JobsOhio has recently launched new programs aimed at investing in distressed communities – many of which are classified as Ohio’s small and mid-sized legacy cities and are part of GOPC’s Reinvention Cities Network. These new programs fall under JobsOhio’s Inclusion Strategy and Vibrant Community Program. A full listing of targeted communities can be found below, provided on JobsOhio’s graphic.
Within the Inclusion Strategy and Vibrant Community Program, there are three new avenues for investing in Ohio’s small and mid-sized distressed communities: Vibrant Community Program, Inclusive Project Planning Program, and the JobsOhio Inclusion Grant. Details for each are below, with direct links to JobsOhio’s website.
Vibrant Community Program: The Vibrant Community Program recognizes that distressed communities may not have adequate resources to develop and implement economic development projects that can attract private investment and create new jobs in the community.
This program will offer competitive grants up to $2M for development projects that assist in a catalytic transformation in areas within distressed communities. Eligible projects include real estate development and operation of shared spaces, such as incubators and shared work spaces. Mixed-use projects are eligible, with higher preference given to projects that have a job creation/retention component.
Applications for the first round of funding will begin at the end of September. This program will be funded annually.
Inclusive Project Planning Program: This program offers targeted technical assistance to address gaps in capacity and expertise. JobsOhio has identified 98 cities with populations between 5,000 and 75,000 that are eligible for this program. These communities have poverty rates at or above the state’s average poverty rate.
Grants will be awarded on a rolling basis, and eligible applicants include the public sector agency responsible for planning function in the community. Awards will be up to $20,000.
JobsOhio Inclusion Grants: The JobsOhio Inclusion Grant will provide financial support for eligible projects in designated distressed communities and/or to businesses owned by underrepresented populations across the state. Eligible projects must fall within JobsOhio’s targeted industries, and the JobsOhio Inclusion Grant targets fixed asset investment in machinery and equipment, real estate investments including redevelopment, and training costs.
The distressed communities identified by JobsOhio include many of Ohio’s Small and Mid-Sized Legacy Cities. This full listing is included within each of these full descriptions, and a graphic is posted below.
GOPC is excited for the launch of these new programs – as this provides another tool for investing in Ohio’s legacy cities! Investment in these communities, especially weaker-market legacy cities, is a crucial component to the state’s prosperity – now, more than ever, as community leaders are hard at work to ensure the safety of their residents and expand economic development through downtown revitalization and job growth.
Source: JobsOhio