Fall 2011 ED/GE Funding Recommendations Announced

On Friday, December 9, 2011, the Montgomery County, Ohio Economic Development/Government Equity (ED/GE) Advisory Committee recommended funding three projects, totaling $425,000 from the County’s 2011 Primary Economic Development Fund of ED/GE. The funding recommendations will be considered by the Board of County Commissioners at its December 20, 2011 meeting. The projects recommended for funding are:

City of Dayton – Crown Partners - $100,000

The project consists of the purchase and renovation of a 31,000 square foot building to serve as corporate headquarters for Crown Partners, a growth oriented IT and management company. Crown Partners will relocate 28 jobs and create approximately 105 additional new jobs in the next three years. ED/GE funds will assist Crown Partners in securing financing on the facility and fund the needed improvements necessary to secure this building as its headquarters.

City of Dayton – PSA Training Center - $225,000

The project consists of selective rehabilitation and expansion of the existing PSA training facility located at the Dayton International Airport. The expansion project will include renovations of the existing 12,100 square foot facility and construction of a new 1,600 square foot building to accommodate a training simulator. The new building will have mechanical and electrical systems and will be fully insulated to accommodate year-round training. This project will support the retention of 422 existing jobs and the creation of approximately 13 new jobs in the first year. ED/GE funds will be utilized to leverage the City’s funding of the project.

City of Huber Heights - Project Centerpoint - $100,000

A Huber Heights business plans to acquire an out-of-state company. The acquisition will complement and expand the company’s advanced manufacturing product line and generate revenue growth. The project will consist of moving 13 engineering and manufacturing jobs to Huber Heights, representing over $2 million in new payroll over a three year period. The company currently employs 66 full time workers and acquiring the new company will increase sales and retain these 66 positions. ED/GE funds will help aid the business with the more than $2 million investment it is making to acquire the business and relocate those operations here.

 

THE ED/GE PROGRAM

The ED/GE Program was established by the Montgomery County Commissioners in 1992 to attract jobs and retain the County’s tax base, reduce inter-local competition for development, enable the County to successfully compete as a region in national and international markets, and to share the benefits of county-wide economic prosperity among all jurisdictions in the County. After nineteen successful years, ED/GE was renewed for another nine years, beginning in 2011.

ED/GE consists of two components: economic development (ED) and government equity (GE). The ED component is funded by the Montgomery County Commissioners with countywide sales tax proceeds. Two funds exist under the ED component: Projects funded from the Primary ED Fund are to be used primarily to establish or expand commercial, industrial and research facilities and create and preserve job and employment opportunities.

The Opportunity Reserve Fund was established to take advantage of unanticipated and important economic development opportunities that arise outside of the ED/GE funding cycles.

The overall purpose of the GE component is to share some of the economic benefits (i.e. increased revenue) resulting from new economic development among Montgomery County’s participating jurisdictions.

THE ED/GE ADVISORY COMMITTEE

The ED/GE Advisory Committee consists of 15 members (6 representing cities and villages; 4 representing townships; 3 representing private sector; and 2 Montgomery County Commissioners). The members of the Committee are as follows:

Gary Auman - Dayton Area Chamber of Commerce

Steve Crowe - Perry Township

Judy Dodge - Montgomery County Commission

Gwen Eberly - City of Clayton

Dan Foley - Montgomery County Commission

Greg Hanahan - German Township

Dean Lovelace - City of Dayton

Steve Reeves - Dayton Area Chamber of Commerce

Mark Schwieterman - City of Kettering

Tom Sears - Village of Farmersville

Brad Townsend - City of West Carrollton

Frank Winslow - Dayton Area Chamber of Commerce

Dave Woods - Harrison Township

John Wright - City of Brookville

Joyce Young - Washington Township

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