Starting and Growing Your Business in East Palestine, Ohio
The Village of East Palestine, Ohio, is committed to fostering a thriving business community. Whether you’re an entrepreneur looking to start a new venture or an established business seeking expansion opportunities, East Palestine offers a wealth of financial programs, economic incentives and resources to support your journey. A new webpage of tools and information is now available on both epohio.org and the village government website to help.
Why Start Your Business in East Palestine?
East Palestine is actively investing in economic development to support local businesses. With a range of financial incentives, forgivable loans and job creation programs, the village provides a business-friendly environment that encourages growth and success.
Financial Assistance for Entrepreneurs
Forgivable Loans for Business Recovery
The Ohio Department of Development has created the East Palestine Emergency Support Program to assist businesses impacted by the February 2023 train derailment. Eligible businesses can receive 0% interest loans ranging from $10,000 to $1 million, which are forgivable if used for payroll, rent, utilities, worker protection or inventory replacement.
Gap Financing Programs
For entrepreneurs facing funding shortfalls, East Palestine provides multiple gap financing options:
- SBA 504 Loan: Finance up to 40% of land, building and equipment costs, requiring job creation.
- Regional 166 Loan: Up to 45% of project costs for manufacturing, distribution and technology sectors.
- Revolving Loan Funds: Offered through Valley Partners and OMEGA, these programs provide below-market-rate financing for fixed assets and working capital.
Economic Incentives to Boost Growth
Community Reinvestment Area (CRA) Property Tax Exemptions
The CRA program offers property tax exemptions for new construction, expansions or major renovations.
Businesses must apply before construction begins, and exemptions can last up to 15 years.
Job Creation Incentives
Companies in JobsOhio target sectors such as manufacturing, distribution and high-tech industries can access grants, loans, tax credits and training assistance. These incentives require new capital
investment and job creation in Ohio.
Bond Financing for Industrial Development
The Columbiana County Port Authority provides industrial development bond financing for eligible projects, offering long-term, fixed-rate financing with possible tax advantages.
- Small Business Development Center (SBDC): Offers counseling, business
planning and training. - Youngstown Business Incubator (YBI): Supports tech startups and
entrepreneurs. - MAGNET & Mahoning Valley Manufacturing Coalition: Provides manufacturing support and workforce development services.
Finding the Right Location
Through partnerships with the Columbiana County Port Authority and ZoomProspector, East Palestine provides an Available Properties Listing for entrepreneurs looking to buy or lease
commercial spaces. Property owners can also list their buildings for free.
Permitting and Zoning Requirements
The Village of East Palestine Building and Zoning Department requires permits for construction, demolition or remodeling. Entrepreneurs should ensure compliance with zoning laws before beginning any project. Permit fees vary based on project scope and type.
Community Engagement and Marketing Support
To encourage local business patronage, the village has launched the EP VIP Shopper Club. This free program connects businesses with local shoppers through exclusive deals and discounts, driving foot traffic and customer loyalty.
Get Started Today!
With a range of financial programs, tax incentives and business development resources, East Palestine is a prime location for entrepreneurs. Whether you’re launching a startup or expanding
an existing business, take advantage of these opportunities to thrive in our community.
For more information, visit the Village of East Palestine websites or contact local economic development officials. Let’s build a stronger business community together!