Bricker & Eckler to present webinar on solar development in Ohio: Where We've Been and Where We're Going

Bricker & Eckler energy attorneys Kara Herrnstein, Karia Ruffin and Dylan Borchers will present a webinar, Tuesday, January 25, 2022, at 10:00 a.m. EST, to recap an active 2021 year for solar development in Ohio and look ahead to potential development trends and issues in 2022. Topics covered will include a survey of projects at the Ohio Power Siting Board, implementation of Senate Bill 52, administrative rulemakings, battery storage development in Ohio, PILOT program updates and more. Register here >>

Economic Development, Energy Efficiency, Financial Incentives, Renewable Energy, Solar, State Updates

OSU Innovation District scores largest-ever Columbus jobs incentive at $47 million

The Ohio State University “has landed the largest economic incentive in Columbus history — projected at $47 million over the next 25 years — for the 12,000 high-paying jobs expected in its west campus Innovation District,” Columbus Business First reports in a December 13, 2021 article. The university and its partners are “investing up to $4 billion to redevelop some 270 acres” into a mixed-use development “focused on interdisciplinary research to speed advances in fields including advanced energy, cancer treatment and substance abuse treatment and prevention,” according to the article. In a December 15, 2021 article, Columbus Business First reports the “promise of attracting Fortune 500 companies” in a “truly transformative project” qualified the project for the 40% incentive payment on income tax withholding for the jobs expected to generate nearly $1 billion in payroll. City tax collections will increase by $70.5 million over the deal’s lifetime. For more, read the December 13 and December 15 Columbus Business First articles. 

Economic Development, Financial Incentives, State Updates

SK Food Group chooses Columbus after nationwide search for new facility

Columbus beat out cities including Phoenix, Arizona and Reno, Nevada for SK Food Group’s next facility location that will bring 305 jobs to the area, Columbus Business First reports. SK Food Group “produces sandwiches, wraps, protein snacks, flatbreads, burgers and more” in its eight locations across North America, according to the article. The company will lease a 144,000-square-foot facility in Columbus, “in addition to retaining its existing manufacturing plant in Groveport,” which has about 600 employees with $25 million in payroll. Dan Barton, chief operating officer for SK Food Group, said the talent pipeline in Columbus was a key reason to locate here. Columbus City Council approved “a five-year incentive of 30%, or 35% for in-Columbus hires,” which will save the company $465,000 to $542,000 “if it creates all 305 pledged jobs,” and will “net the city more than $1 million in new income tax.” For more, read the full article.

Economic Development, Financial Incentives, State Updates

Dayton Arcade developer plans to invest $124M for next phases

The next phases of the “massive Dayton Arcade complex” will represent an investment of more than $124 million, and its developers are seeking funding including state and federal historic tax credits, property assessed clean energy (PACE) financing, and the new transformational mixed-use development tax credit, among others, the Dayton Business Journal reports. The Arcade is “a university-anchored, mixed-use innovation district that aims to catalyze the $1 billion redevelopment of two million square feet of vacant and underutilized buildings,” according to the article. The project is expected to create 200 new businesses and “2,500 new jobs that have average salaries between $50,000 and $75,000.” Plans include retail and office space, housing, a shared-use commercial kitchen, a hotel, and Arts Underground, which “aims to include a dynamic mix of arts, theater and food entrepreneurs.” For more, read the full article

Economic Development, Financial Incentives, Project Finance, State Updates

ODOD releases rules and program guidelines for Brownfield Remediation Program and Building Demolition and Site Revitalization Program

The Ohio Department of Development (ODOD) released rules and associated program guideline documents (Brownfield Remediation and Building Demolition and Site Revitalization) to govern the disbursement of $500 million in total grant funds for distressed properties in Ohio. Governor DeWine’s signature of H.B. 110 on June 30, 2021, set in motion the creation of two massive funding sources that are now available to community and economic development stakeholders: Brownfield Remediation Program (see R.C. 122.6511) and Building Demolition and Site Revitalization Program (see R.C. 122.6512). Each of these programs will be administered by the ODOD pursuant to its newly-promulgated rules and the associated program guideline documents. The rules were emergency filed and are effective as of December 7, 2021, and are currently set to expire on April 7, 2022. ODOD is expected to initiate a formal rulemaking process for the rules between now and April 7, 2022, which will include the opportunity for public notice and comment. For more, read the full article.

