Ohio Creates Water & Sewer Funding Program Linking Infrastructure and Economic Development
The quality of a region’s infrastructure and transportation system directly impacts its chances for current and future economic success. Measures of infrastructure and transportation include a review of major highways, transit and airport systems, and level of traffic congestion that all impact the ability to do business. States like Ohio have a robust highway and […]
Ohio Creates Megaproject Program for Next Major Corporate Site Location Project
The global hunt for the next Amazon HQ2 or FoxConn deal almost always requires an extraordinary economic development incentive deal—a deal that generally has to go to a state government’s legislator to change state law to permit that deal to happen. These “megaprojects” are as big a job producer as can be found in a […]
Ohio Makes Enhancements to State and Local Economic Development Programs
Ohio, like many other Midwest industrial states, benefits from a wide range of local and state economic development programs. The recently passed state operating budget contained updates and enhancements to many of the Ohio economic development programs worthy of note. Ohio Jobs Creation Tax Credit Program. The state of Ohio operating budget allows any business […]
Ohio Makes Tax Changes Impacting Corporate Site Location Projects
The state of Ohio operating budget made substantial changes to state tax programs impacting corporate site location and economic development in the Buckeye State. These changes ranged from a state income tax reduction to changes in existing tax credit programs to modifications designed to grow venturer capital in the state. State Income Taxes. The most […]
Ohio’s New Building Demolition and Site Revitalization Program to Spur Development
The state of Ohio, through their recently enacted state operating budget, created the Ohio Building Demolition and Site Revitalization Program within the Ohio Department of Development to award grants for the demolition of commercial and residential buildings and revitalization of surrounding properties on sites that are not brownfields. The growth of the industrial and multi-family […]
Ohio Brownfield Remediation Funding Creates Substantial Opportunities for Redevelopment
The state of Ohio’s recently passed operating budget recently passed included substantial funding for a newly created $350 M brownfield redevelopment program. Brownfields are real property, and the expansion, redevelopment or reuse may be complicated by the presence of hazardous substances. Brownfield sites are sites contaminated by petroleum or petroleum products, sites contaminated by controlled […]
Ohio Launches Substantial Broadband Program to Serve Rural Markets
Even before the Work from Home movement was launched by COVID 19, the availability of broadband telecommunications network was an essential economic development tool. Access to digital services is reliant on a high-speed data services infrastructure. As the map below illustrates, rural communities throughout Ohio remain behind in the availability of broadband services. Governor Mike […]
Ohio Expands Eligibility Footprint for Rural Industrial Park Loan Program
The state of Ohio, through adoption of the biennial budget, approved new language to expand the eligibility criteria, along with renewed funding, for one of Ohio Development Services Agency’s highly subscribed industrial development programs. The Rural Industrial Park Loan Program (RIPL) promotes economic development across rural areas in the state. The program provides low-interest loans […]
Remote Working to have Major Impact on Corporate Site Location Projects
JP Morgan Chase’s announcement that is plans substantial reductions in its office space— needing just 60 seats per 100 people— illustrates the wholesale change the office market can expect because of the growth of remote work. Work From Home is likely not just to be a reaction to COVID 19 but many workers and companies […]
ARPA Treasury Guidance Begins to Rollout
The United States Treasury Department on May 7, 2021, released the first batch of guidance on how local, state, tribal and territory governments can use the $350 M in American Rescue Program Act (ARPA) funds. ARPA provided substantial funding for local, state, tribal and territory governments for the following uses: to respond to the public […]
