HOLMES COUNTY
Financing Tools
2 Court Street, Suite 21 • Millersburg, Ohio 44654 • (330) 674-8625 • Fax: (330) 674-1582• e-mail: hcpc@valkyrie.net
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The following is a list of financing tools available to businesses within Holmes County. Holmes County Enterprize Zone Program- Tax incentives available for Real Estate and Personal Property. Tax incentives range from 25%-50% depending upon project size. Incentive is negotiable. See Holmes County Guidelines. Contact: Arnold Oliver 330-674-8625 Tax Increment Financing (TIF)- Creates a tax district that may be used to develop infrastructure that directly benefits the industry. No existing TIF District is currently in place for Holmes County. Contact: Arnold Oliver 330-674-8625 Toledo-Lucas County Port Authority- Long term lease, off balance sheet financing, favorable rates, loans, etc. Loans may be tax exempt for manufacturing business or 501 C3 Non Profit. Contact: Jerry Arkebaur 419-243-8251 Machinery & Equipment Tax Credits- (7.5% for total value of capital equipment spread over a 7 year period) Requires the creation of 25 jobs. Contact: Bill Gotschall 740-439-2263 Jobs Creation Tax Credit- Possible to receive up to 60% credit against corporate franchise tax. Requires creation of 25 jobs over the next three years. Contact: Bill Gotschall 740-439-2263 OMEGA Revolving Loan Fund- Loan up to $100,000 at 4%. Must create 1 job for every $15,000 in loan. Requires partnership with a local bank. Loan committee may be willing to accept a higher risk loan or take a subordinate position to allow a borderline project to be funded. Contact: Lolly Ravak 1-800-726-6342 |
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| State 166 Loan
Program- Below market
rate loans that are typically do not exceed 2/3 of the current prime
rate. Contact: Ohio Department of Development 1-800-848-1300
Community Development Block Grant-Economic Development- Program offers loans and grants that must be administered through Holmes County Economic Development. Program can fund infrastructure that directly benefits the corporation. They also offer loans that may only be used for construction of a facility. Typically this is funneled through the Holmes County Community Improvement Corporation. Contact: Mary Oakley 1-800-848-1300 or Arnold Oliver 330-674-8625 State of Ohio-Economic Development Training Program- Program will pay up to 50% for the cost of training employees. It will not pay employee wages. Pays for items associated with instructional costs. Contact Bernie Murphy 740-439-2263 Ohio Job & Family Services- Training Tax Credit available to businesses at a rate of $1,000/employee maximum. Cannot exceed a total of $100,000 for a facility. Contact: Dan Jackson 330-674-1111
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