The Municipal Jobs Creation Tax Credit program provides a nonrefundable credit against a company’s net profits tax liability to the City of Toledo based on the number of jobs and payroll created. The primary goals of the program are to attract and retain companies in target industries and increase the number of high paying jobs for Toledoans.
Eligible applicants meet the following criteria:
- Applicant is a business entity currently located in or considering locating in the City of Toledo that will create or relocate at least 25 fulltime W-2 jobs within 3 years of the effective date of the Municipal Jobs Creation Tax Credit Agreement.
- Applicant complies with the City’s Living Wage requirements.
- Applicant is in good standing with governmental entities (i.e. current on income tax, property tax, utilities, code violations, fees).
Eligible New Employees
Eligible New Employees:
- Are hired or are relocated to the city of Toledo after the effective date of the Municipal Jobs Creation Tax Credit Agreement.
- Do not work more than 20 days at a location that is not the Project Site.
- Are paid a Living Wage.
Applicants submit application and supporting documentation to the Department of Economic Development using ZoomGrants. Failure to submit a complete application and required documentation will delay the review and approval process.
Required documentation includes:
- Affidavit by which the applicant permits the City of Toledo to access the applicant’s income tax records under the control of the City’s Taxation Division for purposes of verifying the applicant’s yearly gross payroll and income tax payments made to and retained by the City.
The Department of Economic Development will review the application and supporting documentation to determine eligibility.
The application will be presented to the City’s Incentive Advisory Committee (IAC) for review. The IAC consists of independent citizens that provide oversight of the City’s incentive programs. The IAC will provide a formal recommendation to the Mayor on how to proceed with the application. Toledo City Council shall authorize the Municipal Jobs Creation Tax Credit Agreement by approval of an ordinance.
Municipal Jobs Creation Tax Credit Agreement
If the application is approved, the City will enter into a Municipal Jobs Creation Tax Credit Agreement with the applicant to establish the terms and conditions for the incentive. Any jobs created prior to execution of the Municipal Jobs Creation Tax Credit Agreement are not considered an eligible new employee.
Applicants will be required to submit an annual report to the Department of Economic Development for the entire term and compliance period of the incentive.
Please email your questions to Cody Brown at firstname.lastname@example.org.