Quick Reference  |  Summary

Research and Development Investment Loan Servicing

Purpose

The Research and Development Investment Loan (R&D Loan) promotes economic development and business expansion by providing assistance to Ohio businesses for research and development projects in the State of Ohio.

Program

The R&D Loan Program 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.

For Whom

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.

Program Contact

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. Its responsibilities include involvement in the loan closing process, disbursement of funds, collection of repayments, upholding the terms and conditions of the loan agreement, reviewing annual job reports, drafting loan agreement amendments, and providing technical support to existing borrowers.

Existing Research and Development Investment Loan Support Inquiries: Financial Incentives, (614) 387-2117 or financialincentives@development.ohio.gov

How Much

The R&D Loan program may finance a minimum of $500,000 up to 75 percent of total allowable project costs.