The election shall be amendable and revocable in accordance with the Ohio Revised Code. The non-refundable tax credit against the Corporate Franchise Tax is provided for certain approved corporations for expenses of specific job training expenses for eligible employees. Eligible training is defined as a training program to provide job skills to eligible employees who are unable to effectively function on the job due to skill deficiencies or who would otherwise be displaced because of their skill deficiencies or inability to use new technology. Executive and managerial employees do not qualify unless they are the immediate supervisors of non-managerial employees. Corporations must apply to the Director of Job and Family Services for the credit.
Credits are to be granted on a first-come basis.
The State of Ohio offers a non-refundable franchise tax credit or personal income tax credit for business taxpayers who increase their foreign export sales if they also increase either Ohio payroll or Ohio capital expenditures. The Economic Development Incentive Rates Toledo Edison's Economic Development Incentive Rate is designed to encourage growth, modernization, and business retention in Northwest Ohio. The Consortium is a coalition of four community and technical colleges, two universities, a medical college, the National Center of Tooling and Precision Components, Edison Industrial Systems Center and the Toledo Area Private Industry Council. The consortium has been formed to provide the best possible training for employers at the lowest cost. Consortium members will work together to take advantage of the strengths of each institution in preparing a training program designed for specific employers needs.