The program provides a refundable tax credit against a company's corporate franchise tax based on the state income tax from the new, full-time employees.
While the amount of the tax credit can be up to 100% for up to 10 years, the Tax Credit Authority has issued credits generally ranging from 50% to 75% for 5 to 10 years. Under Section 122:7-1-06(A) of the Ohio Administrative Code, the Tax Credit Authority cannot grant a tax credit the exceeds 75% unless the Director of ODOD recommends that there is an extraordinary circumstance which merits an exception.