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Ohio is: 7 th in the nation in population size with 11,478,000 Ohioans

Easy access to profitable markets lowers your cost of doing business. Ohio is: 7 th in the nation in population size with 11,478,000 Ohioans A labor force of 5.9 million, one of the largest in the US and larger than the population of 35 other states. A Global Business Leader.

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Ohio is: 7 th in the nation in population size with 11,478,000 Ohioans

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  1. Easy access to profitable markets lowers your cost of doing business • Ohio is: • 7th in the nation in population size with 11,478,000 Ohioans • A labor force of 5.9 million, one of the largest in the US and larger than • the population of 35 other states.

  2. A Global Business Leader • For the second year in a row Ohio ranked first in the United States in the number of private investments. • Ohio has over 1,000 international-owned establishments from 26 different countries, employing over 180,000 Ohioans. • Ohio is a leading exporter – ranked 7th nationally

  3. Strong supply chain across numerous key industries improves efficiency and increases profits • Advanced Energy • First Solar • Automotive • Honda, GM, Ford, Chrysler • Advanced Manufacturing • AK Steel, Timken, ABB, Lincoln Electric • Polymers • Goodyear, PolyOne • Bioscience • P&G, Amylin, Cleveland Clinic, Cardinal Health • Logistics • BAX Global, Cardinal Health • Aerospace, Propulsion and Power • FirstEnergy, AEP, GE Aircraft Engines • Professional/Financial Services • Nationwide Insurance, National City Bank, Fifth Third Bank • Agribusiness • Kroger, JM Smucker

  4. Ohio’s abundant skilled labor supply Improves productivity, quality and profit • 5.9 million workers, one of the largest workforces in the US • Over 800,000 manufacturing workers • Top US research facilities located in Ohio include • The Ohio State University • Case Western Reserve University • University of Cincinnati • University of Akron • Ohio has 187 institutions of higher education (more than any other state on a per capita bases) • Ohio ranks fourth in the US to integrating technology into its workforce (State New Economy Index)

  5. Low Business Taxes

  6. Low Taxes compared to other States

  7. Increase Your Profits by Reducing Your Operating Costs • Rapid Outreach Grant • Roadwork Development Grant • Low interest financing • Tax Exemptions • Job Creation Tax Credit • Sales Tax Exemption on Equipment • Real Property Tax Abatements • Workforce Development Training Grants • R & D Investment Tax Credit • R & D Investment Loan

  8. Bipartisan Jobs Stimulus Program Industry Sectors of Growth: Logistics/Distribution $100 Million Bio-Products $ 50 Bio-Medical $100 Advanced Energy $150 Higher Education Workforce Program $250 $650 Million Infrastructure, Roads, Bridges, Cities, Towns: Local Infrastructure (Public Works) $400 Million Clean Ohio – Conservation $200 Clean Ohio – Revitalization $200 Historic Preservation Tax Credit $120 $920 Million Total investment: $1.57 Billion

  9. Major Investment in New Technology & Product Development Third Frontier Program $1.6 billion 10-year commitment Research in Targeted Industries New product commercialization grants Entrepreneurship and Venture Capital Business Attraction Edison Technology Centers for Key Industries Advanced Manufacturing Advanced Materials, Nanotechnology, Polymers Biotechnology Food processing Materials Joining

  10. Opportunities Abound in Cleveland Plus

  11. Who We Are • A collaboration of: • Business Community • Major Chambers of Commerce • Government • Colleges and Universities • Attracting business investment to NE Ohio

  12. Powerful Economy $170 billion economic output---#12 in U.S. 4 million people, 2 million workforce Heartland of the US Economy Diverse industrial/service base Top Ranked Logistics Infrastructure Low cost of doing business Tradition of technology and invention Major concentration of Colleges/Universities Diverse lifestyles: urban to farming

  13. Consistent Growth

  14. Cleveland + Serving Markets Worldwide • More than 150 international companies

  15. Stronger than US in Key Sectors

  16. Growth Industry: Bio Medical • Since 2003, more than 60 bio-med start-ups attracted over $500 million in equity funding • World Class Research • Global Cardiovascular Innovation Center • Center for Stem Cells and Regenerative Medicine • Home to 450+ bioscience manufacturing, service and distribution companies:

