Economic Development

Our aggressive and collaborative economic development programs help companies grow and expand, and works to attract new business, industry, investment and jobs.

 

Trumbull County Planning Commission coordinates local, state, regional, and federal programs for businesses and industries expanding or locating in Trumbull County.

 

Nic Coggins, our Economic Development Coordinator, will provide all the information you need to locate and/or expand your business in Trumbull County. Contact Nic Coggins at (330) 675-2480, or pccoggin@co.trumbull.oh.us.

 

Get direct assistance with:

 

Ohio Enterprise Zone Program (EZ) provides temporary tax exemptions from the INCREASED assessed value of any improvement to new real and personal property investment (when that personal property is still taxable) when the investment is made in conjunction with a project that includes job creation. Maximum exemption may be up to sixty percent (60%) exemption for a term up to ten (10) years. Maximum exemption levels may be exceeded with approval by the affected board(s) of education. Each Enterprise Zone Agreement submitted must include a $750 application fee payable to the Ohio Development Services Agency.  In addition, each project is subject to an annual monitoring fee of one percent (1%) of the benefit received - a minimum of five hundred dollars ($500) and maximum of two thousand five hundred dollars ($2,500) payable to the local legislative authorities. Governed by Section 5709 of Ohio Revised Code.

 

Community Development Block Grant (CDBG) Economic Development (ED) Revolving Loan Fund (RLF).  Such funds are used in the event that full financing cannot be obtained from a bank, or to fill the "GAP" between a bank loan and the financing necessary to complete a proposed business project.  The RLF will work in collaboration with bank and/or private financing to complete funding and ensure a proposed project may move forward. 

 

Tax Increment Financing (TIF) is a development mechanism to finance public infrastructure improvements by creating payments in lieu of property taxes (pilots).  Payments derived from the INCREASED assessed value of any improvement to real property beyond that amount are directed towards a separate fund to finance the construction of public infrastructure that may be needed for the development.

 

The value of real property improvements are exempted from taxes through local TIF authorizing legislation enacted by the municipality, township, or county. A taxpayer whose operations are located within a TIF continues to make payments to the jurisdiction in an amount equal to the real property tax liability that otherwise would have been due had the property not been exempted. These payments in lieu of taxes, or Service Payments, are collected by the county treasurer in the same manner as real property taxes, but are deposited into separate public improvement tax increment equivalent funds.

 

TIFs may fund a number of infrastructure needs including public roads and highways, water and sewer lines, remediation, land acquisition, demolition, the provision of gas, electric, and communications service facilities, and the enhancement of public waterways (note – public infrastructure does not include police or fire equipment).

 

Joint Economic Development District (JEDD) an arrangement in Ohio where one or more municipalities and a township agree to work together to develop township land for commercial or industrial purposes. The benefit to the municipality is that they get a portion of the taxes levied in the JEDD without having to annex it. The benefits to the township are that it does not lose prime development land, it can still collect property taxes as well as a portion of the income tax collected, and it normally receives water from the municipality, which it may not otherwise have. Planning Commission offers expert assistance with establishment of an agreement and creation of the required Economic Development Plan.

 

Census and Demographic Information, and general market info for the county and region

Trumbull County Profile

  

General Site Information on land use, zoning, floodplain and other details.

 

A pro-active network of partners routinely collaborates on:

 

Demographics, Available Land and Buildings, and General Regional Marketing Information – Information for Trumbull County and its surrounding region is compiled by the Youngstown-Warren Regional Chamber. Please visit the Regional Chamber website for Chamber information and services. www.regionalchamber.com

 

Loans – Several loan programs are available at the Mahoning Valley Economic Development Corporation (MVEDC), including:

Workforce Development and Training – One-Stop partner organizations provide business, employment and training services to job seekers and employers. Please visit One-Stop for more information regarding recruitment and training grants for current and new workers. www.onestopohio.org

 

Or contact KSU Trumbull for business services and customized training for business and industry.

Customized Training for Business and Training

 

The Trumbull County Planning Commission is always willing and able to call on any of our network partners to meet your business or industry needs on new or expansion projects.

 

We will tailor the best package to make your project a success!