Several large Cincinnati companies invest a second time in Port’s job-creating fund

Huntington National Bank, Duke Energy, Cincinnati Bell, GE Aviation, and Ohio National Life Insurance are among the companies that have agreed to contribute $9.25 million to a second round of funding for efforts to attract advanced manufacturing companies to the area after supporting the first round, the Cincinnati Business Courier reports. The funds support the Port of Greater Cincinnati Development Authority’s strategy to facilitate the creation of “thousands of advanced manufacturing jobs” by addressing a lack of available suitable properties; too often, when advanced manufacturers look at Cincinnati, there are not “sites that are large enough and ready for redevelopment,” according to the article. The Port can acquire vacant or underutilized industrial properties that are “too dilapidated for for-profit banks and developers to touch” because it “has the financial and legal tools to prepare them for reuse.” For more, read the full article.

Economic Development, State Updates