The Ohio Development Services Agency (ODSA) offers a number of Tax Credits to businesses willing to locate in Ohio. The Ohio Job Creation Tax Credit (JCTC), the Training Tax Credit, and the Ohio Manufacturing Machinery and Equipment Investment Tax Credit are a few of the most commonly used.
Ohio Job Creation Tax Credit
The Ohio Job Creation Tax Credit (JCTC) is a state program that credits back state income tax for businesses that expand or locate in Ohio. The Ohio Tax Credit Authority determines the businesses eligibility for JCTC and the local community must also provide support for the project. JCTC is only an option when 25 or more new full-time positions are created.
Training Tax Credit
The Training Tax Credit provides tax credits for employers that will train existing employees who could lose their jobs because of lack of training. Businesses will receive up to $100,000 per year. This program shows the states support for retention projects in the state.
Ohio Investment in Training Program
The Ohio Development Services Agency (ODSA) offers a program called the Ohio Investment in Training Program (OITP). This program provides up to 50% reimbursement for instructional costs, materials and training-related activities with an emphasis on the manufacturing sector.