166.05 Selection criteria.
166.05 Selection criteria.
(A) In determining the projects to be assisted and the nature, amount, and terms of assistance to be provided for an eligible project under sections 166.02, 166.06, and 166.07 of the Revised Code:
(1) Except as otherwise provided in division (A)(3) of this section, the director of development shall take into consideration all of the following:
(a) The number of jobs to be created or preserved, directly or indirectly;
(b) Payrolls, and the taxes generated, at both state and local levels, by the eligible project and by the employment created or preserved by the eligible project;
(c) The size, nature, and cost of the eligible project, including the prospect of the project for providing long-term jobs in enterprises consistent with the changing economics of the state and the nation;
(d) The needs, and degree of needs, of the area in which the eligible project is to be located;
(e) The needs of any private sector enterprise to be assisted;
(f) The competitive effect of the assistance on other enterprises providing jobs for people of the state;
(g) The amount and kind of assistance, if any, to be provided to the private sector enterprise by other governmental agencies through tax exemption or abatement, financing assistance with industrial development bonds, and otherwise, with respect to the eligible project;
(h) The impact of the eligible project and its operations on local government services, including school services, and on public facilities;
(i) The effect of the assistance on the loss of or damage to or destruction of prime farmland, or the removal from agricultural production of prime farmland. As used in this section, “prime farmland” means agricultural land that meets the criteria for this classification as defined by the United States soil conservation service.
(j) The length of time the operator of the project has been operating facilities within the state.
(2) The benefits to the local area, including taxes, jobs, and reduced unemployment and reduced welfare costs, among others, may be accorded value in the leasing or sales of project facilities and in loan and guarantee arrangements.
(B) Prior to granting final approval of the assistance to be provided, the director shall determine that the benefits to be derived by the state and local area from the establishment or development, and operation, of the eligible project will exceed the cost of providing such assistance and, except as provided in division (C)(2) of this section, shall submit to the development financing advisory council and to the controlling board a copy of that determination including the basis for the determination.
(C)(1) Except as provided in division (C)(2) of this section, prior to the submission provided for in division (B) of this section to the controlling board, the director shall submit to the development financing advisory council data pertinent to the considerations set forth in division (A) of this section, the terms of the proposed assistance, and such other relevant information as the development financing advisory council may request.
(2) The director is not required to submit any determination, data, terms, or other application materials or information to the development financing advisory council when provision of the assistance has been recommended to the director by a regional economic development entity.
(D) The development financing advisory council, on the basis of such data, shall make recommendations as to the appropriateness of the assistance to be provided. The recommendations may be revised to reflect any changes in the proposed assistance as the director may submit to the council. The recommendations, as amended, of the council as to the appropriateness of the proposed assistance shall be submitted to the controlling board.
(E) Financial statements and other data submitted to the director of development, the development financing advisory council, or the controlling board by any private sector person in connection with financial assistance under sections 166.02, 166.06, and 166.07 of the Revised Code, or any information taken from such statements or data for any purpose, shall not be open to public inspection. The development financing advisory council in considering confidential information in connection with financial assistance under sections 166.02, 166.06, and 166.07 of the Revised Code may, only for consideration of the confidential information referred to, and in the manner provided in division (E) of section 121.22 of the Revised Code, close the meeting during such consideration.
Effective Date: 03-14-2003