The Job Creation incentive program is designed to create new jobs in Wadsworth. It can be used in concert with Ohio Department of Development Incentives and is intended to encourage companies with a sizable employee base to locate to Wadsworth.
A company must make an investment in building and/or machinery and equipment and create and maintain a payroll at an agreed-upon level to receive the grant. The grant agreement will specify the beginning payroll, estimated annual payroll increases, percentages used to calculate the grant, and the terms of the grant. The greater a company exceeds the initial payroll threshold, the more it benefits from the incentive grant. The grant can be for multiple years; the term will be determined by the level of investment being made. The amount of the grant awarded is determined by the annual payroll. All grants awarded will be from non-tax City revenue.
The incentive agreement will be approved by the Economic Development and Planning Committee and Wadsworth City Council.
Retail entities are not eligible to participate in the Local Job Creation Grant Program.