Reminder: Grant money available from ODOD for Ohio small businesses hurt by pandemic: Small and medium-sized Ohio businesses hurt by the coronavirus pandemic are eligible for grants up to $30,000 under programs offered by ODOD and funded by federal aid (see link for Columbus Dispatch reporting: https://www.dispatch.com/story/business/2021/06/25/ohio-small-business-grants-available-applications-open-june-29/5344308001/). Programs will provide a total of $155 million to businesses that opened in 2020, lodging or entertainment venues, and food and beverage establishments, according to the article. Information on the grant programs is available at BusinessHelp.Ohio.Gov, and Ohio Small Business Development Centers and Ohio Minority Business Assistance Centers “have advisors who can help businesses with the application process.” The federal money is first allocated among the state’s 88 counties; any money not claimed within a county by July 31 will become available to businesses statewide.
Federal infrastructure plan signed on by 5 Republican & 5 Democratic Senators: When formal negotiations ended in June between the Biden Administration and the Senate Republican caucus on new federal infrastructure spending, an effort to get traction materialized among a small group of senators led by Sen. Kyrsten Sinema (D – Arizona) and Sen. Rob Portman (R – Ohio).
On June 24, a bipartisan group of 10 senators (5 Rep., 5 Dem.) announced with the President the arrival at an agreed-upon $1.2T plan, including $579B in new spending on roads and bridges, as well as $65B for broadband expansion. This package includes authorizing the issuance of direct-pay municipal bonds for infrastructure investment, and the Republican caucus’ favored expansion of public private partnerships.
In the late evening of Wednesday, June 30, Governor DeWine signed the budget bill into law. The final enacted version had elements of particular interest to economic developers.
Below you can find a synopsis of these changes from Bricker & Eckler. Please note OEDA will be hosting a complimentary webinar in partnership with Bricker & Eckler on the new budget and its impacts on economic development later this month.
The date will be finalized soon and a save the date notice sent out shortly. Be sure to check your e-mail and the website in the next few days so you don’t miss this important webinar.
Senate leader on how to use State’s $5.4B ARPA Allocation: Broadband & Brownfields: Not counting any American Rescue Plan Act funds to local governments, Ohio is expected to receive approximately $5.4B in federal COVID-19 relief stimulus funds. At the time of this writing, Ohio has received half ($2.7B) from the U.S. Treasury in the first tranche of funding; the funds must be committed by September 30. We expect these funds to be appropriated by the Ohio General Assembly in a stand-alone bill, outside the scope of the pending state operating budget (HB 110).
(Formal) bipartisan talks ended as of June 8 for federal infrastructure bill: President Biden cut off negotiations with lead Republican negotiator, Senator Shelley Moore Capito of West Virginia, via phone call on Tuesday, June 8. He made clear the gulf between the Senate Republicans and the Administration was too wide; the last counter-offer from Sen. Moore Capito was to add $50B to her last infrastructure spend amount.
The move to inject significant federal spending to the county’s network of roads, bridges, water pipes and other physical infrastructure now will proceed either (1) under the Senate’s budget reconciliation process to avoid the filibuster or (2) via a group of centrist senators who have been working separately on their own infrastructure plan. President Biden called the latter group individually and urged them to find a solution.