ECONOMIC DEVELOPMENT DIVISION
Economic Development Division is responsible for business retention efforts, tax incentive programs, and promotion of the City to businesses and industry. This Division currently operates under the supervision of the Director, Mr. Larry Finch.

BUSINESS RETENTION EFFORTS
Twinsburg participates in the Summit Business Partnership program with Summit County. This program uses site visits with local companies to learn of the issues and challenges facing them and provides an opportunity for economic development staff and the City, County and State level to cooperate on efforts to assist companies where possible. To schedule a visit at your business or industry call Mr. Finch at 330-963-6154.

TAX INCENTIVE PROGRAMS
A comprehensive set of incentive programs have been put in place to assist businesses and property owners to locate and thrive in the City of Twinsburg. Applications must be processed prior to commencing construction on project elements. Applicants should contact the Division to schedule a meeting and secure current application materials.

ENTERPRISE ZONE PROGRAM
Twinsburg operates an Enterprise Zone jointly with Summit County. This zone is community-wide, enabling any qualifying business the opportunity to obtain abatement for real and personal property tax.   To be eligible, an industry must add employment and must invest in facilities within the City.   Minimum investment for expansion of an existing facility is 10% of its value. When occupying a vacant facility a minimum 20% investment is required and when renovating an existing facility the minimum investment is 50% of its value.

 Levels of abatement benefits vary with the amount of investment and number of jobs retained or new jobs created as a result of the project.   Actual abatement levels will be negotiated with the business based on the amount invested and employment created.

Businesses relocating to Twinsburg from other Ohio municipalities are subject to various restrictions and must obtain a Waiver of Relocation Restrictions from the Ohio Department of Development before an agreement can be executed.

COMMUNITY REINVESTMENT AREA PROGRAM
The City’s Community Reinvestment Area Program enables those who invest in real property within the designated C.R.A. area to benefit from abatement of a portion of real property tax increases resulting from that investment.   While personal property tax abatements are not available through this program, real property tax abatements may be granted.

One of the most significant aspects of the C.R.A. program is that it may be applied to industrial, commercial and residential properties. A negotiated percentage of the tax increase that would have applied without the abatement may be granted for terms that go up to 15 years.

Like the Enterprise Zone Program, the amount of the abatement depends upon the investment made and the jobs created or retained.   Unlike the Enterprise Zone program, there are no restrictions affecting companies moving to Twinsburg form other Ohio communities.

TWINSBURG OCCUPANCY PROGRAM
This innovative program was implemented to encourage the use of existing industrial and commercial buildings.   Owners or leasers of properties which have been vacant, and where the owner or leaser will bring jobs to the community, may qualify for an annual grant. This grant is based on the income taxes paid by employees of the enterprise located at the site and may be for an amount equivalent to as much as 50% of the income taxes paid to the City. The grant is paid to the company at the end of the first quarter after the year in which taxes were paid.

To be eligible to participate in the T.O.P. program a company must have an existing payroll of at least $500,000 and have at least 20 full-time or equivalent employees. They must also commit to creation of at least 10 new jobs with at least $250,000 of new payroll over a three-year job creation period.

Program benefits may run for up to 10 years depending upon the amount of the company’s annual payroll. For companies that lease facilities the program is limited to a term no longer than the base lease. Companies who fail to meet their job creation goals may be required to repay all or a portion of the grant amount.

OTHER INCENTIVE PROGRAMS
A number of investment and employment tax credits are available to industries through the State of Ohio. The Ohio Department of Development also provides export assistance and workforce development assistance. These programs may be available at any location in the State. To find out more go to the Ohio Department of Development website www.odod.state.oh.us or the Office of Tax Incentives website at www.odod.state.oh.us/OTI.

The Summit County Port Authority has partnered with the City and area businesses to provide alternative financing and off-balance sheet financing for new construction or alterations, equipment purchases and other purposes. The Summit County Port Authority website may be access at  www.summitportauthority.org.