Ecofriendly Electrical Power Incentives In Ohio

State Desires to Offset Job Loss by Investing in Alternative Energy

Ohio is investing heavily in renewable electrical power like wind and solar energy hoping to create jobs in a state hard hit because of the country wide recession and higher than average unemployment.

The state's Third Frontier Project was created in 2002 and is the largest commitment ever in Ohio to expand research, development and implementation of high-tech manufacturing technological know-how, including alternative energy in Ohio. The $1.6 billion initiative is directed at aiding new businesses while bolstering current ones over the next 10 years.

Third Frontier and Job Stimulus Plan

The state not too long ago awarded $9 million in grants under Third Frontier to wind turbine and solar power companies, including solar power start-up Xunlight, in Toledo, and solar power component part manufacturers Tremco, Inc., of Beachwood, and SCI Engineered Materials, Inc., of Columbus. Wind turbine component part manufacturers WebCore Technologies, Inc., of Miamisburg, and Parker Hannifin Corp., in Cleveland, were also named as grant recipients. Comparable grants have gone to Ohio businesses involved in fuel cell research and development with more than $4 million granted lately.

In 2008 the state legislature adopted the Ohio Job Stimulus Program, a 3 year program which includes $150 million for grants and low interest rate loans aimed towards energy development, including $66 million for so-called clean coal technology and $84 million for non-coal energy development including wind and solar. Grants for non-coal alternative energy companies range from $50,000 to $250,000, while low interest state loans range from $1 million to $2 million.

Hundreds of Companies in Green Tech

According to Environment Ohio, a citizen-based environmental advocacy organization, a new report entitled "Growing Ohio's Green Energy Economy" shows more than 440 businesses and research institutions in the Buckeye State are involved in high-tech, alternative energy development in the solar, wind, biomass, geothermal and fuel cell industries.

Ohio Gov. Ted Strickland's office has publicly stated the state's renewable green energy industry supported over 6,000 jobs and generated approximately $800 million in revenues in 2006 alone. Industries in Ohio involved in increasing energy efficiency employed around 500,000 Ohioians and generated over $50 billion in revenue.

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