Posts Authored by Robert F. McCarthy

Lodging tax will fund $15M Warren County sports complex

Taxpayers in Warren County will have “zero liability” for a $15-million sports complex other than a county lodging tax, after county commissioners agreed to use the lodging tax to finance the complex, the Dayton Daily News reports. The “3 percent lodging tax, as well as 1 percent recently added” will “be pledged to pay off debt” on the Warren County Sports Park at Union Village, according to the article. The commissioners also voted “to transfer the property for the sports complex to the Warren County Port Authority.” The port authority is expected to vote next Monday to “issue more than $15 million in debt to pay for the facility.” For more, read the full article.

Regional Updates, State Updates

Columbus, Cincinnati, Cleveland, Dayton could all be in the running for Amazon’s $5B second HQ

Three years ago, “Amazon had no presence” in Ohio, but now Columbus is among the Ohio cities hoping to land the company’s $5-billion second corporate campus, adding to Amazon’s data centers, distribution centers and wind farms in the state, The Columbus Dispatch reports. Steve Weitzner, principal of Silverlode Consulting, said Amazon’s growing presence here “might give central Ohio an edge compared with other metro areas,” according to the Dispatch article. The Journal-News reports that Dayton “intends to try to lure the online shopping giant,” saying the city plans to respond to Amazon’s request for proposals for site location. Greater Cincinnati could leverage “low costs of living or commercial real estate” among other factors to bring the project’s expected 50,000 jobs to its metropolitan area, Cincinnati.com reports. Cleveland.com outlined what Amazon is looking for in its “2HQ” location, and how Cleveland stacks up to those requirements. For more, read the full Dispatch, Journal-News, Cincinnati.com, and Cleveland.com articles.

Regional Updates, State Updates

State approves tax credits for eight projects expected to bring $377M in total investments

The Tax Credit Authority recently approved tax incentives totaling approximately $17.7 million for eight projects that could bring $377 million in investments and 3,792 new jobs to Ohio, Gongwer reports. The “proposals brought forward by JobsOhio” include “two new warehouse sites for e-commerce giant Amazon (see our September 8, 2017 blog post)” in North Randall and Monroe that would create 2,000 and 1,000 new jobs, respectively, according to the article. Other recipients include Joseph Manufacturing Company, Inc.’s project that is expected to create “287 full-time positions, generating $7.8 million in new annual payroll,” and Workstream, Inc.’s project that would “create 45 full-time positions, generating $1.4 million in new annual payroll.” Silfex, Inc. “expects to create 400 full-time positions” totaling $20.7 in new annual payroll (see our September 7, 2017 blog post). Synova, LLC expects to add 20 full-time positions; Fresh Unlimited, Inc. plans to add 25; and Beach Communications, LLC expects to create 15.

Financial Incentives, JobsOhio/ODSA, Regional Updates, State Updates

Akron’s Energy Special Improvement District expanded across Summit County

Summit County Council recently voted to “expand the Akron Energy Special Improvement District [ESID] throughout the county” to offer an incentive to organizations to “make energy-efficient improvements,” Cleveland.com reports. Businesses, local governments, and nonprofits “will be eligible to fund energy-efficient lighting upgrades, roof repairs, window repairs and other energy-efficient renovations through the Property Assessed Clean Energy program,” known as PACE, according to the article. The program allows commercial property owners to finance those improvements and repay the loans through property assessments. Summit County Executive Ilene Shapiro said the expansion “will create economic development opportunities that are not only energy efficient but financially beneficial for our largest cities and our smallest townships.” For more, read the full article

Regional Updates, State Updates

Ohio offers $11M in tax credits as Amazon eyes two more facilities in state

Monroe and North Randall could be the newest Ohio locations for Amazon distribution centers, and the state is offering $11.6 million in tax credits to help make that happen, The Columbus Dispatch reports. Amazon “officially announced plans for the North Randall project” that includes a $100 million investment “to develop an 855,000-square-foot center employing 2,000 workers earning $55.4 million a year,” according to the article. Amazon would invest $30 million in the Monroe project, which is expected to create “1,000 jobs with an annual payroll of $26.7 million if the company goes ahead with the project.” The Dayton Business Journal reports that a JobsOhio spokesperson “said it will continue to work with the company” and that the combined $11.6 million tax credit from The Ohio Tax Credit Authority was “an important step.” For more, read the full Columbus Dispatch and Dayton Business Journal articles. 