  17. Growth Industry: Polymers & Coatings • Heritage of invention and commercialization • 35,000+ people employed • Region is world center for polymer research • Global companies investing and growing

  18. Growth Industry: Advanced Energy Manufacturing expertise and existing supply chain ideally suited to emerging alternative energy industries; Wind, Solar, Fuel Cells

  19. Talented People More than 29 colleges and universities continually nourish the talent pool • 175,000 students • 26,000 BA/BS degrees awarded annually

  20. 225 Colleges within 250 KM

  21. Low Cost of Doing Business Proximity to Markets = Low Transport Cost Low Living Cost = Low People Cost Ohio Tax Reform = Low Business Taxes Plentiful Power & Water = Reliability

  22. Low Cost of Living in Cleveland+

  23. Helping Your Business Succeed Cleveland Plus Business – Portal to the Region Assisting new businesses invest and grow Professional staff experienced with Land and Buildings Workforce Supply Chain and Utilities Government Incentives and Funding Logistics Confidentiality clevelandplusbusiness.com

  24. Excellent Choice for New Investment Access to North American Markets Internationally Experienced Diverse, Strong Economy Lower Costs Technology Leadership Talented People Professional Assistance

  25. It All Adds Up!

  26. Cleveland Plus Incentives

  27. State Tax Credits • Job Creation Tax Credit • Refundable tax credit • Based on income tax withholdings from new jobs created • Applied to Commercial Activity Tax • 25% to 50% tax credit • 5-7 year term • Project must create at least 10 jobs • Research and Development Investment Tax Credit • Non-refundable tax credit for investment in qualified research expenses • 7% of eligible investment • eligible investment is based on all investment exceeding the company’s three-year annual average investment in R&D • Can be carried forward for up to 7 years

  28. State Grants • Rapid Outreach Grant • For costs associated with the acquisition and installation of machinery and equipment • Provided on a reimbursement basis • Projects must involve significant job creation • Targeted Industries Attraction Grant • Competitive Grant program through Ohio’s Third Frontier Program • For costs incurred by bioscience companies committed to hiring high-tech positions • Can be used toward the acquisition of machinery and equipment, land or building acquisition, and building construction

  29. State Loan Programs • Innovation Ohio Loan Fund • For the acquisition, construction, renovation or improvement of facilities, and the acquisition and installation of equipment • Can finance up to 75% of the project cost, from $500,000 to $3 million • Rate is fixed at prime +2%; 4 to 7 year term • Project must create new products or services • 166 Direct Loan • For new building construction, building acquisition, and acquisition of machinery and equipment • Can finance 30% of the project cost, from $350,000 to $1 million • Rate is not to exceed 2/3 of prime rate • 7 to 10 year term for equipment; 15 to 20 year term for real estate • Project must involve significant job creation

  30. State Loan Programs • Ohio Enterprise Bond Fund • Fixed rate, long-term capital asset financing • S&P AA- (double A-minus) rated fund • $1.5 million to $10 million available; can finance up to 90% of project costs • Rate is fixed at 5.20% • 7 to 10 year term for equipment; 15 to 20 year term for real estate • Research & Development Investment Loan Fund • For projects primarily engaging in research and development activity • $1 million to $25 million available; can finance up to 50% of project costs • Rate is not to exceed ½ of prime rate • Companies receive a dollar-for-dollar, nonrefundable Ohio corporate franchise (income) tax credit for all principal and interest payments • 10 year term for machinery and equipment, 15 year term for real estate

  31. State Training Support • Workforce Guarantee Program • Grant funds to assist with certification and/or credentialing and any other related workforce development needs approved by the ODOD • Amount is dependent upon the cost of training, may not exceed $3,000 per new employee • Grantee must create a minimum of 20 new jobs • Ohio Investment in Training Program • Grant funds to assist with training costs, including new or incumbent worker training, management techniques, instructor fees, “train-the-trainer,” and other related training needs • Can fund up to 50% of training costs • Project must involve job creation or retention

  32. Summit County Incentives • Enterprise Zone Program • Community Reinvestment Area • Tax Increment Financing • Summit County Port Authority (SCPA) Financing

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