Fintech71: Where Financial Leadership Meets Industry Innovation

Jan 23, 2018 | News, Newsletter

Ohio is a catalyst to never before seen industry collaboration

 

Andrew Deye
JobsOhio

 

 

The program received support from national, industry-leading financial institutions and insurance companies that got involved in the program through mentorship and other means. This includes leaders such as Huntington National Bank, KeyBank, Progressive Insurance, Grange Insurance, CardinalCommerce, Visa, Fifth Third Bank, Mastercard, PNC Bank, Nationwide Mutual Insurance Company, First Federal Lakewood and Safelite Group.

Eager to share expert insights and do business with fintech innovators, the industry leaders found the program just as rewarding as the cohort did. JobsOhio’s board of directors held its public meeting at Fintech71 on Dec. 18, 2017. The meeting included a presentation from Cheryl Lebens, Vice President, Chief Risk & Strategy Officer of Grange Insurance, and Adrian Becker, Director of Strategic Partnerships at Steady, about the power of collaboration between the traditional and startup companies.

Lebens emphasized that Grange Insurance’s involvement was one of the biggest shakers of the company’s year. Lebens also noted that Grange Insurance intends to innovate to help shape its future, choosing to disrupt itself rather than be disrupted.

Grange Insurance saw that Fintech71 was the right fit for a chance to evolve, strongly identifying with mutual interests in promoting Ohio and furthering financial services. The company hoped that its participation would grow jobs, build relationships and help gain insight around accelerators and startups. Lebens said the benefits of participating in Fintech71 exceeded expectations.

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Ohio Ports Eligible for $23 Million in Development Funding

A new program  — the Ohio Maritime Assistance Program program — is providing funding to ports along the Ohio River and Lake Erie or businesses within ports.

The Program began accepting applications from ports in late January and will continue through March 27. The program is making available $11 million through June 30 and an additional $12 million for the 12 months ending June 30, 2021.

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Large TIFs may be eligible for one-time extension opportunity

During fall 2019, the General Assembly changed Ohio law governing tax increment financing (“TIF”) exemptions in a big way.  For certain TIF projects, local communities can extend the exemptions – and therefore continue to redirect property tax millage to necessary public infrastructure improvements – up to 30 additional years. 

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