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Areas of Opportunity in Columbus: Highlights from the Columbus Opportunity Summit

Client Alert
May 5, 2023

On April 27, 2023, Columbus Business First held its annual Columbus Opportunity Summit, bringing together business and economic development leaders to provide an update on how Central Ohio is preparing for expected growth in the coming years, an issue heightened by the arrival of Intel at its 1,000-acre site in Licking County, just outside of Columbus. The site will be home to two new chip factories with room to grow to a total of eight factories and is a $20 billion investment.

Logistics

Ohio already is known as the ‘heart of America.’ It is within one day’s drive of 60% of the continental U.S. Ohio is also the fourth largest rail transporter by mileage and suppliers. Areas for opportunity include supporting and scaling logistical providers and connecting local and regional supply chains.

Infrastructure

New Albany, a suburb minutes from Downtown Columbus, has earmarked $300M to grow infrastructure with a focus on connecting people to their everyday needs. This means that developing communities will include jobs, housing, groceries, and daycares in one central location. Areas for opportunity include city and regional planning with a focus on connecting to adjacent communities.

AEP is working to bring fiber to its existing broadband network and has implemented technology that helps share electricity loads to help cover areas experiencing outages. Areas for opportunity include training and hiring line workers and other skilled labor forces.

Ohio’s Site Inventory Program

Ohio has implemented its Site Inventory Program to help Ohio be competitive for site selection projects. The program provides authenticated sites that are “shovel ready,” meaning they have power and water on site and have state and federal approval without limits. There are currently 30-40 authenticated sites in Ohio.

Conclusion

Columbus has demonstrated significant growth in commerce and population, and with the arrival of Intel, central Ohio cities will need to collaborate to grow together and connect their development. Cohesive growth will be essential for competing for federal funding and building successful long-term systems. BMD has significant experience in business growth, construction law, contract negotiation, compliance with federal grant laws, and employment law issues. If you would like to discuss these topics further, please contact Kelly Jena at Kejena@bmdllc.com.

ColumbusEconomic Development
Client Alert

PPP Loan Forgiveness Application Details

May 18, 2020As PPP loan recipients start to take stock of how they’ve used funds over the eight-week period, many businesses are eager to move ahead with the forgiveness portion of the program. How much of the loan will be forgiven is determined by the Small Business Administration (“SBA”), as provided in the CARES Act.[1] Over the weekend, the Department of Treasury released details on the forgiveness application, which can be found here.Client Alert

CARES Act and Financial Institutions – Litigation Update

May 15, 2020The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) and the Paycheck Protection Program (“PPP”) have allowed some businesses to remain operational during the COVID-19 pandemic. For these businesses, obtaining access to funds under these programs has proved vital.Client Alert

A Potential Childcare Disruption for Rehired Employees

May 14, 2020As businesses reopen, employers with fewer than 500 employees need to brush up on the FFCRA Paid Leave rules, including a potential disruption to your return to operations.Client Alert

With Summer Vacation on the Way, Are Employees Still Entitled to Childcare Leave under EFMLEA?

May 13, 2020Distance learning/homeschooling is finally starting to wrap-up for millions of students across America, a perhaps welcomed end for many, and summer vacation will soon begin. As summer vacation begins, your employees may have questions as to whether they qualify for child care leave under the expanded FMLA (“EFMLEA”), which many employees used over the last few months to receive partial compensation while they were away from work to care for their children. Now, employers with fewer than 500 employees must take note of additional guidance recently published concerning qualification for childcare leave.Client Alert

Economic Impact Payment is Not Taxable Income

May 12, 2020The IRS stated that the economic impact payments are not considered taxable income. Therefore, individuals will not owe tax on the amount of economic impact payment received.
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