DevelopOhio Blog

New program will make $1 million in low-interest loans available for home energy efficiency upgrades

The Greater Cincinnati Energy Alliance, a nonprofit economic development agency, announced last week that homeowners working to make energy efficiency upgrades as part of its Home Performance with Energy Star Program will now have financing available for their projects through the agency's new Greater Cincinnati Home Energy Loan Program, Cincinnati Enquirer reports. The agency is putting $1 million into the program's fund, which will be used to provide low-interest loans that will enable homeowners to finance their home energy efficiency projects. The projects must, at a minimum, cause "a 15 percent reduction in their home's energy usage," the agency said on its website. For more, read the full Cincinnati Enquirer story and the full Greater Cincinnati Energy Alliance story.

Team Northeast Ohio report highlights region's economic growth

Regional economic development organization Team Northeast Ohio (Team NEO) released a report last week finding that during 2012, the 18-county Northeast Ohio region added 36,383 jobs, $1.7 billion in capital investment and $1.6 billion in payroll, The Vindicator reports. The report credited Ohio's shale boom with bringing more than $5 billion in pledged investments to the area and noted that the national shale boom is causing a resurgence in that region's manufacturing sector. The report also mentioned the state's healthcare/biotechnology sector as a source of “amazing” growth related to the commercialization of new products. For more, read the full article and report.

Venture capital firms look to Ohio to invest

As the Kasich administration works to attract capital investments in Ohio companies, Mark Kvamme, the former JobsOhio chief, co-founded the Columbus-based Drive Capital fund last year with plans to raise $300 million mainly for investments in Ohio and the Midwest, Cincinnati Enquirer reports. Meanwhile, Dan Gilbert, general partner in Detroit Venture Partners – "a venture capital firm that backs seed and early stage companies" – launched a tech-based accelerator in Detroit and Cleveland known as Bizdom that "gives portfolios $25,000 in seed funding." The firm is considering creating a third accelerator in Cincinnati, the article said. For more, read the full story.

National survey finds Ohio to have the most-improved business climate

Chief Executive magazine's annual survey found that Ohio has the most-improved business climate of any state, jumping 13 spots from 35th to 22nd, The Plain Dealer reports. State officials welcome this heightened appreciation of Ohio, as gleaned from the 700 chief executive respondents, but insist that more work must be done to get the state into the top 10. For more, read the full story.

Bricker & Eckler attorney Caleb Bell explains PACE financing at recent NAIOP chapter event

Bricker & Eckler associate Caleb Bell recently served as a panelist at the Central Ohio NAIOP's Six Pack for Lunch event that took place on March 20, 2013, at the firm's main office in Columbus. A member of the firm's Public Finance group, Caleb explained the meaning and uses of Property Assessed Clean Energy (PACE) financing, which is a unique option for financing energy efficiency and alternative energy projects. Bricker & Eckler is Ohio's leader in PACE law. For more, watch the full video.