Welcome to the Finance Fund Blog!On May 27, in Jackson, Ohio, my staff and I ventured to picturesque Jackson, Ohio, located in the Appalachian foothills, to celebrate the economic development success of another fruitful partnership—Ohio Basic Minerals.
Patrick McDonald, Ohio Basic Minerals CEO, and Jeff Schrader, founder of the original Schrader and Sons Sand and Gravel, spoke to the crowd of [...]
This week we’re seeing our mission and values come to life as we celebrate another success story. Ohio Basic Minerals (OBM), a sand and gravel company in Appalachia’s Jackson, Ohio, is holding their grand re-opening Thurs., May 27. OBM is celebrating its newly expanded and revitalized facility. The project created 35 construction jobs, retained seven [...]
Finance Fund utilizes the New Markets Tax Credits (NMTC) program to fund many worthy projects in some of the most distressed areas of Ohio. In fact, as shared in previous posts, we have more than $50 million in NMTC for development projects throughout the state. We’ve had several NMTC success stories in the past few [...]
On Wed., April 21, we proudly hosted several state legislators, community leaders and Finance Fund project partners at the Capital Club in downtown Columbus. It was an excellent opportunity to share how Finance Fund has positively impacted some of the state’s most distressed communities.
We highlighted four partnership “success stories,” including Ohio Basic Minerals in Jackson; [...]
On February 19th I participated in a conference call in which senior Treasury officials provided remarks preceding a press release and fact sheet further supporting the inclusion of a New Markets Tax Credit program extension for 2010 & 2011 in the President’s proposed budget. “As part of the Administration’s strategy to restore prosperity and create [...]
On Wed., Feb. 3, Secretary of the Treasury Timothy Geithner announced that CDFI (Community Development Financial Institution) banks, thrifts and credit unions may now access funds from the Troubled Asset Relief Program (T.A.R.P.). This is part of the Obama Administration’s movement to support business lending by community development banks and development credit unions.
Mark Pinsky, President [...]
“Never awake me when you have good news to announce, because with good news nothing presses; but when you have bad news, arouse me immediately, for then there is not an instant to be lost.” – Napoleon Bonaparte
It was a busy week for our government leaders. President Obama made a stop here in the Buckeye [...]
Adversity is the first path to truth. (Lord Byron)
In the midst of clamor, distress, insecurity, and despair, 2009 was a good year for Finance Fund though it was, by most accounts, unique and demanding. William Shakespeare said “Is it not strange that desire should so many years outlive performance?” If 2009 were to judge us [...]
The announcement of the New Market Tax Credit (NMTC) award has certainly enhanced the level of excitement and activity at Finance Fund. The 2009 award of $50 million added to the $20 million remaining from the 2008 award gives us a total of $70 million in NMTC to place in Ohio communities in 2010. Our [...]
Finance Fund has been “hanging around” Ohio for twenty some years and has provided some tangible value to distressed communities and inspired changes that, but for its presence, would not have happened. Ohio is proud of what Finance Fund has done but continues to ask the question “Is this all you can do?” It is [...]
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