Ohio Offers Opportunities for Investors and Communities
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.
Local economic development officials can market their Opportunity Zones by visiting opportunityzones.ohio.gov and entering information about their investment and development opportunities.
PORT AUTHORITY TO RECEIVE $3.5 MILLION STATE GRANT One-Time Strategic Community Investment Fund Grant to Support Airport Infrastructure
(Wilmington, Ohio) The Clinton County Port Authority is one of several entities in the State of Ohio that will receive funding from a unique, one-time $700 million fund established by the Ohio General Assembly. The One-Time Strategic Community Investment Fund (OTSCIF)...
Ottawa County $1.5M to Expand Workforce Programs
Ottawa County Receives $1.5 million to Expand Workforce Programs This week, the Ohio State Senate appropriated $700 million in projects included in SB 288 that will fund initiatives across the state through this one-time Strategic Community Investments fund. One of...
OHIO-BASED OMNI SYSTEMS CONTINUES GROWTH WITH ACQUISITION OF WEST CHESTER MANUFACTURER
OHIO-BASED OMNI SYSTEMS CONTINUES GROWTH WITH ACQUISITION OF WEST CHESTER MANUFACTURER OMNI Systems, the largest privately-owned label printing company in the U.S., has joined the West Chester community with its acquisition of Honeywell International’s media...