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City of Toledo
Department of Economic Development

Toledo Expansion Incentive Program
Deadline  12/31/2030
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PROGRAM DESCRIPTION  [hide this]

The Toledo Expansion Incentive program provides a monetary, performance-based grant to attract and retain businesses in the City of Toledo. The grant is based on the actual growth in annual municipal income tax that is generated from eligible new employees and payroll associated with the company’s project. The primary goals of the program are to attract and retain companies in target industries and increase the number of high paying jobs for Toledoans.


ELIGIBILITY  [hide this]

Eligibile Applicants

Eligible applicants meet the following criteria:

  • Applicant is a business entity currently located in or considering locating in the City of Toledo that will create at least 10 fulltime W-2 jobs within 3 years of the effective date of the Toledo Expansion Incentive Grant Agreement.
  • Applicant complies with the City's Living Wage requirements.
  • Applicant is in good standing with governmental entities (i.e. current on income tax, property tax, utilities, code violations, fees)

 

Eligible New Employees

Eligible new employees:

  • Are hired or are relocated to the City of Toledo after the effective date of the Toledo Expansion Incentive Grant Agreement.
  • Do not work more than 20 days at a location that is not the Project Site.
  • Are paid a Living Wage.

 

Expected Revenue Benchmarks

The annual grant award is based on the growth of an applicant’s municipal income taxes actually received and retained by the City during the previous calendar year above the expected revenue benchmarks set forth in the Toledo Expansion Incentive Grant Agreement.

Expected revenue benchmarks are based on an average of the company’s most recent three years of municipal income taxes paid and retained by the City of Toledo. Expected revenue benchmarks will be set forth in the Toledo Expansion Incentive Grant Agreement and will not change based on higher municipal income taxes received by the City during the term of the incentive.

Expected Revenue Benchmarks for companies newly locating within the City of Toledo will be zero dollars ($0) for each year during the term of the Agreement.


APPLICATION PROCESS  [hide this]

1. Application Submission

Applicants submit application and supporting documentation to the Department of Economic Development using ZoomGrants. Failure to submit a complete application and required documentation will delay the review and approval process.

Required documentation includes:

  • W-9
  • Tax Registration Form
  • Vendor Registration Form
  • Affidavit by which the applicant permits the City of Toledo to access the applicant’s income tax records under the control of the City’s Taxation Division for purposes of verifying the applicant’s yearly gross payroll and income tax payments made to and retained by the City.

 

2. Application Review

The Department of Economic Development will review the application and supporting documentation to determine eligibility.

 

3. Application Approval

The application will be presented to the City’s Incentive Advisory Committee (IAC) for review. The IAC consists of independent citizens that provide oversight of the City’s incentive programs. The IAC will provide a formal recommendation to the Mayor on how to proceed with the application.

 

4. Toledo Expansion Incentive Grant Agreement

If the application is approved, the City will enter into a Toledo Expansion Incentive Grant Agreement with the applicant to establish the terms and conditions for the incentive. Any jobs created prior to execution of the Toledo Expansion Incentive Grant Agreement are not considered an eligible new employee.

 

5. Annual Reports

Applicants will be required to submit an annual report to the Department of Economic Development for the entire term and compliance period of the incentive.

 

Questions?

Please email your questions to Steven Powell at Steven.Powell@toledo.oh.gov.



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