Covered Bridge Development District
44 North Forest St., Geneva, OH 44041 (440) 466-2242 PH (440) 466-6552 FX
City of Geneva, 44 N Forest Street, Geneva, OH 44041 (440) 466-4675 (440) 466-5027 FX
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Covered Bridge Development

JOINING TOGETHER

The City of Geneva and Harpersfield Township formalized a second Joint Economic Development District (JEDD II) in January 2006. The JEDD II was initiated to provide sanitary sewer service to Harpersfield’s prime commercial and industrial land.

INCENTIVES

The Ohio Job Creation Tax Credit Program was established in 1993. The program provides a refundable tax credit against a company's corporate franchise or income tax based on the state income tax withheld from new, full-time employees.

Ashtabula County wants to become your partner, please join us as we mold the future of Ashtabula County. To learn more about all that Ashtabula County has to offer please contact the professional staff at Growth Partnership today to find out how we can help.

OHIO JOB CREATION TAX CREDIT
The Ohio Job Creation Tax Credit Program was established in 1993. The program provides a refundable tax credit against a company's corporate franchise or income tax based on the state income tax withheld from new, full-time employees. Read More.
Download the
JCTC Program Application
BOUNDARY
The JEDD II boundary encompasses 300+ acres with frontage along Interstate 90, State Route 307, Bishop Road and Old Harpersfield Road. Ashtabula County is Ohio's largest county and is located in the northeastern tip of the state, bordering Pennsylvania to the East and Lake Erie to the North. We are within a day's drive of the 13 largest metropolitan areas east of the Mississippi River and a mere four and a half hours to Toronto, Ontario, Canada. Ashtabula County offers a highly skilled and affordable workforce, low cost of living, rural environment, deep harbor ports, and is linked to the country by the interstate highway system.
COST
The cost to construct 11,500 linear feet of sanitary sewer is $1.84 million, and that figure does not include the cost for engineering, permit fees, or surveying.
FINANCING
Creative financing was used to make the project a reality, and includes a Community Development Block Grant, Tax Increment Financing, development fees paid by the affected property owners, and the balance to be financed by the City of Geneva with a $1.5 million loan from the Ohio Water Development Authority. Local contractor CIR was awarded the bid, and construction is expected to be completed this August.
COOPERATION
“Geneva City Council and the administrative staff recognized the need to cooperate with the neighboring communities in the area of economic development and other areas where we can join together to create efficiencies for our citizens,” said Jim Pearson, Geneva City Manager. “This second JEDD is another example of the success achieved by many people working hard towards providing the best possible government for our citizens.”

JOINT ECONOMIC DEVELOPMENT

A Joint Economic Development District (JEDD) is an arrangement in Ohio where a municipality and a township agree to work together to develop township land for commercial or industrial purposes. The benefit to the municipality is that they get a portion of the taxes levied in the JEDD without having to annex a defined territory. The benefits to the township are that it does not lose prime development land, it can still collect property taxes, and it normally receives water or sewer from the municipality, which it may not otherwise have.

JEDD
The City of Geneva and Harpersfield Township formalized a second Joint Economic Development District (JEDD II) in January 2006.  The JEDD II was initiated to provide sanitary sewer service to Harpersfield’s prime commercial and industrial land. The JEDD District boundary’s encompasses 300+ acres with frontage along Interstate 90, State Route 307, Bishop Rd. and Old Harpersfield Road. This location is ideal for development due to its proximity to state route 534 and interstate 90.
SEWERS
Since Harpersfield Township presently does not have sanitary sewers, it has become increasingly more difficult for businesses to physically expand in size and in the number of jobs due to constraints of their septic systems.  The opportunity to provide sanitary sewer infrastructure to this area will assist in retaining existing businesses and jobs. It will allow businesses to expand at their current location without any septic system restrictions; it will attract new businesses to that area, and finally it will increase the value of the land.
The cost to construct the sanitary sewer improvement is $1.84 million dollars, that figure does not include the cost for engineering, permit fees, or surveying. The financing mechanism that was created to pay for the improvement includes a Community Development Block Grant, Tax Increment Financing, Development Fees paid by the affected property owners and the balance to be financed by the City of Geneva with a loan for $1.5 million through the Ohio Water Development Authority (OWDA). The JEDD tax levied in the district will assist the city to pay the OWDA loan. The funding mechanism created for this project is critical to achieving the viability of the JEDD II District.
TAX INCREMENT FINANCING
Tax Increment Financing (TIF) is a tool to use future gains in taxes to finance infrastructure improvements, in this case the expansion of the sanitary sewer to the JEDD #II District. There is an increase in the value of surrounding real estate due to the construction of new facilities for both Nordic Air and Ferrante Winery.
This increased site value and investment creates more taxable property, which increases tax revenues. The increased tax revenues are the "tax increment". Tax Increment Financing dedicates that increased revenue to finance debt issued to pay for the project.
Jedd II Ground Breaking
Jedd II Map
Awards Dinner Jim Pearson
Awards Dinner
Truckmen I-90
Covered Bridge Development District
Ferrante Winery
Ferrante Winery
I-90
I-90
Perfection Corporation
I-90
 
Sewer Work
Sewer Work
Sewer Work
CDBG Ed Program
Sewer Work
 

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