Government programs in Ohio offer financial assistance and guidance to businesses expanding in the area.
Ohio Department of Development
Ohio Small Business Development Centers
Provide in-depth counseling, management/technical assistance, entrepreneurship education, training and advocacy. Centers network government, academic and business resources for small business development. Specialty counseling in manufacturing diversification and international trade is available.
Contact: Office of Small Business, (614) 466-2711.
One-Stop Business Permit Center
Provides new entrepreneurs with information about licenses and permits required by the State of Ohio; directs callers to proper area for technical, financial and management resources; acts as advocate for licensing and permit problems.
Contact: Office of Small Business, (614) 466-4232.
Ohio’s Small Business Innovation Research Program
Assists companies through Ohio’s Thomas Edison Program in applying for research funds through the federal Small Business Innovation Research Program. The program also assists businesses in identifying research topics and writing proposals and offers educational workshops and conferences.
Contact: Ohio Small Business Innovation Research Program, (614) 466-3887.
Women’s Business Resource Program
Provides assistance for start-up, expansion and management of businesses owned by women; assures equal access to state business assistance and lending programs; direction to purchase and procurement opportunities with government agencies.
Contact: Women’s Business Resource Program, (614) 466-4945.
Ohio Mini-Loan Guarantee Program
Provides loan guarantees for fixed assets and equipment for small businesses start-up or existing business expansion for projects of $100,000 or less.
Contact: Division of Minority Business Affairs, (614) 644-7708.
166 Regional and Direct Loan Programs
Provide loans for land and building acquisition, expansion or renovation and equipment purchase.
Contact: Office of Financial Incentives, (614) 466-5420.
Ohio Job Creation Tax Credit
Provides corporate franchise or state income tax credit for businesses that expand or locate in Ohio.
Contact: Office of Tax Incentives, (614) 466-4551.
Ohio Manufacturing Machinery & Equipment Investment Tax Credit
Provides a nonrefundable corporate franchise or state income tax credit for a manufacturer that purchases qualified new or retooled machinery and equipment used in manufacturing.
Contact: Office of Tax Incentives, (614) 466-4551.
Ohio Treasurer’s Office
- Small Business Linked-Deposit
Can reduce the rate on a qualified small business loan for the expansion or upgrade of facilities or equipment. Eligibility is tied to job creation and retention.
- Agricultural Linked-Deposit
Can reduce the rate on a qualified farm loan to offset seasonal start-up costs and assist in times of poor markets or seasonal conditions. Eligibility is based on demonstrated economic need.
- BidOhio
Internet-based auction of large deposits of interim Ohio Treasury funds for Ohio financial institutions. Any Ohio depository financial institution may apply for the monthly auction of $42.5 million.
- Access Ohio
Can reduce the rate for qualified small business on a loan to upgrade facilities or equipment. The purpose of the loan must be to comply with Americans with Disabilities Act specifications or create a more “disabled-friendly” environment for customers or employees with disabilities.
How to reach: For more information on these and other State Development programs and services, visit www.resourceohio.com or call (800) 848-1300. For information on programs and services available through other State of Ohio agencies, visit www.state.oh.us.
