The fund, which offers grants as large as $15,000 based on a scoring system, aims to expand the county’s sales tax base and boost employment opportunities in the county, as well as increase spending opportunities for county residents.
“We feel that this is a great opportunity to bolster existing businesses that may be looking to expand and put us at the forefront for recruiting retail businesses looking to locate in Clark County,” said Alex Dietz, a Clark County economic development specialist.
Applications will be accepted by the development department starting the first week of November, Dietz said.
Funding is competitive, and a scoring system will analyze a few metrics for those seeking grants: the estimated sales and property tax generation of their business, the number of jobs created and retained and the business’ existing or upcoming location in the county.
Businesses looking to start up or expand their existing operations in New Carlisle, Enon, South Charleston, South Vienna and other incorporated areas will score higher in the program, as will business eyeing a start or growth in unincorporated parts of the county.
Credit: Bill Lackey
Credit: Bill Lackey
Businesses in Springfield will also be considered for awards for the Retail Development and Project Fund, but other economic development incentives exist outside of the fund for those businesses, according to Dietz.
“We want to incentivize growth everywhere,” Dietz said. “We want to be additive, as the city does offer its own economic incentives. With that being said, we wanted to level the playing field for more equal development across the board.”
Annual sales tax revenue for a business will be another item taken into account for the program, with businesses generating between less than $10,000 to more than $30,000 in sales tax revenue being considered.
Job creation is also a measure gauged in the program. Businesses that are working to create four or more full-time jobs are eligible for the grant program. Two part-time employees that average 20 hours per week count as one full-time employee in terms of program eligibility, according to the county development department.
Businesses hoping to construct a new facility or take on a building addition project in excess of $50,000 are also eligible for the program.
Nonprofit organizations are not eligible for Retail Development and Project Fund awards, according to the development department.
“We have tried as a community, as a county to show people that, hey, there’s a lot of opportunity here if you want to work here. There’s a lot of opportunity here if you want to live here. And we want there to be an opportunity here for you to spend your money here,” Dietz said. “Because this is the community you live in.”
Those seeking more information about applying for grant funding can contact 937-521-2185.
By the Numbers:
15,000: The maximum award available through the Retail Development and Project Fund
4: The number of full-time employees a business would create to be eligible for the award
50,000: Amount of investment toward building expansion needed for grant consideration.
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