Advised several cities regarding unusual income tax issues and assisted them in tracking taxes associated with economic development projects.
Collaborating with government entities and private developers to build and implement creative strategies that promote investment, create jobs and enhance communities.
Economic development has the power to transform communities. Whether embarking on a signature, multi-million dollar mixed-use project or rebuilding a treasured historic business district, businesses and government entities can achieve optimal results using Ohio’s many economic development tools. Bricker & Eckler’s Economic Development team helps communities across our state flourish, working with them to understand and to take advantage of these programs.
We partner with government entities, developers and businesses to achieve their unique development objectives. Utilizing the economic development tools that best suit our clients’ strategic goals, we structure and layer resources, connecting our clients with the available financial incentives they need for growth. Our Economic Development team is poised to assist both public and private sector entities by providing cutting-edge financial, regulatory and other consultative solutions. We establish a collaborative environment to link Ohio communities to private commerce.
We provide economic development counsel for projects involving:
- Creative application of public and private financing
- Regulatory compliance
- Site selection support
- State and local permitting
- Tax incentives
Specific economic development projects include:
- Creating tax increment financing and special assessment districts
- Facilitating cooperative arrangements among political subdivisions and public-private partnerships
- Establishing and working with communities to maximize community improvement corporations, community reinvestment areas, enterprise zones, joint economic development districts, new community authorities and port authorities
Related Industries & Practices
Economic development is an important and historical element of Bricker & Eckler’s relationship with countless government agencies and public entities throughout Ohio. We assist state and local governments with infrastructure finance and negotiations with developers and business owners, with the ultimate goals of creating and retaining jobs, supporting innovation, and stabilizing and improving property values. Visit our Public Sector industry page.
Drawing on our extensive knowledge and experience with Ohio’s tax structure, we assist companies in navigating the tax implications that affect their operations. Sales and use taxes, the commercial activity tax (CAT) and the pass-through entity tax, including best practices for compliance, are just a few of the tax matters in which we specialize.
Collaborating with our firm’s national real estate practice, we work closely with real estate developers to meet the short- and long-term goals of a project. As a strategic partner, we identify options to close gaps in the capital stack in order to facilitate important development and redevelopment projects – which sustain and often transform communities.
Supporting entrepreneurial growth, we work with companies to identify and negotiate federal, state and local incentives. We use our comprehensive knowledge of available programs to help businesses both grow and retain jobs – and improve their bottom lines.
Our attorneys guide incentive recipients from start to finish. We begin with negotiation of award requirements, and partner with incentive recipients until all award requirements have been satisfied. For businesses with existing awards, we provide advice regarding outstanding requirements, either in connection with ongoing reporting obligations or in response to any investigation or enforcement actions by the award provider.
Successfully assist several school districts in addressing economic development issues and proposals for tax incentives, preserving thousands of dollars in revenue.
Assisted a college with various aspects of environmental regulation, including advanced energy and energy efficiency developments, power purchase agreements and leasing arrangements, in order to help them take full advantage of various financing opportunities.
Served as lender’s co-counsel in the negotiation and documentation of a variety of solar farm development and financing projects.
Assisted IRG Rubber City, LLC in negotiating a TIF structure with the City of Akron. Then implemented bond financing through Summit County’s Development Finance Authority Jobs & Investment Fund, leveraging the TIF to fund partial redevelopment costs of 1.7 million square feet of historic space into multiple uses.
Assisted several Fortune 500 companies in locating their operations centers, distribution centers and warehouses in Ohio. Projects involved rezonings, variances, environmental permittings and remediations, financings, and coordinating tax abatement and other economic incentives from state and local governmental agencies.
Negotiated the turnover of a major manufacturing and high-tech repair facility on a U.S. Air Force Base to a newly created port authority. The project facilitated the privatization-in-place of that facility and the retention of jobs. We assisted with leasing additional build-to-suit space for other tenants and the expansion of the resulting port authority-owned industrial park to create additional development sites and jobs.
Facilitated economic incentives and new construction financings for manufacturers through several of Ohio’s port authorities, including exemptions from sales taxes for portions of the construction.
Served as lead counsel for the borrower in connection with a $100 million series of financings to develop a consumer products manufacturing facility.
Counseled a luxury hotel in a riverfront urban renewal development project involving air rights, private and public financing and a joint venture of local businesses, including four Fortune 500 companies.
Helped a real estate developer refinance and upgrade its office park partially to improve energy efficiency by working with the developer to levy PACE special assessments, secure a PACE loan with the special assessments and pass the obligation through to tenants.
Served as bond counsel to a city on revenue bonds supported primarily by TIF revenues.
Successfully negotiated payments to offset lost revenues to total $1 million for a school district from an outlet mall developer over the taxation of a $100 million mall. Worked with the school district to evaluate levy options given proposed development.
Collaborating with government entities and private developers to build and implement creative strategies that promote investment, create jobs and enhance communities. For more information, please visit our DevelopOhio Resource Center.
Bricker & Eckler is a leader in property assessed clean energy (PACE) Financing and its implementation in Ohio. PACE laws allows property owners to borrow money through governmental loans or bonds to pay for energy improvements to their properties. The resource center explains energy SIDs and PACE financing and demonstrates how these tools can help local governments, industries, businesses or homeowners how to achieve their green energy goals. For more information, please visit our Energy SIDs & PACE Financing Resource Center.
JEDD income taxes cannot exempt personal income or business net profits, Ohio Attorney General advises
Attorney General opinion clarifies the taxing power of joint economic development districts
Governor Kasich presents annual State of the State Address