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Incentive Programs

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The City of Centerville works diligently to match its business community with the resources it needs to succeed. The following briefly details the numerous incentive and assistance programs offered by the City.

BusinessFirst!

Partnering to Put Centerville Business First

The City of Centerville, is a proud member of the BusinessFirst! program. Partnering with more than 50 governmental agencies, development organizations, and non-profit corporations in the region, the BusinessFirst! program assists businesses to tap into the resources they need to succeed in a competitive environment. Resource partners include organizations specializing in business financing and capital funding, information technology, foreign trade zone assistance, workforce development, strategic planning, and much more.

Whether you are a business looking to expand your business, relocate, or simply optimize your operations, BusinessFirst! outreach specialists can meet one-on-one with you to keep our business community healthy and growing.

What’s the First Step?

Simply contact the City of Centerville Economic Development Office, at 937-433-7151 to schedule a consultation.

Community Reinvestment Area (CRA) Program

The CRA program grants temporary property tax relief on the increase in value that results from major renovations or expansions of existing buildings and on the constructions of new structures. Incentive periods range from 10-15 years depending upon certain factors.

Most commerical and industrial properties are eligible, regardless of age, with the exception of specifically excluded properties within the City. Residential properties at least 25 years of age or older also qualify for the program. For more information, contact the Economic Development Office at 433-7151.

ED/GE

The City of Centerville is a participant in the ED/GE Program, which was established in 1992, to spur economic growth, as well as create a regional cooperation between Montgomery County jurisdictions. The overall purpose of the ED/GE Program is to promote economic health and take advantage of economic opportunities for all citizens of the County.

Every year, funding is made available to focus on projects that retain or expand local business, support economic sectors that have a high growth potential and provide infill growth in areas already served by basic public infrastructure.

There are two funding cycles per year. The Spring cycle applications are typically due in April and the Fall cycle applications are typically due in November. Applications are submitted by the City of Centerville on behalf of the business. The program focuses on assisting projects that have the potential to attract new jobs, retain existing jobs, and/or invest in high growth industries, along with other characteristics.

Small Business Loans

The SBA 504 Loan Program is generally for healthy, established small businesses. The program provides fixed asset financing for land, building purchases, long-term leasehold improvements and equipment purchases.

Typically, a 504 project includes a loan secured with a senior lien from a private-sector lender covering up to 50 percent of the project cost, a loan secured with a junior lien from the CDC (backed by a 100 percent SBA-guaranteed debenture) covering up to 40 percent of the cost, and a contribution of at least 10 percent equity from the small business being helped.

For more information, please contact the Economic Development Office at (937) 433-7151.