  • Ohio Historic Preservation Tax Credit
  • Community Reinvestment Areas