What is the Ohio Clean Energy Initiative?
The Ohio Clean Energy Initiative will raise $1.3 billion to create jobs in the renewable energy in the state of Ohio.
How will funds be used?
Funds will be used to build Ohio’s energy infrastructure, including investments and research in solar, wind, biomass, other energy-efficient technologies.
How will it be funded?
The Ohio Clean Energy Initiative will be funded through the issuance of general obligation bonds by the State of Ohio.
How do we get the most for our money?
Projects seeking funding will be strongly encouraged to participate with private capital and various federal, state, and local incentive programs to maximize Ohio’s investment in projects.
How many jobs will the Initiative create?
Based on similar jobs initiatives, conservative estimates well over 300,000 permanent jobs.
InvestOhio estimates 30,000 jobs on an investment of $100 million. See also: http://thirdfrontier.com/PerformanceMetrics.htm
What kinds of jobs will be created?
The Clean Energy sector demands jobs of all skill levels, from entry-level to mid-level to highly-skilled. The mix of jobs created will include permanent jobs, as well as, part-time and seasonal jobs. Also, since Clean Energy sector utilizes such a broad array of talent, it is very easy for workers from a different sector to transfer into a similar type position in the Clean Energy sector.
What will this cost Ohio?
The state spending in the Ohio Clean Energy Initiative will be repaid through the increased tax revenue it creates, it will not represent a tax increase for the Ohio tax-payer. In fact, the state of Ohio will make money since the amount of “taxable” capital and business attracted to the state will be 5 to 10 times larger than Ohio’s long-term investment (e.g. InvestOhio projects $1 billion in private investment alone on $100 million in tax credit investment, or 10-to-1 http://www.development.ohio.gov/InvestOhio/InvestOhio.htm; Ohio Third Frontier reports 8.6-to-1 on similar investment).
Are there limits on the size and type of projects?
No limits. All projects, regardless of size, will be considered on their own merits.
Are leveraged projects or parts of existing projects eligible?
Yes, existing and/or leveraged projects that meet the criteria are eligible for funding.
What is the purpose of the Ohio Clean Energy Initiative?
Create jobs. Build Ohio’s Energy Infrastructure. Increase Energy Independence. Invest in the Future of Ohio.
What areas of Clean Energy will the Initiative fund?
Solar, Wind, Biomass, Geothermal, Hydro, Battery and other Energy Storage Technologies.
Will projects be environmentally friendly?
The projects will definitely be environmentally friendly all around. We will monitor the projects to ensure that the highest standards are kept in this regard through the manufacturing and installation processes.
What about competition from abroad? Can we survive?
While competition from abroad is fierce with nations trying very hard to dominate entire market sectors by helping their manufacturers with substantial subsidies , we in the Ohio Clean Energy Initiative believe that American companies have the drive and the creativity to lead the world to a new era where clean energy is the norm, and that is the reason why we are putting forward this initiative, to give us the opportunity to compete in a level playing field, our playing field.
How popular is the Ohio Clean Energy Initiative?
Positive support for the Ohio Energy Initiative has been overwhelming. A poll conducted by ORC International for the non-partisan organization Civil Society Institute finds that 77% of Americans believe “the U.S. needs to be a clean energy technology leader and it should invest in the research and domestic manufacturing of wind, solar and energy efficiency technologies.
How can I help?
Sign petitions. Volunteer. Spread the word. Donate. Invest. Create a brilliant Clean Energy proposal. There are multiple ways to help the Ohio Clean energy Initiative. The first and easiest is by signing the petition and telling others about it. You can also help by either volunteering your time or by contributing economically to the effort. For more information, please click on the How to Contribute button for the various ways in which to help.
How do I contact you?
For direct correspondence, please click on the Contact Us button.