The City of Broadview Heights realizes how important retaining and growing our business base is to our community. We work with current and prospective businesses by guiding them through the cities permitting process and helping them seek additional financing through grants, incentives,
and traditional means that will give them the capacity to grow and prosper.
Broadview Heights offers an Economic Development Incentive Grant to qualified companies for job creation and income tax generation. Income Tax Grant
Broadview Heights also offers a Community Reinvestment Area (CRA) offering property tax abatements for new construction and job creation. Incentives are offered on a case-by-case basis to companies for job creation and increased payrolls. All incentives negotiated with the Broadview Heights City Administration must be ultimately approved by City Council before taking effect.
The Economic Development Department also guides businesses through the County, State, and Federal incentive offerings. We do what it takes to gain your trust and commitment, and to help your business grow.
Community Reinvestment Area Tax Abatements
The Community Reinvestment Area Tax Abatements, or “CRA”, are used to reduce the structural taxes on new construction or significant rehabilitation of existing structures. To receive structural tax abatement, the structure must be in our designated CRA area. The structure must be constructed or improved for commercial, office, or industrial uses and a significant employment
increase must result from the investment. The project will also be judged on other factors such as its appropriateness for Broadview Heights, the company’s historical performance, and potential for long-term viability in the community.
Economic Development Incentive Grant Program
Companies locating in existing buildings where no tax abatement is available may be eligible to receive an incentive based on the payroll taxes its employees pay to the City. The City could structure an incentive by which the company would receive at the end of each year a percentage of income taxes generated, for a definite number of years. The incentive is based on actual payroll
taxes and is not tied to estimates.
Ohio Department Of Development
In addition to providing financially based incentives, the Economic Development Department of the City acts as a conduit to programs and officials at the Ohio Department of Development (ODOD). The City’s Economic Development Director will work with your company to obtain incentives from the State of Ohio and arrange meetings with ODOD personnel.
Cuyahoga County Department of Development
Similar to the State DOD, the County offers a variety of programs that may fit your businesses needs. The Broadview Heights Economic Development Department will assist in your search for funding and the qualification process. We will also make the introductions to the relevant County Development officials.
For more information about these incentive programs, or other ways in which the City of Broadview Heights can assist with your relocation or expansion in our community, please contact the Economic Development Department at (440) 526-6259