Incentives

The City of Tipp City has adopted an official Economic Incentives Policy (PDF) to ensure that Tipp City remains competitive in the retention, expansion and attraction of businesses which contribute to and promote the long-term economic health, stability and welfare of the community. In conjunction with the Economic Incentives Policy, Tipp City utilizes Community Reinvestment Areas and Enterprise Zones as noted below.

What Are the Business Benefits?

Tax incentives encourage businesses to reinvest in physical improvements to plants, helping them to grow and remain competitive over the long-term, by exempting them from tax payments normally required by such an investment. The benefits of tax incentives serve as the basis for a long-term relationship between the community and the business.

Community Reinvestment Areas

The Tipp City Community Reinvestment Areas (CRA) are an economic development tool administered by the City of Tipp City that provides real property tax exemptions to businesses making real property investments in Tipp City. Tipp City has established seven CRAs within our community to assist our businesses and industries. CRAs 1 to 4 shown below are "pre-1994" CRAs, while CRAs 5 - 10 are "post 1994" CRAs. Pre and Post 1994 CRAs operate under different rules and regulations which are outlined in the Economic Incentive Policy.

Tipp City’s CRAs are as follows:

1. North of W Main St.; South of SpringMeade; East of CR 25A; West of I-75 (PDF)
2. Park Avenue (Precision Strip and Proto Plastics) and Tipp City Industrial Park (N. Third St.) (PDF)
3. North of Commerce Park Dr.; South of SpringMeade; East of CR 25A; West of Larch Street (PDF)
4. Industrially zoned property southwest of Exit 69 (Lesher properties, AdCo, Captor, and Norson) (PDF)
5. Entire Old Tippecanoe Restoration and Architectural Historic District (PDF)
6. Industrially zoned property west of Interstate Crossings Business Park (PDF)
7. Commercially zoned property on Donn Davis Way (PDF)
8. Commercial and Industrial property; NGCC; Main Street; Kinna Drive; CR 25A (PDF)
9. Commercial, Residential, and Conservation Property West of CR25A abutting Main Street and Kerr Road (PDF)
10. Commercial Property abutting Garber Drive and Tippecanoe Drive (PDF)
11. Commercial and Industrial Property East of CR25A, West of I-75, and North of W. Main Street (PDF)

Enterprise Zones

An Enterprise Zone is a geographic area within which special tax incentives may be offered, by contract, to businesses, which agree to invest in capital improvements and to create and/or retain jobs in that area. EZ incentives take the form of real property tax exemptions on eligible real property investments. The primary purpose of the Enterprise Zone is the stabilization and revitalization of, through investment in, industrial areas, thus spurring the creation and retention of jobs.

All for-profit enterprises located within or expanding into Tipp City’s Enterprise Zones, are eligible for local tax exemption if they agree to establish, expand, renovate or occupy a facility and retain and/or hire new employees. The City of Tipp City may enter into an agreement with an enterprise after determining that the enterprise is qualified by financial responsibility and business experience to create and/or preserve employment opportunities in the enterprise zone and improve the city’s economic climate.

Tipp City’s EZs are as follows:

1. Northern Tipp City including CR25A and Donn Davis Way (PDF).
2. South of W Main St north of Evanston Rd east of CR 25A and west of Hyatt St (PDF)                                
3. West of the Miami Erie Canal to Hyatt Street (PDF)