Columbia Gas of Ohio launches new economic development fund
COLUMBUS, Ohio – Rebuilding Ohio communities and creating new employment opportunities are the goals of a new $1.55 million program created by Columbia Gas of Ohio (COH).
The company created the Jobs Growth Fund with pipeline supplier refunds in an effort to promote economic development in Ohio. The Public Utilities Commission of Ohio (PUCO) recently approved COH’s request to establish the fund, developed jointly by the company, the PUCO staff, the Governor’s Office, the Office of the Ohio Consumers’ Counsel (OCC), and the Ohio Department of Development (ODOD).
“This is an opportunity to present a new economic development incentive program to create new jobs in Ohio,” said Columbia Gas of Ohio President, Jack Partridge. “Right now, jobs are a priority for Ohio’s progress and growth, and through this fund, we look to help increase the opportunities for employment across our service territory.”
Capital from the Jobs Growth Fund may be utilized by a new company or an existing company looking to expand within the Columbia Gas service territory, and will be used to leverage other available grants and sources of funding. Qualifying projects should include one or more of the following:
- An initial capital investment of at least $1 million
- Create at least 50 jobs
- Add at least 20,000 sq. ft. of new floor area
Small businesses also are eligible to apply. The funds are not available for retail projects.
The Jobs Growth Fund will award up to four grants annually through April 2012 or until the funds have been exhausted. Columbia will work with representatives from local and regional economic development organizations and the ODOD Strategic Business Investment division to complete a grant application.
Columbia Gas of Ohio will begin accepting applications immediately.
Columbia Gas of Ohio, with headquarters in Columbus, is one of the nine energy distribution companies of NiSource Inc. (NYSE: NI). With approximately 1.4 million customers in 61 of Ohio’s 88 counties, it is the largest natural gas utility in the state. NiSource distribution companies serve approximately 3.8 million gas and electric customers primarily in seven states.