Introduction | Economic Development Insight | Business Survey
Economic Development InsightIntroduction | Financial Considerations | History of Economic Development | Master Plan | Commercial Districts | Mixed-Use Development | Market AnalysisHistory and Overview of Economic Development in Upper Arlington- Economic Development History- Economic Development Goals Mirror Community's Wishes - Economic Development Incentives - Recent Highlights/Achievements - 2003 Highlights - 2004 Highlights - Testimonials Economic Development IncentivesSince 1999, a number of economic development incentive programs have been adopted by the City to promote and encourage investment and business expansion in our commercial districts. Programs include:- The Economic Development Fund – low interest loans and grants awarded to qualifying projects. - A Community Reinvestment Area (north of Henderson, west of Sawmill and east of St. Rt. 33) – providing tax abatements on real property improvements to qualifying projects. - An Enterprise Zone (the entire City of Upper Arlington) – providing tax abatements on real and/or personal property improvements or new investment to qualifying projects. - Tax Increment Financing – utilizing the incremental increase in real property taxes generated by new investment to fund public improvements for qualifying projects. - Municipal Job Creation Tax Credit – a credit against a business’s corporate municipal income tax liability based on new employee payroll income tax for qualifying projects. Not all projects are eligible for economic incentives. Guidelines exist for all programs. General qualifying criteria include an affirmative response to some or all of the following questions: 1) Does the proposed project comply with Master Plan recommendations and requirements of the Unified Development Ordinance? 2) Has a complete application that meets the guidelines of the program being applied for been submitted to and accepted by staff and the CIC? 3) Does staff recommend approval of the proposed project and requested incentives? 4) Is City participation necessary to make the project viable? 5) Will the proposed project result in a net fiscal gain for the City? 6) Is the project contractually committed or in the discussion phase only? 7) Has a development/incentive agreement been executed? To further facilitate development, the City's economic development staff acts as an ombudsman for projects by interacting with local property owners, city, county, state and federal personnel and maintaining available commercial property lists and information about other economic development resources. Matt Shad Deputy City Manager-Economic Development City Manager's Office City of Upper Arlington 3600 Tremont Road Upper Arlington, Ohio 43221 Phone: 614-583-5046 www.ua-ohio.net |
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