Youngstown is one of seven Hubs that could benefit.
Ohio Department of Development announced that a total of $400,000 is available for projects located within the seven Ohio Hubs of Innovation and Opportunity around the state including Youngstown, Ohio.
Last August, the State of Ohio received $1.8 million in funding through the Recovery Act from the U.S. Environmental Protection Agency for brownfield revitalization efforts. Up to $200,000 per project is available for eligible applicants to remediate asbestos contamination in historic buildings located within the Hub’s regional boundaries. Each Ohio Hub is welcome to apply for up to two grants to redevelop and reuse buildings that are at least 50 years old.
“The Ohio Hubs are designed to spur economic development by capitalizing on a region’s strength and unique history,” Ohio Department of Development Director Lisa Patt-McDaniel said. “This additional funding is a great opportunity for our communities to improve the environmental quality of buildings within the Ohio Hubs and to find new uses for them.”
The Ohio Hubs, supported by the Ohio Department of Development, leverage a region’s resources and investments to attract clusters of connected businesses, encourage new investments and an influx of talented workers and help create new opportunities to grow jobs and develop Ohio’s key industries. The Ohio Hubs develop a unique, concentrated environment that spurs innovation, company growth, employment, capital investment, product sales and community development in designated areas.
The seven Ohio Hubs include:
- Akron Biomaterials Commercialization Hub
- Central Ohio Hub for Advanced Energy Manufacturing and Energy Storage
- Cincinnati’s Consumer Marketing Hub of Innovation
- Cleveland Health and Technology Corridor Hub
- Northwest Ohio Solar Energy Innovation Hub
- Ohio Aerospace Hub in Dayton
- Youngstown Entrepreneurial Hub of Advanced Materials Commercialization and Software Development
The Brownfield Revolving Loan Fund, administered by the Ohio Department of Development’s Urban Development Division, offers below-market rate loans and sub-grants to assist with the remediation of a brownfield property to return it to a productive economic use in the community. Properties receiving assistance from the Brownfield Revolving Loan Fund must have been contaminated by hazardous substances.
Asbestos was incorporated into past building materials for its fire-retardant properties. It is now known to increase the risk of certain cancers and must be identified and removed by certified asbestos abatement professionals using specialized methods and equipment. Funding from this grant will be used to employ certified contractors and environmental specialists to safely abate the asbestos hazards.