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Perry Township and Canton agree to form JEDD for vacant hospital revitalization
With the sale of old Doctors Hospital in Massillon finalized, officials from Perry Township and the City of Canton held a special meeting to work out details on a pending economic development deal, CantonRep.com reports. To “facilitate a deal for the hospital sale,” Canton and Perry Township “agreed last month to form a joint economic development district [JEDD],” according to the article. That agreement will allow the new owner, Dr. John Johnson, to receive “economic incentives only offered via Canton,” including low interest loans, job creation tax credits and job training incentive grants. According to Johnson, the redevelopment goal “is to invest $20 million to $25 million over the next three-to-five years in the old hospital for improvements,” which is expected to create up to 300 new jobs. The JEDD will benefit both Canton and Perry Township, as “revenue from Canton’s 2 percent income tax generated by future hospital employees can be split and collected equally by the township and city.” For more, read the full article.
Airport could be key in plans to attract aerospace industry to southern Ohio
Jason Kester, executive director of the Southern Ohio Port Authority (SOPA), has plans for Scioto County’s development that reach all the way into space. Kester thinks the aerospace industry is a natural fit for the area, and that the Greater Portsmouth Regional Airport could play a key role in attracting that industry to the area, the Portsmouth Daily Times reports. SOPA and the Scioto County Commissioners last year “partnered to have a report done on the airport” that recommended aerospace as a target industry; Kester said “the tri-state cooperative of airports are working on attracting aerospace business to the region,” according to the article. A new Fixed Base Operator for the Greater Portsmouth Regional Airport was announced in November 2016; PMH Aviation “plans to offer aircraft rental, ground on instruction, training supplies, on site testing” and other services. Scioto County Commissioner Bryan Davis said commissioners “are excited about the new FBO,” and said the county will spend “nearly $200,000 on a project aimed at enhancing the infrastructure in the area of the airport.” For more, read the full article.
Cleveland, Akron projects get boost from tax credits Gov. Kasich signed into law
Ohio Governor John Kasich recently signed into law “bonus-sized Ohio Historic Preservation Tax Credits earmarked by the Ohio Legislature to aid renovation of the May Co. building in Cleveland and the former Goodyear headquarters in Akron,” Crain’s Cleveland reports. The state award for the May Co. project “would be about $25 million,” while Industrial Realty Group (IRG)’s plan to renovate the former Goodyear headquarters into contemporary office space would receive $19 million. The catalytic credits, awarded by the Ohio Development Services Agency and Ohio History Connection, are “designed to provide large projects that were aided less than smaller ones by the program’s typical $5 million maximum,” according to the article. Stu Lichter, CEO of IRG, said the tax credit “frees up capital for us to build a parking garage” for the offices at the former Goodyear building. For more, read the full article.
Akron receives $5M federal grant for downtown transportation transformation
A $5 million Transportation Investment Generating Economic Recovery (TIGER) grant will help the City of Akron complete its downtown promenade, Cleveland.com reports. Akron will “use the money from the U.S. Department of Transportation to build a green corridor on Main Street, with street and sidewalk repairs, new on-street parking and dedicated bike lanes,” as well as “transit and traffic enhancements, a roundabout, new signage and green infrastructure,” according to the article. Akron Mayor Dan Horrigan said in a statement, “[i]t is truly an honor to be one of the few TIGER grant recipients in the State of Ohio over the past eight years. This grant is transformational for downtown Akron and for our growth strategies.” TIGER grant recipient projects “must result in five long-term outcomes: safety, economic competitiveness, state of good repair, quality of life and environmental sustainability.” For more, read the full article.
Greater Cincinnati company awarded $2.5M in tax credits for $73M expansion
Mubea, an automotive components manufacturer, may soon expand its already large presence in Greater Cincinnati, after receiving a total of $2.5 million in incentives for a project that would cost $73.3 million and bring 118 new jobs, the Cincinnati Business Courier reports. The Kentucky Economic Development Finance Authority (KEDFA) approved $2 million in incentives “on the condition that Mubea creates and maintains 118 new jobs over the next 10 years with an average hourly wage of $30,” according to the article. KEDFA granted an additional $500,000 in incentives for “construction materials and building fixtures.” Mubea is the Tri-State area’s seventh-largest manufacturer “with 1,400 local employees and 2015 revenue of $530 million,” the Courier reports. Mubea, a German-owned company, is “considering expanding its footprint and installing a second rolling mill and additional presses to meet growing demand and business in the U.S., Mexican and Japanese markets.” For more, read the full article.
