The City of Stow has established four Community Reinvestment Areas (CRAs) for the purpose of offering real property tax exemptions to existing Stow businesses wishing to expand and for new businesses moving into Stow. The value of tax incentives available under the CRA program is dependent upon the level of real property investment, employment, and payroll attributable to the project. Follow the links on this page for more information on the types of projects eligible for a tax incentive agreement in each CRA, and for the CRA Tax Incentive Agreement Application.
The City of Stow Income Tax Sharing Grant Program provides a monetary grant to a business that occupies an existing industrial and/or office building in the City of Stow that is vacant or constructs new industrial and/or office space in the City of Stow on land within Community Reinvestment Areas I or II. This CRA Map link shows the location of these areas.
The grant is an annual payment from the City that is equal to a maximum of twenty-five percent of the annual payroll taxes paid to the City of Stow as a result of the new project. Retail and food service businesses are not eligible to participate in the Income Tax Sharing Grant program. Use the program description link below for more detailed information, including eligibility criteria.