Positioning the Dayton Region for Growth
To capture projects, big or small, Dayton must-have sites ready for investment. Projects are moving at a faster pace and greater scale than ever before. We used to have 18 months to two years to land a project. Now those decisions are being made in six months or less. If a site is not ready with power, water, zoning and other considerations, there is no time to fix those issues before a company decides. Therefore, site inventory must be ready before a company starts looking at the region. Programs like Ohio Site Inventory Program (OSIP) and SiteOhio ensure that the Dayton Region is positioned for growth.
Ohio Site Inventory Program (OSIP)
The Ohio Site Inventory Program (OSIP) was established to create property within the state not being developed by the market but that has proven demand and known economic benefit. This program lays the foundation for development opportunities for Ohio prospects, improving the state’s competitive edge with respect to attraction new investment and job creation by filling gaps in the state’s inventory portfolio.
OSIP offers grants and low-interest loans to support speculative site and building development projects with no identified end user. The primary goal of OSIP is to fill gaps in Ohio’s real estate inventory with real estate targeting near-term sector wins to ensure our state is more competitive for reactive site selection projects.
Learn more: Support for spec site and building development projects (jobsohio.com)
SiteOhio
SiteOhio is a one-of-a-kind site evaluation program offered by JobsOhio. The program goes beyond the common certified site process and puts properties with industrial zoning through a more stringent and comprehensive review and analysis. SiteOhio authentication guarantees that all utilities are on the property and have adequate capacity, that due diligence studies have been completed, and that all state and federal entities have provided concurrence with the studies.
Before the SiteOhio program, there was little to no due diligence and sites were unprepared for companies. The SiteOhio program ensures that sites are construction ready, meaning that each site is ready for immediate development on day one. SiteOhio allows companies the chance to build their future in Ohio.
Learn more: SiteOhio - Build Your Future in Ohio (youtube.com)
Megaprojects
Programs like OSIP and SiteOhio position sites ready to win megaprojects. According to Ohio legislation, to qualify as a “Megaproject” the new development project must meet the following requirements:
- the project requires unique sites, extremely robust utility service, and a technically skilled workforce;
- the taxpayer that undertakes and operates a Megaproject (Megaproject Operator) must compensate project employees at an average hourly wage of at least 300% of the federal minimum wage; and
- the Megaproject Operator makes at least $1 billion in fixed-asset investments, or the Megaproject Operator creates and maintains at least $75 million in Ohio employee payroll.
Megaprojects, such as Honda and LG Energy Solution’s joint venture, ensures that the Dayton Region’s economy and workforce continues to grow. Honda and LG Energy Solution (LGES) announced their decision to establish a new joint venture company to produce lithium-ion batteries in the U.S. to power Honda and Acura EV models.
The company sought to establish a manufacturing facility of approximately 2.5-3.0MSF on a 450-acre greenfield site. Preference was given to the location that could provide sufficient utilities and entitlements on an expedited basis, would require the most effective and timely investment, would meet the desired workforce scalability, subsequent sustainability, and perform most efficiently relative to one-time and recurring costs.
