On Friday May 11, 2018, the Montgomery County, Ohio Economic Development/Government Equity (ED/GE) Advisory Committee recommended funding 7projects, totaling $1,070,000 from the County’s 2018 Primary Economic Development Fund of ED/GE. The funding recommendations will be considered by the Board of County Commissioners at its May 15, 2018 meeting. The projects recommended for funding are:
City of Dayton – Arcade Innovation Hub- $500,000
This project will allow the Arcade Innovation Hub to redevelop an 88,000 square foot section of the vacant Dayton Arcade complex. The City and its partners project the redevelopment will result in the creation of 426 new entrepreneurial jobs. Funds will be used for upgrades to the HVAC and Energy Recovery support systems.
City of Englewood – Dynamic Machine - $50,000
This project will allow Dynamic Machine, a small manufacturing company, to acquire an existing 18,200 square foot facility in the City of Englewood. The company projects the improvement will result in the creation of 10 jobs. Funds will be used for acquisition of the building.
City of Trotwood – “Project Timber” - $250,000
This project will assist “Project Timber,” a confidential company considering construction of a 190,000 square foot distribution center in the City of Trotwood. The company projects the new facility will result in the creation of 35 jobs. Funds will be used for construction of the new facility.
City of Union – Belevin Corporation - $132,000
This project will allow Belevin Corporation, a provider of manufacturer and distributor of pole barns, to acquire and renovate an existing 32,000 square foot facility in the City of Union. The company projects the manufacturing facility will result in the creation of 20 new jobs. Funds will be used for acquisition and renovation of the building.
City of Vandalia – Sand Lake Property, LLC (Affiliate of Dayton Freight) - $58,000
This project will allow Sand Lake Property, LLC to upgrade the climate control systems at its existing office building in the City of Vandalia. The company projects the upgrades will result in the creation of 41 and the retention of 215 jobs. Funds will be used for installation of digital thermostat devices.
Harrison Township – Buckeye Trailer Repair & Fabrication - $40,000
This project will allow Buckeye Trailer Repair & Fabrication, a small trailer repair company that focuses on the trucking industry, to purchase and renovate a vacant 5,700 square foot facility in Harrison Township. The company projects the expansion will result in the creation of three (3) new and retention of four (4) jobs. Funds will be used for acquisition and renovation of the building.
Village of New Lebanon – Heads Up Cylinder Heads - $40,000
This project will allow Heads Up Cylinder Heads, a custom tool & die manufacturing company, specializing in performance automotive parts, to construct a new 5,760 square foot facility in the Village of New Lebanon. The company projects the expansion will result in the creation of five (5) jobs. Funds will be used for construction of the new facility.
THE ED/GE PROGRAM
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.
ED/GE consists of two components: economic development (ED) and government equity (GE). The ED component is funded by the Montgomery County Commissioners with countywide sales tax proceeds. Projects funded from the Primary ED Fund are to be used primarily to establish or expand commercial, industrial and research facilities and to create and preserve job and employment opportunities.
The purpose of the GE component is to share some of the economic benefits (i.e. increased revenue), resulting from new economic development among Montgomery County’s participating jurisdictions.
THE ED/GE ADVISORY COMMITTEE
The ED/GE Advisory Committee consists of 15 members (6 representing cities and villages; 4 representing townships; 3 representing private sector; and 2 Montgomery County Commissioners).