Incentives & Grants
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The staff at AEDG can assist companies looking to locate in the region or existing companies seeking to expand through a variety of programs, including tax abatements, low-interest loans, and grants.
Local & County Financing
D’Arcy Loan Fund: The D’Arcy Loan Fund is a local funding source for businesses expanding or locating to Allen County. The fund provides low-interest loans to assist with Allen County economic development projects. Loan amounts are subject to the availability of funds and should be used as gap financing in conjunction with commercial lending. Preference is given to companies that create jobs, however any viable business plan will be considered.
Allen County Revolving Loan Fund: The Allen County Revolving Loan Fund is a flexible source of financing for businesses expanding or locating to Allen County. This loan program provides financing for fixed asset investments, including real estate acquisition, construction, on-site improvements, and heavy equipment purchases. Qualified businesses may access loans up to $500,000 at an interest rate equal to two-thirds of the prime rate or 3%, whichever is greater.
City of Lima Small Business Assistance Programs: For a listing of incentive programs, please visit the City of Lima’s Small Business Funding Opportunities page.
County & City Tax Incentives
Enterprise Zone Allen County: has an established Enterprise Zone, which enables companies to seek tax exemptions for new investment. The Enterprise Zone program allows for an agreement between a business and community establishing a tax exemption for a portion of the value of the new property when the investment includes job creation. The agreement must be finalized before the project begins.
Opportunity Zones: The federal Opportunity Zone program encourages investors with recently realized capital gains to reinvest those gains in local business, real estate, or development projects in exchange for a reduction in their tax obligations. The city of Lima has three Opportunity Zones, primarily located in downtown.
Community Reinvestment Area (CRA): The Ohio Community Reinvestment Area program is an economic development tool that provides real property tax exemptions for property owners who renovate existing or construct new buildings. CRAs are areas of land in which property owners can receive tax incentives for investing in real property improvements. The cities of Lima and Delphos and the village of Spencerville have established CRAs.
Port Authority Programs
Capital Lease Program: The Port Authority of Allen County offers a Capital Lease program that allows a company to be exempted from state sales tax (5.75%) on all construction materials during a building project.
BetterBuildings Northwest Ohio (BBNWO): BetterBuildings Northwest Ohio offers competitive fixed-rate Property Assessed Clean Energy (PACE) financing for projects that focus on conserving energy and generating savings through energy-efficiency retrofits in new and existing facilities. Eligible energy-efficiency improvements for all building types and sizes can be financed through PACE and repaid via a special assessment on the facility located within an Allen County Energy Special Improvement District (ESID).
JobsOhio Incentives
The AEDG team assists companies through the application process for all JobsOhio programs.
JobsOhio Small Business Grant: Get up to $50,000 for your business expansions, including real estate investments, machinery, equipment, and training. Grants can be awarded to companies with annual revenue of less than $25 million and that operate within one of the JobsOhio 10 target industries, with B2B sales.
Talent Acquisition Services: The JobsOhio Talent Acquisition Services program helps identify a company’s talent challenges and builds sustainable talent strategies that support every stage of the candidate journey. Guided by years of experience, JobsOhio’s team of experts partners with your company to navigate Ohio’s workforce ecosystem and deliver customized workforce solutions that lead to long-term success.
JobsOhio Relocation Incentive: The JobsOhio Relocation Incentive helps Ohio employers of any size in ten critical sectors expand their workforce, specifically in STEM and technical occupations, with direct financial incentives to attract out-of-state professionals.
For a full list of JobsOhio incentives and workforce programs, visit jobsohio.com
State Financing, Grants, & Other Programs
Ohio Regional 166 Loan: (Ohio Dept. of Development) The Ohio Regional 166 Loan Program provides low, fixed-rate financing for fixed assets such as real estate purchases, construction/improvements, and non-rolling stock equipment. The program primarily supports projects for for-profit manufacturing, distributing, and wholesaling businesses throughout Ohio. A typical transaction consists of 50% bank financing, 40% Ohio 166 loan, and 10% owner equity.
SBA 504 Loan: (U.S. Small Business Administration) The U.S. Small Business Administration 504 Loan provides long-term, fixed-rate financing for fixed assets such as real estate purchases, construction/improvements, and non-rolling stock equipment. The program will support most for-profit businesses that demonstrate the project will create and/or retain jobs in the region. This program can also finance start-ups and incorporate refinancing.
Women’s Business Enterprise Loan Program: This loan program is designed to stimulate the growth of existing women-owned businesses by providing loans at market rate or below market rate interest (currently up to 3%). The minimum loan amount is $45,000 up to a maximum of $500,000. Loans will be repaid within 10 years for equipment and machinery and 15 years for owner-occupied real estate.
Ohio Micro-Loan Program: This loan program is designed to stimulate the growth of new and existing businesses by providing micro-loans at 0% interest. The minimum loan amount is $10,000 to a maximum of $45,000. Loans will be repaid within five years for permanent working capital and seven years for equipment. The business must have its principal place of business and its business operations located in Ohio.
Ohio Environmental Protection Agency Grants
Market Development Grants: (Ohio EPA) Ohio EPA’s Market Development Grant provides Ohio businesses opportunities to create or expand recycling processing capacity and recycled material production. This includes funding for equipment specifically needed to remanufacture recyclable materials into bulk raw material or finished product. Businesses could partner with the Port Authority of Allen County for grants.
Ohio Treasurer
Buckeye Business Advantage (Ohio Treasurer): The program gives Ohio entrepreneurs an edge by allowing for reduced interest rates on small business loans through participating financial institutions.
Ohio Bureau of Workers’ Compensation Grants
Safety Grants: (Ohio Bureau of Workers’ Compensation) Safety Grants are designed to help employers increase workplace safety and decrease risks. The grants support initiatives across various industries, from manufacturing to health care, developing a culture of safety and well-being for employees.
The Comprehensive Economic Development Strategy
Shaping Our Region’s Future Together
The Comprehensive Economic Development Strategy (CEDS) serves as our region’s roadmap for economic growth, workforce development, infrastructure investment, and community prosperity. Developed through community collaboration, the CEDS identified priorities, opportunities, and action steps that will strengthen our economy and improve quality of life for years to come. We invite you to explore the strategy!