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Ohio New Markets Tax Credit Program

Ohio New Markets Tax
Credit Projects 2011 to 2013The Ohio New Markets Tax Credit Program helps to finance business investments in low-income communities by providing investors with state tax credits in exchange for delivering below-market-rate investment options to Ohio businesses. Investors receive a 39% tax credit spread over seven years if they make an investment in a qualified low-income community business.

Community Development Entities (CDEs) apply to the program for allocation authority, and work with investors to make qualified low-income community investments. The program helps to spark revitalization in Ohio's communities with this attractive tax credit.

Information on the program, including application materials, reporting needs, and a map and listing of funded projects to date can be found to the left under Program Information.

If you would like to be added to the email list for the Ohio New Markets Tax Credit program, please send your name and contact information to ohionewmarkets@development.ohio.gov.

Round 5 Awards Announced

Congratulations to the four Community Development Entities that received awards for Round 5 of the Ohio New Markets Tax Credit Program!

  • Stonehenge Community Development, LLC will receive $1 million in tax credit allocation authority for a $2.5 million project investment. Stonehenge has received eight allocations from the Federal New Markets Tax Credit program, totaling $600,500,000. They have identified two potential projects for their Ohio investment.
  • Finance Fund will receive $1 million in tax credit allocation authority for a $2.5 million project investment. Finance Fund has received eight allocations from the Federal New Markets Tax Credit program, totaling $240,000,000. They have identified two potential projects for their Ohio investment.
  • Waveland Community Development, LLC will receive $1 million in tax credit allocation authority for a $2.5 million project investment.  Waveland Community Development, LLC has received six allocations from the Federal New Markets Tax Credit program, totaling $422,000,000. They have identified one potential project for their Ohio investment.
  • BizCapital BIDCO I, LLC, a subsidiary of Advantage Capital Partners, will receive $5 million in tax credit allocation authority for $12.8 million in project investments.  BizCapital BIDCO I, LLC has received ten allocations from the Federal New Markets Tax Credit program, totaling $659,000,000. They have identified 16 potential projects for their Ohio investments.