Incentives & Loans/Grants
The State of Ohio, Wood County, and the City of Northwood work together to provide incentives to help you locate here.
STATE OF OHIO ENTERTAINMENT VENUES, HOTELS & RESTAURANT GRANTS OPEN 6/29/2021:
Guidelines are posted for four grant programs providing $155 million in non-repayable funding to entertainment venues, hotels and other lodging businesses, food and beverage establishments, and businesses that opened in 2020. The funds were established through bills passed in May.
The four programs will be administered by the Ohio Development Services Agency. Information on all four programs is available now at BusinessHelp.Ohio.Gov. Applications can be submitted beginning Tuesday, June 29. Apply as early as possible! Limited amounts of grants are available per county. Unused county funds will then be available for those left out of the first round of funding.
The Food and Beverage Establishment Grant will provide grants of $10,000, $20,000, or $30,000 to restaurants, bars, coffee shops, and other food and drink businesses. The amount of individual grants to eligible businesses will be determined by the business’s loss of revenue in 2020. Eligibility is being expanded to wineries, breweries and distilleries who did not qualify based on their NAICS code on the original guidelines. Those guidelines are being revised to make sure wineries, distilleries and breweries with tasting rooms and food service are eligible. Total funding available for this program is $100 million.
The Entertainment Venue Grant will provide grants of $10,000, $20,000, or $30,000 to zoos, aquariums, theaters, music venues, spectator sports venues, museums, historical sites and other entertainment venues. The amount of individual grants to eligible businesses will be determined by the business’s loss of revenue in 2020. Total funding available for this program is $20 million.
The Lodging Grant will provide grants of $10,000, $20,000, or $30,000 to hotels, motels, and bed and breakfast operations. The amount of individual grants to eligible businesses will be determined by the business’s decline in occupancy rate in 2020. Total funding available for this program is $25 million.
The New Small Business Grant will provide grants of $10,000 to small businesses that were established between Jan. 1, 2020 and Dec. 31, 2020. Total funding available is $10 million.
Get more information at www.businesshelp.ohio.gov
Community Reinvestment Area (CRA) Program:
NORTHWOOD BUSINESS LOANS:
Emergency Loan (max $5,000) - assists businesses affected by Covid-19
Conventional (Gap) Loan (max $10,000) - Financing available to Northwood businesses
Business Loan Fund Guidelines I Business Loan Application
For Additional Information Please Contact: City Administrator Bob Anderson at 419.693.9320 or email@example.com
Wood County Economic Development Commission
Eastern Maumee Bay Chamber of Commerce
Funding for Startup