ARC Grant Award Announcement: Opportunity Appalachia Technical Assistance

Apr 21, 2020

Opportunity Appalachia announced the selection of six Ohio projects that were successful in being awarded technical assistance grants to bring jobs, business support, and make investments in the Appalachian region. Of the six Ohio projects selected, two were from the Eastgate ARC District. These proposed projects are particularly important at this challenging time as local economies look to restart once public health concerns resolve. Opportunity Appalachia will work closely with both private investors and Federal agencies that have prioritized support for Opportunity Zone (OZ) communities, an essential component of our national economic recovery.  

 

The types of technical support to be provided by the Opportunity Appalachia program include:

  • development of investment prospectus, preparation of pro forma financial projections, structuring of projecting financing,
  • market research
  • demand assessment, operations planning, identification of project developers business operators, outreach for project finance
  • outreach to OZ investors
  • other types of assistance.

This support will be provided on contract by experienced business and development partners. It is anticipated that support of $30,000 – $75,000 will be provided for each applicant, averaging $50,000 per applicant. Congratulations to the following Ohio applicants:

  • Village of Somerset: Hotel Swisher, Somerset, Ohio
  • City of Chillicothe: Canal Warehouse Restoration, Chillicothe, Ohio
  • City of Zanesville: Zanesville Gateway Project 9118, Zanesville, Ohio 
  • Morgan County Improvement Corporation: Hotel project and expansion of existing regional grocer, McConnelsville, Ohio
  • City of Youngstown: 20 Federal Place, Youngstown, Ohio 
  • Green Industrial Manufacturing Ecosystem Inc. (GIME), Struthers, Ohio.

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