The City of Columbus “signed its largest-ever economic development agreement this year,” for the Ohio State University Innovation District project that is expected to create 12,000 new jobs, add 1,500 residential units and contract with minority- and women-owned construction companies, Columbus Business First reports. Columbus signed “24 incentive agreements with companies that pledged 13,800 new jobs and promised $4 billion in capital projects” in 2021, according to the article. For the Innovation District, City Council approved a 40% abatement on income taxes and a tax increment financing (TIF) district to fund infrastructure including water and sewer lines, sidewalks and green spaces. Michael Stevens, the city’s economic development director, said the city’s economic development strategy is to make sure “the right jobs are coming to Columbus, then invest in housing and infrastructure for people to get to those jobs.” For more, read the full article.
Columbus’s incentive strategy attracted $4B in projects in 2021
