Community Economic Development

Community Economic Development

Photograph by:  Steve Harrison, 7/99

Economic Development Newsletters

Small Business Loan Application Form

Now Available

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Our Sustainable Noble Report is NOW on LINE!

The Noble County Sustainable Development Program has finished their planning process.  The Futures Council shared the final report with community leaders in February.  A copy of the Sustainable Noble Report is available in Adobe pdf format.
Direct link to the report:  http://www.ag.ohio-state.edu/~esco/noblefinalreport.pdf

All About Community Economic Development in Noble County

Noble County's economic development efforts are coordinated by the Noble County Economic Development Office -- a cooperative effort of Ohio State University Extension, the Noble County Commissioners, the citizens of Noble County, and the businesses, industries and utilities serving Noble County.  The Noble County Economic Development Office is housed in the Noble County Courthouse and is staffed by faculty and staff of the Ohio State University Extension.  Noble County, located in unglaciated southeastern Ohio, provides a site close to major metropolitan conveniences combined with a more relaxed pace of life.

Although Noble is one of Ohio's least populated counties, its seven county workforce draw area includes 142,600 individuals with 9,500 unemployed and an overall unemployment rate of 6.7%,  the state average based on March 2007 data.  Recent examples in Noble and the surrounding counties indicate that ten or more applicants for each quality job opening is the norm The counties unemployment rate of 7.3% is heigher than the state's 5.5% rate. 

Noble County's largest manufacturing employer is Mahle which employs nearly 300 people in its Caldwell bearing facility.  Other major employers include International Converter which employs approximately 110 in a Caldwell facility manufacturing specialty laminated products.  The State of Ohio's Noble Correctional Institution employs more than 500 people in its new facility at Sharon, west of Caldwell.  Traditionally, surface mined coal has been a major resource and supplier of jobs.  Magnum Magnetics is the counties newest emoployer.  Maagnum occupied the vacant Greif Brother's facility in the Noble County Industrial Park is early 2006.  Since then they have expanded the palnt to more then 100,000 sq. fot. and have emplyed approximately 100.  Changing ecological considerations have reduced mining employment to a shadow of its former self, but coal continues to play a mahttp://clickvideo.ag.ohio-state.edu/econ_dev_basics/Ohio's_Financing_Programs.htm jor role in the regional economy due to the large coal-fired power plants in the Ohio and Muskingum Valleys.

(No endorsement of products or firms included in this webpage is intended, nor is any criticism implied of those not mentioned.)

Noble County is located in the heart of southeastern Ohio, one-half hour from Marietta and Cambridge and less than two and one-half hours from Columbus, Cleveland and Pittsburgh. The county is bisected by north-south I-77 which connects Cleveland with the south.  One-half hour north of the center of the county is east-west I-70, one of the nation's busiest interstate.  State highways in the county include routes 78, 285, 564 and 821.  The Ohio River, with the ability to provide low-cost bulk transportation, is 25 miles to the south of the county.

The Noble County Economic Development Office provides customized development materials upon request.  Please contact us at:

        Noble County Economic Development Office
        Mike Lloyd, Director
        150 Courthouse
        Caldwell, OH 43724

        Office:   740-732-5681
        Fax:        740-732-5434
        E-mail:   lloyd.4@osu.edu
 

The Noble County Economic Development Office custom tailors informational packages to suit the need of the client.  By mixing local, regional, state, and federal incentives, the county can create a competitive package for businesses interested in expanding in or moving to Noble County.  The development office is happy to work with all sizes of businesses to encourage commercial and industrial growth in the county.

The state of Ohio has a wide variety of programs and assistance for businesses interested in locating new or expanding existing operations in the state.  Noble County's Appalachian location opens the door to special state and federal programs targeted to our region.  These programs can significantly reduce the cost of doing business.  For information on the programs currently available, contact the Noble County Economic Development Office or the Ohio Department of Development. 

Regional information on Noble County and on 15 other eastern Ohio counties is available at www.eoda.org the home page of the Eastern Ohio Development Alliance. 

Regional revolving loan funds are available through a program offered at Buckeye Hills - Hocking Valley Regional Development District in Marietta. In addition, Buckeye Hills also maintains an inventory of sites and buildings for the eight counties that it serves in addition to having virtual building packages for commercial, light industrial, and heavy industrial buildings at its www.seovirtual.com site.  The virtual packages provide buildings that have already received state approval and could be built in 60 to 90 days using private funds, or a longer time using various grant programs. 

Two townships located adjacent to the interstate, Olive and Noble, in addition to the village of Caldwell, have the capacity to extend enterprise zone incentives to businesses.  Enterprise zones provide the ability to induce businesses to the area by reducing real property, taxes.  Each enterprise zone agreement is individually negotiated with the business.  The maximum abatement is 75%, while the maximum length of time is 10 years.  All projects must be agreed upon by the business, commissioners and the local unit of government.  Due to Noble County's already low tax rates, firms locating in the county get a substantial discount to the average Ohio rates, even without additional incentives. The states tax code restructuring have resulted in no taxes being levied on new tangible perssonal property or inventory located in the state.

Consultation services for small businesses are available through the Small Business Development Center.Services include business plan development, marketing, cash flow analysis, financial planning and web page development.  In addition to their main office at Marietta College, the SBDC provides services locally at the Caldwell Public Library and at the OSU Extension office.

In addition to the state development programs found on http://www.odod.state.oh.us/OTI.htm , there are additional programs available in Noble County that may not be available in all areas of the state. 

One such program is the Pioneer Rural Loan Program.  This program provides direct loans for businesses that will create new jobs for Ohio citizens in rural counties.  Loan proceeds can be used for acquisition of land and buildings, new construction, renovation and expansion of existing buildings, and acquisition of machinery and equipment.  One job must be created for each $25,000 of state investment.  Maximum loan amount is $750,000 and the maximum participation by the state in any project is 75% of the total project costs.  The interest rate is set at not more than 50% of prime.  Terms can range up to 15 years on real estate and 7 years on machinery.  Typical project structure would include a bank note for 15% of total project costs, owner's equity equaling 10%, and state participation for the remaining 75%.

SBDC in Marietta

Ohio's regional small business development centers provide a wealth of information for both new businesses and existing businesses.  SBDC's can assist individuals thinking of entering business for the first time by looking at business planning, legal structure, insurance, marketing, financing, time demands and all aspects of running a business.  SBDC's also offer regular workshops for those who might be thinking of forming a business and just "want to get their feet wet" an get general information before making a decision.  Noble Co. is served by the SBDC located in Marietta.  For more info on their services check out their web site at www.sbdcmarietta.org .

Video Now Available on the Web

Introduction
Economic Development Overview
Assisting Small Business 
Ohio’s Business/Industrial Development Financing Programs
Industrial Site Development
Industrial Attraction
Enterprise Zones
Cooperative Economic Development Agreements
Community Development Block Grants
Community Reinvestment Areas
E-Commerce
Enterprise Zones
Joint Economic Development Districts
Ohio Tax Increment Financing Program
Revolving Loan Funds
Economic Impact Analysis
Ohio Business Retention & Expansion Initiative
Retail Market Analysis