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 [...]
Last week’s Washington, DC trip was a fitting cap on 2009. Finance Fund has increased its exposure in public policy and public relations over the year, and these series of meetings were in line with that strategy.
Tuesday was spent on Capitol Hill visiting with thirteen members of the Ohio Congressional delegation about extension of [...]
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 [...]
This is a pretty important day in the history of Finance Fund. We learned this morning that we have been awarded $50 million in New Markets Tax Credits from the CDFI Fund in the U.S. Department of Treasury. The funding will be used to offer low-interest financing for projects that revitalize both urban and rural low-income [...]
Driving through many neighborhoods across the state of Ohio is more like driving through ghost towns. Vacant, abandoned properties litter the once-thriving communities, reminding passers-by of the crisis facing us all and the disparity of resource allocation in our country. As the Wall Street Journal recently reported, more than 1.5 million properties received a foreclosure [...]
Editor’s Note: This post is from Valerie Heiby, our Director of Development.
We have all heard how market conditions and increased competition have affected the health of Ohio’s community banking sector and the quality and availability of banking products and services. But in this economy, it’s imperative to find new ways to do business. Investing in [...]
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