Cleveland Clinic Nabs $155M in Tax Credits, Loan for Lab (1)

A massive Cleveland Clinic research expansion could receive up to $55 million in Ohio tax credits along with a $100 million loan from the state under a deal approved by Ohio development regulators Monday.

The incentive, which provides the hospital system 2.58% of its created payroll over the next 15 years, was adopted by the Ohio Tax Credit Authority in an attempt to keep a new pathogen research center in the Buckeye state. The international hospital system said it considered building the project in Florida, but decided instead to invest $300 million into Cleveland.

The incentives ...