The Morning Journal (Lorain, OH)
City updates economic efforts
Avon Lake has released updates on economic development initiatives and 2018 recipients of the Job Growth Incentive Program.
Economic Development Director Ted Esborn announced 75 local businesses operating in the city who will receive awards as part of the program.
“This is the city’s signature income-tax based economic development program,” Esborn said. “We look at every business in the city and the businesses that grow year over year in income tax payments, we give them an award equal to 25 percent of that increase.”
The city will aim to award a total of $43,282.51 based on withholding tax if approved by City Council later this month.
The program, in its sixth year, was given a five-year renewal in December by City Council with some changes for 2018. The legislation lowered the maximum incentive cap from $100,000 to $50,000 and codified a number of stipulations to include businesses operating in Avon Lake but headquartered in other cities along with businesses operating under the same address as other
entities and different divisions of the same corporation who are all eligible for the award.
Avon Lake Mayor Greg Zilka said the program was about recognizing achievement from local businesses.
“We felt that’s it good policy to let little businesses know we’re thinking about them and make it a positive experience to both parties,” Zilka said. “We find those businesses are more open.”
Since 2012, the program has awarded over $615,000 to businesses operating in Avon Lake and is one of the few programs like it in the area acting as a staple of Avon Lake’s priority in being business-friendly.