Huber Heights establishing incentive programs to bolster economic growth

Officials in Huber Heights are “establishing several new programs as part of an economic and workforce development strategy” with the mission to ensure the city continues to grow its economy, the Dayton Business Journal reports. The programs include a tuition subsidy for residents working to obtain degrees in certain specialized fields, a façade improvement program for older properties, and a rent guarantee program, according to the article.  Additionally, a local income tax rebate “would benefit Huber Heights residents, current business owners and potential business owners who may be looking to establish operations here.” Jason Foster, the city’s economic development coordinator, “said the goal with all these programs is to bolster the economic vibrancy and quality of life in Huber Heights.” For more, read the full article.

Economic Development, Financial Incentives, State Updates

Mansfield proposes citywide CRA

Developers could receive tax abatements for added or improved value anywhere in the city of Mansfield if City Council approves a proposed citywide community reinvestment area (CRA), the Mansfield News Journal reports. Mansfield economic development director Tim Bowersock said, “we’re not hurting the existing tax base with this program — we’re trying to spur investment,” according to the article. Bowersock noted nearby communities Galion, Mount Vernon, Ashland and Lexington have CRAs. Mansfield’s program would allow taxes on improved value to be abated for up to 10 to 15 years depending on the scope of the project. For more, read the full article.

Economic Development, Financial Incentives, State Updates

Zanesville wins grant to promote Opportunity Zones

The City of Zanesville teamed up with the Zanesville-Muskingum County Port Authority to apply for a grant from Opportunity Appalachia, which will “provide technical expertise to help advertise” the city’s two Opportunity Zones, the Times Recorder reports. Zanesville Mayor Don Mason credits that partnership with securing the grant designed “to help attract investment to smaller, rural areas,” according to the article. Mason said the grant “will help us strategically market the Opportunity Zones to investors who are seeking the program’s federal tax advantages,” noting it is important to the community and local schools to encourage that investment. For more, read the full article.

Economic Development, Financial Incentives, State Updates

Updated Economic Incentives Toolkit available now

Bricker’s DevelopOhio blog is intended to serve as the go-to resource for economic development practitioners in Ohio. Arguably, the blog’s most valuable resource is the Economic Incentives Toolkit, first written in 2011 and updated several times since then. User-friendly by design, the Toolkit works best in the hands of the newly-minted economic developer asked to brief city council on how tax increment financing works. The Toolkit works equally well as a desk reference guide for the experienced economic developer who needs to remember that one JobsOhio funding program she heard about at a conference, as she prepares to meet with a business attraction prospect.

We’re pleased to release an updated and revised Toolkit. Our team of experienced attorneys sharpened their pencils and rewrote large segments of the guide for this year. We updated the Toolkit for new JobsOhio programs, such as the Ohio Site Inventory Program. We include a discussion on county land banks and how those entities compare to their older cousins, community improvement corporations. And the Toolkit now includes practical tips to consider when deploying local economic development incentive tools like Community Reinvestment Areas and Enterprise Zones. 

We know that the COVID pandemic has caused wide-scale disruptions in our business and personal lives. To aid these disruptions and ongoing change, our team has worked during the past several weeks to provide the most accurate, up-to-date resource manual available in the marketplace for Ohio’s economic practitioners.

Economic Development, Financial Incentives, State Updates

$27M project near Dayton airport expected to create 100 new jobs

New details regarding a “massive construction project” near the Dayton International Airport have been revealed, as the developer recently filed for a Tax Increment Financing (TIF) agreement with the city, the Dayton Business Journal reports. NorthPoint Development, “the Kansas-City based developer behind the majority of new construction near the airport,” filed the request for Dayton Building V, a more than 521,000-square-foot facility that will cost an estimated $27.7 million to construct, according to the article. NorthPoint “estimates approximately 100 new jobs will be created as a result of the project, generating an annual payroll of $4.1 million.” For more, read the full article.

Economic Development, Financial Incentives, State Updates

UPDATE: Montgomery County spring ED/GE grants suspended

Update: After initially extending the deadline for the Spring 2020 Economic Development/Government Equity (ED/GE) grants, Montgomery County has suspended this round of grants due to the COVID-19 pandemic, the Dayton Business Journal reports. According to the article, “The Board of County Commissioners anticipates the ED/GE program will resume for the Fall 2020 funding cycle as scheduled.” For more, read the full article.

Original post: The application deadline for Montgomery County’s Spring 2020 Economic Development/Government Equity (ED/GE) grants has been extended to June 1, the Dayton Daily News reports. The competitive program, “designed to help create and retain local jobs,” distributes grant twice each year to “help finance permanent improvement projects” such as renovations, new building construction and power upgrades, according to the article. Businesses should work with their local city, township or village jurisdictions to determine whether their project qualifies to apply for an ED/GE grant. For more, read the full article.

Economic Development, Financial Incentives, Project Finance, State Updates

Incentive packages will keep Sherwin-Williams jobs, investment in NE Ohio

Cleveland City Council and Cuyahoga City Council recently approved separate incentive packages “to anchor Sherwin-Williams Co. to a new downtown headquarters and keep thousands of jobs in the city,” according to a March 23 Cleveland.com article. Cleveland approved a mix of tax incentives and grants totaling up to $100 million that “provides financial help toward construction of a $300-million headquarters, the promise of money for bringing in new jobs” as well as tax relief. Cuyahoga County approved $14 million in incentives in exchange for the manufacturer’s commitment to keep roughly 3,500 current jobs in the county, a March 16 Cleveland.com article reports. For more, read the full March 23 and March 16 Cleveland.com articles. 

Economic Development, Financial Incentives, State Updates

Ohio returns to funding spec-based commercial & industrial development

In 2020, Ohio’s development officials are again awarding large amounts of grant funding to commercial and industrial development projects that don’t have known end users. JobsOhio is now in the midst of launching a $50 million per year grant and loan program for spec-based opportunities. Such projects often originate from local communities or developers eager to prepare sites for future business use. These types of projects lack a business prospect waiting in the wings. They are pursued from a “if we build it, they will come” mindset. For more, read the full article.

Economic Development, Financial Incentives, Project Finance, State Updates

OSU Extension specialists explain solar farm leasing for landowners

What do farm landowners need to understand about the solar leasing process? As solar energy companies have “approached several landowners in Madison County” in recent months, asking to lease their land, Ohio State University Extension is hoping to help answer that question, Columbus Messenger reports. Lower solar construction costs and a change in solar energy policy is prompting investors to rush to get projects started; two solar farm projects in Madison County are currently in the pre-application process with the State of Ohio, according to the article. OSU Extension specialists recently hosted “Solar Leasing 101,” a discussion about the process of leasing land for solar projects and the resources available to landowners. For more information, landowners can visit farmoffice.osu.edu and read the full article.

Financial Incentives, Renewable Energy, State Updates

PACENation 2020 Annual Summit coming to Columbus

PACENation, a national trade association providing education, advocacy and resources for PACE financing, selected Columbus, Ohio, as the site of its 2020 Annual Summit, which will be held March 30-April 1. Bricker is on the Host Committee and is a conference sponsor, and we welcome our public sector, development and energy colleagues to attend. Registration is available online via the conference event page.  

Energy Efficiency, Financial Incentives, Renewable Energy, State Updates
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