Wednesday, January 16, 2013
Find out how and at what rates grant money would be given to eligible companies
With readings and city council votes pending, Beachwood's Job Creation Incentive Program is not a certainty just yet. Still, Economic Development Director Jim Doutt has already defined requirements and regulations for the city's first-ever legislated incentive program. READ: Beachwood Considers Job Creation Incentives Eligible companies would receive an annual grant based on a percentage of the annual payroll withholding taxes generated by new jobs created in the city. The maximum level for a grant would be for five years and 50 percent. Companies would be deemed eligible if they create 30 new full-time jobs within a three-year period Grants based on new payroll projections would follow this schedule: Grant agreements are for specific …
Tuesday, January 15, 2013
Grant program would reward companies for bringing new jobs and payroll to the city
Beachwood is considering implementing a tool that could provide incentives for companies to relocate to or expand in the city. If approved by city council members, the Beachwood Job Creation Incentive Program would give an annual grant to businesses that create new full-time jobs. The grant amount would be based on a percentage of the annual payroll withholding taxes generated by the new jobs. Such an ordinance would represent the first-ever, on-the-books program to incentivize companies in the city's history. "I think it'll be easy for us to market this, both as a retention and an attraction tool for the city to use," Economic Development Director Jim Doutt said. Doutt mentioned that "the economic development landscape is quite …
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City of Beachwood
25325 Fairmount Boulevard, Beachwood, OH
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Monday, January 14, 2013
Take a look at the measures council members will vote on this evening
Beachwood City Council will gather for its first meeting of 2013 this evening at 7 p.m. at Beachwood City Hall. There are 10 ordinances on the agenda. They include contracts, acceptance of a donation and $80,000 in payments for the Human Services department to take seniors on various trips this year. Council will also consider to the adoption of a job creation incentive grant program for the city. According to the legislation's language, funding would come from non-tax revenue sources like interest income, permit and activity fees, service charges and tax incentive application and monitoring fees.
