Tallmadge Development Incentives

The City of Tallmadge offers the following development incentives to qualifying businesses:

Real Property Tax Abatement


The Community Reinvestment Area (CRA) Tax Abatement Program offers real property tax abatement on the increase in assessed valuation of commercial and industrial property resulting from improvements.  The program applies to new industrial and commercial construction including additions to existing buildings.

Industrial and non-retail commercial properties are eligible for 100% tax abatement for 7 years based upon a $100,000 minimum yearly payroll and up to 10 years if the payroll increases to $500,000 by the end of the 6th year of the abatement period.

Commercial retail properties not within the Design Control District are eligible for 50% tax abatement for 4 years based upon a $100,000 minimum yearly payroll and up to 7 years if the payroll increases to $500,000 by the end of the 4th year of the abatement period.

Design Control District new construction projects are eligible for 100% tax abatement for 7 years.  However, the abatement may not exceed the amount of the investment.

A one-page application must be submitted to the City’s Economic Developer no later than the date of issuance of the occupancy permit.

New Jobs Program


The City of Tallmadge New Jobs Program provides a monetary incentive in the form of an income tax rebate to businesses occupying new and/or existing industrial, commercial or retail buildings where such occupancy creates new jobs within the city.

Eligibility Categories


  • Pre-existing businesses, located within the City of Tallmadge, that create new jobs resulting in new payroll, excluding benefits, in excess of $250,000 within a one-year period;
  • New businesses, other than retail, moving into Tallmadge and creating  new jobs resulting in a minimum of $500,000 in new annual payroll all at one time, excluding benefits;
  • New retail businesses moving into Tallmadge and creating new jobs resulting in a minimum of $1,000,000 in new annual payroll all at one time, excluding benefits.
The term of the grant period is 5 years for all businesses and grant awards are based upon the published Incentive Payment Schedule and subject to verification of Qualifying New Payroll by the City of Tallmadge Finance Director.

An application must be submitted to the City’s Economic Developer and, upon acceptance, is subject to City Council approval.
 
Please contact the Economic Developer at 330-633-5127 (or click here) to assist you with your business and development needs.