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Enterprise Zone Tax Abatement Program

Summary

The Ohio Enterprise Zone Program is an economic development tool that provides real property tax exemptions to businesses making investments in Ohio. Enterprise Zones are designated areas of land in which businesses can receive tax incentives in the form of exemptions on eligible new investment. The entire City of Cleveland has been declared an Enterprise Zone and allows for Tax Abatements in all neighborhoods, except Downtown.

Eligibility 

For-profit entity expanding in the City of Cleveland with a clear gap in project funding. 

Qualifying Investment Levels 

To qualify, the investment by the business must meet one of the following conditions:

  • An investment in an expansion must equal at least 10% of the market value of the facility prior to the expenditure;
  • The renovation of an existing facility requires expenditures totaling at least 50% of the market value of the subject facility;
  • When occupying a vacant facility or site an enterprise must incur expenditures to renovate or expand the facility equal to at least 20% of the market value of the subject facility; or establish a new facility in an Enterprise Zone.

Program Requirements

  • Enterprise Zone Agreement must be in place before the project begins;
  • Return on the investment to the City of Cleveland, based on a ratio of taxes generated versus taxes abated, must be 1.25 or greater; 
  • The business must demonstrate job creation and retention within the Enterprise Zone.