Study of incentives shows Columbus needs to offer more to compete with suburbs

A detailed study of the tax incentives Columbus offers shows the city needs to offer better incentives to compete with some Central Ohio suburbs, Columbus Business First reports. HR&A Advisors Inc. of New York conducted the study, which “found details ranging from the need for incentives in targeted areas to a revitalization fund developers pay into to help generate money for neighborhoods where development is lacking,” according to the article. While Columbus “is competitive with the abatements it offers . . . typically 10-year, 75-percent abatements for industrial and office projects,” some local cities “can offer abatements at 100 percent for up to 15 years.” Hilliard, Westerville, Dublin and Canal Winchester are among the cities offering larger incentives to attract companies to their communities. For more, read the full article

Financial Incentives, Regional Updates, State Updates