Medina’s grant program boasts creation of more than 1,300 jobs

MEDINA, Ohio – The city’s job creation grant program was created back in 2007 as an effort to attract new businesses to the city and to encourage existing businesses to expand.

Just recently Economic Development Director Kimberly Marshall shared the 2023 job creation grant program annual report with council’s finance committee. She said that these grant agreements are offered when a new eligible business comes into the city or when an existing business expands, thus adding new jobs to Medina.

“Through this program, eligible companies receive an annual grant payment based on a percentage of the income tax revenue they produce,” Marshall said. “These grants are funded through non-income tax generated funds.”

Marhsall said that since the program’s inception, the city has authorized grant agreements for 25 separate projects. She said that in 2023, there were 12 grant agreements that were still in effect and one grant agreement was improved in 2023 – an agreement for Allfasteners on Lake Road.

Since the inception of the program a total of 1,341 full-time jobs and 122 part-time jobs have been created in the city. This is a combined annual payroll of more than $81 million and a combined annual municipal income tax revenue of more than $1.1 million.

“I think this program is doing well and has been a good payout for the city,” Council President John Coyne said. “Not only does it increase our income tax revenue, but these new individuals who are coming to work in our city are hopefully using some of our other city businesses which I think then generates even more income beyond what we see.”