FISHER ANNOUNCES $50.5 MILLION IN GRANT FUNDING TO ACCELERATE DEVELOPMENT OF COMMERCIAL SITES

Columbus, OH – November 13, 2008 – (RealEstateRama) – Lieutenant Governor Lee Fisher today announced the award of $46 million in Job Ready Sites program grants and $4.5 million in other state infrastructure grants for projects at 12 commercial sites throughout the state. The announcement was made at Columbus’ TechCenter South, the site of a planned multi-use space development and recipient of Job Ready Sites Funding. Ohio’s Job Ready Sites program, administered by the Ohio Department of Development, gives communities a head start by helping them to develop shovel-ready sites into marketable business facilities.

“Improving upon our stock of high-quality sites will accelerate job growth for Ohioans and enable expansion for companies seeking to do business in Ohio,” said Lt. Governor Fisher, who also serves as Director of the Ohio Department of Development. “Our strategic investments run the gamut, from green initiatives and cutting-edge research centers to manufacturing and logistical facilities that deliver products once they are commercialized.”

The Job Ready Sites program is a competitive funding program designed to increase the supply and quality of Ohio’s inventory of available sites and facilities served by utilities and transportation infrastructure. Since its inception in 2005, the program has awarded $102.5 million in grants.

“Each region of the state needs to be prepared to retain and attract jobs,” said State Senator John Carey (R – Wellston). “The Job Ready Sites Program helps to accomplish that goal.”

Senator Carey remains closely involved in the Job Ready Sites program and has sponsored senate legislation making it more inclusive statewide. The program provides grants in five identified high-impact project site categories: mega manufacturing operations, typically 1,000 acres or more; technical centers/research laboratories; manufacturing operations; existing industrial buildings; and Leadership in Energy and Environmental Design (LEED) -certified Smart Office complexes. Approved projects will be certified as satisfying their respective site attributes category within three years of receiving awards and will then be added to Ohio’s inventory of available sites.

The following is a list of awarded projects:

• Keystone Parke Project Site – A 467,000 square feet Leadership in Energy and Environmental Design (LEED) Silver-certified Smart Office Campus development at the Dana Avenue interchange on Interstate 71 in Cincinnati. The project will receive $1.4 million.
• Center City Core Redevelopment – Renovation of the historic Bushnell building in downtown Springfield to create 75,000 square feet of LEED-certified Smart Office space. The project is a key component of Springfield’s City Core Redevelopment Area and will receive $5 million.
• TechTown Smart Building– Located on the former GM/Delco Thermo Products Facility, and adjacent to downtown Dayton’s revitalized north-end, the project will construct 60,000 square feet of LEED Silver-certified Smart Office space. The project will receive $5 million.
• PMX Euclid – Located along Interstate 90 in Euclid, this project involves redevelopment of the former Chase Brass & Copper Company facility to create 85 acres of job-ready manufacturing space. The project will receive $4.3 million.
• TechCenter South – Located in the south side of Columbus, the project will renovate the former Techneglas and Owens Illinois facilities to create 1.1 million square feet of multi-use office and industrial flex-space. The project will receive $5 million.
• Cuyahoga Valley Industrial Center – The project will remediate environmentally contaminated land along the Cuyahoga River to create 64 acres of job-ready manufacturing space which will be the single largest available industrial site in Cleveland. The project will receive $5 million.
• North Canton Hoover Campus Redevelopment Project – The project will redevelop the former Hoover headquarters and manufacturing center to create a truly mixed-use development. The redevelopment is to include 150,000 square feet of LEED certified Smart Office space, 300,000 square feet of manufacturing space, 250,000 square feet of distribution space, and 40,000 square feet of retail and live-work space. The project will receive $5 million.
• Van Wert Mega Site – The City of Van Wert will make water, gas, electric and rail improvements to 1,600 acres to create a “mega-manufacturing” job-ready site northeast of the city. The project will receive $5 million.
• NASA Plum Brook Research & Development Site – The project, in the City of Sandusky, will prepare 1,274 acres of land adjacent to the NASA Plum Brook Station to accommodate research and development space. Improvements at the site include facility upgrades, construction of water and sewer lines, and upgrade of existing gas and electric infrastructure. The project will receive $2.75 million
• Lake Erie Port Manufacturing and Industrial Center – The project will involve dredging for a deep sea port along the Maumee River and infrastructure improvements on the 181-acre site making the Toledo Port the largest on the Great Lakes. The project will receive $5 million.
• Salt Springs Road Expansion – In support of Exal Corporation’s proposed expansion, the City of Youngstown, with Job Ready Sites funds, will acquire the current 68-acre LaFarge site along the Mahoning River, remediate it, upgrade utilities, and construct a public roadway. The Exal Corporation will construct a 600,000 square foot LEED Silver rated manufacturing facility. The project is expected to create 1,000 new advanced-manufacturing jobs. The project will receive $4.9 million.
• Goodyear World Headquarters – The project involves construction of a new headquarters building and a research and development facility in the city of Akron. The project will receive $2 million.

Approved by voters in November of 2005 as part of the “Jobs for Ohio Bond Initiative,” the Job Ready Sites program is designed to reduce costs incurred in the acquisition, construction, site building, infrastructural improvement, feasibility study phase, financing, or remediation of environmentally contaminated property. Working with our partners across business, state and local governments, academia, and the non-profit sector, the Ohio Department of Development works to attract, create, grow, and retain businesses through competitive incentives and targeted investments. Engaged every day in marketing, deal-making, innovating, investing, and collaborating, the Ohio Department of Development works at the speed of business to accelerate and support the teamwork that is absolutely necessary for success by providing financial, informational, and technical assistance to those making an investment in Ohio’s future.

Media contacts: Robert Grevey at (614) 466-6619 or
the Communications and Marketing Office at (614) 466-2609