Incentives and Financing
Working closely with the City of Piqua, Grow Piqua Now is committed to creating and maintaining a positive environment to foster business growth in our community. From providing timely, in-depth information about sites and buildings to permit processing, Grow Piqua Now and the City of Piqua work hard together to make the process as seamless and effortless as possible.
Grow Piqua Now will also help you identify available incentives in an effort to attract additional jobs and new investments from our new and existing businesses. These incentives can be categorized into four general categories: Tax Abatement and Tax Credits, Grants, Low-Interest Loans and Workforce Development and Training Programs. GPN partners with JobsOhio incentives to create a package that is effective for each project.
Tax Abatement and Tax Credits
Several programs available from the City of Piqua, JobsOhio, the State of Ohio and the federal government are designed to encourage business growth through tax abatements and tax credits. The more widely-used programs include the Community Reinvestment Area (CRA) tax abatement program and the State of Ohio Job Creation Tax Credit (JCTC) program.
While grant funds are typically very competitive, there are a number of grants available to businesses in the City of Piqua for job creation and new investments. These grant programs provide additional incentives for companies investing in new or expanded commercial and industrial projects. Grants typically require job creation or retention and may help with infrastructure, roadway construction or other project-related costs. The City of Piqua's Job Creation Rapid Outreach Grant can help provide grant funding to businesses providing high wage jobs in the community. The state offers multiple grants such as the JobsOhio Economic Development Grant, the JobsOhio Research & Development Grant, the JobsOhio Workforce Grant, and a grant offered through Roadwork Development (629).
Low-interest loans are another resource for economic development projects of all sizes. These resources include those provided by the City of Piqua, the Ohio Department of Development and the Small Business Administration. The City of Piqua offers two revolving loan fund programs for businesses locating or expanding in the community - the Microenterprise Development Revolving Loan Fund and the USDA Rapid Outreach Revolving Loan Fund. Other widely used programs include the SBA 504 Loan Program and the State of Ohio 166 Loan Program. In addition, the state of Ohio offers loans through the JobsOhio Growth Fund Loan, the Research and Development Investment Loan Fund, the Ohio Enterprise Bond Fund, the Innovation Ohio Loan Fund, and both loans and grants through the JobsOhio Revitalization Program.
Workforce Development and Training
There are a number of organizations and resources dedicated to helping businesses find and train the right employees. This includes pre-employment testing, skills assessments and customized training programs. The Miami County Job Center assists companies in job vacancy postings, employee recruitment, pre-screening, skill assessment and skills matching. Additionally, with access to the training resources at the Upper Valley Career Center and Edison Community College, businesses looking to grow in Piqua are sure to find the right training resources.