Tax Incentive & Grant Programs

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. 

Fairfield Job Creation Incentive

The Job Creation Incentive (JCI) provides a grant for entities that create new jobs in the City. The JCI program will only be considered for projects with an industrial or office end use meeting minimum jobs, payroll, and investment thresholds. Generally, this program is only considered for projects in which a CRA property tax incentive is not available.

Ohio Job Creation Tax Credit

The Ohio Job Creation Tax Credit (JCTC) is a refundable and performance-based tax credit calculated as a percent of newly-created payroll and applied toward the company’s commercial activity tax liability. The Ohio Tax Credit Authority must approve applicants before hiring begins. 

For more information on the above programs, contact Nathaniel Kaelin at 513-867-5345 or Email Nathaniel Kaelin.

JobsOhio Programs

JobsOhio, the state’s private nonprofit corporation for business attraction, retention, and expansion efforts, offers several funding programs on both a direct and indirect basis. These include grants, loans, and tax incentives coordinated with the Ohio Development Services Agency and/or Ohio Tax Credit Authority. Learn more about these programs on the JobsOhio website. The City of Fairfield works closely with REDI Cincinnati to access JobsOhio incentives.

Other Financing & Assistance Programs

Opportunity Zones

The Opportunity Zone program was created by Congress in 2017 to stimulate long-term, private sector investment in targeted communities. The program enables investors with capital gains tax liabilities to receive a favorable tax treatment for making equity investments into eligible zones. The City of Fairfield has two designated opportunity zones, encompassing significant amounts of commercial and industrial property. To view a map of Fairfield's designated zones, click here.

Property Assessed Clean Energy Financing

Property Assessed Clean Energy (PACE ) Financing offers commercial property owners the opportunity to leverage property assessment financing to pay for energy efficiency and renewable energy projects. PACE is designed to assist commercial property owners with access to affordable, extended term financing for both new construction and energy related improvements for their buildings. The City of Fairfield is a member of the I-75 Energy Special Improvement District (ESID), an organization that facilitates PACE financing in Fairfield and neighboring communities.

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). 504 loans are available exclusively through Certified Development Companies, as designated by the SBA. For more information, visit the SBA 504 Loan website.

Ohio Small Business Development Center 

The Small Business Development Center at Miami University Regionals advise tenants, local existing business owners, and other entrepreneurs in the community on strategic planning, marketing efforts, business plans, and gaining access to financial capital. For more information, visit the Ohio SBDC at Miami Regionals website.

Ohio Grow Now Program

The Ohio Treasurer of State has set aside funds 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 negotiated interest rate of the loan. 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 the GrowNOW website.