The Ohio Job Retention Tax Credit (Non-Refundable JRTC) is a tax credit provided to companies that:

(i) If engaged at the project site primarily in significant corporate administrative functions, as defined by the Director of Development by rule, meet both of the following criteria: (a) the taxpayer either is located in a foreign trade zone, employs at least 500 full-time equivalent employees, or has an annual Ohio employee payroll of at least $35 million at the time the Authority grants the tax credit; and (b) the taxpayer makes or causes to be made payments for the capital investment project of at least $20 million in the aggregate at the project site during a period of three consecutive calendar years, or

(ii) If engaged at the project site primarily as a manufacturer, makes or causes to be made payments for the capital investment project at the project site during a period of three consecutive calendar years, in an amount that in the aggregate equals or exceeds the lesser of: (a) $50 million or (b) five percent of the net book value of all tangible personal property used at the project site.

The Ohio Historic Preservation Tax Credit (OHPTC) provides a tax credit to non-governmental owners and long-term lessees of historically significant buildings, equal to 25 percent of their qualified rehabilitation expenses (QRE), not to exceed the QRE estimates in the application, up to a maximum of $5 million. QREs are hard construction costs that meet the requirements of the U.S. Secretary of Interior’s “Standards for Rehabilitation of Historic Properties,” and some soft costs such as architectural or engineering fees.

The Opportunity Zone Tax Credit program is overseen by ODOD and is a companion to the federal incentives for investments into qualified opportunity zones implemented in the 2017 Federal Tax Cuts and Jobs Act. Ohio’s Opportunity Zone Tax Credits are available for up to ten percent of capital gains, up to $2 million per individual taxpayer (per fiscal biennium), with the total credits issued limited to $50 million per biennium.

Welcome Home Ohio Tax Credits Tax credits are available to select entities; electing subdivisions (i.e., communities with land banks) or eligible developers, which are comprised of affordable housing-focused nonprofits (notably including community improvement corporations) and for-profit pass-through entities in which such nonprofits are members. Tax credit recipients must satisfy a lengthy list of conditions.

The Transformational Mixed-Use Development (TMUD) Program awards up to $100 million in tax credits each state fiscal year for the construction of projects that will have a major economic impact on the site and surrounding area.36 (Individual TMUD projects can receive up to $40 million of such allocated tax credits.) The development must be “mixed-use”; a combination of retail, office, residential, recreation, structured parking, and other similar uses open to the public.37 A project must include at least two mixed uses. If one of the project’s uses is a parking structure, then the project must have at least three mixed uses.

The 629 Program is often available for company projects primarily involving manufacturing, research and development, technology, corporate headquarters, and distribution activity. Retail projects are ineligible. 629 Program grants are usually provided by ODOD directly to a local
jurisdiction and require local participation. All 629 Program grants are contingent upon State of Ohio Controlling Board approval and are provided on a reimbursable basis.

Projects are typically given an 18-month project completion date from the time of Controlling Board approval. Local jurisdictions must report on job creation after the 18-month project completion date has passed. The 629 Program is funded with state gas tax dollars; therefore, the available funding level varies each fiscal year. Funds may be used for costs directly related to public roadwork improvements, including engineering and design costs. Funds are distributed on a first-come, first-served basis.