Ohio Offers Opportunities for Investors and Communities
Ohio Development Services Agency
Communities across Ohio are realizing their possibilities for growth because of the investments Ohio is undertaking. Ohio has 320 Qualified Opportunity Zones in 73 counties, and the Ohio Development Services Agency is working to help local communities make the most of the opportunities.
“Ohio communities are competing with communities across the country for the same investment dollars,” said Lydia Mihalik, director of economic development for the state. “Development will provide the tools that give Ohio communities the edge to create maximum economic impact.”
Governor Mike DeWine upped the ante to lure investors to the Ohio Opportunity Zones. Nationwide, the zones are eligible for federal incentives through the 2017 tax reform legislation. Governor DeWine has proposed adding a 10 percent tax credit to Qualified Opportunity Zone investments.
Now, Development is working with local communities and investors to make the most of the state and federal incentives. In April, Development formally launched its initiative with an Opportunity Zones Showcase that brought hundreds of people to Columbus to learn more. At the event, Lt. Governor Jon Husted unveiled a website – opportunityzones.ohio.gov – that allows communities to pitch their potential to investors in one place. It also allows investors to go to one site to view all of the opportunities Ohio has to offer. These are among the reasons Ohio is setting itself apart from other states in the race for Opportunity Zone investments.
The efforts already are paying dividends in communities across the state. In Cleveland, for instance, the Ohio City neighborhood is attracting investors for projects around the West Side Market. It’s bringing in new housing, new business and one of the largest mass timber projects in the country. See more about the project here by clicking on the video link below.
Local economic development officials can market their Opportunity Zones by visiting opportunityzones.ohio.gov and entering information about their investment and development opportunities.
Having already established a reputation for itself in Seneca County, Saull Law & Title, a full-service law firm with headquarters in Upper Sandusky, recently signed a contract to purchase the former Your Legacy Credit Union building in downtown Tiffin, 170 S. Washington St, and a branch will open soon.read more
In response to the COVID-19 pandemic, state and local government issuers of securities, and others generally obligated to support the payment of such securities, who entered into continuing disclosure undertakings or agreements (CDAs) in accordance with Securities and Exchange Commission (SEC) Rule 15c2-12, may have questions concerning their continuing disclosure responsibilities. The following information provides guidance with respect to some commonly asked questions many issuers and “obligated persons” currently face. (Note that its purpose is to provide information of a general nature on this topic and should not be construed as legal advice.)read more
We appreciate everything you and your teams have done to mobilize to keep Ohio and its businesses going during this unprecedented pandemic.
Although some numbers may be sobering, there are opportunities for Ohio that spark optimism. Under the leadership of the DeWine/Husted Administration, Ohio has been recognized as one of the top states to respond to COVID-19. We can leverage that attention to make Ohio stronger, built on the foundation of what already makes Ohio great.read more