Your Business and the City of Fairborn: Opportunities for Success

     Economic diversity and being the home of two key governmental institutions have been instrumental in fueling business growth within the City of Fairborn.  Our community is home to Wright State University (WSU) and the gateway to Wright-Patterson Air Force Base (WPAFB), two of the largest employers in the Miami Valley region. 

    Take advantage of the City’s proximity to these important regional institutions and the City’s economic development staff and resources to create your business or grow your existing business within the City.

     The general information, web site links and points of contact provided on the following web pages are a great starting point – please feel free to contact the Community Development Department at 937.754.3056 for additional information.

Are financial PROGRAMS available to assist my company with its growth needs?

The Community Development Department has a variety of programs to help your business to grow. The type of assistance available will depend on the nature of each individual project, but can include tax abatements and low-interest loans, as well as grants. To find out which programs will work best for you, we will need to know what you are planning to do (i.e. add 10,000 square feet to your existing facility), the total cost of your project, and what financial resources you have been identified. The following is an overview of the various government programs which may be available to help start or grow your company. Please call 937-754-3056 for more information.

CITY OF FAIRBORN

Tax Increment Financing (TIF)

Tax Increment Financing (TIF) is an economic development program available through the City of Fairborn to finance public infrastructure improvements.

Community Reinvestment Area (CRA)

Community Reinvestment Areas (CRA) are areas of land in which property owners can receive tax incentives for investing in improvements to real property. The CRA program is a direct incentive, tax-exemption program benefiting property owners who renovate existing or construct new facilities. Currently there are two active CRA districts within the City.

Enterprise Zones (EZ)

An Enterprise Zone (EZ) is a specified area within the City where special tax incentives may be offered, by contract, to businesses that agree to invest in capital improvements and create and/or retain jobs in that area. The EZ incentives, which are subject to the approval of the Greene County Commissioners, take the form of real and/or personal property tax exemptions on eligible project assets.

STATE OF OHIO

Job Creation Tax Credit

Allows companies creating new jobs in Ohio to apply for state income or corporate franchise tax credits. The credit is measured as a percentage of state income tax revenue withheld by business for employees hired to fill the new jobs.

Mfg. Machinery/Equipment Investment Tax Credit

Allows a nonrefundable corporate franchise tax or state income tax credit for a company that purchases new manufacturing machinery and equipment that is installed in Ohio. The credit is divided equally over seven years with a carry over of unused credits possible.

Job Retention Tax Credit

Provides corporate franchise or state income tax credit for businesses that commit to retain a significant number of full-time jobs.

Export Tax Credit

Allows companies to receive a tax credit up to 10% of their pre-tax profits to a maximum of $250,000 on the portion of the profits due to an increase in exports.

Ohio Qualified Small-Issue Bond Fund

Provides low-interest financing for small manufacturing facilities locating or expanding in Ohio that have or can obtain allocations of volume cap. Awarded pursuant to Sections 122-4-01 to 122-4-08, OAC.

Enterprise Bond Fund

Finances up to 90% of fixed asset costs ($10 million maximum) at a fixed rate for up to 20 year terms for manufacturing or commercial projects.

Commercial Activity Tax (CAT)

The CAT is an annual privilege tax measured by gross receipts on business activities in this state. This tax applies to all types of businesses: e.g. retailers, service providers (such as lawyers, accountants, and doctors), manufacturers, and other types of businesses. A person with taxable gross receipts of more than $150,000 per calendar year is subject to this tax, which requires such person to register with the Ohio Department of Taxation as a taxpayer. Additional information on CAT may be found online at http://tax.ohio.gov.

Research and Development Tax Credit

Provides an exemption from the usual state and county sales tax for companies that purchase equipment for research and development activities.

Training Tax Credit

Provides tax credits for employers that train existing employees who are at risk of losing their jobs primarily due to skill deficiencies.

166 Direct Loan

Provides up to $1 million, (up to 30% of fixed asset costs or $15,000 per job, whichever is less), at 5% fixed rate for a 5-15 year term.

Technology Investment Tax Credit

Offers a variety of benefits to Ohio taxpayers who invest in small, research and development and technology-oriented firms.

Business Development (412) Account

Funds are for on or off-site infrastructure improvements, including water, sewer, road and rail work improvements. This fund is for companies primarily engaged in manufacturing, R&D, high technology, corporate headquarters, and distribution.

Sales and Inventory Tax Exemptions

State and local sales taxes are exempted on certain types of purchases, including machinery and equipment used in the manufacturing process; material handling equipment used in the warehousing of inventory that is primarily (51 percent or greater) distributed to retail operations associated with the warehouse operator; and equipment used for R&D purposes.

Additional information about these programs is available on the State of Ohio website at: www.odod.state.oh.us/EconomicDevelopment.htm

How do I find resources to help expand my facility?

As a Business First! Program Partner, the Community Development Department has easy access to the network of organizations in the Miami Valley region focused on numerous forms of development assistance. Through this network, we can provide you with various resources to help simplify all aspects of your company's expansion from workforce issues to building permits. Additionally, we stay current on all incentive programs offered at the federal, state, county, and city level. The Financial Programs Section of this website offers a sample of the incentive programs we work with. Contact us today for assistance in your company's expansion at 937.754.3056.

I'm starting a business, what do I need to know?

Consider attending one of many SCORE small business seminars hosted in the area throughout the year. Seminars are on topics such as starting a business, business planning, and marketing for small businesses. Check online at www.daytonscore.org for counseling and workshop schedules and locations.

 In addition, the Small Business Development Centers of Ohio (SBDC of Ohio) provide free, professional, in-depth and confidential business consulting and training to new and existing entrepreneurs through its network of 38 centers (including international trade, technology and manufacturing) throughout the state. Information about Wright State University’s SBDC may be found online at http://www.sbdcwsu.org.

Where can I find local demographics and statistics for the CITY OF Fairborn and GREENE County?

The U.S. Census Bureau provides Demographic Profile Fact Sheets for Fairborn (imbed link) and Greene County (imbed link). For general demographic information about specific areas, use the Census Bureau's American FactFinder.. Just type a ZIP Code in the search box and click 'Go.'

What is the City's business tax rate?

The City of Fairborn has a 1.5% income tax on net business profits that are paid to the City. There are no other business taxes imposed by the City.

 The City of Fairborn uses the Regional Income Tax Agency (RITA) for income tax collection. Forms and Instructions are available on their website www.ritaohio.com. Additionally, RITA accepts online filing of current year tax returns, and online payment of tax liability. You must register prior to filing at the same web site.

Do you have information on buildings available for sale or lease?

The Community Development Department can provide direct information or personal contacts for properties that are for sale or lease within the Fairborn City limits. We can help you find both unimproved land and vacant commercial and industrial buildings within the City. If you are looking for a new location for your business or if you would like to market your property, please call 937.754.3056 for more information.

Who owns a particular building or lot?

The Greene County Auditor's Office web site – www.co.greene.oh.us/website/gis/parcels//index.htm can show you who owns a particular property. Using this Property Search page you can search for properties based on a variety of criteria and view pertinent real estate data on a specific parcel of land. Search criteria include Owner Name, Address, Parcel ID and Sales information.  You may also call of the Greene County Auditor's Office at 937.562.5065 to request the information.