The West Central Ohio Industrial Center (WCOIC) was designed to provide an impressive package of local incentives to attract and retain business.  Coupled with Ohio's agressive tax reforms and state incentives, grants, and low-interest financing programs, the WCOIC incentives include:

Local Job Creation Tax Credits

The program provides a refundable tax credit against a company's corporate franchise or income tax based on the local income tax withheld from new, full-time employees.

Community Reinvestment Area (CRA) Real Property Tax Exemption

The program provides exemption for any increases in assessed value of real property attributable to new construction or remodeling undertaken at the site.  Exemption on new construction can be granted up to 100% for a period of up to 15 years. Remodeling can be granted up to 100% for up to 12 years. 

Tax Increment Financing (TIF) District

The TIF program works by locking in the taxable worth of real property at the value it holds at the time authorizing legislation was approved.  Payments derived from the increased assessed value of any improvements to real property beyond that amount are directed towards a separate fund to finance the construction of public infrastructure projects relating to the district.  The West Central Ohio Industrial Center TIF provides a 100% exemption for a period of 30 years.

Revolving Loan Fund Program

This low interest loan program can be used in conjunction with private lenders for either new of expanding business projects. Loans can finance up to 50% of total project costs with a maximum of $25,000 per job created. Interest rates are determined on a project-by-project basis and are typically fixed below current market rate. Terms are 5-7 years for purchase of machinery and equipment and 10-15 years for real estate acquisition.

Regional 166 Direct Loan

The program provides low interest loans for land and building acquisition, construction, expansion or renovation, and equipment purchases for eligible businesses.