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Archive
Ohio Named Among Best States for Business
Ohio is increasingly becoming one of the best states for business. The State ranked 25th in Nation for overall business climate as per the "Pollina Top 10 Pro-Business States for 2010," report.
In its seventh year, the study ranks Ohio in the top 25 for the very first time. The only other bordering state in the top 25 is Indiana, which ranked 23rd.
Moreover, the report ranks Ohio 8th in the nation for 15 factors related to the state economic development efforts and the quality of Ohio's business incentives.
Ohio ranks amongst top 5 States for solar module output, installation
October 13, 2010
Ohio ranked amongst the top five States for solar module production and installation. In a recently released report, the Solar Energy Industries Association said that Ohio ranked fifth in the nation for solar power installations during the first half of 2010.
Ohio installed 16.5 megawatts of solar systems in the first half of 2010, which provided solar power for 5 % of the U.S. market during that period.
Amongst the other top States for solar installation during the first six months of the year are California, New Jersey, Arizona, and Florida. On the other hand, for solar module production during the first half of the year, Ohio was placed in the second position in the nation.
The main booster for Ohio's production ranking was projects received from First Solar Inc., Toledo.
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Ohio Third Frontier, and its Supporting Programs receives Top Tech Awards
October 26, 2010
The State of Ohio and the Ohio Third Frontier program is always looked at as the model for success in creating, growing and sustaining high-tech jobs, industries and businesses across the nation.
Looking at its contributions and achievements, the International Economic Development Council (IEDC) has awarded Ohio Third Frontier the "Excellence in Economic Development Award". This award has been conferred for Ohio's National Model for Technology-Based Economic Development in the category of Technology-Based Economic Development for communities with populations of greater than 500,000.
IEDC is one of the nation's leading organizations focused on economic development activity.
Columbus named hub for advanced manufacturing
Central Ohio was named as a State hub for advanced energy manufacturing and storage, a designation that could mean thousands of dollars in grants for area companies and a higher economic development profile for the region.
Hubs are designed to help regions attract businesses, investments and workers and have their roots in an area’s strengths. As one of seven hubs statewide, Central Ohio is receiving US$ 250,000 in funding from a state Department of Development contingency fund.
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Lio Energy Systems’ facility at Columbus receive incentive
October 27, 2010
An incentive of over US$ 15.9 million from the Ohio Tax Credit Authority has been conferred to Lio Energy Systems, a joint venture of Santa Monica, California’s CODA Automotive Inc. and China’s Lishen Power Battery. The company will receive the funds in the form of a 15-year, 75 % Job Creation Tax Credit.
CODA is planning to build a plant in Columbus, Ohio, to make lithium ion batteries for plug-in electric cars, potentially creating up to 1,000 jobs. CODA has already received approval for a US$ 33 million incentive from the city of Columbus and a US$ 2 million Third Frontier grant. But the company is waiting to finalize the project until it receives a state incentive and a loan of up to US$ 500 million from the U.S. Department of Energy.
The total project cost is estimated at more than US$ 556.6 million. CODA would lease a facility of more than 750,000 square feet.
Ohio removes taxes on Renewable Energy Projects
October 4, 2010
An executive order signed by the State of Ohio implements the elimination of Ohio’s tangible personal property tax and real property tax for advanced and renewable energy project facilities. This deal now makes it easier for energy companies to do business and create jobs in Ohio.
The plan to eliminate these taxes for energy projects is to make Ohio more competitive by lessening the tax burden for energy companies looking to locate and grow in Ohio and spur job creation.
The elimination will benefit projects that begin construction before January 1, 2012, to produce energy by 2013 and create Ohio jobs.
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Renewable Energy can bring more jobs to Ohio
October 21, 2010
According to a report by Blue-Green Alliance, renewable energy can provide, on an average, four to six times the number of jobs as equivalent investments in fossil fuels manufacturing, installations, operations, and maintenance are all accounted for.
At present, the U.S. demand for renewable energy technologies exceeds domestic manufacturing capability and a large amount of energy is imported from European and Chinese manufacturers to meet the demand.
So, by offering total commitment to renewable energy, Ohio can bring jobs back to the State.
Ferco Tech to add 20 jobs with expansion
October 4, 2010
An aerospace company named Ferco Tech from the city of Franklin, Ohio is expected to add 20 jobs after receiving a five-year state tax credit for an expansion of its plant. The company would receive a 45 % tax credit from the Ohio Department of Development, estimated at US$ 51,389.
The credit will allow the company to start a US$ 400,000 expansion project that will create 20 new jobs and retain more than 100 jobs at the plant located at 291 Conover Drive.
