Essentials - Incentives
 
 
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Our Economic Development Team has a number of community, state and federal incentives to work with in order to encourage retention and additional new investment in the area. Below is a general list of the major programs. Please contact our office to set up an appointment to determine which may be the best fit for you and your project.

TAX ABATEMENTS
The City of Norwalk is approved as an Enterprise Zone, which permits Real Estate Tax Abatements of up to 100% for up to 10 years for qualified economic development projects.

COMMUNITY REINVESTMENT AREA
Improvements resulting in real property tax increases may be eligible for tax exemptions within our designated Community Reinvestment Area.

FAÇADE GRANT PROGRAM
If you have a business in the Uptown Norwalk Historic District, you may qualify to apply for a Façade grant to improve the exterior of your building. This program requires a 50% match. For program guidelines, contact our office at 419-668-9858. To see the Requirements and Application, click here. Click Eligibility Map to view the service area.

NORWALK AREA MINI FACADE GRANT PROGRAM

The new Mini-Facade Grant program offers up to a $1,500 grant match for approved facade improvements. All grant funds must be applied for and approved before work is done. This program only has a three-page application, click here. A program check list is also available, click here or contact the NEDC office at 419-663-2030.

FINANCING
Options include the City of Norwalk Revolving Loan Fund, Bond Financing, and access to all State of Ohio and federal financing incentives. There are also other unique resources we can connect you with – from assistance getting owner financing when purchasing a building to utilizing the resources of the Norwalk Community Development Corporation.

CITY OF NORWALK REVOLVING LOAN FUND
The City’s RLF program is designed to provide gap financing for expanding companies that plan to create jobs, particularly for low to moderate income households. Up to 50% of the eligible fixed asset costs can be funded through this low-interest loan. The loan can help companies acquire real estate, construct or renovate buildings, and purchase machinery and equipment.

Applicants can download the Norwalk RLF Guidelines and the Application or call the Norwalk Economic Development Corporation at 419-668-9858 for more information.

166 DIRECT LOAN
This Ohio Department of Development loan is available to help finance fixed asset investments (acquire land and building, new construction, renovate existing building, acquire machinery and equipment) at 30% of total eligible fixed costs to a maximum of $1 million (minimum $350,000). The rate is currently set at two-thirds of prime and at least 10 percent equity is required from the borrower. Assistance from this program requires approval by the Development Financing Advisory Council (DFAC) and the State Controlling Board.

TAX CREDITS
Job Creation, R & D and Training Tax Credits are just a few of the tax credit programs available from the Ohio Development Services Agency . For more information on the State’s site, click here.

For the City of Norwalk Job Creation Tax Grant Guidelines click here.

For information on the Ohio Motion Picture Tax Credit or filming in Ohio, go to the Ohio Film Office.

OHIO ENTERPRISE BOND FUND
Tax exempt and taxable bond financing is available through the Ohio Enterprise Bond Fund which can finance up to 90% of the project costs (acquire land and building, new construction, renovate existing building, acquire new and used machinery and equipment) to a maximum of $10 million (minimum of $2 million) at a fixed rate for up to 20 years.

ADDITIONAL STATE FINANCING PROGRAMS
If you would like more information on the following State programs, go to our FINANCING page

  • Innovation Ohio Loan Fund Program, Research & Development Investment Loan Fund Program, Minority Business Direct Loan Program, Minority Business Bonding Program, Ohio Capital Access Program, Rural Industrial Park Loan

TRAINING GRANTS & WORKFORCE SUPPORT
The Ohio Department of Development also has dollars to support training programs at companies. Most of their opportunities provide 50 percent reimbursement to companies to fund instructional costs, materials and training-related activities. There is an emphasis on manufacturing and selected employment sectors. We are happy to put you in contact with the correct state representative that manages the program you need. Please contact our office for more information at 419-668-9858.

Job Screening Services, Hiring Assistance, Employee Training & Resources for Dislocated Workers
Through our local Huron County Workforce Response Team partners and the Workforce Development Coordinator’s office at Huron County Job and Family Services, businesses can access funding for customized employee training, job screening services, hiring assistance, and resources for down-sized employees.

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