Galion Buildings Eligible for Renewed Tax Credit
by GalionLive • October 17, 2011 • Life in Galion • 3 Comments

Earlier this year, Ohioans interested in investing in traditional business districts and neighborhoods rejoiced when the Ohio Historic Preservation Tax Credit was reauthorized and expanded by the Ohio General Assembly.
This tool for economic investment in older communities was first enacted in 2006, and then initially expanded in 2008. To date, the Tax Credit administered by the Ohio Department of Development has been a factor in the rehabilitation of some 108 buildings across Ohio, and have leveraged over $1.4 billion in federal tax credits and private redevelopment funding. This, in turn, has created 20,000 jobs and generated some $80.5 million in new state and local revenues.
This summer, the program was made a permanent part of Ohio’s economic development strategy with an annual $60 million made available.
The tax credit … Read the rest
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