Downtown Business Incentives + Resources
The City of Cleveland offers a variety of loans and grants to help new and expanding businesses locate throughout the city, including downtown. Downtown Cleveland’s Economic Development team offers concierge services for businesses interested in city programs. Reach out to our team for more information. Click here to visit City of Cleveland’s Economic Development department.
Small Business Technical Assistance
Beyond incentives and financial resources, our team can connect small businesses with trusted technical assistance providers throughout the region, including Cleveland SCORE, JumpStart, ECDI Women’s Business Centers, the Urban League of Greater Cleveland, and Cleveland State University’s Small Business Development Center.
These organizations provide guidance and expertise to businesses at every stage—from starting a new venture to growing and expanding an established business. Get in touch with our team to learn more and find the right resources for your business.
For assistance or more information on any of the following incentives, please reach out to our Economic Development and Planning Team.
Municipal Small Business Initiative
A grant that allows businesses to reduce their equity in a SBA funded project from the required 25% to 10%.
Neighborhood Retail Assistance Program
Provides financial assistance to neighborhood retail businesses, restaurants and merchants to upgrade the exterior and interior appearance of storefronts.
Equipment Loan Program
Long-term fixed-rate loans of up to $500,000 capped at 33.3% of total project cost. Loan terms are typically 5-7 years on equipment.
Working Capital Loan Program
Helps companies that need additional working capital beyond their traditional lines of credit by promoting low interest loans currently below 3%.
Ohio Site Inventory Program
The primary goal of the Ohio Site Inventory Program (OSIP) is to fill gaps in Ohio’s real estate inventory. The OSIP offers grants and low-interest loans to support speculative site and building development projects with no identified end user.
Tech Delta Program
Designed to supply financial assistance to tech and medical companies relocating or expanding within the City of Cleveland.
Job Creation Income Tax Credit
Provides 50 percent annual tax credit based on a percentage of new income tax revenue as specified in individual economic development agreements between the City and applicants. Please contact our Economic Development team for an application to this program.
JobsOhio Relocation Incentive
Helps Ohio employers of any size in ten critical sectors expand their workforce, specifically in STEM and technical occupations, with direct incentives to attract out-of-state professionals.