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House Development Committee hears budget requests for economic development, life sciences, housing and survivor workforce programs
Summary
The House Development Committee took testimony on the biennial budget (House Bill 96), hearing extensive requests to expand or continue funding for TMUD, Opportunity Zone, historic tax credits, the Brownfield Remediation Program, life-sciences workforce initiatives, drone safety infrastructure, housing programs and survivor workforce expansions.
COLUMBUS — The Ohio House Development Committee heard hours of testimony on the proposed biennial operating budget, House Bill 96, as developers, nonprofit leaders and industry groups urged the legislature to preserve and expand programs designed to spur redevelopment, workforce pipelines and economic growth.
Witnesses recommended targeted increases to four established commercial development tools: the Transformational Mixed Use Development program (TMUD), the state Opportunity Zone program, the Ohio Historic Tax Credit (HTC) and the Brownfield Remediation Program. Mike Sikora of the commercial real-estate trade group recommended raising TMUD’s allocated tax-credit pool from $100 million to $150 million a year, with $50 million set aside for non‑major cities, and increasing Opportunity Zone allocations to $75 million. Sikora also urged broadening the market of buyers for tax-credit certificates to include banks, trusts and individuals, not just insurance companies.
“The mixed-use developments are by their very nature transformational,”…
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