"We understand what it takes to attract and keep world-class corporations."
Relocation and Expansion Incentives
Financial incentives are provided by the Ohio Development Services Agency for business relocation and expansion.
These incentives are used to select companies that create new, high-paying jobs that help improve the standard of living, diversify the state economy, increase the tax base, attract and retain top-level management, and encourage graduates of in-state universities to remain in Ohio.
Incentives may be offered as either grants or tax credits. The incentive amount and duration is decided by the Ohio Development Services Agency and local government based on statutory guidelines and evaluation criteria including the financial strength and historical stability of the company, the number and salary of jobs created, amount of new state tax revenue, long-term capital investment, competition with other locations, and whether the company is in a targeted industry.
All state incentives are awarded on a post-performance basis so that companies must meet specific milestones, including generation of new state tax revenue. This assures a positive “return on investment” to the State of Ohio and its citizens.
Revolving Loan Fund
The Preble County Development Partnership is dedicated to facilitating growth and success of job-creating businesses. We would like to talk with you about how the revolving loan fund might help you grow your business in Preble County. Give us a call at 937-456-2757.
This fund supports businesses that locate or expand in Preble County by offering low interest loans. The acceptance criteria and funds available fluctuate, but the following information will give you some general guidelines to consider:
ELIGIBLE TYPES OF LOANS
● Fixed Assets
● Property Acquisition
The primary purpose of the Preble County Development Partnership Revolving Loan Fund Program (PCDP-RLFP) is to provide assistance to businesses which will create or retain private-sector jobs in Preble County. More specifically, the PCDP-RLFP is intended to:
Aid in the reduction of the unemployment rate in Preble County;
Stimulate private-sector investment;
Provide economic assistance to local businesses wishing to expand their operation;
Provide a means of financing where other loan programs and private lending institutions are unable to meet the needs of the business.
Loans through the PCDP-RLFP are limited to those businesses located or wishing to locate in an area of Preble County which lies within all of the villages and unincorporated areas of Preble County, and the City of Eaton, including the following:
Villages: College Corner, Camden, Eldorado, Gratis, Lewisburg, New Paris, Verona, West Alexandria, West Elkton, West Manchester - Townships: Dixon, Gasper, Gratis, Harrison, Israel, Jackson, Jefferson, Lanier, Monroe, Somers, Twin, Washington - Unincorporated: Fairhaven, Morning Sun, New Hope - City: Eaton
Must be a business which is or will be located in Preble County;
Priority given to industrial, manufacturing and distribution companies; Retail and professional services will also be considered;
Priority given to loans for fixed assets: equipment and/or plant expansion;
A minimum of one job must be created or retained for every $35,000 of PCDP-RLFP funds borrowed;
In no circumstances does the PCDP-RLFP provide more than 50% of the financing for a project; the applicant business is required to inject at least 10%;
There must be “necessary and appropriate determination” for utilizing the PCDP-RLFP, including one of the following;
Inability on the part of the business to obtain a conventional loan
Inability on the part of the business to afford conventional down payment
Incentive-based need to attract or retain a business