Financial Assistance

We offer numerous financial tools to assist the needs of a growing business. Financial incentives are used strategically to leverage significant business expansions or relocations. Incentives are based on the benefits a project represents for the community and whether tax incentives are necessary to secure the project for Columbus. Criteria include the amount of investment and job creation and/or retention, and whether the project involves a priority sector or targeted geographic area.

Property Tax Abatement:
Enterprise Zone – The Enterprize Zone covers about 97% of the City and allows us to abate new property taxes up to 75% for 10 Years.

Community Reinvestment Area – We currently have nine Pre-1994 CRAs and 7 Post-1994 CRAs within the City. These CRA districts allow abatement on new property taxes up to 100% for 15 years.

Performance Incentives:
Downtown Office Incentive - Payment equal to 50% of local income tax withholdings for a negotiated amount of years for new jobs created and retained within Downtown.

Large Employer Office Incentive – Payment equal to 50% of local income tax withholdings for a negotiated amount of years for large-scale (500+) job creation and retention within the City.

Jobs Growth Incentives – Payments equivalent up to 30% of local income tax withholdings for a negotiated amount of years for non-Downtown job creation and retention within the City.

Capital Improvements Funds:
Downtown Streetscape Improvements – Funding for Downtown Commercial and residential projects to be used specifically for streetscape projects.

Capital Improvements for ED – Funding for improvements in the public right-of-way to assist in the development of commercial sites.

Urban Infrastructure Recovery Fund – Annual awards made to central city neighborhoods for capital improvement proposed by the neighborhood.

Business Loans:
Business Development Loan Fund – Loan of up to $200,000 for acquisition of machinery and equipment or real estate.

Working Capital Loan Fund – Loan of up to $50,000 per year for five years to be used for operating costs.

NCR Investment Fund – Loan of up to $200,000 for fixed asset financing within the NCR Districts.

NCR Commercial Investment Fund – Loan of up to $25,000 for exterior renovation of real property within the NCR Districts

NCR Façade Renovation Fund – 0% interest loan of up to $7,500 for exterior renovation of real property within the NCR Districts