Minimizing Costs and Time and Maximizing Return on Investment
We understand that businesses are looking for every advantage when it comes to minimizing start up costs and operating expenses. That's why Canal Winchester offers comprehensive and competitive incentive packages, coordinating our efforts with the state of Ohio to ensure the businesses that invest in Canal Pointe take advantage of every opportunity to improve their return on investment. Canal Winchester will work closely with you to achieve your goals of getting up and running quickly while minimizing the financial burden of locating in Canal Pointe. We will carefully craft an incentive package that makes sense, with powerful incentives designed to your specifications.
These are some of the incentives available to businesses that locate in the Canal Pointe Industry and Commerce Park:
Community Reinvestment Area (CRA) Tax Abatements - this program allows for real property tax abatements on the value of improvements made to the site. Canal Pointe is eligible for 100%, 15 year abatement for the construction of new buildings which provide a great value to the firms that locate there.
Job Creation Tax Credits - Canal Winchester offers a program where a portion of employees 2% payroll withholding tax is credited back to the employer in the form of a cash grant. The value of this incentive can keep growing with you business as you add additional employees. Email the Development Director to determine if this incentive makes sense for your company.
Foreign Trade Zone (FTZ) - Canal Winchester can offer FTZ incentives to properties located within Canal Pointe. The FTZ is offered through the Federal Government and is part of FTZ Number 138 located at Rickenbacker International Airport. This incentive must be coordinated with the Columbus Regional Airport Authority, and can offer significant cost savings for companies that import goods.
Tax Increment Financing (TIF) District - Portions of Canal Pointe lie within a Tax Increment Financing District. This allows portions of the property taxes paid to be diverted and used by the City to make infrastructure improvements to benefit the rest of the district. These funds can be used to meet special infrastructure needs of your business.
The City can also assist in connecting your company to many state incentive programs offered by our development partners JobsOhio.