Business Incubator Deserves Tax Break, Akron Tells Ohio Justices

Creating a nonprofit to run a city business incubator program doesn’t undercut the public purpose of the property for tax exemption purposes, the city of Akron told the Ohio Supreme Court Thursday.

The city wants the justices to overturn a June decision from the Ohio Board of Tax Appeals that the property no longer qualifies for the exemption because Akron ceded direction and control of the program to the nonprofit, Bounce Innovation Hub.

The board’s decision “wrongfully ignores the plain language of the Bounce Code of Regulations, which provides that Bounce’s sole purpose is to manage and operate the business ...