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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
While this May has been cold, transportation funding opportunities are starting to heat up. The month of May brings with it funding opportunities for Ohio’s Transportation Improvement Districts (TIDs). Ohio has 51 TIDs covering large areas of the state. These intergovernmental agencies are designed to foster planning and cooperation among different counties and local governments […]
The American Rescue Plan Act (ARPA) provides substantial support for targeted industries including small businesses to help them recover from COVID 19. It is no secret that the pandemic has disproportionately impacted small businesses across the country, particularly those owned and operated by women and minorities. Every community has had to face the unfortunate reality […]