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Updated: 11:01 a.m. Thursday, Dec. 1, 2011 | Posted: 11:00 a.m. Thursday, Dec. 1, 2011

New small business job-creation tool registration starts Monday

InvestOhio designed to help small businesses attract capital to grow and succeed

Staff Report

Registration starts next week for InvestOhio, a $100 million tax credit program designed to help eligible small businesses get the funds from investors they need to grow, succeed, and create jobs.

The Ohio Department of Development, in collaboration with the Ohio Department of Taxation, last month announced the program’s launch.

Registrants are eligible to submit applications beginning at 8 a.m. Monday through the Ohio Business Gateway.

Pre-registration for InvestOhio began on Nov. 14 to allow investors and small businesses to familiarize themselves with the program.

Information on the tax credit program, along with tutorials is available at www.tinyurl.com/investohio.

The effort is projected to generate $1 billion in new investments in Ohio small businesses.

“Valuable capital has been sitting on the sidelines far too long and InvestOhio helps get these dollars into the game to help Ohio’s small businesses take advantage of the emerging economic recovery,” said Christiane Schmenk, director of the Ohio Department of Development. “Governor Kasich and his team are pursuing innovative jobs-creation strategies like InvestOhio to recreate a jobs-friendly climate that will help get Ohio moving again in the right direction.”

InvestOhio encourages investments of up to $10 million in eligible small businesses in exchange for a 10 percent income tax credit for investments held for two years. Eligible small businesses must have less than $50 million in assets or less than $10 million in annual sales.

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