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Job Creation Tax Credit

The City of Kent created a Job Creation Tax Credit Program, designed to provide companies with an incentive to locate, or expand, in the City. Qualifying companies may claim a refundable income tax credit against their City of Kent profit tax or individual income tax. The credit is up to 24% of the municipal income tax withheld on the qualifying new jobs for a term up to five years, or up to the term offered by the State of Ohio Job Creation Tax Credit Program.

Other Program Requirements

  • The program is restricted to non-retail oriented firms only.
  • The program is open to those firms that are new to the City of Kent, or existing companies that are expanding, and who meet the program requirements.
  • Depending on the projected payroll to be generated for each qualifying job, the required minimum number of full-time, or full-time equivalent jobs that must be created and maintained by the company within a three-year period is either 10 or 25 employees.
  • For companies currently operating in the City of Kent, the existing employment and payroll figures must be maintained in addition to the creation of the requisite number of new jobs.
  • New jobs must pay a wage rate at, or above, 150% of the Federal Minimum Wage.
  • To be eligible, the company must concurrently secure a tax credit through the State of Ohio Job Creation Tax Credit program as specified by the Ohio Revised Code Section 122.17.

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