The City of Centerville works diligently to match its business community with the resources it needs to succeed.  The following briefly details the numerous incentive and assistance programs offered by the City. 

BusinessFirst! – Partnering to Put Centerville Business First

The City of Centerville, is a proud member of the BusinessFirst! program.  Partnering with more than 50 governmental agencies, development organizations, and non-profit corporations in the region, the BusinessFirst! program assists businesses to tap into the resources they need to succeed in a competitive environment.  Resource partners include organizations specializing in business financing and capital funding, information technology, foreign trade zone assistance, workforce development, strategic planning, and much more. 

Whether you are a business looking to expand your business, relocate, or simply optimize your operations, BusinessFirst! outreach specialists can meet one-on-one with you to keep our business community healthy and growing. 

What’s the first step? 

Simply contact Nathan Cahall, City of Centerville Economic Development Administrator, at 937-428-4766 or at ncahall@ci.centerville.oh.us to schedule a consultation.   

Linked Deposit

The Linked Deposit Program is designed to spur growth and create jobs in Montgomery County. Participating financial institutions will pre-approve applicants for a two- to four-year economic development loan at a competitive rate of interest. If the project meets the linked deposit criteria, the County Treasurer will purchase a certificate of deposit from the financial institution and accept a lower rate of return. The financial institution is required, by law, to reduce your interest rate by three percent. thus loans are linked between the County, the financial institution, and your business.

Funds must be used for businesses in Montgomery County. Favored business categories include: Manufacturing, Research and Development, and Service. The funds must create new jobs, save existing jobs, purchase new equipment or encourage new construction or expansion.

Economic Development loans will be based upon $35,000 per job created or retained, with a maximum of $500,000. The term of the economic development linked deposit loan is two years, with an option to reapply for an additional two years.

For more information regarding the Linked Deposit Program, contact the Montgomery County Community & Economic Development Department at (937) 225-4642.

ED/GE

The City of Centerville is a participant in the ED/GE Program, which was established in 1992, to spur economic growth, as well as create a regional cooperation between Montgomery County jurisdictions. The overall purpose of the ED/GE Program is to promote economic health and take advantage of economic opportunities for all citizens of the County.

Every year, funding is made available to focus on projects that retain or expand local business, support economic sectors that have a high growth potential and provide infill growth in areas already served by basic public infrastructure.

There are two funding cycles per year. The Spring cycle applications are typically due in  April and the Fall cycle applications are typically due in November. Applications are submitted by the City of Centerville on behalf of the business. The program focuses on assisting projects that have the potential to attract new jobs, retain existing jobs, and/or invest in high growth industries, along with other characteristics.

Small Business Loans

The SBA 504 Loan Program is generally for healthy, established small businesses. The program provides fixed asset financing for land, building purchases, long-term leasehold improvements and equipment purchases.

Typically, a 504 project includes a loan secured with a senior lien from a private-sector lender covering up to 50 percent of the project cost, a loan secured with a junior lien from the CDC (backed by a 100 percent SBA-guaranteed debenture) covering up to 40 percent of the cost, and a contribution of at least 10 percent equity from the small business being helped.

For more information, please contact the Economic Development Office at (937) 428-4766

Architectural Preservation District Tax Abatement

Recognizing that investment and reinvestment in the Architectural Preservation District in Centerville has a unique public value, the City of Centerville adopted a property tax abatement program for property owners in the District.
Under the program, the value of remodeling, additions to an existing building, or construction of a new building may qualify to have the increased value of the property held off the property valuation for property tax purposes for a period of fifteen (15) years.

An application for the Tax Abatement Program may be filed at the Centerville Planning Department at the Centerville Municipal Building located at 100 West Spring Valley Road.

Ohio Mini-Loan Guarantee Program

Provides loan guarantees for fixed assets and equipment for small businesses and start-up or existing business expansion. Projects of $100,000 or less are eligible.

This program is geared towards small business entrepreneurs with fewer than 25 employees and is targeted 50% allocation to businesses owned by minorities and women.

For more information, please call the Office of Minority Financial Incentives at (614) 644-7708 or (800) 848-1300.