Tax Incentive

Fostering the prosperity of your business in Streetsboro is essential to the mission of the City. The City provides many critical business support services ranging from planning and development assistance to customized incentives and workforce development with the assistance of our partners.

Incentives 

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The Ohio Enterprise Zone (EZ) and Community Reinvestment Area (CRA) programs are economic development tools providing real property tax exemptions for property owners who renovate existing or construct new buildings.  Enterprise Zone and Community Reinvestment Areas are areas of land, approved by the State of Ohio, in which property owners can receive tax incentives for investing in real property improvements. For information, call 330.297.4942.

JobsOhio Loan and Grant Programs – Ohio offers performance-based incentives to assist companies that are starting, relocating or expanding operations in the state. Funding decisions are based upon a number of project factors, including, but not limited to job creation, payroll figures, fixed-asset investment commitment, project location and project return on investment. For information, call 800.3848.1300.

First Energy Business Incentives – FirstEnergy’s Ohio utilities offers a variety of programs and resources to help eligible business customers manage their energy use. For information, call 330.397.4817.

SBA 504 – Financing can be used for the purchase of new or existing land and buildings, building additions, machinery/equipment and fixed assets associated with purchase of an existing business. For information, call 330.379.3160.

166 Regional Loan – Financing can be used for the purchase of new or existing land and buildings, building additions and machinery/equipment. Minimum loan amount is $50,000 and the maximum is $500,000. For information, call 330.379.3160.

Portage County Port Authority –  The Portage County Port Authority offers a wide array of economic development tools that can be used throughout Portage County. For information, call 330.297.3470.

Neighborhood Development Services (NDS) – As a full service community development catalyst,  services  include financing and real estate development.   For information, call 330.297.6400.