Foreign trade zones, or FTZs, have long been an essential means for global companies to manage the costs of their imported and exported goods. Now, in the evolving global trade environment, savvy businesses are finding that FTZs provide the additional benefit of protection from the rising costs of tariffs.
In December 2019, the Ohio Development Services Agency (ODSA) implemented revisions to the Abandoned Gas Station Clean-up Grant Program. The goal of program is to identify and address abandoned gas stations at key locations (i.e., busy roadways and key intersections) that cannot be redeveloped due to the cost of cleanup. Maximum funding for a single eligible property is $100,000 for Property Assessment activities and $500,000 for Cleanup or Remediation activities, including asbestos abatement and structure demolition if needed. Proper use of the grant funds should enable a municipality or land bank to clean up old gas station sites in their community at little to no cost.
In March of 2020, a team of national community solar experts released a white paper report to help guide the creation of community solar programs that promote racial and economic equity. The report, Equitable Community Solar: Policy and Program Guidance for Community Solar Programs that Promote Racial and Economic Equity, projects the impacts of Cleveland Public Power instituting a hypothetical community solar program that would allow ratepayers to save money on their monthly bills by subscribing to a ‘solar garden.’ Subscribers reserve a share(s) in a solar array located off-site, and the power generated by their solar panels shows up as a credit on their bill. Profits also accrue to the owner of the solar panels.
While the United States remains a global economic powerhouse, not all regions of the United States are created equally from an economic development standpoint, and the South and Southwest will remain regional macroeconomic growth leaders this year based upon the analysis of the Montrose Group for what trends are apparent for corporate site location in 2020. Real Gross Domestic Product (GDP) increased in all 50 states and the District of Columbia in the second quarter of 2019, according to the U.S. Bureau of Economic Analysis. The % change in real GDP in the second quarter ranged from 4.7 % in Texas to 0.5 % in Hawaii.
Fremont, Ohio – Cutting Edge Manufacturing has announced an expansion into their new facility in Sandusky Township – Fremont, Ohio retaining 10 employees and creating 1 new full-time position. With over $400K in new capital expenditures, Cutting Edge Manufacturing purchased an existing building in Fremont, Ohio along with a new CNC machine in 2019. “With our team’s commitment to quality and customer satisfaction we have seen steady growth in revenue as well as new customers” stated Scott Lang, President of Cutting Edge Manufacturing. “Our team is very excited about the move to our new facility which gives us additional room for expansion and additional machinery which we will take advantage of immediately”.