Release Date: Jul 1, 2009
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Summary:
On Tuesday, June 30, 2009, the Montgomery County Board of Commissioners approved two Economic Development/Government Equity (ED/GE) agreements with the City of Vandalia.

The first involves an agreement with the City of Vandalia for "Project Centerline" in an amount not to exceed $350,000.  Stonequarry Crossings, a 200-acre mixed-use development in Vandalia is being considered for a 1.3 million square foot distribution center that would employee 700 people, with a total payroll of $20 million. The company would be the second tenant in Stonequarry Crossings and will provide a significant number of jobs for residents throughout Montgomery County. ED/GE funding is an important part of this project as the company, which prefers to remain anonymous at this time, is considering other locations outside of this region and the state of Ohio.

The Commissioners also approved an ED/GE agreement with the City of Vandalia for "Project Charlie" in an amount not to exceed $250,000.  The City of Vandalia is competing with Grand Rapids, Michigan for "Project Charlie." The project will be a $10 million investment to relocate 130 new employees to an existing Vandalia company. The jobs will be new to Ohio and the Dayton region as they will be relocated from New York.  The ED/GE grant will be a part of an incentive package, along with the State of Ohio, Dayton Development Coalition and City of Vandalia.  ED/GE dollars will be utilized for building improvements.

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 nine successful years, ED/GE was renewed for another ten years, beginning in 2001.  28 jurisdictions, representing 100% of Montgomery County's population, are members.

To learn more about the ED/GE program, contact the Montgomery County Department of Economic Development at 937-225-6140.