This post contains an excerpt from Tracy Allen‘s presentation (both video and slides) on the Ohio Department of Development‘s (ODOD) financing programs. Tracy is the Director of the Office of Financial Incentives. The presentation was done at the 2009 OEDA Annual Summit.
Tracy calls the Direct 166 program the State’s “mother ship” and by that he means it’s a bread and butter program. It functions basically like a revolving loan fund. It can finance between $500,000 and $1 million (Tracy says even a little higher) of fixed assets for companies creating jobs. It’s take-out financing and will cover only part of a project’s costs.