A variety of business assistance programs are available to companies already located in Fairfield or those new to the city. The State of Ohio, Butler County and the City of Fairfield all offer programs and often will coordinate assistance packages to fit individual business needs.
Community Reinvestment Areas
The Community Reinvestment Area (CRA) Program provides real property tax incentives for businesses that expand or locate in certain defined areas in Fairfield. Eligible businesses agree to make significant investment in new construction or rehabilitation of an existing facility and to create new employment opportunities. For more information, contact Alex Kraemer of the City of Fairfield at (513) 867-5345 or email@example.com.
The Enterprise Zone Program provides real and personal property tax incentives for businesses that expand or locate in Fairfield. The program is limited to non-retail projects in which significant investment is made in real and personal property and new employment is created. For more information, contact Alex Kraemer of the City of Fairfield at (513) 867-5345 or firstname.lastname@example.org.
Ohio Job Creation Tax Credit
The Job Creation Tax Credit Program provides corporate franchise or state income tax credit for businesses that expand or locate in Fairfield. Eligible businesses must create at least 25 new full-time jobs (10 jobs under special circumstances) within three years. For more information, contact Alex Kraemer of the City of Fairfield at (513) 867-5345 or email@example.com.
Small Business Administration 504 Loan Program
The Small Business Administration 504 loan program provides growing businesses with long-term, fixed-rate financing for major fixed assets (real estate, machinery and equipment). Minimum project size is $120,000. For more information, contact Access Business Development and Finance Inc. http://accessbdf.com/index.html
Ohio Grow Now Program
The Ohio Treasurer of State has set aside more than $600 million statewide for small business loans through the GrowNOW interest rate reduction program. When a business is approved for a loan at an eligible bank, GrowNOW provides an additional three percent discount on the loan's already negotiated interest rate. The program can be used by businesses that are organized for profit, have less than 150 employees and are headquartered in Ohio. The maximum loan is $400,000 and there is no application deadline. The borrower must demonstrate that the loan will be used to either create or retain jobs in Ohio. The loan may be used to purchase equipment or inventory, or to provide working capital. For more information visit: www.grownow.ohio.gov
Ohio Investment in Training Program
The Ohio Investment in Training Program (OITP) provides financial assistance and technical support for customized employee training for new and expanding Ohio businesses. OITP provides up to 50% reimbursement for instructional costs, materials and training-related activities. For more information, contact Leah Winkler of the Ohio Department of Development at (513) 312-2584.
For more information regarding business incentives, please visit the following sites: