Ohio has been recognized as one of the Top 5 business climates in the nation and is 2nd in the nation in both total number of new corporate facility projects and most qualifying projects per capita.
Making a commitment to eliminate a burdensome tax system, Ohio in 2005 implemented full-scale, sweeping tax reform. Ohio’s new business taxation model reduced tax burden by 63 percent over a
five-year period leading to 2010, the first year reform was fully implemented.
Ohio’s new taxation system means businesses can:
- Reduce operating costs – No tax on inventory or corporate income
- Enhance productivity – No tax on investments in machinery and equipment
- Enjoy a level playing field – All companies taxed the same low rate
- Boost return on investment – No tax on product sold to customers outside Ohio
- Reward entrepreneurship – First $1 million in gross receipts are tax-free; companies with sales between $150,000 and $1 million pay only a $150 flat fee
Ohio boasts an impressive variety of incentive offerings to align with an expanding company’s financial needs. State and local tax incentives, grants and low-interest financing offer businesses the opportunity to reduce risk while encouraging investment in Ohio.
Information provided by our partners at RGP Northwest Ohio & JobsOhio.
The Crawford Partnership serves as your dedicated resource to identify and connect you with local incentives through relationships with local government and leaders. Through strategic partnerships, we are committed to building effective solutions for your business and your industry.
Call Gary Frankhouse, executive and economic development director, to learn more about all that Crawford County has to offer.