Ohio Opportunity Zone Tax Credit Program News

The Ohio Opportunity Zone Tax Credit Program provides an incentive for Taxpayers to invest in projects in economically distressed areas known as “Ohio Opportunity Zones”. These Ohio Opportunity Zones are qualified opportunity zones in this state designated by the Federal Statute 26 U.S.C. 1400Z-1.

“Ohio communities are competing with communities across the country for the same investment dollars. Development will provide the tools that give Ohio communities the edge to create maximum economic impact.”
–Director Lydia L. Mihalik, Ohio Development Services Agency

Qualified Taxpayers that have made investments in an Ohio Qualified Opportunity Fund (“Fund”) can apply directly to the Ohio Development Services Agency (“Development”) for a tax credit. Please review the Program Guidelines and FAQs on the program’s webpage for more information regarding tax credit qualifications and parameters.

The Ohio Opportunity Zone Tax Credit Application (“Application”) and required forms will be available for review the week of December 16th through 9:59 a.m. on January 2, 2020 and can be accessed through the program’s webpage. View application.

During the application review period, Taxpayers can:

  • Review the Application and its supporting forms;
  • Create a new application;
  • Access an existing application;
  • Input information and attach files to an application; and/or
  • Save the application information and return later to continue/complete the application.

Applications may be submitted beginning at 10:00 a.m. January 2, 2020. The application submittal period will extend from January 2 through January 31, 2020.

Development will review the applications in the order they are received, issuing the tax credit certificate allocation until all eligible applications are funded OR the $50 million in tax credits is fully utilized – whichever comes first.

From Ohio Development Services Agency