Economic Development

Congratulations to Business of the Month – GFS Marketplace
(click here for entire listing
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GFS open 9c

 

Previous Businesses of the Month

Click here – FOR LEASE: Bavaria Road Space Available

Economic Development City Fact Sheet

State Treasurer: Economic Development Programs

Mayor: Don Kuchta
Building Commisioner: Mike Hlad
Asst. Building Commisioner: Dennis Saxe
City Engineer: Nick Fini
Finance Director: Scott Svab
Fire Inspector: Don Bell

Nordonia Hills Chamber of Commerce: nordoniahillschamber.org

RESOURCES FOR ECONOMIC DEVELOPMENT

Summit County Vacant Land – Macedonia. Click here.

17.4+ Acres Highland Pointe Parkway Development Land For Sale Click here

Local Census for the City of Macedonia
2008 Demographic Data: Household, consumer, and employment listing and population demographics.

www.localcensus.com/city/Macedonia/Ohio

Community Re-investment Area Program

Summit County receives funding from the U. S. Department of Housing and Urban Development under the CDBG and Home Programs. A tax incentive program available to housing maintenance and economic and community development within certain areas in Macedonia. Residential, Commercial, and Industrial areas may receive up to 15 years tax abatement for remodeling or for new construction under the CRA program.

There are six members on the Community Reinvestment Area Housing Council:
Joseph Biber Bill McRitchie
Mike Kronjak Sam DiSalvatore
Robert Westbrooks Kevin Westbrooks

Map of Macedonia CRA area
Community Reinvestment Area Application

Macedonia Occupancy Program (M.O.P.)

* The M.O.P.

Provides a monetary grant to a business occupying existing industrial/commercial property within The City of Macedonia. Where that occupancy results in new jobs in the city. The grant is an annual payment for the City’s non-tax revenues equal to a portion of the income tax paid as a result of new employment.

* Eligibility Criteria

A company buying or leasing an existing vacant property shall be eligible to receive an annual grant payment under the following terms and conditions:

The owner/ business is not eligible for Enterprise Zone tax incentives.
The owner/business employs or is creating at least 10 new full-time jobs (or equivalent based on 2080 hours per FTE) that will result in at least $250,000 in new annual payroll excluding benefits within a 3-year period.

The owner/ business agrees to maintain the existing payroll and new jobs for the period of the credit. Should the existing and/ or new payroll decline from the level existing at the time of the initial credit agreement, the agreement may be discontinued or the credit reduced proportionately. Failure of the owner/business to maintain existing and new payroll commitments two years in a row will result in mandatory discontinuance of the MOP agreement.

The owner/business commits that it will comply with all laws and ordinances of the City of Macedonia.

The owner/business does not owe any delinquent taxes to the State of Ohio or any political subdivision of the State of Ohio.

A Macedonia Occupancy Program Agreement must be offered by the City prior to the owner/business commencing business operations within the City of Macedonia.

* Schedule of Grant Benefits

An eligible grant recipient will receive an annual grant payment equal to no more than fifty percent (50%) of the total payroll taxes paid to the City of Macedonia for the duration of the Macedonia Occupancy Program Agreement. The duration of the Agreement may not exceed the lease term if the benefitting owner/business is leasing space. Maximum duration of an Agreement is dependent upon annual payroll and is indicated in the following schedule:

Total Annual Payroll
$250,000 to $500,000
$500,001 to $750,000
$750,001 to $1 million
$1,000,001 to $2 million
$2,000,001 to $3 million
$3,000,001 to $4 million
$4,000,001 to $5 million
$5,000,001 and over
Duration
3 years
4 years
5 years
6 years
7 years
8 years
9 years
10 years

Grants will be awarded on a first come-first served basis until all appropriated funds are used. Appropriations are based upon non-tax revenues authorized by Council for the MOP. Payments of grants in future years will be conditional upon and subject to appropriations of non-tax revenues by Council for such payments. Individual MOP grants may not be in excess of $50,000 per year.

*Application Process

Applications for Macedonia Occupancy Program (MOP) grants must be made to the City of Macedonia on forms available from the Mayor=s Office. Initial discussions with prospective applicants will be held in confidence. Should the applicant wish to proceed, information will be forwarded to City Council for consideration and information contained in the application shall then become public information.

An application fee of $500 shall be paid to the City of Macedonia upon submittal of an application. Upon acceptance by the Mayor, the Council Clerk shall direct the Law Director to construct a Macedonia Occupancy Program Grant Agreement and an authorizing ordinance for Council consideration. The matter will be placed on the first available Council Agenda.

Grant payments will begin the first calendar year following the occupancy and will terminate after December 31st of the last year in which a grant amount is to be paid.

*Annual Reporting

Benefitted owners/businesses are required to provide evidence documenting payroll and employment commitments. This information will be provided to the City annually on forms provided. Completed forms will be reviewed by the City of Macedonia Tax Incentive Review Council at their annual meeting. This Tax Incentive Review Council will provide a recommendation to the Mayor and Council regarding the continuance, reduction or discontinuance of each MOP agreement.

*Payback Provision

Should an owner/business receiving benefits through a MOP agreement move from the City of Macedonia during the term of that agreement and fail to meet its obligations under the terms of the agreement, the owner/business shall be required to reimburse the City an amount equal to the benefit received.

Section 2. It is found and determined that all formal actions of this Council concerning and relating to the adoption of this Ordinance were adopted in an open meeting of this Council, and that all deliberations of Council and of any of its committees that resulted in such formal action were in meetings open to the public in compliance with all legal requirements.

LOCAL RESOURCES

Department of Development – Summit County
The Summit County Department of Community and Economic Development offers various programs that assist in increasing the quality of life within community.
www.co.summit.oh.us

Summit County Port Authority
Summit County Port Authority works with executives, economic Development. Fixed-rate Bond Fund Programs; Conduit Financing Programs.
www.summitportauthority.org

Akron-Summit County Public Library
Federal domestic financial and other programs. The Ohio Department of Development promotes economic opportunities to improve the community.
www.ascpl.lib.oh.us/internetresources/bg/grants.html

Economic Development
UARF programs include: The Akron Regional…Stay connected to economic development in Northeast Ohio through the Ohio Venture Association Summit County University.
www.uakron.edu.research/econdev.php

Ohio Business Gateway
Provides financial assistance for training programs. The Ohio Department of Development’s Office…to make available to businesses through its economic development programs.
http://www.business.ohio.gov/

Josh Mandel, State of Ohio Treasurer: For Economic Development program offerings visit: http://tos.ohio.gov/Economic_Development

STATE RESOURCES

Economic Development Programs
Working with communities and businesses, the Department of Development promotes economic opportunities to improve the profits and prosperity of Ohio’s citizens. The Department acting in a support role provides financial, informational, and technical assistance to those making an investment in Ohio’s future.

As a cabinet level agency, the Department oversees a full portfolio of programs including: business attraction and retention, small business growth, technology commercialization, export promotion, travel promotion, energy efficiency, affordable housing, community infrastructure, downtown revitalization and brownfield clean-up.
www.odod.state.oh.us

Clean Ohio Revitalization Fund
Competitive grant fund for the redevelopment of a contaminated site.
www.odod.state.oh.us/ud/CORF.htm

Ohio Treasurer…GrowNow program. Click here for more information.

GrowNow Newsletter Content

GrowNow Frequently Asked Questions

FEDERAL RESOURCES

Small Business Administration

Offers direct financing and loan guarantees to small business to invest in real estate and personal property.
www.sba.gov/financing/index.html