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Ohio Vacant Facilities Fund

The Ohio Vacant Facilities Fund has been allocated $2 million, allowing up to 4000 jobs to be created within existing buildings and using existing infrastructure. The program will leverage private investment and payroll within existing communities and will assist small and large businesses improve and equip business sites for job creation.

Eligible Applicants

For-profit businesses that are required to deduct and withhold income tax from an employee's compensation are eligible to apply. Applicants are not eligible if they have previously received a grant through the fund or are eligible to claim an incentive under an agreement with the Ohio Tax Credit Authority.

Potential Funding

Employers are eligible for up to $500 for each new full-time employee (40 hours per week) employed at the facility for at least one year. Employees must not have been employed by the employer within 60 days of occupation of the facility. Grant funds can be used for acquisition, construction, enlargement, improvement, or equipment of the facility occupied by the employer.

Program Requirements

Employers must occupy a building or business park that has been at least 75 percent vacant for at least 12 months and increase employment at the facility. The new employees must increase the employer's annual base payroll at the time the vacant facility is occupied. Employers must employ at least 50 employees or half of its Ohio employees at the facility.

Timeline for Application

Employers must submit a Pre-Certification Request form prior to occupying the vacant facility and increasing employment. Pre-Certification Requests will be accepted beginning November 26, 2012. The forms are accepted on an open cycle.