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Economic Development Programs
The Brownfield Redevelopment Division strategy includes creating and retaining jobs, generating new sources of revenue for local governments, schools and county programs; encouraging redevelopment of vacant abandoned properties, promoting the County Greenspace Plan
Cuyahoga County created the Business Growth Program to enhance the growth opportunities and maximize the potential of businesses and industries already in the region. The Program provides Economic Development Loans to businesses that are relocating, expanding or building new facilities and creating and retaining jobs in Cuyahoga County. Economic Development Loans are structured to leverage private investment and stimulate business expansion and growth. The County offers subordinated long-term, fixed-rate gap financing at below-market rates to businesses that generally have difficulty securing capital for growth due to collateral and equity shortfalls.
Economic Development Loan
Provides businesses financial assistance to retain and create jobs for County residents. The fund provides long term, fixed-rate financing at interest rates lower than conventional financing.
Enterprise Zone Tax Incentives
The Enterprise Zone Program provides real estate tax abatement to companies expanding or relocating to Ohio. Qualifying businesses can receive tax abatement for substantial investment in real property. The business must demonstrate job creation and retention within the zone to qualify for the local tax incentive.
Grow Cuyahoga County Fund
The Grow Cuyahoga County Fund is designed to assist eligible small business owners within Cuyahoga County obtain loans to grow their businesses and create jobs. Low interest loans of between $100,000 and $1 million are available and may also be used for retail and restaurant development projects.
Large Scale Attraction
The Large Scale Attraction Loan Program provides businesses with financial assistance to support their job creation in Cuyahoga County. The Program is available to provide gap financing and incentives for large scale growth and attraction opportunities for communities within Cuyahoga County. The Program targets businesses in select industry clusters that create at least 100, new to Cuyahoga County, full time equivalent jobs with an average annual salary at or above the County median annual wage.
Microenterprise Loan Fund
Cuyahoga County created the Microenterprise Loan Fund Program (MLFP) for the purpose of providing access to capital and technical assistance to microenterprise businesses and entrepreneurs unable to obtain traditional financing for their creative small business ventures. The program provides microloans ranging from $10,000 to $100,000 to qualified small businesses that can be helped with modest loans and can attain traditional financing within three to five years.
NCO Technology Fund
Launched in 2008, the North Coast Opportunities (NCO) Technology Fund provides low interest loans of up to $125K to help high-potential Cuyahoga County technology companies complete specific value-driving projects, create new jobs and attract additional capital.
The Return on Investment (ROI) Calculator provides a quantifiable measure of the potential Community Benefit that can be provided by redevelopment projects or new economic development projects.
Site Selection Assistance
Cuyahoga County Department of Development works hand-in-hand with local economic development organizations and the members of the Business Retention Expansion and Attraction Council (BREAC), to ensure we offer a comprehensive and competitive package for companies interested in relocating or expanding in Cuyahoga County.