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Hall of Fame Village development plan approved by Canton City Council
Canton City Council members recently voted in favor of the development plan for the Johnson Controls Hall of Fame Village, CantonRep.com reports. The proposed $600-million, 107-acre Village “includes a renovated stadium, youth sports complex, a hotel, specialized centers and other mixed use development,” according to the article. Special zoning “required approval from the city’s planning commission and the council for further development surrounding the Pro Football Hall of Fame.” Most of the components “have an estimated completion date by 2019,” with some “under construction until 2020.” For more, read the full article.
Expanding tax district will bring revenue to Fairfield Twp. and Hamilton
Fairfield Township and the City of Hamilton will gain additional revenue as an additional 184 acres of territory is added to the Hamilton-Indian Springs Joint Economic Development District (JEDD), Cincinnati.com reports. Expanding the JEDD “was prompted by the StoryPoint senior housing project at the northwest corner of Hamilton-Mason and Gilmore roads,” a $20 million project, according to the article. When the facility opens, it will create “[m]ore than 100 jobs — including at least 40 full-time” with a $3 million total annual payroll. Township trustees approved a 10-year, 75 percent property tax abatement for the project, with Fairfield City Schools still receiving payment “equal to what they would have received had the taxes not been abated.” For more, read the full article.
Tronair Inc. to invest $9.5M and create 110 new jobs at Toledo Express Airport
The Toledo-Lucas County Port Authority recently approved a 10-year lease for Tronair Inc. at the Toledo Express Airport, helping to bring jobs and investment to the area, The Toledo Blade reports. Tronair, a Toledo-based company that “makes devices and tools for aviation ground crews . . . will lease an empty air freight building” at the airport. The company will invest $9.5 million and create 110 new jobs as part of its expansion. “Landing Tronair’s expansion in Lucas County was a joint effort of the port authority, the city of Toledo, JobsOhio, the Regional Growth Partnership, and Lucas County,” according to the article. The One Cargo Parkway building that Tronair will lease is located in a joint economic development district between the city of Toledo and Monclova and Swanton townships. For more, read the full article.
$21 million spec project in Greater Cincinnati speaks to “improving economy”
A Minnesota-based developer is looking at investing $21 million in a new speculative project in Butler County that could bring hundreds of jobs to the area, the Cincinnati Business Courier reports. The Opus Group “has proposed the Middletown Logistics Center, a new 613,000-square-foot building intended to attract distribution businesses” in the MADE Industrial Park. Speculative development “speaks to an improving economy” and “points to a low supply of available industrial real estate,” according to the article. Middletown “will consider an enterprise zone agreement with a 100 percent tax abatement for 15 years to support the facility” and would require “the project to create 150 new full-time jobs and $3.5 million in payroll by April 2020.” The Opus Group said “it hopes to attract end users that bring as many as 350 jobs — or $11 million in payroll.” For more, read the full article.
DevelopOhio Economic Incentives Toolkit: your comprehensive resource
With a changing economic development landscape, and an array of job-creation and growth tools including tax credits, abatements, grants, and loans, how do you know which programs or tools can benefit your economic development project the most? Bricker & Eckler LLP has created a comprehensive guide outlining the local, state, and federal tools available to help stimulate job creation and growth. Recently updated, the DevelopOhio Economic Incentives Toolkit is available here.
California-based manufacturer will move headquarters to Ohio
NDC Technologies, a California-based manufacturer of measurement and control solutions for industrial processes, “is consolidating and moving its headquarters to Huber Heights” in a move that could bring 40 jobs to that area, the Dayton Daily News reports. NDC already has operations in Huber Heights, with around 70 employees currently; the “additional 40 jobs would partly come from the relocation of some existing employees, and the creation of new positions,” according to the article. The Dayton Development Coalition and JobsOhio “said the project remains contingent on final approval of incentives.” JobsOhio Managing Director for Advanced Manufacturing and Aerospace, Glenn Richardson, said, “Ohio’s industrial diversity, military presence and abundance of engineering talent make it an ideal location for NDC Technologies to establish its headquarters and grow.” For more, read the full article.
Northeast Ohio saw improved economic development results in 2016
The results of “[l]ocal and state business attraction and retention efforts in 2016” showed a big jump from the previous year, according to results released by economic development groups Team Northeast Ohio (Team NEO) and JobsOhio, Crain’s Cleveland reports. The groups “tallied 4,853 jobs created in the 18 counties of Northeast Ohio” and “nearly $1.6 billion in capital investment” last year, compared to “3,634 jobs and $671 million” in investment for 2015, according to the article. Bill Koehler, Team NEO’s CEO, said the strengthening economy and “narrative around the community” have together “helped to create an environment” of opportunity to attract new or expanding businesses. Team NEO reports that over the past five years, “the regional economic development effort has assisted companies that are committing to create 24,000 jobs and injecting $7 billion in capital investment into the region.” For more, read the full article.
New study provides more in-depth look at state and local business incentives
A recently released report from the Upjohn Institute “addresses the gap” in data and knowledge of state and local economic development incentives “by outlining a new database with better information on state and local business taxes and economic development incentives,” according to the report’s overview. The new database “is distinguished by its breadth, covering more states, industries, and years,” allowing incentives “to be subjected to more in-depth descriptive analyses.” This greater depth of information will support more informed estimates of incentives’ effects. For more, read the full report.
West Milton village, school officials discuss proposed Stillwater Crossing
Officials from the Village of West Milton and the Milton-Union school district recently met to discuss a proposed residential and commercial development that could bring jobs and millions of dollars in investment to the community, but would require infrastructure construction and improvements, the Troy Daily News reports. Developer Equity Inc. of Columbus “is expected to invest between $60 million to $70 million” in the Stillwater Crossing development, which would include “a Randall House assisted living facility and senior cottages, commercial spaces, and 132 single-family homes,” according to the article. The project would require “an estimated $12-15 million” in improvements, including “fiber optics, roads, and sewer systems.” If a tax increment financing (TIF) plan is approved, new property taxes generated by the development would help fund public improvements. Stillwater Crossing is “estimated to create more than 200 new jobs and bring in new businesses including a gas station and car wash, a coffee shop, and possibly a medical facility.” School officials “asked for more information, including estimates on the number of students that could move into the district,” expressing concerns about the impact on the district’s expenses due to increased enrollment. For more, read the full article.
Ohio U and Dublin plan “bustling district” for city’s last large undeveloped area
The City of Dublin is working with Ohio University (OU) on plans for the 1,100 acres in the West Innovation District; those plans would create “a bustling district of people studying, researching, inventing, working and living,” The Columbus Dispatch reports. Dublin and OU teamed up after OU received a $105 million gift, its largest ever, “with a mandate to build an extension of its osteopathic medical school in central Ohio,” according to the article. The plan calls for three phases over the next 30 to 50 years, creating “2.25 million square feet of building space” including a destination “main street” with “shops, cafes, galleries and the like at ground level” and possibly “classrooms or apartments above.” Dublin’s director of economic development, Colleen Gilger, said, “I think universities are inherently a big player in economic development. They’re intense job creators; they spin out new companies.” For more, read the full article.