The City of Sharonville is committed to the development of private enterprises within our corporation limits. We realize that economic development is an important function that promotes and sustains Sharonville as a whole. The Department of Economic Development administers several programs to assist, retain, and expand current businesses and attract new industry to the city. We base our incentive offerings from data such as annual payroll figures, employee numbers, project investment, and growth projections. Furthermore, the State of Ohio has incentive programs in addition to a variety of funding programs administered by the U.S. Small Business Administration.
Community Reinvestment Area
The Community Reinvestment Area (CRA) provides property owners a tax exemption for investing in property improvements.
The goal of the CRA is to incentivize revitalization where barriers to investment exist. The exemption is applicable on new construction, expansion projects, and substantial building improvements on both commercial and industrial buildings. The final building exemption value is determined by the Hamilton County Auditor. Applications for the Community Reinvestment Area program can be found here: Community Reinvestment Area Application
Job Creation Incentive Grant
This grant is available to current businesses and new businesses who intend to create more than 15 new jobs in Sharonville with a minimum payroll of $1,000,000 dollars within three years. Applications for the Job Creation Incentive Grant can be found here: Job Creation Incentive Grant Application.
Small Business Improvement Grant
As part of the City of Sharonville’s commitment to support the unique needs of small business, the City has adopted a financial incentive program for owners/tenants of small businesses located in Sharonville. The goal of the program is to spearhead the rehabilitation and enhancement of our small businesses, to promote economic growth and investment, and to enhance Sharonville’s desirability and long-term viability. Please note, that this program is for employers with 30 employees or less. Applications for the Small Business improvement Grant can be found here: Small Business Improvement Grant Application.
Tax Increment Finance Districts
Tax Increment Financing (TIF) is an economic development mechanism available to local governments in Ohio to finance public infrastructure improvements. A TIF works by locking in the taxable worth of real property at the value it holds at the time the authorizing legislation was approved.
Payments derived from the increased assessed value of any improvement to real property beyond that amount are directed towards a separate fund to finance the construction of public infrastructure defined within the TIF legislation. Sharonville has enacted legislation to utilize TIF financing and often works with potential development to allow parcels to benefit from TIF financing. The City of Sharonville has three TIF Districts, the Northern Lights TIF, the Downtown Sharonville TIF, and the Gateway TIF.
If you are considering the City of Sharonville as a place to relocate or expand your current business, please contact our Economic Development Director David McCandless at 513-588-3918 or email@example.com before you begin your project. At a subsequent business meeting, information on the project will be obtained, including new payroll and investment numbers.
Thank you for considering the City of Sharonville to open, expand, or enhance your business. We look forward to serving you!