Grants & Subsidies
Work Force Guarantee Program
The Ohio Department of Development’s Work Force Guarantee Program provides customized training grants aimed at creating and retaining jobs via the improvement of worker skills and abilities in expanding industries and emerging technologies. Through the program, the state can reimburse a company for up to one-half of the instructional costs for eligible training, excluding trainee wages. The amount of grant will depend upon the wages of jobs, cost of training, and eligible expenses. While the Ohio Workforce Guarantee has been used in a wide variety of economic incentive packages aimed at attracting and retaining Ohio jobs, the program’s focus is on targeted industries, and funding training that results in transferable skills, as evidenced by portable credentials. Targeted industry sectors include Logistics, Information Technology, Advanced Manufacturing, Bioscience, Advanced Energy, Agriculture/Agribusiness, and Healthcare.
The Ohio Department of Development has funds through various sources (such as Roadwork Development Account, Community Development Block Grant, and Appalachian Regional Commission) available for infrastructure improvements serving a project site. The funds are usually granted to a community. Eligible activities can include water or sewer line extensions, road upgrades, and rail spurs. The Department usually funds only a portion of any such project and works with the company and local community to complete the required financing. The actual grant amount will be determined by fund availability, the costs of the infrastructure improvements and the number of jobs related to the project.
Rapid Outreach Grant
The Ohio Department of Development controls the Rapid Outreach Grant program. Funds are for on- or off- site infrastructure improvements, including water, sewer, road, and rail improvements. Funds are often used for the acquisition of machinery and equipment. These funds are given to companies primarily engaged in manufacturing, research and development, high technology, corporate headquarters, and distribution. Given the demand for limited grant funds, qualified projects must involve substantial job creation or retention, and all other public and private sources of financing must be considered before the availability of Rapid Outreach funding is determined.
Advanced Energy Development & Utilization
Ohio Advanced Energy Fund: Administered by the Ohio Energy Resources Division of the Ohio Department of Development. The Ohio Advanced Energy Fund connects companies and communities with financial and technical resources to deploy energy efficiency and renewable energy technologies, and to support advanced energy economic development.
Ohio Energy Gateway Fund
The State of Ohio established the Ohio Energy Gateway Fund to co-invest $40 million in advanced energy projects and companies. The Fund created a partnership with private capital in order to significantly leverage the state's original commitment of stimulus funds. The fund is a $40 million commitment of Advanced Energy Stimulus funds from the Ohio Jobs Stimulus Plan and American Recovery and Reinvestment Act State Energy Program funds. The goal of the fund will be job creation and growth in the primary and supplier network of the advanced energy sector within Ohio. Supporting transformational projects that will result in the creation of jobs, the Fund will accelerate projects in a wide range of areas, including wind, solar, geothermal, solid waste, energy efficiency, hydroelectric, electric batteries and fuel cells, energy storage, advanced solid waste, and generation III nuclear.
Advanced Energy Stimulus for Ohio and Conduit Financing
Administered by the Ohio Air Quality Development Authority, the Bipartisan Job Stimulus Package created a $150-million advanced energy jobs stimulus fund. Funding is issued through a competitive application basis in the form of partially forgivable loans. The Ohio Air Quality Development Authority also has the ability to issue conduit bonds for projects that improve the air quality of the State of Ohio. Such projects include, but are not limited to, air pollution control, air pollution prevention, energy efficiency, advanced energy technologies, and the manufacturing of those technologies. The Ohio Air Quality Development Authorities can convey significant tax benefits to eligible projects.
Community Development Fund
The CDC proceeds are managed by the Coshocton Foundation and can only be released by its distribution committee and the Coshocton Port Authority’s Board of Directors. This fund is restricted to the following purposes:
Provide financial support for entrepreneurs and small businesses
Acquisition of land and other site development costs associated with establishing or expanding a business or commerce park
Provide lease subsidies or business development grants of up to $25,000 to private enterprises which will create jobs in Coshocton County
Provide relocation assistance grants of up to $2,500 for Coshocton County high school graduates who return and create a new business
To fulfill local match requirements for economic development activities supported by the state of federal government