Ohio businesses are no strangers to exporting; manufacturers in the state export many products with aircraft parts, medium size cars, engines, and certain data processing machines ranking at the top of the list of goods exported from the state. To support manufacturers and other companies engaging in export activities, the Ohio Department of Development offers several resources that can help:

1. IMAGE Grants

Ohio offers IMAGE, or the International Market Access Grant for Exporters, to eligible businesses. Grants up to $10,000 are available to support export promotion activities, by offering a 50% reimbursement for costs related to:

• the development of an international website/e-commerce
• international marketing
• compliance testing
• international trade shows or domestic trade shows with an international element
• trade missions
• supported individual market visits
• U.S. Commercial Service Programs

Eligible businesses include small (per the SBA Size Standard), for-profit businesses including those that manufacture, assemble, or distribute an exported product that contains a majority of U.S. content. Applicants must identify qualified export activities requiring financial support and have a strategic plan for exporting. Businesses must be in operation for at least one year at the time of application, not knowingly enter into any transaction with any party in the Excluded Parties List System, and be in good standing with all Ohio agencies.

The next round of IMAGE funding is available beginning March 1, 2022 for activities completed between April 1, 2022 and June 30, 2022. For more information, visit https://development.ohio.gov/business/export-assistance/international-market-access-grant-exporters.

2. Export Training

The Ohio Department of Development is currently accepting applications for completed export training, which can be reimbursed up to $5,000 per year. All eligibility criteria applicable to the IMAGE program also applies to the Export Training reimbursement program. Interested applicants can find more information by visiting https://development.ohio.gov/business/export-assistance/international-market-access-grant-exporters#ExportTraining or apply by visiting https://development.force.com/ODSA/s/login/?startURL=%2FODSA%2Fs%2F&ec=302.

3. Appalachian Export Development Program

Grant funds up to $15,000 are available to certain businesses to create a plan to export their products or services, with the help of an export advisor. Funds will provide 75% reimbursement of eligible expenses. In general, eligible businesses are those located in an Ohio Appalachian County as defined by the Appalachia Regional Commission as well as those who meet eligibility criteria as applicable to the IMAGE program. Eligible uses of funds are also similar to those uses permitted by the IMAGE program. Activities must be completed by the date of the application or September 29, 2022, whichever comes first. Interested businesses may learn more by visiting https://development.ohio.gov/business/export-assistance/international-market-access-grant-exporters#AppalachianExportDevelopmentProgram.

4. International Market Support

In addition to the funding opportunities, the Ohio Department of Development offers other resources to support businesses looking to increase export sales or create related jobs. In-market representatives can provide market research or provide matchmaking services with potential customers. In addition, regulations and custom information can help businesses be prepared for exporting to new geographic markets.

To learn more information about the resources available, visit https://development.ohio.gov/business/export-assistance/international-market-support/11-international-market-support or to discuss a specific project need, submit an application to the program by visiting https://development.force.com/ODSA/s/login/?ec=302&startURL=%2FODSA%2Fs%2F.

For certain manufacturers actively exporting, remember that there may be tax incentives available to you via an IC-DISC, or Interest Charge Domestic International Sales Corporation. To learn more about this incentive, which reduces tax burden in order to help companies compete globally, visit our article “Potential Tax Savings for Exports: The IC-DISC”.

To discuss your export strategy, programs available to help, and tax incentives that may be available to exporters, please contact a member of HBK Manufacturing Solutions at 330-758-8613 or manufacturing@hbkcpa.com.