Enterprise Zones are designated areas of land in which businesses can receive tax incentives in the form of tax exemptions on eligible new investments. The concept of Enterprise Zones is to stimulate the rate of investment through the negotiation of tax abatements and the retention and expansion of a community's tax base.
Fourteen Enterprise Zone areas have been created throughout Montgomery County in the past nine years. The fourteen current jurisdictions with enterprise zone areas are: Brookville, Dayton, Englewood, Harrison Township, Huber Heights, Kettering, Miami Township, Miamisburg, Moraine, New Lebanon, Riverside, Springboro, Trotwood, and West Carrollton. All of the zones, except Harrison and Miami Townships, can offer a company up to 75% exemption on real and personal property for a maximum of ten years without school board approval. With school board approval municipalities can offer up to 100%. In the case of Harrison and Miami Townships, State of Ohio law mandates that Townships can offer up to 60% tax exemption on real and personal property for a maximum of ten years. Maximum levels may be exceeded with school board approval.
Only those businesses that are qualified by financial responsibility and business experience to create and preserve jobs within the zone may apply for local tax incentives. The types of eligible businesses are determined by the community through its policy guidelines. Substantial investment in either real or personal property is required.
Tax incentives may be offered to new, expanding, and /or renovating businesses. The minimum investment for an expanding business to be eligible for tax incentives must equal at least 10% of the value of the existing plant and facility. If a business is interested in renovating an existing facility, the renovations must exceed 50% of the facility's value. If a business is interested in occupying a vacant facility and invests at least 20% of the facility's value to alter of repair the facility then they may also be eligible for tax incentives under the Enterprise Zone Program. The only business category that is not eligible for tax incentives under the Enterprise Zone Program are retail operations.
Economic Development 451 W. Third Street Dayton, OH 45422 (937) 225-6140