State of Ohio Seeking Input for Volume Cap Rule Changes
The Ohio Development Services Agency, Office of Energy and Redevelopment is currently working on rule changes for the Ohio Administrative Code (OAC) Sections 122-4-01 to 122-4-08. The Office welcomes input of the rules and changes that industry professionals deem necessary to the OAC rules. Attached please find the Word version of the OAC rules to incorporate your redline changes to the rules. The Office of Energy and Redevelopment will be accepting all input until Friday January 17, 2014. Contact Adam Burns at (614) 466-8463 or via email at Adam.Burns@development.ohio.gov.
Cincinnati Opts to Move Forward with Streetcar After All
Newly-elected city leaders voted to pause the project earlier this month, but they faced an ultimatum from the Federal Transit Administration: resume it by Dec. 19, or lose $45M in grant funding that the agency set aside to fund the project. Even worse, the city would have to pay back some of the money it had already spent.
AG Report Highlights Importance of Incentive Compliance
Capping a groundbreaking year for economic development incentive compliance in Ohio, the Ohio Attorney General's office released its 2013 report on incentives offered by the State of Ohio through the Ohio Development Services Agency. The report can be found in this newsletter's resource section.
Tax Credits to Bring $400M in Investment to Historic OH Sites
The Ohio Development Services Agency awarded $33 million in Ohio Historic Preservation Tax Credits to rehabilitate 31 historic buildings in 10 communities across the state. The projects are expected to leverage nearly $400 million in private investments.
Ohio, Michigan Working Together on Clean-energy Initiative
Unlike college football, manufacturing of energy-efficiency products seems to be bringing together Ohio and Michigan. The Michigan Economic Development Corp. said this week the energy offices in the two states are partners in a new $702,500 venture aimed at boosting growth in the clean-energy sector and promoting technologies that improve energy efficiency.
New Study Shows Tax Credits Key to Revitalization of Ohio's Downtowns and Main Street Districts
A new report released by the National Trust for Historic Preservation and Heritage Ohio announces that the federal historic tax credit has helped spur $958 million in historic rehabilitation work and created over 15,000 jobs in Ohio since 2007.
CiF Recognized as EB-5 Regional Center of the Year
Cleveland International Fund (CiF), has received a national award for its successful role in boosting the Northeast Ohio economy and providing qualified individuals with an expedited path to U.S. residency through the EB-5 program.
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