Choosing New Bremen gives your company the advantage of Ohio's numerous incentives.
Ohio and its local communities act in full partnership with our corporate citizens to better help our companies succeed. State and local tax incentives, grants, and low-interest financing offer businesses the opportunity to reduce risk while encouraging investment in communities like New Bremen. The village of New Bremen is fully equipped to help your company take advantage of state and local incentives which will add to your company's bottom line.
Local Incentives and Resources
New Bremen can connect you to the programs and resources you need to ensure business success.
Community Reinvestment Area Program (CRA) Program
A CRA is an area of land in which property owners can receive tax incentives for investing in real property improvements. The CRA Program is a direct incentive tax exemption program benefiting property owners who renovate existing or construct new buildings. Program benefits are available for residential, commercial and industrial properties.
Enterprise Zone Tax Abatement Program
This program provides an opportunity for variable tax abatements on local real property taxes. Abatements are negotiated in local communities.
Toledo-Lucas County Port Authority
New Bremen is a participating community in the Toledo-Lucas County Port Authority. The Port Authority has developed a national reputation for innovative business financing including fixed interest rate revenue bonds, off-balance sheet transactions, infrastructure financing, and conduit revenue bonds. The Port Authority has been involved in 225 economic development projects representing an investment of $1.3 Billion and the creation and retention of more than 13,000 jobs.
Ohio Job Creation Tax Credit
A refundable tax credit taken against a company's Commercial Activities Tax (CAT). The credit is awarded in a rate and a term based on the income tax withholdings of new employees. Rates typically range between 35-45% with terms ranging from 5-7 years. Should the amount of the credit be greater than the company's Commercial Activities Tax in any given year, the amount of the difference will be refunded.
Rapid Outreach Grant
Grant funds for project costs including the acquisition of machinery and equipment, land or building acquisition, leasehold improvements, or building construction.
Roadwork Development Grant
Grant funds available for up to 50% of project costs associated with public roadway improvements.
Regional 166 Direct Loan
The Regional 166 loan programs provides loans for land and building acquisition, construction, expansion or renovation and equipment purchases for eligible businesses. Twelve local economic development agencies administer this program. Our local agency is West Central Development Corporation.