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Sales Tax Funds
The Dayton Community Development Corporation will assist progressive, quality companies with its half cent sales tax funds. DCDC can use its funds to assist a firm’s relocation or expansion with infrastructure and site development costs. However, the DCDC has great flexibility with the use of its funds and can also provide relocation subsidies, job training assistance, loans, grants, etc. DCDC’s incentive package is determined by four criteria:
- The number of jobs created
- The average wage and the gross annual payroll generated
- Capital investment
- The amount of new taxes generated by the project
- The sales tax revenue generated
Once these factors have been finalized, DCDC can then structure an incentive package accordingly. Other areas of assistance can be considered as deemed essential by the company and subject to approval by the Board of Directors.
Tax Abatement
The City of Dayton is committed to the promotion of high quality development. On a case-by-case basis, the city will give consideration to providing tax abatement on the increment in value added to a particular property by a specific development proposal which meets the economic goals and objectives of the city. Tax abatement may be offered on improvements to real property owned by the applicant and/or on new personal property brought to the site by the applicant. Tax abatement will not be ordinarily considered for projects which would be developed without such incentives unless it can be demonstrated that higher development standards or other development and community goals will be achieved through the use of the abatement.
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