Programs
The Youngstown / SBA Initiative
The Youngstown / SBA Initiative is a joint partnership between local banks, the United States Small Business Administration (SBA) and the City of Youngstown. It was designed to provide greater access to capital for entrepreneurs who want to start, grow, or relocate a business in Youngstown. The program combines SBA loan guarantees and the SBA Hubzone Program with additional resources such as grants and tax abatements by the City of Youngstown, creating unique growth opportunities for businesses.
Citywide Facade Renovation Program
Program is applicable toward all exterior renovations (signage, landscaping, refacing, fencing, lighting, etc) Applicant is responsible for obtaining the funding for total project (source of these funds may vary, e.g. public / private funds, personal investment, etc).
Up to 40% of total renovation costs will be reimbursed by the City upon completion (up to $20,000). The 40% reimbursed by the City will initially be considered a loan and then phased out over a five-year period whereby 20% of this loan amount will be forgiven for every year the business remains open.
HUBZone Empowerment Contracting Program
Businesses located in specified areas within the City of Youngstown qualify to participate in the HUBZone Empowerment Contracting Program and benefit from enhanced opportunities to contract with the federal government and provide goods or services.
Ohio Enterprise Zone Program
The Ohio Enterprise Zone Program permits local municipalities, townships and / or counties to encourage new business investment projects by providing direct tax incentives. The incentives generally take the form of real and / or personal property tax exemptions or a specific term on eligible project assets.