from the runway
US cargo-focussed airports report rapid growth in 2020US airports with a cargo focus last year saw their freight volumes grow rapidly as consumers switched to e-commerce, according to new research by Chaddick Institute for Metropolitan Development.
RELEASE - Port Authority Celebrates #SBDC DayWILMINGTON, OHIO - For over 40 years the America’s Small Business Development Center (SBDC) Network has helped millions of men, women, veteran, and minority entrepreneurs and other small business owners start and grow their businesses. Totaling nearly 1,000 locations across the country, SBDCs are in every community providing local businesses and entrepreneurs with the resources needed to succeed. The Clinton County Port Authority is pleased to welcome James Buckner, a new Business Advisor with the Miami University SBDC (MUSBDC), to the Port Authority team.
RELEASE - Port Authority Launches New Economic Development WebsiteWILMINGTON, OH -- The Clinton County Port Authority (CCPA) recently launched a new website, created by Golden Shovel Agency, to further strengthen its online presence and the economic growth of the community. The new site includes county-wide data, information specifically collected for site selectors, and local business resources to serve as a one-stop-shop for companies considering new investment or expansion in Clinton County.
RELEASE - Wilmington Air Park Highest Volume Cargo Airport in Ohio
(Wilmington, Ohio) The Wilmington Air Park was ranked the highest volume airport in Ohio for cargo shipped for 12 consecutive months ended July 2020. That volume also makes it the 33rd busiest airport in the United States based on pounds of freight transiting the airport.
RELEASE-Wilmington Air Park Named Best Airport in Ohio(Wilmington, Ohio) The Wilmington Air Park was recently named the Best Airport in Ohio by Ohio Business Magazine, in its “Best in Ohio Business” Awards. In its announcement, the magazine noted: “In this, our inaugural Best in Ohio Business Awards, we wanted to honor the many businesses and services that make Ohio such a great place to do business.”
RELEASE - County Emergency Loan Fund Initiated(Wilmington, Ohio) The Clinton County Port Authority has launched an Emergency Loan Fund (ELF), to provide short- to mid-term loans to local businesses impacted by the pandemic. “Locally, our small businesses have worked diligently to react to the new business climate,” said Dan Evers, Clinton County Port Authority Executive Director. “This opportunity is designed to target small businesses in need of immediate funds to sustain and/or fund costs associated with re-opening or remaining open.”
RELEASE - Port Authority Recognized as 2020 Best Workplace in Ohio(Wilmington, Ohio) Annually, Ohio Business Magazine sends out the call to organizations throughout the state of Ohio, looking for the Best Workplaces. In its fifth year of recognizing for-profit, nonprofit and government institutions, the publication selected the Clinton County Port Authority to be among the 22 entities, with fewer than 50 employees as a “Best Workplace in Ohio.”
Air Cargo Hub & Air Park Relocation Incentives
Loans and Incentive Programs
The State of Ohio and Clinton County offer incentives, grants and loans programs which fit the needs of both current and prospective businesses. Wilmington Air Park staff works with organizations to customizie incentive programs that best fit each business.
State of Ohio Loans
The Research and Development Investment Loan Fund provides loan financing between $500,000 and $5 million for projects primarily engaging in research and development activity. Rates are fixed (at or below market rates) with other loan terms similar to those of commercial bank financing. Companies receive a dollar-for-dollar, non- refundable Ohio commercial activity tax credit for principal and interest payments made during the year up to $150,000 during the loan term.
The Ohio Enterprise Bond Fund provides revenue bond financing through an S&P rated fund, whereby proceeds from the sale of bonds are loaned to companies for fixed rate, long-term capital asset financing. Rates are market-driven and fixed prior to funding. Loan terms range between seven to 10 years for equipment and 15 to 20 years for real estate. Up to $10 million in financing is available through the program.
The 166 Direct Low Interest Loan provides loans for land and building acquisition, construction, expansion, or renovation, and equipment purchases for eligible businesses. The program provides low- interest loans up to $1.5 million.
State of Ohio Grants
Economic Development Grants can be used for the acquisition of machinery and equipment, new building construction, building acquisition, on- or off-site infrastructure improvements, and other fixed asset investments. Funds are available for manufacturing, research and development, high technology, corporate headquarters, and distribution projects. Given the demand for limited grant funds, qualified projects must involve substantial job creation or retention.
Roadwork Development (629) grant funds are available for public roadway improvements, including engineering and design costs. Funds are available for projects primarily involving manufacturing, research and development, high technology, corporate headquarters, and distribution activity. Projects must typically create or retain jobs. Grants are usually provided to a local jurisdiction and require local participation.
State of Ohio Tax Credits
The Job Creation Tax Credit is a refundable tax credit to companies generally creating at least 10 new jobs (within three years) with a minimum annual payroll of $660,000 that pay at least 150 percent of the federal minimum wage. The tax credit is measured as a percentage of the state income tax withholdings for all new employees hired under the program, and is applied toward the company’s commercial activity tax liability. Should the amount of the credit exceed the company’s commercial activity tax liability for any given year, the difference is refunded. A business must apply for the credit before committing to the project. Applicants must be approved through the Ohio Tax Credit Authority before hiring begins.
The Job Retention Tax Credit is a non-refundable tax credit to companies retaining at least 500 full-time jobs in Ohio. Companies must also commit to a fixed-asset investment of $50 million for manufacturing and $20 million for corporate and professional services. The credit is measured as a percentage of the state income tax withholdings for all employees retained under the program. The tax credit rates for approved projects can be up to 75 percent for 15 years. A business must be approved for the credit by the Ohio Tax Credit Authority before committing to the project.
The Research and Development Investment Tax Credit provides a non-refundable tax credit up to seven percent for qualified research and development expenses. Qualifying expenses fit into two categories: in-house research expenses and contracted research expenses. Any unused portion of a tax credit may be carried forward for up to seven years.
** State training programs are currently being revised. New programs will be available in the upcoming months.
For additional information visit: www.development.ohio.gov/business
Clinton County Port Authority and Local Incentives
- Land cost write down or free land – Critical to site selection
- Sales Tax abatement on Construction Materials for Clinton County Port Authority owned Structures
- Tax abatements
- SBA designated HUB Zone
- Eligible designated areas for New Market Tax Credits
- Wilmington Air Park has a Foreign Trade Zone
- Wilmington Air Park is located in an Enterprise Zone
- Discounted Rent on the Wilmington Air Park by the Clinton County Port Authority
- Free usage of temporary office space at the Wilmington Air Park during start up
- Utility rate incentives (Subject to usage)
- Federally funded On-The-Job Training Grant Progra