COLUMBUS, Ohio – The Ohio Department of Development has announced a significant funding opportunity for local leaders aiming to revitalize blighted areas. Approximately $21.5 million in grant funding is set to become available under the Demolition and Site Revitalization Program starting September 15. This funding aims to demolish unsafe buildings and prepare sites for future economic development, a move that presents substantial opportunities for the architecture, engineering, construction, and manufacturing (AECM) sectors.
What Happened
The Ohio Department of Development's Demolition and Site Revitalization Program will soon open applications for its latest funding round. This program, which has already invested over $325 million in nearly 6,700 demolition projects statewide, continues to transform community landscapes by removing dilapidated structures. The new funding, backed by the Ohio General Assembly's House Bill 96, will allocate $21.5 million annually to support these efforts. Applications will be accepted from 10 a.m. on September 15 until 5 p.m. on October 16. An informational webinar will be held on September 1 to guide potential applicants through eligibility criteria, application processes, and program guidelines.
What This Means for Your Business
For companies in the AECM sectors, this funding round presents a ripe opportunity to engage in projects that promise both immediate and long-term benefits. The demolition of blighted properties not only clears the way for new construction and development but also enhances local communities, potentially increasing property values and attracting new business investments. Contractors and developers should prepare to leverage these grants to secure lucrative projects that align with local revitalization goals. Moreover, with the Ohio Department of Development’s emphasis on future economic development, there is a clear push towards sustainable and innovative construction practices.
What US Operators Should Watch
Key dates include the opening of the application window on September 15 and its closure on October 16. Prospective applicants should also attend the September 1 informational webinar to ensure compliance with program requirements and maximize their chances of securing funding. Operators must stay aware of the evolving guidelines and prepare robust proposals that demonstrate their ability to contribute to Ohio's economic revitalization.
Source: https://businessjournaldaily.com/21-5m-in-new-funding-available-for-building-demolition-projects/. Read the original story ->
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