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BUSINESS ATTRACTION

The City of Powell recently welcomed our new Kroger Marketplace and fuel center, a 125,000 SF facility with a $38.8 million investment. This project received a 75%/15-year CRA tax abatement from the City of Powell and a construction material sales tax abatement from the Delaware County Finance Authority for its 150 employee and $6 million payroll commitments.

Powell, Ohio: Where Purchasing Power Meets Intellectual Capital

Position Your Business in Ohio’s Premier Market

Welcome to the City of Powell, a dynamic economic hub distinguished by its exceptional affluence and highly skilled talent pool. For retail, dining, and entertainment leaders, Powell offers immediate access to one of the most powerful consumer markets in the Midwest. With a median household income approaching $190,000—significantly outpacing state and national averages—our residents possess the highest purchasing capability in Ohio. This translates to a community with the disposable income to support premium brands, unique culinary experiences, and high-end entertainment venues.

A Hub for Science, Technology, and Professional Innovation

Beyond our consumer strength, Powell is the strategic choice for forward-thinking enterprises in science, technology, biotech, R&D, and financial services. We are home to the most educated workforce in the state, with nearly 75% of residents holding at least a bachelor’s degree. Your company won’t just be moving to a new location; you will be moving directly to where your future talent already lives. Our community is comprised of the very scientists, engineers, and executives driving today’s innovation economy, offering you an unparalleled advantage in recruitment and retention. you.

Why Powell?

Top-Tier Demographics: A built-in market of high-earning, sophisticated consumers.
Intellectual Density: Direct access to Ohio’s highest concentration of degree-holding professionals.
Strategic Ecosystem: A thriving environment tailored for the growth of bio-science, finance, and corporate headquarters.

Join the businesses that have already discovered the Powell advantage. We invite you to explore how our community’s purchasing power and intellectual capital can accelerate your success.

Workforce Employment by Industries

Business Attraction Incentives

Community Reinvestment Area (CRA) Tax Abatements

The City of Powell utilized Community Reinvestment Area (CRA) tax abatements as a tool to attract businesses and commercial or office projects that fulfill the vision and goals for the City.

In Ohio, CRAs can abate up to 100% of taxes on property improvements (new structures or renovations) for commercial, office or industrial projects for up to 15 years. For anything over 75%, the Olentangy Local School Board must approve the abatement.

In order to be considered for this type of tax abatement, an applicant should already be working with the City's Economic Development staff. An application (below) must be completed and signed BEFORE any building or site plans are approved. Typically, the application should be submitted before or as conceptual plans are being reviewed. Economic need must be shown by sharing a pro forma or financials for the project.

Staff will negotiate an incentive package with you that meets the needs of your project on a case-by-case basis. Staff will then present its recommendation to the City Council Development Committee. That committee will either recommend the proposed package to City Council, ask for it to be modified, or will reject it. Development Committee meets the first Tuesday of each month.

If they recommend it, the proposed CRA will be presented to City Council at the next regularly scheduled meeting. They also can accept it, ask for it to be modified, or reject it. City Council meets on the first and third Tuesdays of each month.

CRA agreements must be approved by City Council (and the School Board when necessary) before ANY vertical construction starts. We also typically want the incentive approved BEFORE project site plans are approved.

CRA Application

Tax Increment Financing (TIF)

For highly positive impact projects, the City of Powell may consider utilizing Tax Increment Financing (TIF) funds to assist with paying for off-site or on-site infrastructure improvements associated with a project.

The project must be in a current TIF district.

Our TIFs are non-school TIFs.

Construction Materials Sales Tax Abatement

Through the Delaware County Finance Authority, a project may apply for an abatement on sales taxes for construction materials.

Find out more at the DCFA website.

Property Assessed Clean Energy (PACE) Financing

PACE financing is a mechanism that allows property owners to fund energy efficiency, renewable energy and water conservation upgrades through a voluntary assessment on their property tax bill which is repaid over time.

Find out more at the DCFA website.

Performance Based Business Attraction Grants

The Powell Performance-Based Business Attraction Grant is a program managed by the Powell Development Corporation (PDC) to help businesses intending to locate in the City of Powell with demonstrated financial need.

This grant is specifically designed to support the attraction and establishment of new businesses by helping to offset costs for items critical to their success and growth, such as equipment, services, and relocation expenses.

Key Highlights

Objective: To provide financial assistance (a performance-based reimbursement grant) to businesses relocating to Powell to help them purchase equipment, services, or other items necessary to sustain and grow.
Performance-Based: Reimbursement is made annually after the project is complete, verified costs are submitted, and based on the company's previous year's payroll, up to a negotiated limit and term.
Maximum Award: Grants may cover up to 100% of eligible project costs, not to exceed a negotiated percentage of annual payroll for a negotiated number of years.

Eligibility Criteria

To be eligible, a business must:

Be signing a lease, purchasing, or building a facility within the City of Powell municipal limits or an area being annexed.
Employ one or more full-time equivalent (FTE) employees.
Be actively working with the City's Economic Development staff on locating their business in Powell.
Be in the process of locating/opening; businesses that are already operational in the City are not eligible.

Eligible Project Costs

The program aims to offset costs related to workforce development, relocation, expansion, and acquisition of critical assets. Examples include:

Machinery and equipment
Software
Relocation and expansion expenses
Real estate lease or purchase assistance
Construction or buildout costs
Training, education, and licenses

Note: Working capital, supplies/inventory, payroll, and projects commenced prior to PDC approval are typically ineligible.

✅ Grant Requirements and Process

Staff Vetting: Applications typically follow vetting by the Economic Development staff, who recommend the request to the PDC.
Compliance: Applicants must comply with all City and State codes and go through all necessary permitting and public entitlement processes.
Project Completion: The project must be completed within 24 months of the grant agreement's execution.
Clawback: Purchased items and services must be used within Powell for the 5-year grant term, or the grantee may be subject to a clawback of funds.

Would you like to know more about the application process (Step 1) or the decision criteria the PDC uses to evaluate applications? View the program guidelines and application below.

Performance Based Business Attraction Grant Program Guidelines

PDC Incentives Application

In 2023, the City of Powell commissioned economic development consulting firm Camoin Associates to develop an economic development strategy for the community. The plan was adopted in the summer of 2023 and the City's first economic development professional was hired in December of 2023.

Download the plan HERE.

City of Powell Available Sites and Buildings

The properties are either synced from a commercial real estate database or hand-entered by Economic Development staff. We are not responsible for any errors or ommissions. If you would like a property listed, please contact us at the info at the bottom of the page.

If the property search below is not working, please visit this link to view available properties in the City of Powell:

https://properties.zoomprospector.com/OHIOLOCAL/broker/45814/seo-key