Medina County Information
Workforce Development
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Medina County Funding
There are various funding options for businesses here in Medina County. Please review the below PDF for more information on our Off-Balance Sheet Financing and Leasing Program; our Revenue Bond Fund Program; and the State of Ohio's Community Development Block Grant.
For additional information on any of these funding programs, please contact Medina County Economic Development Corporation at 330.722.9215.
- Medina County Port Authority The Medina County Port Authority (MCPA) endeavors to build and sustain a competitive business environment in Medina County by utilizing its unique powers to enhance economic development through marketing and innovative financing.
- Medina County Economic Development Corporation The Medina County Economic Development Corporation (MCEDC) provides professional, comprehensive assistance to a wide variety of economic development clients. MCEDC's capabilities are focused to meet the needs of clients in a confidential and time sensitive fashion.
State and Regional Funding
For companies that need gap financing to fund the purchase of fixed assets, such as land, buildings, or machinery and equipment, the Medina Economic Development Corporation (MCEDC) can facilitate funding and assistance through several partner agencies such as Ohio & Huntington Job Growth Partnership, Cascade Capital Funding and more.
For additional funding options please see the attached PDF and if you have any questions, please contact Medina County Economic Development Corporation at 330.722.9215.
- State of Ohio's Direct 166 Loan Provides loans for land and building acquisition, expansion or renovation, and equipment purchase.
- State of Ohio Enterprise Bond Fund Provides loans for land and building acquisition, construction, expansion or renovation, and equipment purchases for eligible businesses.
- State of Ohio Research & Development Investment Loan Fund Provides loans commitment to Research and Development activities.
- Ohio and Huntington Job Growth Partnership The Ohio Huntington Job Growth Partnership is a groundbreaking 3-year, $1 billion public-private lending partnership to attract, retain and grow businesses and jobs within the state.
- Cascade Capital Funding The SBA 504 program can provide up to 90% of financing for fixed asset purchases with a fixed interest rate loan. Through the Ohio 166 Regional Loan, Cascade Capital partners with the State of Ohio to provide funding for manufacturing projects up to $500,000.
State Tax Credits
State Tax Credits available are the Job Creation Tax Credit (JCTC) and the Research and Development Investment Tax Credit. Please see the attached PDF for further information or call Medina County Economic Development Corporation for further assistance. 330.722.9215
- Job Creation Tax Credit The Ohio Job Creation Tax Credit Program was established in 1993. The program provides a refundable tax credit against a company's corporate franchise or income tax based on the state income tax withheld from new, full-time employees.
- Research and Development Investment Tax Credit The R&D Investment Tax Credit is a non-refundable Ohio commercial activity tax credit for all investment in qualified research expenses incurred in Ohio by eligible "C" corporations. The amount of the credit is based on 7% of the amount of all qualified investment in a specific year. The credit can be carried forward for up to seven years.
Resources
There are various funding options for businesses located in or moving to Medina County. Resources for Companies that need gap financing to fund the purchase of fixed assets, such as land, buildings, or machinery and equipment can be faciliated by the The Medina Economic Development Corporation (MCEDC) through several partner agencies such as Ohio & Huntington Job Growth Partnership, Cascade Captial Funding and more. State Tax Credits are also available through the Job Creation Tax Credit (JCTC) and the Research and Development Investment Tax Credit.There is information on Off-Balance Sheet Financing and Leasing Program; our Revenue Bond Fund Program; and the State of Ohio's Community Development Block Grant.
For additional information on programs available, please access the PDF's and links listed below each category. If you have additional questions or need further assistance, please contact the Medina County Economic Development Corporation for assistance at 330.722.9215.