On Wednesday, May 30, 2012, the Montgomery County, Ohio Economic Development/Government Equity (ED/GE) Advisory Committee recommended funding nine projects, totaling $1,453,000 from the County’s 2012 Primary Economic Development Fund of ED/GE. The funding recommendations will be considered by the Board of County Commissioners at its June 5, 2012 meeting. The projects recommended for funding are:
City of Dayton – Midmark - $100,000
Midmark will renovate and build out 18,000 s.f. of an existing facility at TechTown, creating its corporate headquarters. The project will bring 57 new jobs to Dayton and add an additional 23 over the next five years. ED/GE funds will be used to offset the costs of renovation and build out.
Butler Township – Logistics & Distribution Strategic Market Analysis & Recruitment - $75,000
This project will conduct an in-depth analysis of logistics and distribution market segments; identify opportunities to recruit specific companies to the region; and, develop strategic infrastructure investments necessary to support further private sector logistics and distribution facilities along the I-70 and I-75 corridors. In conjunction with the Dayton Development Coalition, ED/GE will help fund this important initiative.
City of Vandalia – Project Four Square - $300,000
The yet un-named company will purchase 16.7 acres of land and construct an 83,000 s.f. food processing facility at Stonequarry Crossing, bringing 120 jobs to Vandalia by 2017. ED/GE funds will be utilized to help support the purchase of the land.
City of Vandalia – Project GI - $200,000
This multi-phase initiative will expand the capabilities, capacity and office space for an un-named advanced manufacturing company. The initial phase will renovate an existing manufacturing area for an additional product, adding 10-15 jobs to fill this added capacity. The second phase consists of an office expansion to accommodate employees moving from outside of Ohio, adding 10-15 jobs for this phase. The construction of a new warehouse will be phase three and will add 2-4 positions. The final phase will renovate the existing warehouse into manufacturing space and add another 10-15 jobs, for a total of up to 35 additional jobs. ED/GE funds will be used to offset the cost of the renovation and expansion.
City of Riverside – Mullins Rubber - $53,000
Mullins Rubber will install a non-contact closed loop cooling system consisting of three 4.000 gallon cement tanks, a 40-ton chiller, a 160 m @ 50 psi supply pump and a constant-volume pump. Installation of the system will assist in the creation of 10 jobs and the retention of 55 jobs at the company, which has been in Riverside since 1942. ED/GE funds will assist with the cost of installation.
City of Kettering – Mound Laser & Photonics Center - $175,000
The company will build a 20,800 s.f. facility in the Miami Valley Research Park to accommodate the expansion of its laser-based microfabrication business. The facility will include additional clean rooms and will serve new business opportunities from California. The expansion will retain 36 jobs in Montgomery County and create 50 new positions. ED/GE funds will be used to offset the cost of land acquisition.
City of Miamisburg – BOI Solutions Retention & Expansion - $200,000
BOI’s current building has become too small and inefficient as a result of its recent growth. BOI will purchase an office building at the Mound Advanced Technology Center and renovate it to meet their needs. Interior office spaces will be renovated, a loading dock and drive in bay will be built and concrete truck aprons and turnarounds will be constructed. BOI will retain their current 21 employees, create another 15 jobs over the next three years and an additional 15 jobs by year five. ED/GE funds will be used for renovation costs.
City of Miamisburg – Excelitas Expansion & Renovation - $300,000
This project is part of a larger State of Ohio Jobs Ready Sites and 629 Project that will construct a roadway, utilities, storm water detention and reforestation to a portion of the site. In addition, company plans construction of parking and building improvements. The roadway and utility expansion will open up additional land for development and extend the major collector street to Excelitas. Eighty-five jobs will be retained and 30 jobs created over 3 years. ED/GE dollars will assist with the cost of improvements.
Village of Farmersville – Broadway Street Improvements - $50,000
The project will repair infrastructure around an existing vacant building to allow the building to be utilized by Elite Iron Services. Coupled with OPWC funding, ED/GE funds will be used for roadway construction, replacement of undersized waterline, replacement of deteriorated curbs and walks, installation of handicap ramps, construction of new drive aprons, pavement resurfacing and restoration of lawn surfaces. Elite Iron Services will retain seven jobs and create two new positions.
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).