Advanced Energy Job Stimulus Program (Ohio)

(Redirected from Ohio Job Stimulus Plan (Advanced Energy Program) (Ohio))

This is the approved revision of this page, as well as being the most recent.
Jump to: navigation, search

Summary

Last modified on February 12, 2015.

Financial Incentive Program

Place Ohio

Name Advanced Energy Job Stimulus Program
Incentive Type Industry Recruitment/Support
Applicable Sector Commercial, Industrial, Nonprofit, Local Government, State Government, Tribal Government, Fed. Government, Institutional
Eligible Technologies Heat recovery, 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, Anaerobic Digestion, Fuel Cells using Renewable Fuels, Energy Storage, Nuclear
Active Incentive No

Implementing Sector State/Territory
Energy Category Renewable Energy Incentive Programs, Energy Efficiency Incentive Programs
Amount 50,000 to 2 million







Start Date 2008-06-12


















Program Administrator Ohio Development Services Agency
Website http://www.ohioairquality.org/advanced_energy_program/
Date added to DSIRE 2008-11-20
Last DSIRE Review 2014-08-07



References DSIREDatabase of State Incentives for Renewables and Efficiency[1]


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.


Incentive Contact

Contact Name Megan Zemke
Department Ohio Air Quality Development Authority

Address 50 W Broad Street
Address 2 Suite 1718
Place Columbus, Ohio
Zip/Postal Code 43215
Phone (800) 225-5051
Phone 2 (614) 466-6825

Email Megan.zemke@aqda.state.oh.us
Website http://www.ohioairquality.org/
     
     

Authorities (Please contact the if there are any file problems.)

Authority 1: ORC § 3706.25 et seq
Date Effective 2008-06-12
Date Enacted 2008-06-12



















  • Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.[1]

References

  1. 1.0 1.1  "Database of State Incentives for Renewables and Efficiency"