Economic Development, Environmental, Financial Incentives, State Updates

Orange extends Pinecrest TIF an additional 30 years

Orange Village Council has “taken advantage of a one-year window to extend the village’s tax increment financing (TIF) agreement for Pinecrest — in a modified version — for an additional 30 years,” reports. The council passed “an ordinance to amend legislation” extending the term of the TIF, with the modification that the Orange City School District will receive 100% of the real estate taxes due to it from the TIF district during the extension, according to the article. Currently, the district receives 75% of those taxes. Because Orange has received more than $1.5 million in TIF revenue, “it is eligible — for this year only — to extend the TIF for another 30 years via a special legislative action by the state.” Mayor Kathy U. Mulcahy said the TIF diverts funds from the village’s and the county’s portion of real estate taxes “into a restricted infrastructure account” that must be used for public improvements. For more, read the full article.

Economic Development, Financial Incentives, Project Finance, State Updates

Upstart Holdings adding 508 jobs to Columbus staff

The HQ2 of newly public financial technology company Upstart Holdings is “doubling staff to more than 1,000 and leasing an entire office building at Easton,” Columbus Business First reports. Upstart’s Columbus office has already “topped 500 jobs and surpassed its Silicon Valley counterpart” this year, according to the article. The Ohio Tax Credit Authority “added four years and the additional 508 jobs to a payroll tax incentive it had approved in February 2019”; the 10-year agreement was extended by a year last December after Upstart met its goal of 500 jobs two years ahead of schedule. For more, read the full article

Economic Development, Financial Incentives, State Updates

City of Columbus came out ahead on tax incentive deals in 2020 despite missed goals

Companies that received tax abatement incentives from the City of Columbus did not collectively meet new job creation goals in 2020, but “[t]he city still came out ahead” because payroll for the jobs created “was far greater than estimated,” reports. This year’s Tax Incentive Review Council report that was sent to City Council showed employers “reported 8,800 jobs that pre-dated their incentives or were moved” to new sites, more than the promised 8,000, according to the article. Some companies exceeded their incentive agreement job creation goals: UPS created 417 jobs, far above its promise of 25; NetJets pledged 19 jobs and created 173; and Rogue Fitness added 805 jobs on a commitment of 90. For more, read the full article

Economic Development, Financial Incentives, State Updates

Four projects win $4M in JobsOhio Vibrant Community grants

JobsOhio recently announced four Ohio cities “will receive assistance through the Vibrant Community Grant Program to revitalize downtowns and main streets through targeted investments across Ohio,” PR Newswire reports. The cities of Van Wert, Sandusky, Coshocton and Painesville will receive competitive grants of “up to $2 million per project that will effectively close the gap on development projects” that are expected to create and retain over 100 jobs in total, according to the article. The projects include Van Wert Forward, a $75 million project to redevelop approximately 48 buildings; The Coshocton Collaborative, a renovation of a three-story vacant downtown building to serve as an incubator, co-working and maker space; Victoria Place in Painesville, the renovation of a mixed-use downtown building including office and residential space; and the Hogrefe-Cooke Building in Sandusky (see our August 27, 2021 blog post), construction of a new mixed-use building that will include retail, office and residential space. For more, read the full article

Economic Development, Financial Incentives, State Updates

Hogrefe Building awarded $1M state grant for $8.8M restoration

JobsOhio recently announced the Hogrefe Building redevelopment project in downtown Sandusky was awarded a $1 million Vibrant Community grant for construction-related expenses, the Sandusky Register reports. Only four of the 40 entities that applied for funding were awarded grants in this round, according to the article. Property owners Rick and Meghan Hogrefe have pledged to provide more than $7 million for the project, and Sandusky has approved a tax increment financing (TIF) agreement to provide public support for the mixed-use development (see our July 21, 2021 blog post). For more, read the full article.

Economic Development, Financial Incentives, State Updates
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10