Wednesday, August 5, 2009

County Launches "Recovery Zone" Financing Process

Yesterday, Hamilton County rolled out a new financing program to spur economic development and job creation within Hamilton County.

Working with the Hamilton County Development Company (HCDC), the County has launched a competitive process for private sector projects to access $22,947,000 in tax exempt financing via the Recovery Zone Facility Bonds (FZFBs) that were part of the national "stimulus" legislation.

This financing program is available to private and non-profit enterprises to access tax exempt financing for facility improvements and expansions. Hamilton County is one of the first counties in Ohio to develop criteria and establish a process for allocating the FZFBs.

The Commission will focus on projects that result in new jobs and sales tax growth in the county, among other criteria.

The first deadline for projects to submit applications will be in late August.

The bottom line, with this and other approaches: we're doing everything we can to get our economy moving again and create jobs. This new program should help push some important projects forward at this critical time, and will lead to millions of dollars invested in the local economy."

For information on the Recovery Zone Facility Bonds Program please contact the Hamilton County Development Company at (513) 631-8292 or visit their website at WWW.HCDC.COM.

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