The City of Sidney is a low-cost community in which to live and operate a business. Per a survey of area local governments that included real estate tax, local school taxes, city income tax and water/sewer rates, Sidney was the lowest cost community of all 34 cities surveyed. The City offers many incentives for businesses wishing to expand or locate in Sidney, such as:
- Assistance to Homeowners - The City offers assistance to low and moderate income homeowners to assist with housing rehabilitation and repairs through the Community Housing Impact & Preservation grant and the Paint the Town Program.
- City Income Tax Abatement when necessary to match State of Ohio incentives
- Community Reinvestment Area (CRA) - Real property tax abatement program for residential, commercial and industrial projects that take place within a CRA zone.
- Downtown Rehab Program - Up to a $30,000 matching forgivable loan for downtown property owners making facade improvements or alleviating interior code violations in the nine block downtown area.
- Enterprise Zone - Real and personal property tax abatement program for manufacturing, warehousing and R & D facilities that agree to retain or create employment and establish, expand, renovate or occupy a facility.
- Revolving Loan Fund - provides gap financing for local business development. The goal of the program is to create and retain permanent, private-sector job opportunities, principally for low- and moderate-income persons, through the expansion and retention of business and industry in Ohio communities
- Site Plan Approval - Site plan approval is required for any new construction, addition, or development on any property (except one- and two-family dwellings) as well as any change in use for commercial and industrial uses.
- Tax Increment Financing (TIF)
The city works closely with the Sidney-Shelby Economic Partnership and JobsOhio on economic development opportunities.
JobsOhio recently launched a new program to provide financial support in the form of a grant up to $50,000 for eligible projects in designated distressed communities and/or for businesses owned by underrepresented populations across the state. The program is called the JobsOhio Inclusion Grant. Currently, Shelby County does not have any communities that are designated as “distressed”, but some companies could qualify if owned by an underrepresented population such as minorities, women-owned, veteran-owned and disability-owned businesses.
To be eligible, the company must be a small- to medium-sized, engaged in manufacturing, distribution or technology operations.
More information is available here: https://www.jobsohio.com/inclusion-grant/
Sidney-Shelby Economic Partnership Executive Director, Jim Hill, can be reached via phone, 937-498-9554 or e-mail: email@example.com for assistance or information.