Economic development projects in Monroe may qualify for state and/or local incentives.

State Incentives

REDI Cincinnati typically guides businesses through the state incentive process in partnership with JobsOhio and the Ohio Development Services Agency.

These programs may include grants and loans for workforce assistance, job creation tax credits (JCTCs), JobsOhio grants, revitalization assistance, and state-funded infrastructure development support.

Local Incentives

The City of Monroe has 7 primary programs that new or expanding business may qualify for. To discuss which local incentives may be appropriate for the project, contact Jennifer Patterson.

Energy Special Improvement District (ESID)

• This program allows qualified projects to shift the cost of smart energy improvements to an annual special assessment on their property taxes, thereby reducing upfront costs 
• For example projects and a detailed explanation of the process, please visit the ESID webpage.  

Real Property Tax Abatement - Community Reinvestment Area (CRA)

• Monroe's CRA program allows for a reduction in real property taxes resulting from new development.
• Park North at Monroe and Monroe Logistics Center have a 100%, 15 year tax abatement already in place. These abatements do not require City Council approval to take effect, and the level of the abatement is the highest allowed under the Ohio Revised Code.  The abatement period on each building begins when the building becomes taxable through the County Auditor's Office.
• Potential tax abatements in areas other than Park North and Monroe Logistics Center must be approved by City Council and are based on projected income tax and property tax revenue, the developer or tenant's level of partnership with the local school district, the presence of other City incentives or financing support, and the company's investment in the community.

Infrastructure Development Assistance - Tax Increment Financing (TIF)

• Depending on the location of the project and the scope of the potential development, the City may be able to provide local financing assistance for public infrastructure. 
• Financing is only available for projects within the commercial/industrial TIF districts. (See map).
  
• In order to consider tax increment financing, the project generally must be able to generate enough property tax revenue to adequately cover any applicable repayment schedule.
  

Port Authority Assistance

• Monroe is served by both the Butler County Port Authority and the Warren County Port Authority.  These agencies are able to issue bonds to financing private projects.  In some situations, involving a port authority in the project may also allow the company or developer to be exempt from sales tax on the project's building materials. 

Utility Rate Restructuring

• Water and sewer rates for heavy water users and heavy sewer users may be adjusted by City Council as part of an overall incentive package. The adjustment will be based on other available incentives, current utility rates, the company's investment in the community, and the predicted utility usage.

Workforce Support

• OhioMeansJobs has 2 offices near Monroe and works with employers by posting jobs, identifying and screening potential employees, and developing training programs that address specific employer needs and provide employees with a certificate or similar credential.
• Additionally, Monroe posts open position announcements from local businesses on on the City's job board.

Corporate Net Profits Tax Rebate

• The City's corporate net profits rate is 2%. City Council may elect to rebate a portion of a company's net profits tax based on the employee earnings tax revenue generated by the project.