Business growth a priority for Worthington
More than 2,000 businesses call the city of Worthington home, and city leaders hope to attract more through strong economic development programs.
The city recently launched BusinessWorthington, an online hub for companies interested in the Columbus suburb’s tax incentives, grant programs and development projects.
Worthington’s Venture Grant Program is available to companies with 25+ full-time employees or payrolls of at least $1 million. Launched in 2003, 33 projects have received Venture Grant assistance to date, according to Jeffry Harris, Worthington’s economic development manager.
The program is funded by an annual Worthington City Council allocation of $250,000-$300,000 drawn from non-tax city revenues, said Harris via email. So far this year, the city has approved an annual $87,800 grant allocation over ten years to support Crawford Hoying’s new office park development near the Shops at Worthington Place.
Additional Worthington economic development incentives include:
--Tax Increment Financing Program
--Community Reinvestment Area property tax exemptions
--LEED-certified building grants
(Worthington has implemented the recommendations of the Wilson Bridge Corridor study, boosting development in the area near the North High Street / I-270 intersection. Courtesy of the City of Worthington)