JobsOhio Revitalization Program Helps Breathe Life into Underutilized
Sites
Most communities have them. Prime locations for commercial or industrial
development that sit idle, waiting for someone to redevelop them.
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This 60-acre industrial site in Rittman, Ohio, is now ready for new business development thanks, in part, to a grant from the JobsOhio Revitalization Program. (Photo: Business Wire)
These underutilized properties, both land and buildings, sometimes
remain unoccupied for years because the cost to remediate and redevelop
them often exceeds their post-development market value, scaring away
potential investors.
Thankfully, help exists in Ohio to bridge that financial gap and help
create new jobs.
JobsOhio,
a private nonprofit corporation that drives capital investment and job
creation in Ohio, offers loans and grants through its revitalization
program to companies that want to revitalize old buildings and
brownfield sites. The loans and grants are available to projects that
retain or create jobs, have funding gaps and/or address environmental
risks. They can be used for a variety of purposes, including demolition,
building renovation, environmental remediation, removal of asbestos and
lead paint, and site preparation.
“This financial support we provide minimizes the risks for companies and
accelerates the speed at which they can put sites back into productive
use,” said Diana Rife, revitalization project manager at JobsOhio.
“Revitalization projects typically retain or create at least 20 jobs at
wages comparable with the local market. So it’s in everyone’s best
interest to bring these properties back to life.”
Companies are attracted to underutilized properties for different
reasons, according to Rife.
“These sites are usually prime locations for development because they’re
in desirable or easily accessible locations. They often have an
available workforce, and they usually have access to existing
infrastructure assets like electricity, water and natural gas,” she said.
Since its launch in 2014, the revitalization program has had a
significant impact on many communities across Ohio.
According to JobsOhio, it has invested $169 million in the program,
putting dozens of empty, dilapidated buildings, brownfield sites and
underutilized properties back into use, spurring $2 billion in capital
investment and creating more than 5,000 jobs. Some of the more recent
recipients of revitalization funds include:
-
Urban Renewables LLC, which prepared a large industrial site in
Rittman for development. The site had been idle since a large
paperboard mill closed in 2006.
-
MadTree
Brewing in Cincinnati, which turned a former paper plant into a
50,000-square-foot complex that features a brew house, laboratory,
taproom and beer garden.
-
ProMedica,
a nonprofit health care organization, which turned a century-old steam
plant into a state-of-the-art office along Toledo’s downtown
riverfront.
-
Amazon, which built a fulfillment and distribution center on the site
of a vacant shopping mall in northeastern Ohio. The North Randall
facility will employ more than 2,000 people.
“The revitalization program is all about attracting capital investment
and bringing jobs to Ohio communities,” Rife said. “It’s exciting to see
these buildings and properties become productive, job-creating sites
again.”
About JobsOhio
JobsOhio is a private nonprofit corporation designed to drive job
creation and new capital investment in Ohio through business attraction,
retention and expansion efforts. JobsOhio works with six regional
partners across Ohio: Appalachian
Partnership for Economic Growth, Columbus
2020, Dayton
Development Coalition, REDI
Cincinnati, Regional
Growth Partnership and Team
NEO. Learn more at www.jobs-ohio.com.
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