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Economic Development

We are not a typical government lender. Our top-quality, highly trained staff can move completed applications to loan committee in less than 30 days. This, combined with our expert legal counsel with a background in real estate and environmental law, and the County’s streamlined legislative process has led to our economic development motto:

"We Beat the Banks to Closing"

Programs

EDA Funding

EDA was established under the Public Works and Economic Development Act of 1965, to generate jobs, help retain existing jobs, and stimulate industrial and commercial growth in economically distressed areas of the United States. EDA funding assistance is available to rural and urban areas experiencing high unemployment, low income, or other severe economic distress.

Economic Development Fund

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.

Economic Development Assistance Handbook  (update coming soon)

Want to know more about the programs available to assist businesses in Cuyahoga County? See the new Economic Development Assistance Handbook. The handbook includes information about Economice Development incentives from Cuyahoga County, the City of Cleveland, The State of Ohio and many other regional organizations.

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

M.A.D.E. in Cuyahoga County Program

Offers special financial assistance incentives specifically targeted at manufacturing industries that are relocating, expanding, upgrading or building new.

New Product Development & Entrepreneurship Loan Fund

Got a great idea for a new product? Entrepreneurs and companies under $50 million are now eligible for the Cuyahoga County New Product Development and Entrepreneurship Program. The Product Innovation Loan Fund, developed by the Cuyahoga County Department of Development and administered by MAGNET, Inc., will provide $1 million in total funds for new product development.

Initiatives

Site Selection Program

Cuyahoga County offers many amenities that make it a great place to live and work. By locating your business in the County, you will be able to take advantage of the convenient location, strong infrastructure, affordable housing, advanced workforce training, excellent universities, world-renowned arts, outstanding recreation and green space, major league sports, and the many other features contributing to the high quality of life in Cuyahoga County.