Community Services & Economic
Development Department > Business Services
Cuyahoga County Based Business Services
The City of Parma Community Services & Economic Development staff can assist your business in accessing and utilizing County based programs for your expansion or relocation within Parma.
State of Ohio Based Business Services
The City of Parma Community Services & Economic Development staff can assist your business in accessing and utilizing State of Ohio based incentives for your expansion or relocation within Parma.
Other Programs Offered to Business:
- Enterprise Zone
Real and personal property benefits for business that expands
or locates in Parma. Limited to industrial projects that agree to retain
or create employment; establish, expand, renovate or occupy a facility
in the Enterprise Zone and invest in new real and/or personal property prior
to project initiation. Up to 75% exemption on real property improvements
or personal property tax valuation for up to 10 years.
- Community Reinvestment Area
Provides local real-property tax incentives for residents and businesses that invest in designated areas of Parma. Incentives available for residential, commercial, and/or industrial projects involving remodeling or new construction. Commercial and industrial projects must have an agreement in place prior to investment. Up to 100% exemption of the improved real property tax valuation for up to 15 years.
- Economic Development Grant Program
Provides a cash rebate of payroll taxes received by the city for businesses that expand or locate within Parma. An agreement must be in place prior to a payroll qualifying for rebate. Maximum 50% rebate for 15 years in city-wide locations. The Economic Development Review Board determines eligibility for participation and grant award.
- Storefront Renovation Program
A 50% matching grant on expenses incurred by a building owner or tenant desiring to upgrade, renovate and/or improve a commercial storefront in select census tracts within Parma. Maximum grant is $21,000. An agreement must be in place prior to the improvements.
- Commercial Loan Program
A low-interest loan available for start-up costs, equipment purchases, job creation, expansion and other costs associated with assisting in the growth of the enterprise. 1 job must be created for every $35,000 borrowed. Eligibility and project approval determined by the Loan Review Committee.
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