Stark County Legal, Financial, and Development Tools
Stark County supports projects through coordinated legal, financial, and development tools designed to reduce risk, improve project economics, and accelerate execution.
Stark Economic Development Board serves as a central point of coordination, working with local jurisdictions, utility providers, legal counsel, and financing partners to align project requirements and timelines.
We serve as a powerful convener, creating collaborative partnerships that maximize the resources within our area and at the state level to help the private sector thrive in our community. Support is structured on a project-specific basis for the best overall economic impact and to help complete the capital stack.
Project Structuring Support
Projects often require coordination across multiple entities.
SEDB assists in aligning:
- Site control and purchase agreements
- Development agreements with local jurisdictions
- Incentive agreements at the state and local level
- Utility service and infrastructure agreements
This coordination helps ensure that projects move efficiently from evaluation to implementation.
Our Toolbox for Economic Development.
Financing Tools and Support
A range of financing tools may be available depending on project scope and eligibility. These may include:
- Public private financing structures
- Port Authority supported transactions
- Tax exempt financing mechanisms
- Gap financing and project support tools
Each structure is evaluated based on project needs, capital stack, and long term viability.
Port Authority Financing Structure
Port Authorities can support projects through capital lease structures that provide meaningful cost savings during development.
Under this structure, the Port Authority takes title to the real property and leases it back to the project developer or end user. This arrangement allows eligible projects to receive a sales and use tax exemption on construction materials and certain project related purchases.
According to the Ohio Council of Port Authorities, port authorities can assist in gaining access to the national capital market for small- and medium-sized businesses as if the company was rated. This is significant, as only about 5% of companies in the U.S. have a rating. Larger businesses can benefit from port authorities because they can provide financing lease structures for projects which could result in the exemption of state sales taxes on construction materials (this typically accounts for 50% of the costs of a building). Ohio State experts add that port authorities’ tax-exempt status allows them to pass savings on to economic development projects, thus making projects possible that might not otherwise happen.
Key considerations:
- Sales and use tax exemption applies to eligible construction materials and taxable project purchases
- The exemption is based on the combined state and local sales tax rate, typically around 6.75% in Ohio
- This structure is commonly used to reduce upfront capital costs during construction or expansion
- Particularly valuable for large-scale industrial and development projects
Total savings depend on the scope of construction and eligible expenditures. A detailed breakdown of project costs is required to estimate the full value of the exemption.
Foreign Trade Zone (FTZ) Access
Companies locating in Stark County may have access to Foreign Trade Zone benefits through regional FTZ programs.
Potential benefits include:
- Deferral, reduction, or elimination of customs duties
- Improved cash flow through delayed duty payments
- Streamlined customs procedures
FTZ designation is particularly valuable for manufacturers, assemblers, and distribution operations with international supply chains.
The National Association of Foreign-Trade Zones defines FTZs as “secured, designated locations around the United States in or near a U.S. Customs Port of Entry where foreign and domestic merchandise is generally considered to be in international commerce and outside of US Customs territory.” This reduces or eliminates duty on imports, together with other advantages that encourage foreign commerce within the United States.
Foreign Trade Zones offer significant benefits to businesses and communities that foster economic growth and attract investment, such as creating jobs, attracting investment, boosting local economies, enhancing competitiveness, and developing infrastructure.
Joint Economic Development Districts (JEDDs)
Stark County utilizes Joint Economic Development Districts to support infrastructure, revenue sharing, and coordinated development across jurisdictions.
These structures allow:
- Flexible income tax arrangements
- Alignment of infrastructure investment
- Shared economic benefits across communities
JEDDs are often used to support large scale or strategically located projects.
Ohio State’s Community Development authorities explain that a JEDD is a “special-purpose territorial district created by contract between municipal corporations and townships for the purpose of encouraging economic development, creating jobs, and improving the economic welfare of citizens.” This creative, localized tool allows Stark County to collaborate outside of municipal limits to achieve greater economic growth. Additional revenues can provide enhanced infrastructure and public services in the JEDD area.
Why it Matters
For companies and consultants, these tools provide:
- Reduced legal and administrative complexity
- Coordinated deal structuring across multiple stakeholders
- Access to financing mechanisms that improve project economics
- Flexibility in structuring complex or large scale projects
- A single point of contact to manage the process