Buckeye Reporter

Ohio Governor Mike DeWine, alongside Lt. Governor Jon Husted and Ohio Department of Development Director Lydia Mihalik, has introduced the All Ohio Future Fund. This $750 million initiative is designed to support local communities by providing funding for one-time infrastructure costs crucial for preparing economic development sites.

Governor Mike DeWine emphasized the importance of this initiative in his statements. "Increasing our inventory of project-ready sites is imperative for continued economic growth," he said. He further noted that "With the help of this program, we will usher in a new era of economic development for Ohio, fueling opportunity for generations to come."

A press release detailed that the All Ohio Future Fund was established through collaboration between the DeWine-Husted Administration and the Ohio General Assembly within the existing operating budget. The fund addresses the increasing need for job-ready sites as businesses seek to establish domestic supply chains.

In the same press release, Lt. Governor Jon Husted commented on Ohio's proactive positioning in relation to business expansion. "With the growing demand for businesses to find and expand in Ohio, a state recognized for its favorable business environment, we are proactively positioning Ohio to contribute to America's economic and national security by enhancing our capacity to manufacture essential products locally," Husted said.

The press release also revealed that the program will be overseen by the Ohio Department of Development in collaboration with the Office of Budget and Management. Comprehensive guidelines encompassing project requirements and eligibility criteria were unveiled by the department.

Director Mihalik expressed optimism about the potential impact of this initiative on local communities. She stated, "By cultivating a conducive environment for opportunity throughout our state, we not only draw in investments but also establish the groundwork for enduring development, securing a prosperous future for both Ohio communities and businesses."

According to further details from the press release, applications for this program will open in early 2024. Local government entities and organizations are encouraged to develop project-ready sites. Awardees must secure site occupants within five years, and eligible costs include infrastructure, engineering, and site enhancements. Funding will primarily be available in the form of 0% interest loans, with an Indication of Interest outline provided in early 2024. JobsOhio CEO J.P. Nauseef emphasized the program's role in supporting Ohio's economic momentum since 2019 by addressing the critical need for strategic sites.