Grant Offer Guidelines

The maximum grant will be for 10 years and will be based on new payroll projections according to the following schedule:

Payroll Project by End of Year 3Length of Grant
$300,000 - $1 million4 years
$1 million - $2 million5 years
$2 million - $3 million6 years
$3 million - $5 million7 years
$5 million - $7 million8 years
$7 million - $10 million9 years
$10 million and up10 years

For companies currently operating in Wadsworth, total payroll (existing plus new) shall be used to determine the number of years of the grant.

If the company is leasing space, the number of years of the grant may be limited so as not to exceed the current lease term.

Annual Percentage

The annual percentage of the grant, up to 40%, will be determined on a case-by-case basis by the Tax Incentive Review Council. Grant payments will be based on taxable wages for new jobs created and associated with the project.

Grant Agreement

The grant agreement will be for a specific location. However, if a company has multiple locations in the City of Wadsworth and total employment and payroll projections are met at any combination of locations in the City of Wadsworth, the company will qualify for the grant payment.