Develop Downtown
Incentives, easements, and other resources are available to support your project. Our Economic Development team makes navigating city, county, state, and federal programs easy. From permitting and approvals to connecting with the appropriate contacts, we help streamline the path forward so you can focus on building.
Incentives + Resources
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Tax rate freeze on 15 years of additional assessed value for residential construction or building conversion.
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Financial discounts and/or infrastructure improvements for a project.
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Tax reductions on commercial projects.
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Construction or renovation projects that create affordable housing units (minimum of 20% of units within the project), defined as 100% of Area Median Income (AMI) are eligible for incentives ranging from 85-100% tax reduction.
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Provides an incentive for applicants to invest in projects in economically distressed areas
known as “Ohio Opportunity Zones.” These Ohio Opportunity Zones are qualified
opportunity zones in this state designated by the Federal Statute 26 U.S.C. 1400Z-1. Learn more.
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Allows owners of qualifying affordable rental projects to claim tax credits against state taxable liabilities over a 10-year Credit Period. These credits are then exchanged by investors and syndicators for equity to help construct or preserve affordable rental housing throughout the state. Learn more.
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Awards tax credit allocation authority to Community Development Entities (CDE) serving Ohio that serve as an intermediary between investors and projects. The investor provides cash to a CDE in exchange for the tax credit (39 percent of their investment claimed over seven years). The CDE uses the cash for projects in low-income communities. Learn more.
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Provides a tax credit against eligible expenditures paid or incurred during the development of a mixed-use real estate project. Includes new construction and/or improvement of vacant buildings that will have a transformational economic impact on the project site. Learn more.
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Provides a refundable, tax credit of 30 percent on production cast and crew wages plus other eligible in-state spending. Learn more.
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Provides a state tax credit up to 25% of qualified rehabilitation expenditures incurred during a rehabilitation project, up to $5 million. Learn more.
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Provides grants for the cleanup of brownfield sites, to assist in the remediation of hazardous substances or petroleum at an industrial, commercial, or institutional property. Learn more.
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Refundable and performance-based tax credit calculated as a percent of created payroll and applied toward the company’s commercial activity tax liability. Learn more.
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Grants and low-interest loan programs to support speculative site and building development projects with no identified end user to fill gaps in Ohio’s real estate inventory. Learn more.
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Helps Ohio employers of any size in ten critical sectors expand their workforce, specifically in STEM and technical occupations, with direct financial incentives for attracting out-of state professionals. Learn more.
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Offers loans and grants to bridge the financial gap between the appealing cost of brownfield sites and the cost of site redevelopment. This program mitigates financial risk and accelerates projects, returning land and buildings to productive use more efficiently. Learn more.
Why Downtown Cleveland?
Downtown Cleveland is where a vibrant urban core meets two shimmering shores.
From casting a line at Voinovich Park or visiting the Rock & Roll Hall of Fame on Lake Erie to kayaking or dining along the Cuyahoga River, our dual-waterfront-downtown bustles with commerce and recreation. Between our waterfronts sits a storied city center brimming with energy. Our star-studded food scene, tapestry of local retailers, and unique destinations provide the urban experience that keeps people coming back for more.