The purpose of the Springboro Incentive Program (SIP) is to provide an incentive for the attraction of new businesses into vacant commercial and industrial buildings within the City of Springboro. The program may be used in conjunction with other financing and incentive programs available through the federal government, State of Ohio and Warren County as provided herein.
The City of Springboro, through the Springboro Community Improvement Corporation (CIC), will provide as an incentive, a one-time grant for moving expenses to any manufacturing, industrial or service oriented business (retail is not eligible) that is willing to relocate to any existing vacant building within the City based on the following criteria:
The business entity must intend to relocate or create any number of full-time equivalent (FTE) jobs with no less than $500,000 net new payroll (as a result of net new jobs).
The average hourly wage of these jobs, excluding benefits, shall be a minimum of $12 per hour.
The enterprise must have been in operation for no less than three years.
The business entity must be willing to enter into a written agreement with the City to commit to operate within the building and/or the City of Springboro for a minimum 5 five years.