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City of Lancaster
-> Departments
-> Economic Development ->
Business Incentives
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Enterprise Zone (EZ)
The Fairfield County EZ provides tax abatement for
real and tangible personal property for up to 10
years. The maximum level of abatement in the City of
Lancaster under this program is 75%. The E Z tax
exemption is negotiated with a team of local
representatives which makes its recommendation to
the Fairfield County Commissioners for approval. The
EZ program is especially attractive to companies and
projects that are making substantial investments in
tangible personal property including machinery and
equipment. EZ is available at both Rockmill and
Quarry Commerce Center. |
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Community
Reinvestment Area (CRA) provides
tax abatement for improvements to real property. The
City of Lancaster presently has a CRA in place at
Rockmill Phase I and has the ability to extend it to
new areas as the park grows. This tax abatement
program provides 100% tax exemption for up to 12
years for new building facilities and other
improvements to property. The abatement program is
especially attractive to industrial and commercial
developers who can utilize the tax break as an
inducement with potential end-users. The program is
administered locally by the City of Lancaster. |
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Foreign Trade Zone (FTZ)
is a federal program which provides tax benefits
for certain operations. The Rockmill Industrial Park
contains 44 acres of FTZ property in which stored
merchandise is considered to be in international
commerce and not in the U.S. for Customs purposes.
The FTZ also provides exemption from the Ohio
inventory tax portion of the tangible personal
property tax. Location in the FTZ area of Rockmill
can greatly reduce property taxes for companies with
sizeable inventories. |
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Other Business Assistance
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Fairfield County Job &
Family Services offers a wide
variety of resources for employers at no cost. The
job development team works with employers to
determine what their current and future needs are
for their workforce and to assist in meeting those
needs. Resources include free web-based job
postings, the opportunity to review resumes of
potential employees on-line, a professional
recruiting and interviewing facility, and job fairs.
The FCJFS staff has proven success assisting a wide
range of employers. |
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Fairfield County
Revolving Loan Fund offers low
interest loans to companies with no more than 200
employees. The maximum loan amount is $60,000 and
can be used for new construction, purchase of real
estate, machinery & equipment, and a portion of
working capital needs. Terms are based on asset life
with a maximum of 15 years for land and buildings.
Interest rates can be up to 4 points below prime. |
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Tax Increment Financing
(TIF) permits service payments in
lieu of real property taxes to be used for the
finance of public infrastructure improvements
connected to a development project and declared to
have a public purpose. Up to 75% of real property
taxes can be exempted for up to 20 years to cover
the costs of road, water, sewer, and other public
improvement. The City of Lancaster has the ability
to approve the establishment of a TIF district for
the affected property(ies) and thus creating an
income stream for the repayment of important
development infrastructure costs. |
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Infrastructure Grants
are available to a local political subdivision
such as the City of Lancaster on a case-by-case
basis from the Ohio Department of Development. These
grant programs are targeted toward road
improvements, utility extensions, and other
infrastructure needs which are instrumental in
making a project go forward. ODOD considers the job
creation and investment level when determining grant
amounts. The City of Lancaster must apply for the
assistance on behalf of the project. |
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Other State Programs
depending on the type and size of project, the
State of Ohio has a wide range of programs to assist
companies creating employment and investment. These
programs include business income tax credits, cost
reimbursement and tax credits for employee training,
and tax break for new equipment and warehouse
inventory. The City will actively pursue these
options for eligible projects. |
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