Last week, JobsOhio released their 2020 Strategic Plan, which outlines the organization’s goals for the state’s economic development over the next few years. Included in this strategic plan is a new spec development program, which JobsOhio coins as the Ohio Site Inventory Program (OSIP). Though details of the program are still being finalized for OSIP, JobsOhio announced $50 million annually will be awarded in grants and loans through 2024, for a total of $250 million. These dollars will be for spec-based development opportunities, and do not require an end-user to be identified.
OSIP will award grant reimbursements to local governments, nonprofits, developers, port authorities, and businesses up to $2 million for site preparation, demolition, construction, infrastructure, and environmental cleanup. Applicants must have control of the site, have completed a Phase I environmental assessment, and be able to show a demonstrated demand for the future use of the site. Eligible sites will include both greenfields and brownfields. As the program stands, it is intended to fill the gap in the state’s inventory portfolio – though it will still seek to invest in sites that have a proven demand or economic benefit. Additionally, investments in sites through OSIP will be required to adhere to JobsOhio’s target industry when an end-use is identified.
Overall, the Ohio Sites Inventory Program is a step in the right direction – alleviating the burden of identifying an end-user prior to a site becoming spec-ready. It is unclear, however, if this will significantly target brownfields throughout the state in an effort to remediate and redevelop the thousands that are throughout the state. GOPC hopes that the guidelines for this program will also take into consideration the varying needs of Ohio’s communities – and aim its focus on communities that hold great potential, if only for an investment, such as Ohio’s smaller legacy cities.
Last week, JobsOhio unveiled their 2019 annual report and their 2020 strategic plan. Within this strategic plan, JobsOhio identifies site availability as essential for Ohio’s economic development. OSIP is a key pillar to JobsOhio’s strategy for adding upwards of 35 new authenticated sites in the next five years. Additionally, JobsOhio has identified establishing an inclusive economic development growth strategy for the varying needs of Ohio’s communities. JobsOhio has identified the need to work with distressed communities across the state to help communities leverage core strengths and assets in their economic development. This is in an effort to promote more equal growth across the state.
Recognizing this is one of many new strategies to be developed through JobsOhio’s 2020 strategic plan, the Ohio Sites Inventory Program has the potential to significantly impact Ohio’s communities – with guidelines to encourage the investment in Ohio’s small legacy cities and a targeted focus on tackling brownfields throughout the state.
To read more about JobsOhio’s 2020 Strategic Plan, please visit their website. As the OSIP is finalized, GOPC will provide updates.