$8.2M in funds are available for Rural Industrial program
COLUMBUS — Ohio Rep. Jack Cera, D-Bellaire, announced the release of $8.2 million in funds for the Rural Industrial Park Loan program (RIPL) by the state controlling board. The program promotes economic development through low-interest loans.
Local municipalities, townships, non-profits, port authorities, community interest companies and counties in rural areas of the state can apply for funds that help promote job creation through construction, renovation, or rehabbing buildings at industrial parks.
“These investments can make a huge impact in rural communities and can provide numerous jobs,” Cera said. “This program has helped in developing several sites throughout Appalachia.”
Cera and Ohio Rep. Don Jones R-95th were key players in getting the program reinstated in December of 2019.
Although designed to promote economic development in rural areas, it is not restricted to just rural areas, and has played a role in improving the economic welfare of Ohioans throughout the state.