Program Description
The Employee Creation Incentive Program (ECIP) is a City-administered payroll withholding rebate program leveraging industrial, manufacturing and high technology businesses interested in relocating to Troy or expanding current Troy operations. This incentive is available only to businesses making a significant investment of capital, jobs and employee wealth in the City of Troy.
Requirements
- Create new jobs averaging 175% of current Ohio Minimum Wage
- Commit new annual payroll for min. 10 years or clawbacks apply
- For expansion projects, invest $20 million in capital improvements
Incentive
- 25% annual rebate of additional Troy payroll withholding
- Rebate capped annually by project type
- Years of eligibility varies by project type and total investment
General Process
- Application must be submitted prior to project commencement
- Approval by Troy City Council
- All other local, state and federal incentives must be explored
- Company must submit all documentation for annual verification
Program Brochure and Application
Click here to find out more and apply.