Cost Advantages
There is a strong business case for choosing Cleveland+ as the optimal location for neurostimulation companies, including:
- A concentration of medical device manufacturers from start-ups to Fortune 500;
- Skilled and talented workforce and tremendous higher education and workforce training programs;
- Resources dedicated by the State to help propel your business;
- A strong incubator system to develop new ideas and expand businesses;
- Great transportation infrastructure and multiple points of access;
- Amenities and other quality of living features at a reasonable price; and
- A business-friendly tax environment.
Consider:
Ohio Tax Reform: New tax laws reduce operating costs and provide ongoing financial incentive to help grow your business. Ohio has the lowest tax rates in the Midwest and one of the lowest overall nationally. Ohio doesn’t assess taxes on corporate income, personal property, the acquisition of manufacturing machinery and equipment or out-of-state sales. The result is your company having more money to invest in what matters most: profitability.
Full Menu of Incentive Programs: The state provides multiple financial options including tax credits, grants, loans and bonds, such as: Ohio Third Frontier Biomedical Program (BMP); Job Creation Tax Credits, Rapid Outreach Grants, Targeted Industries Attraction Grants, 166 Direct Loans, Research & Development Investment Loans, Ohio Enterprise Bonds, and Workforce Guarantee Funds.
Robust Incubator and Business Development System: Cleveland+ supports businesses in all stages of development and has multiple organizations that provide incubator space and a wide variety of business development services to help biomedical companies grow, including: