State Accepting All Ohio Future Fund Proposals
COLUMBUS, Ohio – A state program has $750 million available to assist communities with infrastructure costs to create project-ready economic development sites.
Applicants can now submit site proposals for funding as part of the All Ohio Future Fund. The program is designed to attract future economic development projects in Ohio by increasing the number of project-ready sites in the state.
“To build and maintain a thriving Ohio, we are starting with significant investments in our communities,” Gov. Mike DeWine said. “By increasing our inventory of project-ready sites across the state, we’re laying the foundation for widespread, sustainable development that will be felt by everyone who calls Ohio home.”
The program is available to local government entities, including counties, cities, villages, townships, port authorities, community improvement corporations, transportation improvement districts, land banks, nonprofit organizations and for-profit organizations willing to develop project-ready sites.
Awardees will be expected to find site occupants within five years.
Eligible costs include:
- Public roadwork.
- Water and wastewater infrastructure.
- Design and engineering.
- Demolition.
- Wetland mitigation.
- Utility gap funding.
- Other one-time site enhancements.
Funding will primarily come in the form of zero percent interest, partially forgivable loans.
“Some of the world’s most innovative companies have left the Silicon Valley to build a new legacy right here in the Silicon Heartland, and we want to ensure every community has an opportunity to capitalize on this momentum,” said Lydia Mihalik, director of the Ohio Department of Development.
The department is administering the program in coordination with the Office of Budget and Management.
Applicants can submit their proposals via email to [email protected]. Interested applicants should submit a site development proposal, or Indication of Interest (IOI), that addresses the questions and materials as presented in the IOI checklist, narrative form and data form, available on the program website. Proposals will be received and awarded on a rolling basis until funding is depleted.
Pictured at top: Photo via Ohio Department of Development.
Published by The Business Journal, Youngstown, Ohio.
