Recently enacted H.B. 110, the State of Ohio’s Budget Bill, has created a new grant program (O.R.C. 122.6511) to cover up to 75% of a project’s total cost to help remediate brownfields. The program, called the Brownfield Remediation Program,
Ohio Economic Justice & Social Impact Blog
News, Updates, and Analysis for Ohio’s Public and Private Owners and Developers
The Ohio Economic Justice & Social Impact Blog, published by Taft Stettinius & Hollister LLP, covers legal and policy developments related to economic justice and social impact within Ohio. Topics include state initiatives to support agriculture, healthcare, and higher education financing; legislative reforms affecting public investment and borrowing; workforce development partnerships; and community-focused economic development efforts. The blog also addresses regulatory updates on municipal bonds and private activity bonds, as well as local government transition planning and infrastructure projects with social and economic implications. It serves as a resource on how legal frameworks intersect with economic and social equity issues in Ohio.
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H.B. 110 (Budget Bill) Highlights: New Changes Affect Ability to Add and Exclude Land to and from JEDDs
H.B. 110 has made certain changes to Ohio’s Joint Economic Development District (JEDD) law pursuant to newly enacted R.C. 715.72(A)(10), (11); and (J)(2). The new provisions relate both to the creation of a new JEDD or amending an existing…
H.B. 110 (Budget Bill) Highlights: Changes in Law Pertaining to “Mega Projects.”
Newly enacted R.C. 122.17(A)(11) and (D)(2)(c) creates a new “megaproject” designation in the state’s Job Creation Tax Credit program. The new provisions allow a tax credit of up to 30 years for very large projects, defined as at least $1B…
H.B. 110 (Budget Bill) Highlights: Changes in Law Relating to Ohio Tax Credits and Income Tax Deductions for Economic Development Purposes
- H.B. 110 enacts new R.C. 122.17(C)(2) to establish a new rank-ordering of Job Retention Tax Credit application priorities (new R.C. 122.171(C)(2)).
- H.B. 110 makes a change to the State of Ohio’s Opportunity Zone tax credits (R.C. 122.84) to increase to
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H.B. 110 (Budget Bill) Highlights: Changes to Ohio Department of Development’s Rural Business Growth Program (R.C. 122.151)
H.B. 110 makes changes to the eligibility criteria and investment requirements to ODOD’s Rural Business Growth Program (R.C. 122.151) and requires new types of applications to be accepted by ODOD within 30 days of the budget bill’s effective date.
Port Authority’s National Road Business Park Honored as Best Site Development
The Zanesville-Muskingum County Port Authority’s new National Road Business Park recently received the prestigious “Best Site Development or Building Project award” from Ohio Southeast Economic Development. The Port Authority hopes that the park, which has up to ten sites…
Cleveland’s East Side awarded $35 Million HUD Choice Neighborhoods Implementation Grant
The U.S. Department of Housing and Urban Development announced that it is awarding a $35 million grant to the Cleveland Metropolitan Housing Authority (CMHA) and the City of Cleveland to rebuild an aging public housing complex in the Cleveland’s Buckeye-Woodhill…
Ohio Rural Development Loan Program Successfully Finances Two New Spec Industrial Buildings in Lawrence County
Rather than using the State of Ohio’s Chapter 166 Loan Program, the Lawrence Economic Development Corporation (LEDC) recently found that the newly refunded State of Ohio Rural Industrial Park Loan (RIPL) Program was a better fit to finance the construction…
Cuyahoga Metropolitan Housing Authority wins $5-million grant for mobility demonstration program bound to change lives
The U.S. Department of Housing and Urban Development (currently led by former Ohio 11th District Congresswoman Marcia Fudge) has selected Cuyahoga Metropolitan Housing Authority (CMHA) as one the lead public housing authorities (PHAs) to participate in a six-year demonstration project…
Blog Highlight – Federal Reserve Bank of Cleveland – Policy Summit 2021 Pathways to Economic Resilience in our Communities – June 23-25, 2021 virtual conference
This Federal Reserve Bank of Cleveland Policy Summit is a regional conference that explores solutions at the practitioner and policy levels to challenges that low- and moderate-income communities face. The biennial multi-day event offers its audience of researchers, academics, practitioners,…