Ohio Governor Ted Strickland and Lt. Governor Lee Fisher rolled out another phase of Ohio’s Jobs Stimulus Package, announcing $100 million in funding for logistics and distribution projects and $400 million for local infrastructure repair. While these components were detailed in the enabling legislation, House Bill 554 from earlier this year, the Governor’s office and the Ohio Department of Development unveiled their new website to assist companies seeking money – www.JobStimulus.Ohio.gov.
The announcement came during an event at Hyperlogistics Group’s offices at the Rickenbacker Global Logistics Park located on the south side of Columbus. The $500 million total affects transportation, logistics and distribution projects that will assist economic development in Ohio’s growing logistics sector and is intended to, “create a seamless multimodal transportation infrastructure across the state, linking rails, roads, waterways and airports,” according to the Ohio Department of Development.
In the Notice of Funds Available letter posted on the Department of Development’s website, logistics and distribution project funds can be used for the “purchase of land or buildings, purchase of machinery and equipment, building construction and/or renovation costs, purchase of on-going business’ fixed assets and general construction costs.” Money will be distributed in the form of forgivable loans with varying rates depending on the project being funded, and the loans will be rewarded on a rolling basis starting immediately.
This announcement is the second in a line of stimulus package programs that include funding for historic preservation, public works, bioproducts and biomedical industry projects. The Ohio Air Quality Development Authority has already announced its plan for distributing $150 million to advanced energy projects, including clean coal.
Governor Strickland unveiled the $1.57 billion jobs stimulus package in June 2008. Details about the entire plan can be found in this Bricker & Eckler Green Strategies Client Bulletin at http://www.bricker.com/Publications/articles/1296.pdf.