FINANCIAL Incentives + RESOURCES
The City of Cleveland, Cuyahoga County, and the State of Ohio offer economic development programs designed to help businesses grow, create jobs, and generate the revenues necessary to provide quality city services that help attract and retain talent. Our Business Development Center can help your enterprise identify and navigate which programs will work best for you.
CITY OF CLEVELAND
Job Creation Incentive Program
Grant assistance for new businesses creating five or more jobs within a year or for existing businesses with significant jobs growth.
Municipal Small Business Initiative
A grant that allows businesses to reduce their equity in a SBA funded project from the required 25% to 10%.
Vacant Property Initiative
Eligible activities are property acquisition, environmental site assessments, site clearance and demolition, “as is” and “as completed” property appraisals, new construction and renovation.
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 providing low interest loans currently below 3%.
CUYAHOGA COUNTY
Economic Development Loan Program
Provides businesses with long term, fixed-rate financing at interest rates lower than conventional financing. Loans can be used to finance the acquisition of land, buildings, machinery and equipment as well as for new construction, renovation, expansion and/or conversion of facilities.
Brownfield Redevelopment
The purpose of this division includes creating and retaining jobs, generating new sources of revenue for local governments, schools and county programs; encouraging redevelopment of vacant abandoned properties, promoting the County Greenspace Plan.
Business Growth Acceleration Program
To enhance the growth opportunities and maximize the potential of businesses and industries already in the region. The Program provides Economic Development Loans to businesses that are relocating, expanding or building new facilities and creating and retaining jobs in Cuyahoga County. Economic Development Loans are structured to leverage private investment and stimulate business expansion and growth.
Large Scale Attraction Loan Program
Provide gap financing and incentives for large scale business growth and attraction opportunities for communities within Cuyahoga County.
Microenterprise Loan Fund Program (MLFP)
Provides microloans ranging from $10,000 to $100,000 to qualified small businesses that can be helped with modest loans and can attain traditional financing within three to five years.
STATE OF OHIO
JobsOhio
Provides job creation and new capital investment in Ohio through business attraction, retention and expansion efforts.
Ohio Development Services Agency
Provides job creation and building strong communities, while ensuring accountability and transparency of taxpayer money.