JobsOhio Revitalization Fund is Here!
The new JobsOhio Revitalization Fund is open for business. The shift
from brownfield funding through the Ohio Development Services Agency
(ODSA) to JobsOhio has taken some time, but the new process is
essentially in place. Although the program has shifted from a grant program to more of a loan program, and there must be firmer job creation/retention commitment, there are some nice advantages to the new program:
1. The grant/loan funds can be given directly to the private sector applicant,
a public entity is not required as the applicant.
2. The vetting process for commitment of funds is much quicker,
with no public comment period needed.
3. Open enrollment/application
– first come, first served.
4. New pot of money, up to $500,000 per project
, specifically for asbestos abatement, lead-based paint cleanup, and demolition
for rehabilitation and renovation of structures.
Probably the easiest route to the funds is pursuing a brownfield site close to your property, where you need to expand the business and create additional jobs. Another example is purchasing a building in need of asbestos abatement or demolition, and again, where you plan to add jobs.
For more information, please contact Tim Brown at (614) 794-3570, extension 29.