Programs & Incentives

The State of Ohio is the perfect place for business and Bethel Township is no exception.  The State has unveiled a new tax reform including:

• A reduction in the State Personal Income Tax rate by 21 % over 5 years.
• Reduction in the State Sales and Use Tax of .5%
• A complete phase out of the Corporate Franchise Tax by 2010
• Total elimination of the General Business Tangible Personal Property Tax by 2009
• Eliminated the tax on manufacturers’ machinery and equipment placed in service in Ohio on or after January 1, 2005

Financial Assistance for Ohio Businesses
Ohio has established itself as a place where business opportunities can be financed. Through a variety of direct loan programs, Ohio provides long-term financing to growing businesses at favorable rates.  The Direct Loan (166 Loan) can provide eligible companies with below market financing for up to 15 years.  Other direct financing programs are the OSDC/SBA 504 Loan and the Ohio Enterprise Bond Fund.

Ohio Job Creation Tax Credit
State and municipal tax incentives are available for businesses that expand or locate in Ohio. State guidelines regulate the type of business and projects eligible for the incentive.  Businesses must agree to create at least 25 new, full-time jobs within three years of operations and pay at least 150% of the current federal minimum wage. Other eligibility requirements must be met to qualify.

Ohio Investment in Training Program (OITP)
OITP provides financial assistance and technical resources for customized training involving employees of new and expanding Ohio businesses. Projects may qualify for up to 50 percent reimbursement for manufacturing and selected business sectors. The company must make a significant capital and training investment related to creating and retaining jobs.

TOWNSHIP INCENTIVES 

In order to encourage desirable growth and maintain our unique character Bethel Township has established various programs and incentives. Our current programs and incentives include the Water and Sewer Grant and the Agricultural Easement Purchase Program.

Bethel Township Enterprise Zone
The Enterprise Zone Program offers exemptions on new real or tangible personal property for up to 10 years for eligible projects. Enterprise Zone agreements are negotiated with the Township and the actual percentage of abatement usually depends on the overall size and scope of the project.  Only non-retail businesses can qualify.  Enterprise Zone Incentives are available only on land found in the extreme southern portion of Bethel Township.  Bethel Township Enterprise Zone Map

 ADDITIONAL INCENTIVES

Bethel Township has the tools available to assist you in making your business development project a reality including a variety of business incentives to qualifying businesses that invest and create jobs in Bethel Township, Miami County. A summary of local incentives administered by Miami County area listed below:  

Miami County Revolving Loan Funds
Revolving Loan Funds (RLF) help to encourage the retention, expansion and stability of the county’s economic and employment base. The RLF Programs work in partnership with local lenders to provide below market financing for projects that would not otherwise be feasible.  Eligible borrowers include manufacturing, wholesale, retail and service business located in Miami County.

Miami County Job Center
The Miami County One-Stop Job Center can assist companies in hiring, screening and training of new or existing employees.  The Job Center can also provide customized assistance for your project.
Additional programs and incentives may be available through the Miami County Economic Development office.