Office of Strategic Business Investments
Business Services Division
The Ohio Vacant Facilities Fund provides a financial incentive to businesses that create jobs in vacant buildings and business parks. The program has been allocated $2 million, paving the way for up to 4,000 jobs to be created within existing buildings and using existing infrastructure.
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.
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.
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.
The Ohio Development Services Agency is no longer accepting Pre-Certification Requests for the Ohio Vacant Facilities Fund. All employers with an approved Pre-Certification Requests may submit a Grant Application after achieving occupancy at the Vacant Commercial Space, increasing employment, and meeting all requirements of the Pre-Certification approval letter by August 6, 2015.