A new regional economic development fund will help Cincinnati and Dayton work together to spur growth in southwest Ohio, the Dayton Business Journal reports. The Southwest Ohio Regional Bond Fund “is intended to allow the two regions to issue more bonds and attract new companies, as well as grow existing ones,” according to the article. The recently finalized fund has reserves of approximately $13.5 million, “including a $5 million letter of credit from Fifth Third Bank,” giving it the capacity to issue $80 million in bonds. Jerry Brunswick, president and executive director of the Dayton/Montgomery County Port Authority, said, “[t]he broad development powers afforded to port authorities allow us to issue taxable or tax-exempt bonds through these bond funds to finance a variety of economic development projects.” For more, read the full article.
Cincinnati and Dayton port authorities bond fund finalized
