Proposed Ravenna-Rootstown JEDD could expand local development

The City of Ravenna and Rootstown Township “are looking to form a Joint Economic Development District [JEDD] that supporters say would raise money for the township and the district area while expanding development opportunities for the region,” the Record-Courier reports. Rootstown Township Trustee Dave McIntyre “said this proposal is unlike other JEDD agreements in the county because half of the proceeds would be earmarked specifically for improvements in the JEDD area,” according to the article. A board, including Ravenna and Rootstown residents and people who work within the JEDD area, “would make the final decisions about how those funds would be spent.” Ravenna would receive 10% of the proceeds for collecting the income tax, and the remaining 40% would go to the township. While “Ravenna’s share of the tax revenue would be minimal,” the city “would benefit from growth in the region, since city residents are likely to benefit from any growth that happens in Rootstown.” For more, read the full article.

Economic Development, State Updates