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Economic Development

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 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