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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

UPDATE: Exempt Organizations Filing Deadline Extended Until July 15, 2020

April 13, 2020In a recent announcement, the IRS has expanded the deadline for any taxpayers, whether individuals, trusts, estates, corporations, and other non-corporate tax filers, where a filing or payment deadline falls on or after April 1, 2020 and before July 15, 2020. These taxpayers now have until July 15, 2020 to file and pay any federal income tax that is generally due on April 15. The IRS will not assess any late-filing penalty, late-payment penalty, or interest.Client Alert

New IRS Portal for Non-filing Taxpayers to Enter Payment Information & Receive Economic Impact Payments

April 13, 2020The IRS has created a portal for non-filers to enter payment information in order to receive the economic impact payments. This portal is for taxpayer’s who have gross income that does not exceed $12,200 if single and $24,400 if married filing jointly, or were not otherwise required, or plan, to file a tax return for 2019.Client Alert

IRS Grants Additional Extensions and Suspends Collection Activity

April 13, 2020More Extensions Granted for Filing Returns In addition to those previously announced, the IRS has granted extensions for filing of the following returns and payments of amounts due for any of the returns listed below due after April 1, 2020 and before July 15, 2020: Form 706 - Estate and Generation-Skipping Transfer Tax; Form 8971 – Information Regarding Beneficiaries Acquiring Property form a Decedent; Form 709 – United States Gift (and Generation-Skipping Transfer) Tax; Any Estate Tax payment due as a result of an election under sections 6166, 6161, and 6163; Form 990-T – Exempt Organization Business Income Tax; Form 990-PF – Return of Private Foundation or Section 4947 Trust; Form 4720 – Return of Certain Excise Taxes; and All estimated payments made on Form 990-W; 1040-ES, 1041-ES, 1120-W. (This is a change from the extension of only the first quarter estimate to include the June 15, 2020, estimate).Client Alert

IRS Provides Guidance for Payroll Tax Deferrals and Credits

April 13, 2020IRS Provides Guidance for Payroll Tax Deferrals and CreditsClient Alert

FCC Funding Opportunity for Telehealth Equipment – Portal Open

April 13, 2020Telehealth is becoming a necessary practice for healthcare providers during the COVID-19 pandemic. However, not all providers have the means to institute a telehealth program. In order to help non-profit and public healthcare providers utilize telehealth, the Coronavirus Aid, Relief and Economic Security (CARES Act) set aside $200 million in funds for telehealth equipment, broadband connectivity, and information services. The FCC has recently released a guidance document that describes how eligible providers can apply for this “COVID-19 Telehealth Program” and the portal for applying will open today, April 13, 2020 at 12:00 PM ET.
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