Economic Incentivesinsights.cincinnati-oh.gov | Last Updated 30 Nov 2018
The Department of Community and Economic Development (DCED) provides and leverages funding and other resources that support quality housing, neighborhood revitalization and human services in the City of Cincinnati. DCED provides tax incentives to help businesses and residents grow and thrive. DCED has five commercial programs featured in the dashboard. 1) The Commercial Community Reinvestment Area (CRA) tax abatement program gives incentives to companies and developers building or renovating a residential, commercial, industrial, or mixed-use facility in cases where the new or renovated facilities will result in job creation. CRAs are offered to multifamily properties of three or more units, commercial properties, or industrial properties. 2) Job Creation Tax Credits (JCTC) and Property Investment Reimbursements (PIR) are income tax incentives provided to a company that commits to expand or relocate into the City of Cincinnati. 3) Loans and grants are offered to developers that need to bridge a gap in financing a development project or to meet pre-development requirements of other incentives. 4) The City of Cincinnati sells City owned property to developer below market rate. 5) Tax Increment Financing (TIF) can be applied to a geographic area or specific project to offset a portion of large-scale development costs to the developer. The Wage Theft Protected displays all projects that are covered by the City of Cincinnati's Wage Enforcement ordinance that ensures that any development incentivized through a Community Reinvestment Area tax abatement, job creation tax credits, commercial loan, conveyance of land for less than fair market value, tax increment financing, or grants valued at or above $25,000 comply with local, state and federal wage and payroll laws.