Incentives & Financing
Cincinnati offers incentives designed to support and grow our business community.
Community Reinvestment Area
The Community Reinvestment Area (CRA) Commercial Abatement program offers companies and developers building or renovating a residential, commercial, industrial, or mixed-use facility in cases where the new or renovated facilities will result in job creation.
Job Creation Tax Credit
The City of Cincinnati may offer a job creation tax credit (JCTC) to a company that is considering expanding in, or moving to, Cincinnati. The JCTC provides an increase to a company’s yearly profits by reducing their tax obligation to the City.
Tax Increment Financing
Developers making a large-scale investment that requires substantial public improvements may be able to use tax increment financing (TIF) to offset a portion of those costs. The city has 21 tax increment districts and in some cases will create a TIF specific to a project.
Ohio Historic Preservation Tax Credit Program
The Ohio Historic Preservation Tax Credit Program is a state-level program that provides a tax credit to leverage the private redevelopment of historic buildings. This program is highly competitive and receives applications biannually, in March and September.
Designed for energy-efficiency improvements to Ohio’s commercial properties, PACE’s no down payment, extended-term financing allows for the potential to increase property value, reduce energy cost, and pass-through costs while generating positive cash flow.
Economic Development Transfer (TREX)
The Economic Development Transfer (“TREX”) helps areas of the state with an over-issuance of permits by TREX transferring them to another area of the state, meeting certain criteria. If you are unable to obtain a New Liquor Permit through the Quota System as there are no permits available, you are unable to do a regular transfer of ownership and location of a class as there are no-openings or the number of applicants on file exceeds the openings available, you can try to TREX transfer the ownership and location of someone else’s permit to you, as long as you meet the TREX requirements.
HUD Section 3
Section 3 requires that recipients of certain U.S. Department of Housing and Urban Development (HUD) financial assistance, to the greatest extent possible, provide job training, employment, and contracting opportunities for lower-income residents (regardless of race or gender).