Technology startup firm Tilr plans 150 new Cincinnati jobs
Tilr, a startup company “working to disrupt the staffing industry and provide better results for job seekers,” plans to add 150 employees to its Cincinnati office within the next three years, the Cincinnati Business Courier reports. Tilr “works to match people to jobs purely on skills that are inserted into its mobile app. . . . an algorithm helps match people to jobs based on the skills that employers are seeking,” according to the article. The City of Cincinnati “is expected to provide a six-year tax credit to Tilr based on the company’s job creation plans. If the company employs between 100 and 149 people, the tax credit will be worth about $34,560,” and at 150 employees, the tax credit would be worth $67,200. The city “expects the new jobs to bring as much as $403,200 of new tax revenue,” and Tilr “committed to keeping the jobs in Cincinnati for 12 years.” For more, read the full article.
Technical assistance grant will help bring internet access to Mahoning County homes and businesses
Broader wireless internet access in Mahoning County is one step closer to reality, thanks to a “federally funded Connect Ohio technical assistance grant” the Western Reserve Port Authority (WRPA) received, Vindy.com reports. Sarah Lown, WRPA’s public finance manager, said the grant will provide technical assistance to assess the county’s situation and to draw “a map connecting the dots to get us ready to install a system” as phase one of the process. Lown said, “[i]t will take several phases, and we’re going to be looking for an implementation grant after this one.” The Oak Hill Collaborative is administering the technical assistance grant. The initial connection “would be from the collaborative to the county-owned Oakhill Renaissance Place . . . and to county buildings in downtown Youngstown to make all of them wireless internet hot spots,” according to Lown. The new program would also provide internet access to school children who do not have internet service at home. For more, read the full article.
Annual survey of top site selection factors: skilled labor tops list for 2016
What is the most important factor when companies are looking for a location to establish or expand their business? According to the results of AreaDevelopment.com’s annual survey of corporate executives, the availability of skilled labor is the first thing they take into account. AreaDevelopment.com reports that “68 percent of the respondents say they consider whether there are businesses performing activities similar to those of their company in the area of search” as an indicator of whether the talent pool they need will already be established in that area. Other top site selection factors in the top ten are, in order: highway accessibility, quality of life, occupancy or construction costs, available buildings, labor costs, corporate tax rate, proximity to major markets, state and local incentives, and energy availability and costs. For more, read the full article on the survey results.
Webinar: Lame Duck Legislative Economic Development Update
Economic development issues were at the heart of the bustle of activity as State of Ohio legislators worked to wrap up the 131st General Assembly before the year’s end. Learn how to implement changes made to the law; join Bricker & Eckler attorney Chris Schmenk, along with Dave Robinson and Nate Green of the Montrose Group, for an Ohio Economic Development Association webinar covering these legislative changes. Topics include a new commercial property tax abatement program, and changes to Ohio’s TIF law and its Downtown Redevelopment District program. The webinar will take place January 12, 2017, from 9:30 a.m. to 10:30 a.m. To register, click here.
DP&L certifies two Sidney sites as “shovel-ready” for industrial development
Local officials from Shelby County, the City of Sidney, the Sidney-Shelby Chamber of Commerce and Sidney-Shelby Economic Partnership (SSEP) recently celebrated as Dayton Power & Light (DP&L) certified two local industrial park sites as “shovel-ready” for industrial development, the Sidney Daily News reports. The certification means the sites “have met standards set by an internationally-recognized site selection firm” including “the completion of engineering and environmental studies that assure a minimum of risk to potential businesses who are looking for a place to locate,” according to the article. Mike Dodds, SSEP Executive Director, said the process to certify the Sidney Ohio Industrial Park began over two years ago, and the Amos Industrial Park was added as local officials continued to work toward certification. “I really think this will pay big dividends for our community,” Dodds said. DP&L presented $10,000 to SSEP for meeting the deadline on each local project. For more, read the full article.