 

Financial Incentives, JobsOhio/ODSA, Regional Updates, State Updates

State awards tax credits to Ohio-based Silfex for $223M Springfield project

The Ohio Tax Credit Authority approved tax incentives for Eaton-based Silfex’s expansion project that would “create as many as 400 new jobs and invest $223 million in Springfield,” according to a recent Dayton Daily News article. Silfex, formerly known as Bullen Semiconductor, “provides silicon products for the solar, optical and semiconductor equipment markets,” the Daily News reports. The company’s Eaton headquarters “is the world’s largest custom silicon-growing facility . . . and provides services including prototyping and manufacturing of low-volume components and assemblies.” The deal is “expected to create $20.7 million in additional payroll as part of a 12-year, about 2 percent credit” on Silfex’s Ohio employee payroll taxes. For more, read the full article.

Financial Incentives, Regional Updates, State Updates

Lake Erie 20.7-MW wind turbine project has formal hearing scheduled for November

The Ohio Power Siting Board has scheduled a formal public hearing on the proposed Icebreaker wind turbine project off the shore of Lake Erie, Cleveland.com reports. The board “wants to hear the public’s opinion” of the project; anyone may testify at the November 8 hearing in Cleveland City Council chambers. Additionally, the U.S. Department of Energy (DOE) will hold an “informational open house” on September 6 at the Lakewood Women’s Club Pavilion. The DOE recently released “a preliminary environmental assessment of the project” that concludes “the project’s construction and operation will have minor or negligible impacts on the lake, on bats, migrating birds and insects,” according to the article. The $126-million demonstration project is expected to employ “more than 500 people” and “pump more than $80 million into the local economy.” For more, read the full article.

Regional Updates, State Updates

Multi-million dollar Austin projects bringing jobs and entertainment

Two big projects on the east and west sides of the Austin Boulevard interchange at I-75 “are nearing completion,” the Dayton Daily News reports. The $12-million, 12-screen Cinépolis Dayton movie theater is expected to open by late summer or early fall, with “1,560 seats, upscale food service and a lounge area that has outdoor seating,” according to the article. United Grinding North America’s new $13-million, 100,000-square-foot headquarters is also expected to open this fall, bringing 140 jobs with it. Additionally, “[a]s much as $600,000 has been approved” for landscaping of the “developing interchange shared by Miami Twp., Miamisburg and Springboro,” the three communities that make up the Austin Center Joint Economic Development District (see our February 1, 2017 blog post). For more, read the full article

Regional Updates, State Updates

$8.8M in parcel purchases: Hall of Fame Village property acquisition is nearly complete

As construction on the Tom Benson Hall of Fame Stadium wraps up, developers building the Johnson Controls Hall of Fame Village have “acquired most of the property” they need to complete the nine elements of the Village, CantonRep.com reports. IRG Realty Advisors, the “company purchasing homes for the development,” has “spent at least $8.7 million acquiring parcels over the course of about two years” for the 107-acre Village (see our April 21, 2017 blog post) according to the article. According to an IRG Realty representative, developers planned to begin construction on “the four-star, $135 million hotel and attached parking garage” soon. For more, read the full article

Regional Updates, State Updates

Cincinnati-area port authority changes name to better reflect its mission

The Port of Greater Cincinnati Development Authority doesn’t own a port on the Ohio River, and focuses on redevelopment, not development — but the group’s name didn’t clearly communicate that, the Cincinnati Business Courier reports. The authority’s board voted unanimously to change their name to The Greater Cincinnati Redevelopment Authority, in an effort to reflect their main objective: acquiring “land or buildings that may need significant remediation or demolition for redevelopment,” according to the article. A new impact statement, “We put real estate back to work for everyone in Hamilton County,” also conveys the group’s mission. The port authority fulfills that mission by “[c]learing and preparing large tracts of industrial land” for reuse as manufacturing sites, “[a]iding city and county neighborhoods with revitalization efforts,” and “[h]elping finance private projects to minimize the need for a subsidy from local governments.” For more, read the full article

Regional Updates, State Updates
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