The Research and Development Investment Loan is an economic development incentive for large attraction or expansion projects, designed to create high-wage jobs in targeted industries.
The Research and Development Investment Loan (R&D Loan) provides low-interest loans partnered with a tax credit to Ohio businesses that create research and development capabilities and high-wage jobs. Businesses meeting the program requirements (i.e. job commitments, loan repayments, etc.) are also eligible for a loan repayment tax credit against their Ohio Commercial Activity Tax liability.
Eligible projects include those where research and development are undertaken to discover information that is technological in nature and the application is useful in the commercialization of a new or improved product, process, technique, formula or invention.
JobsOhio and the JobsOhio Network, the state's economic development organization, are responsible for the marketing, initial company contact, and company application process through loan approval. Companies interested in finding out more about the program or discussing a potential project that may qualify for the Research and Development Program should click here to be directed to JobsOhio' s webpage.
The approved loans are managed by the Ohio Development Services Agency. Responsibilities include: involvement in the loan closing process, drafting loan agreement amendments, disbursement of funds, collection of repayments, upholding the terms and conditions of the loan agreement, reviewing annual jobs reports and providing technical support to existing borrowers.
Existing Research and Development Investment Loan Support Inquiries: Keena Ridley, (614) 466-4273
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