The City has two Community Reinvestment Areas (CRAs).
The City of Green Enterprise Zone Tax Incentive Program (EZ Program) allows qualifying companies that demonstrate sound financial responsibility and business experience to receive certain levels of real property tax abatement when new significant investments in land, buildings, and/or machinery and equipment are made.
Foreign Trade Zone (FTZ) Number 181 contains 360 acres of industrial zoned land surrounding the Akron Canton Airport, offering certain manufacturers the potential for tax savings on imported goods.
The City established a Municipal Economic Development Grant (MEDG) program to encourage companies to invest in existing buildings where other incentive programs do not apply.
Our community has established a tailored Tax Increment Financing (TIF) Program, which permits the City to declare improvements to certain parcels of real property to be a public purpose and allows us to recoup the increased taxes from the new development to finance various public improvement projects.
