Nearly 85 percent of companies that received economic development packages from the state met their promises on job creation and other items, but Ohio is moving to grab back $776,000 in incentive money from businesses that didn't hit their targets.

The U.S. Treasury tax credits will help spur investment and economic development in low-income areas. $45 million will go to the Port of Cleveland's Investment Fund while $60 million will go to Cleveland Development Advisors.

Representing the state's 30 biggest cities, including Columbus, Dublin and Grove City, the new Ohio Mayor's Alliance wants to focus on the importance of urban centers, where 84 percent of Ohio jobs originate.

A legislative effort to use property tax breaks to launch more economic development across the state is facing a wave of criticism from local officials who are on the ground trying to make development happen.

The strategy that The Ohio State University has used for issuing municipal bonds has been named the Midwest Deal of the Year by Bond Buyer. It is the second time in five years that the publication has recognized the university.

The five-year loan will assist Cormony Development with the construction of 90 market-rate apartments on more than three acres along Market Avenue S, the apartments should be complete by late 2017 with construction estimated to cost about $30 million

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