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Ohio

Ohio

Incentives/Policies for Renewables & Efficiency

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Advanced Energy Job Stimulus Program   

Last DSIRE Review: 10/09/2012
Program Overview:
State: Ohio
Incentive Type: Industry Recruitment/Support
Eligible Efficiency Technologies: Heat recovery, See the web site for details
Eligible Renewable/Other Technologies: Solar Water Heat, Solar Space Heat, Solar Thermal Electric, Solar Thermal Process Heat, Photovoltaics, Landfill Gas, Wind, Biomass, Hydroelectric, Geothermal Electric, Fuel Cells, CHP/Cogeneration, Advanced Solid Waste, Electricity Storage, Advanced Nuclear, Anaerobic Digestion, Fuel Cells using Renewable Fuels
Applicable Sectors: Commercial, Industrial, Nonprofit, Local Government, State Government, Tribal Government, Fed. Government, Institutional
Amount:$50,000 to $2 million
Start Date:06/12/2008
Web Site: http://www.ohioairquality.org/advanced_energy_program/
Authority 1:
Date Enacted:
Date Effective:
ORC ยง 3706.25 et seq
06/12/2008
06/12/2008
Summary:

This bond-funded program creates an Advanced Energy Job Stimulus Fund that is administered through a public process previously managed by the Ohio Air Quality Development Authority (OAQDA). Beginning in 2012, the program is managed by the Ohio Development Services Agency. The Program will award funds to a portfolio of advanced energy projects. These projects will serve to attract new investment to Ohio, build upon Ohio's manufacturing strength, advance energy technology development toward commercialization and prepare Ohio's workforce for the future. Detailed definitions of eligible advanced energy projects and renewable energy resources may be found in ORC 3706.25.

Funding Categories
The $150 million advanced energy money (over three years) seeks to increase the development, production and use of advanced energy technologies in the state, and is divided in the following manner:
• $66 million for clean coal technology projects administered through OAQDA’s Ohio Coal Development Office (OCDO) (reviewed by the Technical Advisory Committee and approved by OAQDA); and
• $84 million for non-coal-related projects in three $28 million annual appropriations administered by OAQDA (reviewed by the Development Finance Advisory Council, approved by the OAQDA and brought before Controlling Board for final approval).


Project Financing
OAQDA provides financing via conduit bonds for a broad range of projects involving the purchase, construction and/or installation of air quality facilities by businesses and other entities. It is important to note that this program provides forgivable and non-forgivable loans ONLY. The Ohio Constitution does not allow grant awards for this program. All OAQDA financing instruments are conduit bonds that:
• May be exempt or non-exempt from federal income tax.
• Enjoy 100 percent lifetime exemption from state income tax, real property, sales and use taxes.
• Are based on a credit analysis of the benefiting party and must identify the revenue sources that cover principal and interest payment.

As a general guideline, awards will range from approximately $50,000 to $2 million, based on size and scope and on jobs, investments and other impacts and may be considered for higher awards if outstanding potential value is demonstrated. Additionally, five percent of the fund may be set aside for small awards (generally in the range of $50,000) to support disruptive technologies with significant potential for success, even if they are in earlier stages of development. For more information about OAQDA project financing, please visit the OAQDA web site.

For highly qualified applicants, loans could be structured a number of ways including below market rates, subordinate collateralized positions with participating financial institutions and/or varying principal payments for a specified period of time. It should be noted that projects receiving assistance through this program may be subject to Ohio prevailing wage requirements. Applicants should review these guidelines carefully.


 
Contact:
  Megan Zemke
Ohio Air Quality Development Authority
50 W Broad Street
Suite 1718
Columbus, OH 43215
Phone: (800) 225-5051
Phone 2: (614) 466-6825
E-Mail: Megan.zemke@aqda.state.oh.us
Web Site: http://www.ohioairquality.org/
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Disclaimer: The information presented on the DSIRE web site provides an unofficial overview of financial incentives and other policies. It does not constitute professional tax advice or other professional financial guidance, and it should not be used as the only source of information when making purchasing decisions, investment decisions or tax decisions, or when executing other binding agreements. Please refer to the individual contact provided below each summary to verify that a specific financial incentive or other policy applies to your project.

While the DSIRE staff strives to provide the best information possible, the DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. make no representations or warranties, either express or implied, concerning the accuracy, completeness, reliability or suitability of the information. The DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. disclaim all liability of any kind arising out of your use or misuse of the information contained or referenced on DSIRE Web pages.

Copyright 2013 - 2014 North Carolina State University, under NREL Subcontract No. XEU-0-99515-01. Permission granted only for personal or educational use, or for use by or on behalf of the U.S. government. North Carolina State University prohibits the unauthorized display, reproduction, sale, and/or distribution of all or portions of the content of the Database of State Incentives for Renewables and Efficiency (DSIRE) without prior, written consent.