Avon Lake To Recognize Thriving Businesses On May 23

City of Avon Lake: On Wednesday, May 23, at noon in Avon Lake City Hall Council Chambers, the City of Avon Lake will hold a press conference recognizing businesses that are receiving awards under the City’s Job Growth Incentive Program.

The Job Growth Incentive Program (JGIP) was created in 2012, and next Wednesday’s press conference marks the sixth administration of the program. Under JGIP, the City looks at the withholding tax (also known as payroll tax) paid by each business in the City, and compares it to the withholding tax paid the year before.
Within some guidelines, any business that had a higher withholding payment than the prior year gets an
award in the amount of 25% of the increase. So if a business paid $10,000 in withholding to the City in 2016
and $14,000 in withholding to the City in 2017, that business receives a JGIP award of $1,000. To be eligible,
the business must operate in a commercial structure in the City of Avon Lake. This administration of the
program is for tax year 2017.

There will be somewhere between three and eight businesses at the press conference on Wednesday to
receive their JGIP check. At least one of those businesses will be a new business to the City in 2017. JGIP works as an attraction tool because all of the withholding of a new business is growth over the prior year, so new businesses receive some of the largest awards.

Please contact me with any questions.

Image in text via the City of Avon Lake: 2017 Job Growth Incentive Press Conference—May 26, 2017

Top image via Shutterstock.com