New look. New energy. New ways to get involved.
The Ohio Economic Development Association is more than just a new website. There’s a new energy at OEDA, reflecting those we serve. As the professional association for economic developers, our new brand reflects our members– dynamic, on-the-move, decisive, knowledgeable, informed, engaging. The Ohio Economic Development Association is committed to helping our members expand their knowledge, expand their network and expand their influence. So, come join us as we work to expand your opportunities.
The Ohio Economic Development Association is committed to providing Ohio’s economic development community with resources to help practitioners best serve their business community during the COVID-19 outbreak. We believe one of the most helpful roles OEDA can play is curator; sifting through and summarizing the vast amount of information so you can focus on what you need as professionals.
New look. New energy. New ways to get involved.
THE STATEWIDE AUTHORITY ON ECONOMIC DEVELOPMENT ISSUES
MEMBERS
COUNTIES
Keeping Ohio Ahead, Submitting for Governor’s Cup on a Quarterly Basis
Participation in Site Selection’s Governor’s Cup is an important opportunity to showcase your communities and how you’ve made an impact by nominating the economic development project wins.
read moreHold the Date: July 26th – Community Rooted Economic Inclusion Playbook Webinar
The Ohio Economic Development Association is sponsoring a complimentary webinar on bringing equity and diversity to neighborhoods on July 26, 2021, 3 to 4:30pm. Sponsored in collaboration with the International Economic Development Council and the Brookings Institute, the Community-rooted Economic Inclusion Strategic Action Playbook argues that now is the time for community, city, and regional leaders to advance bold place-based solutions that foster long-overdue investment and opportunity within disinvested communities—and to do so in a way that benefits existing residents and small businesses within these communities.
read moreSubstantial Transportation Funding Opportunities Blossoming
While this May has been cold, transportation funding opportunities are starting to heat up. The month of May brings with it funding opportunities for Ohio’s Transportation Improvement Districts (TIDs). Ohio has 51 TIDs covering large areas of the state. These intergovernmental agencies are designed to foster planning and cooperation among different counties and local governments to plan for regional transportation priorities. TIDs have local, state and federal transportation funding sources upon which they can access.
read moreTracked House Bills – May 2021
State News:
State Controlling Board creates new fund accounts to accept federal stimulus: On April 19, the Controlling Board approved Ohio OBM’s request for three new funds to accept the American Rescue Plan Act’s state and local government stimulus payments:
• State Fiscal Recovery Fund (5CV3) – To accept funds allocated to the state of Ohio from the State Fiscal Recovery Fund from the American Rescue Plan Act. Ohio is estimated to receive approximately $5.5B from the U.S. Treasury to be used for costs incurred through December 31, 2024. Payments are to be made to the State from the U.S. Treasury within 60 days of certification of need by Governor DeWine.
• Local Fiscal Recovery Fund (5CV4) – To accept funds allocated through the State of Ohio from the American Rescue Plan Act to non-entitlement units of local government. Ohio local governments are estimated to receive $815MM in funds to be distributed within 30 days of receiving the funds to the local governments. Counties and metro cities will receive Local Fiscal Recovery Fund allocations directly from U.S. Treasury and will not pass through the Ohio OBM.
• Coronavirus Capital Projects Fund (5CV5) – To accept funds allocated to the State of Ohio from the Coronavirus Capital Projects Fund from the American Rescue Plan Act. Ohio is estimated to receive $274MM to carry out critical capital projects directly enabling work, education, and health monitoring, including remote options, in response to the public health emergency. The U.S. Treasury is required to establish the application process for the funds no later than 60 days after the legislation’s enactment.
Tracked Senate Bills – May 2021
Federal News:
Searching for the signal within the white noise of economic data: The change in the Consumer Price Index (CPI) in April unexpectedly jumped 4.2% year-to-year, its fastest pace of change since 2008. On a monthly change basis, inflation rose by 0.8%. The Federal Reserve Board, which has vowed action to keep inflation under control, was “surprised” by this recorded change in prices.
The Fed and the Biden Administration’s economic advisors note that short-term inflation is to be expected as the economy awakens after a pandemic (which it has never done before). Unlike previous eras of big government spending, the Fed now operates under a new mindset: accommodating a certain amount of short-term inflation, intervening to raise interest rates only if (1) inflation rises by 2% on a sustained basis over time, and (2) the economy reaches full employment (i.e., < 5% unemployment).
read moreTracked House Bills – April 2021
State News:
Ohio’s $162.57B biennial operating budget proceeds through the General Assembly: On April 13, the House Finance Committee accepted a substitute version of HB 110, which was introduced with Governor DeWine’s proposed two-year budget. The House has made many changes, including a decades’ long legislative fix to Ohio’s K-12 school funding. The budget is further described in the legislative updates, below.
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