BUSINESS ASSISTANCE

 

Business Development
Incentive Programs

As part of the Economic Development Program, the City of Middleburg Heights has enacted a bus-devJob Creation Grant Program that can be used to provide qualified businesses funding to offset the cost of capital investments they make in Middleburg Heights. In addition, the City recently has established two Community Reinvestment Areas (CRA) that give us the option to provide real property tax abatement for business retention and expansion projects within the CRA boundaries. Please note that CRA can only be used to reduce taxes based on an increase of assessed valuation associated with real property improvements or new construction.

handshakeThe City’s financial assistance programs are intended and designed to help businesses overcome financial barriers to locating or expanding in Middleburg Heights by providing gap funding to help businesses fill the void between the total cost of a project and the total amount of funds the business has available from other sources such as equity and private financing. Therefore, the City must characterize business development plans in terms of specific project parameters such as jobs, payroll and capital investment in order to determine the type and amount of financial assistance needed to support a project.

In addition to the formal financial assistance programs, the City is able to offer other non-traditional incentives for qualified development projects, including greatly expedited rezoning, when required, expedited plan review and approval and expedited permitting.

All business expansion and development projects receive the personal attention of Mayor Gary Starr and the Director of Economic Development, Charles Bichara, throughout the entire review, approval, permitting, and construction process.