The Ohio General Assembly on the last day of session before the November Election on June 26, 2024, approved the largest capital budget in the state’s history, with the passage of House Bill 2, which appropriates $6.2 Billion in capital infrastructure funding supporting the renovation and construction of the state’s buildings and assets including funding for state parks, dams, state prisons, local K-12 schools, higher education, community projects, and other state facilities. In total House Bill 2 includes $3.5 Billion in new project funding support for projects throughout the state as well as the reappropriation of $2 Billion in previously authorized project funding support.
Like the state operating budget process which happens every two-years, the Ohio General Assembly and the Governor put forth a state capital budget. As part of that budgeting process the Ohio General Assembly has traditionally set aside approximately $150 million in what is referred to as community project funding. These projects make up a small portion of the multi-billion-dollar legislation but are critically important to both large and small communities and organizations around the state.
A major difference with this version of the capital budget was the inclusion of an unprecedented amount of funding support from the One-Time Strategic Community Investment Fund. Last year during deliberations for the current state operating budget the legislature appropriated $700 Million in excess general state tax revenue to support unique community projects with one-time funding. Like past capital budget cycles competition for these resources was high with the Ohio General Assembly receiving thousands of requests ultimately funding over 1,000 unique community projects with a total of $850 Million allocated.
In the latest round of capital budget community projects, the Montrose Group successfully advocated on behalf of clients for over $10 million in community project funding from both the One-Time Strategic Community Investment Fund and State Capital Budget Community Project Funding, supporting the arts & culture industry, local government, healthcare, workforce, and economic development projects to help improve the quality of life and provide redevelopment throughout the state.
In addition to the historic support offered through the community project funding sources, this version like past budgets has allocated additional resources supporting local governments with renovating and replacing their outdated jail facilities through the appropriation of an additional $50 Million in funding Ohio Department of Rehabilitation and Corrections Program. The bill also included the next phase of funding to support Governor DeWine’s proposed renovation of the Ohio State Fairgrounds and Exposition Center through the EXPO2050 initiative, appropriating over $200 Million for the project.
