OEDA’s Economic Development Tools Webinar Series, in partnership with Bricker & Eckler, will keep you up to date on the latest requirements and best practices in these programs. Ohio has some of the most effective programs that support economic and community development. But these programs are constantly changing and being refined to keep Ohio communities competitive.
In the current hot job market, talent with the right skills is hard to find. This is not news to any of us. This is what we are hearing from our community partners.
The problem is real. The demand is outpacing the talent supply in most areas, especially in technology, life sciences, and manufacturing. This creates competition for the 23,000 new candidates that Ohio universities graduate each year.
Newark’s Historic Downtown continues to embrace revitalization with the Historic Rehabilitation of the glass roofed Historic Arcade.
Over the past eight years, the private/public investment into Downtown Newark has grown to approximately $130,000,000. Highlights of various Historic building rehabs, streetscape, sewer/storm water separation project, Hilton Doubletree rehab and much more are included in the revitalization efforts. Now, with the help of over 35 donors, State & Federal Historic Tax Credits, Transformational Mixed-Use Development Tax Credits and other programs, Newark will undergo a $15,000,000 Historic Rehab of the Arcade.
The City of Strongsville was recently successful in securing $1.6 Million in support through the help of Congressman Anthony Gonzales and U.S. Senator Sherrod Brown in federal community project funding to upgrade and replace outdated stormwater infrastructure, which impacts homeowners, drivers, and businesses along Prospect Road.
The Newark Arcade Project, a Montrose Group client, was one of 13 projects awarded the highly competitive Ohio Transformational Mixed Used District (TMUD) tax credit by the Ohio Tax Credit Authority on March 2, 2022. The Ohio Tax Credit Authority approved these awards as part of the $100 million first round of the state’s new TMUD Program. The Ohio Department of Development reported there were $417 M worth of applications.