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Business lending for Small businesses to speed up now through a new program
October 11, 2010
Small businesses in Ohio can now apply for loans from multiple lenders at the same time through a new program called the Ohio Business Lending Clearinghouse. The free online initial application process that was launched statewide is initiated with the help of the Ohio Department of Development, the state treasurer, the state's Small Business Assistance Centers and financial institutions.
Businesses seeking loans can begin by going to www.ohioblc.com and answering a few questions. Then, participating lenders can evaluate the query and contact the business to discuss a possible loan. In case, the business doesn't qualify, it gets referred to one of the state's small-business assistance centers for support.
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New JumpStart Entrepreneurial Network and Website introduced for Entrepreneurs
October 26, 2010
Northeast Ohio entrepreneurs have introduced the new JumpStart Entrepreneurial Network and its website. As a step towards helping entrepreneurs grow their companies more quickly, the Ohio Third Frontier - funded network of entrepreneurial support organizations are working together to provide entrepreneurs with the right resources at the right time.
The newly-launched website (www.jumpstartnetwork.org) will inform the entrepreneurs about and engage with the resources available in the network. Over the past three years, Network members have independently provided services to 7,640 entrepreneurs.
With closer collaboration and a single point of entry, the Network members plan to generate an even greater impact.
Koneta Inc. plans expansion
October 26, 2010
The Wapakoneta, Ohio based company, Koneta Inc., will receive a US$ 125,000 state grant for buying machinery and equipment for manufacturing expansion and renovation at its Wapakoneta plant.
The grant will go towards the company’s US$ 1.55 million project, which will help create 83 jobs and retain 139 at the plant.
Koneta Inc. makes rubber and plastic products, using new and recycled materials. The grant was one amongst 14 approved by the State Controlling Board. The grant is projected to create 1,089 jobs across Ohio and help retain 3,651 current positions.
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i) Solar energy
Solar panels installed in north Toledo will start generating electricity by January next year
October 27, 2010
The officials from Ohio Department of Transportation and the University of Toledo confirmed that two experimental solar-panel arrays that were being installed near an I-280 interchange in North Toledo is expected to begin generating electricity soon.
With a federal grant of US$ 1.5 million in hand, the state contractors are putting up solar arrays from two Toledo-area manufacturers, First Solar, Inc. and Xunlight, Inc., to compare how effective and durable they are in a highway environment.
As per the estimates of the transportation department, the arrays will generate about 131,000 kilowatt hours annually. Electricity from the arrays will be fed into the local power grid by day, and ODOT will be credited for that amount against the power the bridge consumes at night.
Huge solar plant is soon going to be part of Ohio
October 6, 2010
AEP Ohio, a unit of American Electric Power, announced that it signed a memorandum of understanding (MOU) to negotiate a 20-year, power purchase agreement (PPA) for the energy generated from a 49.9 MW solar energy project with Turning Point Solar LLC, a joint venture of Agile Energy Inc. and New Harvest Power.
Along with the partnership with U.S. solar developers, AEP has also partnered with two Spanish companies to build a 500-acre solar array on land in southeast Ohio that was once a coal strip mine.
This new venture is expecting to create 300 permanent Green manufacturing jobs and 300 construction jobs. New Harvest Ventures and Agile Energy will develop the 49.9 megawatt project, and American Electric Power has agreed to negotiate a deal to buy the power produced by the plant for the next 20 years. It is expected that this power would light up over 25,000 homes.
Two Spanish companies, namely, Prius Energy S.L. and Isofoton, have committed to build factories in Ohio to help create the 239,400-panel solar array. The US$ 250 million facility will reach full capacity in 2014.
ii) Green energy
ODOD to offer green-energy job training funds
October 12, 2010
As per an official statement, the Ohio Department of Development (ODOD) is offering funds to reimburse companies that are training workers for jobs in the renewable-energy field.
The Workforce and Talent Division of the ODOD is accepting proposals from various companies for federal economic-stimulus funds.
These funds are offered through the ‘Energizing Careers Program’, which allows reimbursement for training costs of up to US$ 6,000 for full-time employees.
The program is giving preference to companies that are located in 44 Ohio counties.
iii) Advanced Energy
Ohio Third Frontier carries the Advanced Energy Business pipeline
October 11, 2010
The month of October saw the State of Ohio recognizing its achievements in advanced energy sector in the form of events that took place within the advanced energy industry.
This has led the advanced energy industry leaders to recognize the investment made by Ohio Third Frontier and its impact on developing the State's thriving advanced energy industry cluster.
Some of the activities surrounding advanced energy included the announcement of a new solar farm located at The Wilds conservation center, and an event held in Toledo recognizing Ohio's Energizing Careers Program award recipients.
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