TALLMADGE DEVELOPMENT INCENTIVES
The City of Tallmadge offers the following two development incentives:
The Tax Abatement Program offers real property tax abatement through the Community Reinvestment Area Program for both industrial and commercial development. This program is for new industrial and commercial construction including additions to an existing building. The industrial portion will abate real property taxes on the building only for a period of seven years at 100 percent or ten years at 100 percent if the yearly payroll exceeds $500,000 prior to the seventh year of the abatement. The commercial portion will abate real property taxes on the building only for a period of four years at 50 percent. This is a one-page application and must be applied for prior to the start of construction. Click here to see Ordinance 128-1996.
New Jobs Program
This Incentive program offers monetary incentives to businesses occupying new and or existing industrial, commercial, or retail buildings where such occupancy creates new jobs and or eliminates blight from the community to enhance economic development. Existing businesses creating new jobs within the community resulting in a minimum payroll of $250,000.00 all at one time, excluding benefits, may be eligible for the New Jobs Program (see schedule). The business must maintain its existing and new payroll throughout the grant period. The term of the grant shall be for five years and will reimburse businesses for five years at 50% per year of the payroll income tax collected. Click here to see Ordinance 80-2012.
This Incentive program is also available to new businesses locating in Tallmadge. The minimum payroll to qualify is $1,000,000.00 for retail and $500,000.00 for all other business types (see schedule). The term of the grant shall be for five years and will reimburse businesses for five years at 50% of the payroll income tax collected. (Click here for (New Job Incentivies Application including Payment Form).
In addition, the City of Tallmadge works closely with Jobs Ohio and the Greater Akron Chamber. They both offer a variety of programs which may assist you in your expansion or relocation. We can help to coordinate those efforts.
Please contact Dennis Loughry to assist you in your development needs.
Hours of Operations
46 North Ave
Tallmadge, Ohio 44278
Office Hours: 7:30-4:00pm Mon - Fri
p: (330) 633-5127