The City of Waterville offers a Community Reinvestment Area (CRA) incentive to businesses that are relocating or expanding in Waterville. There are three areas within the City that are designated as CRAs including the Farnsworth Industrial Park, the Fallen Timbers Business Park, and the Waterville Plaza area.
The CRA provides tax abatement on new construction and is available to non-retail projects. The abatement may be up to 100% on real property improvements for up to 10 years. A School Donation Agreement equal to the reduction in revenue to the Anthony Wayne Local School District is required.
The City of Waterville also has a Job Creation and Retention Grant Program which provides annual cash payments to companies locating or expanding within the City. A portion of the income tax paid by company employees to the City is credited back to the company based on the number of new jobs and increased annual payroll.
Contact the City of Waterville for more information at 419-878-8100.
Lucas County offers an array of business assistance programs as well. For more information on Lucas County and Ohio assistance programs, contact the Lucas County Economic Development Corporation at 419-213-4510 or visit their website at www.lcicoh.com.