Local Property Tax Exemptions: The Village of Glenwillow can offer tax exemptions to qualifying businesses at the onset of the business operations in the Village. Current laws allow the Village to exempt real estate taxes in exchange for a capital investment into the Village through constructions or renovation of a facility or job creation. Through the Ohio Enterprise Zone and Community Reinvestment Area programs, local communities can elect to abate a portion of property taxes owed by a company. Typical abatements under the Ohio Enterprise Zone are 50 to 75 percent of taxes exempted for 10 to 15 years, on real or tangible personal property. Under the Community Reinvestment Area program, real property taxes can be abated up 100 percent for 15 years.
- Businesses must apply directly to the municipality, which is the site of the new investment. Local governments can grant exemptions of up to seventy five percent (75%) on eligible new investments. The term of these incentives can be for up to ten (10) years. Once an agreement is negotiated between the company and the municipality, the Board of Cuyahoga County Commissioners must approve the agreement. The project cannot begin prior to the Commissioners' approval.
- The companies are required to negotiate and execute a Workforce Cooperation Agreement with the County, which designates the County as the first source of referral for mutually agreed entry-level positions at the company.
- All intra-state relocations require a relocation waiver issued by the Ohio Department of Development. A letter from the mayor of the exited community is required on intra-county relocations.
- Fees include a one-time application fee of $750.00 payable to the Ohio Department of Development. There is also an annual monitoring fee charged by the municipality and split with the County. This fee is equal to one percent (1%) of the taxes exempted, minimum $500 and not to exceed $2,500 per year for the life of the agreement.