Posts Authored by DevelopOhio

AEP Ohio awards OU $250k to research solar’s economic benefits

AEP Ohio has awarded $250,000 in grants to Ohio University to conduct research on the economic benefits of renewable energy initiatives in southeastern Ohio, The Athens News reports. The Voinovich School of Leadership and Public Affairs at the university, which has a long-established relationship with AEP Ohio and the AEP Foundation, will conduct the research project. The study will focus on three main areas: “economic and workforce impacts of currently planned solar installations in Ohio, approaches to additional utility and non-utility solar deployment, and the grid reliability benefits of increasing solar energy penetration,” according to the article. The team will also look at the potential results of “future policy and program changes.” Gilbert Michaud, principal investigator on the project, said, “the increase in tax revenues and job creation associated with increased solar deployment will help create a more stable economy for the region.” For more, read the full article

Renewable Energy, State Updates

Wind farm will be Huron County’s largest economic development project

Huron County commissioners gave unanimous approval for a tax increment financing (TIF) program for the Emerson Creek Wind farm, which will be the largest economic development project in the county, the Norwalk Reflector reports. The 120-turbine wind farm will be located in Huron and Erie counties, and will produce enough electricity to power about 94,000 homes. The TIF program establishes an annual service payment of $9,000 per megawatt of electricity installed for Huron and Erie counties plus various townships and schools. Huron County Commissioner Skip Wilde said the wind farm is projected to bring in $4.5 million in annual revenue to the community. Virginia-based Apex Clean Energy, a utility-scale renewable energy developer, is developing several projects in Ohio, including Emerson Creek, with a combined private investment of $2.6 billion and 690 construction and operating jobs. For more, read the full article

Regional Updates, State Updates

State approves two “huge solar energy farms” that will be largest in Ohio

The Ohio Power Siting Board recently approved two projects that when completed will become “the largest solar farms in the state,” Columbus Business First reports. Together, the two solar-powered electric plants will generate 275 megawatts (MW) of energy, according to the article. Blue Planet Renewable Energy got approval to construct its 125-MW Hillcrest Solar I farm on 1,100 acres east of Cincinnati. The company “estimates that it will add 644 construction jobs and $43.3 million in earnings during construction and create 17 jobs and $1 million a year in earnings during operations.” Hardin Solar Energy received approval “to build a 150-megawatt energy plant” near Bowling Green. Hardin Solar “estimates the project will create 768 jobs that will generate $45.6 million in earnings during construction, and 13 long-term jobs that will generate $758,000 in annual earnings during operation.” For more, read the full article

Regional Updates, State Updates

Editorial: Capital Crossroads & COTA deal could be key to revitalizing downtown

A proposal to provide thousands of downtown Columbus employees with free bus passes could be the answer to multiple issues challenging the growth of the Downtown area, according to a recent editorial in The Columbus Dispatch. The lack of parking or affordable mass transit options is hampering commercial office brokers from leasing office space, hotels from retaining employees, and corporations from moving Downtown, according to the editorial. A proposal to provide “43,000 Downtown employees with free bus passes” will go before “the board [of the] Capital Crossroads Special Improvement District [SID]” in August. The SID “conducted an 18-month test program” that saw the number of employees at participating companies riding the bus double, to 12 percent. For more, read the full article

Regional Updates, State Updates

Bricker & Eckler attorneys to present on economic development

Bricker & Eckler attorneys will present "Developing Property for Economic Growth," on February 23, 2017, at The Union Club in Cleveland. This presentation will walk attendees through the process of developing public or privately-owned properties and facilities. Presenters will address every aspect of the process, including:

  • Real estate: Acquisition, options for ownership structures, rezoning, preparation for development, and revitalization
  • Economic development: Creative tools available to assist with the project and ensure its long-term success, including tax increment financing and energy efficiency financing
  • Bond financing: Considerations for funding the project
  • Construction: Best practices for thorny issues

A networking reception including cocktails and hors d'oeuvres will follow the presentation. For more details or to register, visit the event page.

Financial Incentives, Regional Updates, State Updates