The Montrose Group, LLC has been retained to support the launch of a Crawford County, Ohio Opportunity Fund focused on several certified Opportunity Fund sites in Galion and Bucyrus, Ohio. These North Central Ohio communities are primarily rural in nature but have a long history based in manufacturing.
Galion has focused its Opportunity Zone efforts on a 370-acre site that is north of town on State Route 61/Wachs Rd. and US 30 with access to the Galion Municipal Airport to its east and CSX railroad to its west. The site is served by Galion for water, and sewer can be provided to the site through the extension of a line coming from Galion.
The City of Bucyrus is focusing its Opportunity Zone efforts on two sites; the first being a 78-acre site that has all utilities in place including a cul-de-sac industrial road that has access from Mansfield St. The site is less than one mile from US 30 and has direct rail access from the Genesee & Wyoming Railroad.
The second site in Bucyrus is along State Route 98 and US 30. The site has railroad access through the Norfolk Southern Railroad mainline. All utilities are available to the site. The site is directly west of the Ohio Crossroads Industrial Center, a SiteOhio Authenticated Site.
Montrose is engaged with Galion, Bucyrus and the Crawford Partnership to develop the following for these sites:
- Industry cluster analysis to determine the industry that exists in the area that is likely to locate on these sites.
- Site development, infrastructure and transportation analysis to determine the transportation and infrastructure for each site and the related costs to develop each site.
- Opportunity Zone attraction and marketing strategy to identify and attract new investment to these sites from developers and companies.
- Finance and incentive strategy to understand how to fund infrastructure and transportation on the sites and determine the incentives needed to attract OZ investment.
- Opportunity Zone Fund launch to prepare and stand up an Opportunity Zone Fund that is legally and financially able to attract new investment.
- Opportunity Zone Fund pperation to coordinate a board of advisors, determine appropriate structures for OZ investment, market the OZ Fund and comply with federal OZ regulation.
Crawford County Ohio Launching Opportunity Zone FundThe Crawford Partnership, Galion and Bucyrus have taken a huge step in attracting OZ investment to their sites. The OZ program is not the only reason that investors and companies will look to these sites, but the proper OZ structure, site development, and marketing strategy make it more palatable for OZ investment.