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Ohio's Third Frontier Program Yielding 22% Annual Return, Heads to May Ballot for Renewal
The Ohio Business Roundtable's independent assessment of the outcomes and impacts from the first $473 million invested from Ohio's Third Frontier (OTF) Program since its creation in 2003 shows the program providing an annualized return of 22 percent - and climbing. Presented to the Ohio Department of Development Dec. 8, the report reveals product sales of OTF-funded projects already equal $440 million alone, nearly matching the state's investment. An additional $3.2 billion of follow-on funding has been secured for OTF projects as well. The rapid rate of return on the program's initial investments - even with the recession - suggest tax receipts from derived activities will surpass the state's investments as early as 2014. A renewal of the bonds supporting the program is likely to go before Ohio voters in May. Read the full presentation....