Advanced Energy Job Stimulus Program
|Date Last Updated||11/16/2012|
|Incentive Administrator/Contact Office||Ohio Development Services Agency|
|Incentive Initiation Date||6/12/2008|
|Incentive Size and Funding Source||The Program will award funds to a portfolio of advanced energy projects. The $150 million for advanced energy seeks to increase the development, production and use of advanced energy technologies in the state, and is divided in the following manner: |
OAQDA provides financing via conduit bonds. 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:
- $66 million for clean coal technology projects administered through Ohio Air Quality Development Authority's (OAQDA) Ohio Coal Development Office (OCDO) (reviewed by the Technical Advisory Committee and approved by OAQDA).
- $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).
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, 5% 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.
- May be exempt or non-exempt from federal income tax.
- Enjoy 100% 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.
|Eligible Recipient||Project Developers with projects that will 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.|
|Eligible Fuel||Does Not Specify|
|Eligible Project Size (MW)||Does Not Specify|
|Minimum Efficiency Required (%)||Does Not Specify|
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