Working for Business & Industry
The City of Painesville’s Economic Development Department is your window to business success. The Office of Economic Development offers you the business tools needed to successfully grow and expand your business now and into the future.
The City of Painesville owns and operates its own Electric, Water and Waste Water Treatment Facilities providing low-cost reliable utilities and service. Painesville Municipal Electric costs can be 10 to 25% below our competitor’s rates. The Painesville Water Plant and the Painesville Waste Water Treatment Plant also have significant advantages to large users.
Why choose a Public Power Community? Click Here to see the reasons you will want to consider Painesville's a Public Power Community for all your business needs.
Site Selection and Building Listings – The department maintains a list of available building space and vacant land sites in the City. We can assist your business in finding a building or site that fits your needs. Additional information provided below.
PLEDGE Linked Deposit Low-Interest Loan Program – The City assists new businesses in the City with business loans at up to 3% below the conventional loan rate with the program’s participating banks. Possible uses for the PLEDGE Program loans include: property or business acquisition, fixed assets, working capital, receivables financing, environmental cleanup and in some cases retail operations and the acquisition of investment property. (PLEDGE Loan Application Form)
Community Reinvestment Area Tax Incentive – The City of Painesville has four Community Reinvestment Areas that provide businesses with real property tax exemptions of up to 100% for ten years on new buildings and renovation projects. (Tax Abatement Application) | Tax Abatement Map
Enterprise Zone Tax Incentive – The Lake County Enterprise Zone Program provides tax incentives for industrial projects that create jobs in Lake County and invest in real property and/or personal property. Tax exemptions on new real and/or personal property investments of up to 75% for 10 years are available.
Key Accounts Energy Efficiency Program – Through a partnership with American Municipal Power of Ohio, Painesville City provides its industrial companies reduced cost industrial assessments that identify electric and productivity cost reduction strategies. (AMP-Ohio Key Account Services)
Questline: Technical Assistance Hotline– Questline is a free technical information and research hotline available to all Painesville City businesses. Questline provides confidential responses to environmental, process, regulatory, energy and business/marketing related requests. (Questline Services Registration) This service registration is free and available to all businesses within the corporate limits of the City of Painesville.
MuniSynch: Wireless and Telecommunication - The City of Painesville has existing partnerships with Paetec and nationally recognized Beta Strategy Group, which is a strategic design and advisory firm focused on deploying municipal wireless. Through this partnership access to secure, wireless Broadband Internet is available. This secure wireless broadband is a communications infrastructure that measures twice the performance of a typical T1 line, at half the cost. Upload and download speeds of both are symmetrical.
Paetec, a company which delivers personalized communications solutions and unmatched service to business-class customers will also offer companies subsidized relocation or subsidized purchase of new equipment for phone, data and internet connectivity. The complete services of Paetec can also include opportunities for Disaster Recovery.
Port Authority Financing -
Port Authority financing provides fixed rate/bond fund and conduit/non-bond fund financing arrangements. The Port Authority’s public-private partnerships can provide financing tailored to each project’s needs. It issues tax-exempt industrial revenue bonds underwritten by a commercial lender’s letter of credit. The borrower is responsible for service on the incurred debt. The Port Authority Fixed-Rate Bond Fund offers long-term, fixed-interest-rate financing for qualified industrial, commercial and public projects.
Additional County and State Programs – The City of Painesville also maintains information on funding and business assistance resource programs available through Lake County, the State of Ohio and various Federal agencies. (State of Ohio Tax Incentives & Loan Programs)
(State Loans & Bond Financing)
(State Workforce Training & Development Assistance)
Painesville's Partnership Team
Painesville is proud of the partnerships with state and regional organizations which foster business growth and development.