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Business Assistance The City of Hudson is committed to helping its corporate community grow and prosper. Hudson welcomes businesses, large and small, who wish to locate and expand in our City. We work with businesses, developers, site selectors and real estate brokers to help them locate or expand their businesses in our community. We provide incentives on a case-by-case basis. Following are the types of incentives that might be available for your business. For more information about how the City of Hudson can help your business, contact: Chuck Wiedie Local Assistance • Enterprise Zone The purpose of an Enterprise Zone (EZ) is to encourage investment, job creation and job retention within the geographic boundaries of the EZ. EZ abatements provide real and tangible personal property tax incentives for industrial projects. An EZ abatement can extend for up to 10 years and be granted for up to 75% of the project investment. Each project must be negotiated and all approvals received prior to the startup of construction.
• Job Creation Grant Program The City of Hudson established the Job Creation Grant Program to offer incentives to eligible businesses to establish or expand operations in the City and to create and retain jobs. The City may offer an eligible company an annual grant payment based on a percentage of annual new employee payroll taxes collected by the City of Hudson. All Job Creation Grant Agreements must be completed prior to the company’s start of a project. A company will lose its eligibility for the grant program if agreements for land acquisition, construction, leasing, or installation of machinery/equipment are finalized prior to completion of a Job Creation Grant Agreement with the City of Hudson.
Hudson is home to a Foreign Trade Zone (FTZ) #181, which can save companies located within the zone significant money on tariffs and allow businesses to compete more effectively in the global market place. Any company which imports or exports products can benefit significantly from a location in a FTZ #181. Auto assembly, petrochemical, electronics, warehousing, food products and other companies take advantage of FTZ savings. The City of Hudson’s FTZ is conveniently located at the corner of State Routes 8 and 303. A foreign trade zone is a site within the United States aligned with a U.S. Customs port of entry where merchandise is considered to be in the stream of international commerce. Foreign and domestic merchandise may enter the zone without a formal customs entry or the payment of customs duties and be exempt from federal and state use/excise and personal property taxes. There are two types of zones—general purpose and sub-zone. A general purpose zone includes multiple activities by multiple users, like an industrial park. A sub-zone is a one user plant or facility. For more information on Foreign Trade Zone #181 please contact the Hudson’s Economic Development Office, 330-342-9539, or the Summit County Port Authority (www.summitportauthority.org).
Through the City’s Business Visitation Program, Hudson’s Economic Growth Board and staff meet with existing businesses to assist in retention and expansion, facilitate interactions with the City, and respond to businesses’ needs in a timely, personal fashion. This Summit County sponsored, locally administered, Summit Business Partnership consists of face-to-face visits with CEOs of Hudson companies. Our objective is to assist you in furthering your company’s goals by identifying issues and connecting you to our team of local, state and Federal service providers who can address your specific needs to save you valuable time and provide you with a targeted, rapid response. Additionally, we ask for your feedback on issues affecting your business. Common concerns will be addressed by the appropriate officials, and new programs or processes will be explored to address these issues. Below is a sample of our business survey that will be used during our business visit. To preview the questions, you may download the survey directly from our website. State Assistance Various loan, grant, and tax credit programs are also available through the Ohio Department of Development (ODOD). Hudson works closely with ODOD to facilitate the implementation of these programs for our clients. For more information about these programs, please click on the links below. Tax Credit Programs- www.odod.state.oh.us/EDD/Tax_Credit.htm
Loans and Grants- www.odod.state.oh.us/EDD/Loans_Grants.htm
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