Ohio awards $225 million taxpayer funds for economic development projects

State officials announced that four properties will receive more than $225 million in taxpayer handouts to help prepare them for future economic development.

The Ohio Controlling Board approved the distribution of tax dollars from the All Ohio Future Fund, which state officials established in the state’s fiscal 2024-25 state operating budget.

The All Ohio Future Fund, administered by the Ohio Department of Development, represented a $750 million investment with the stated aim to help communities achieve site readiness and prepare to attract economic development projects.

However, such programs have encountered headwinds in Ohio’s neighbor to the north. For example, a similar project intended to attract a semiconductor chip factory in Mundy Township near Flint, Mich., suffered a significant setback last week after the state spent nearly $260 million to tear down homes and relocate an elementary school before a tenant had committed to the area. Eventually, SanDisk announced its intention to build on the acreage, but announced last week that it was abandoning the project.

“When major corporations are looking for somewhere to build, they want sites that are prepped and ready for construction,” Republican Gov. Mike DeWine said in a release. “By investing to build infrastructure at the Conesville, Lorain, Dayton, and Frazeysburg sites, we’re making Ohio more competitive and positioning those regions to attract projects that create good-paying jobs and boost the state’s economy.”

The four sites included in the latest tranche of funding announced this week are located in Coshocton, Lorain, Montgomery, and Muskingum counties.

As part of the latest round of tax dollar allocations, the state awarded more than $78.7 million to the Dayton International Airport. The money is expected to fund Dayton Airport Defense and Aerospace Campus improvements, including the construction of a new apron and the rehabilitation of the current apron to increase the available space for new hangars at the airport.

Another $67.4 million will be allocated to the Lorain County Board of Commissioners for improvements to infrastructure at a local mega site. According to a release, the funding is expected to increase water capacity to provide up to 10 million gallons daily, enhance wastewater services, and support the design and engineering of a new wastewater treatment plant.

The state also announced more than $58.7 million for the Coshocton County Port Authority for the Conesville Industrial Park project. Officials said the money will cover the costs of improvements to roads, utilities, and water and wastewater systems.

Another $20.7 million was awarded to the Zanesville-Muskingum Port Authority, which should allow it to offer water and sanitary services to 600 acres in the Frazeysburg development area in Jackson Township. The tax dollars should support public water and wastewater infrastructure at the site, including water and wastewater treatment plants.

Ohio officials said that a total of 11 sites have received nearly $350 million from the All Ohio Future Fund. Projects that were previously awarded money are located in Defiance, Gallia, Guernsey, Muskingum, Pickaway, and Trumbull counties.