The City of Parma Community Services & Economic Development staff can assist your business in accessing and utilizing County based programs for your expansion or relocation within Parma.
- Cuyahoga County Dept. of Development
- Port of Cleveland Development Finance Overview
State of Ohio Based Business Services
The City of Parma Community Services & Economic Development staff can assist your business in accessing and utilizing State of Ohio based incentives for your expansion or relocation within Parma.
- Ohio Department of Development
Other Programs Offered to Business:
- Enterprise ZoneReal and personal property benefits for business that expands or locates in Parma. Limited to industrial projects that agree to retain or create employment; establish, expand, renovate or occupy a facility in the Enterprise Zone and invest in new real and/or personal property prior to project initiation. Up to 75% exemption on real property improvements or personal property tax valuation for up to 10 years.
- Community Reinvestment AreaProvides local real-property tax incentives for residents and businesses that invest in designated areas of Parma. Incentives available for residential, commercial, and/or industrial projects involving remodeling or new construction. Commercial and industrial projects must have an agreement in place prior to investment. Up to 100% exemption of the improved real property tax valuation for up to 15 years.
- Economic Development Grant ProgramProvides a cash rebate of payroll taxes received by the city for businesses that expand or locate within Parma. An agreement must be in place prior to a payroll qualifying for rebate. Maximum 50% rebate for 15 years in city-wide locations. The Economic Development Review Board determines eligibility for participation and grant award.
- Storefront Renovation ProgramA 50% matching grant on expenses incurred by a building owner or tenant desiring to upgrade, renovate and/or improve a commercial storefront in select census tracts within Parma. Maximum grant is $21,000. An agreement must be in place prior to the improvements.
- Commercial Loan ProgramA low-interest loan available for start-up costs, equipment purchases, job creation, expansion and other costs associated with assisting in the growth of the enterprise. 1 job must be created for every $35,000 borrowed. Eligibility and project approval determined by the Loan Review Committee.
Community Services & Economic Development
5517 State Road
Parma, OH 44134
Mon., Wed., & Fri.
8:30 a.m. - 4:30 p.m.
Fax: (216) 661-7407