OH: Gov. DeWine, JobsOhio Announce $100 Million ‘Energy Opportunity Initiative’

While attending the Ohio Business Roundtable CEO Summit in Lewis Center recently, Ohio Governor Mike DeWine and JobsOhio announced the creation of the new JobsOhio Energy Opportunity Initiative, a $100 million fund for economic development opportunities over a five-year period. These funds will provide assistance to qualifying companies in the form of grants and low-interest loans to help offset costs related to natural gas and nuclear power production in Ohio.

“To continue Ohio’s growth and to create jobs, we must focus on energy,” said Governor DeWine. “Ohio must have an energy policy that ensures we have the supply we need for current and future demand, which will help keep costs reasonable.”

Funds from the Energy Opportunity Initiative will focus on:

• Engineering, right-of-way, and construction costs for new and existing natural gas infrastructure
• Site preparation for SMR generation
• Advanced training for Ohio’s workforce and the creation of a “nuclear energy center of excellence” around employment
• Incentives for attracting supply-chain companies for SMR manufacturing and production

JobsOhio will work with its seven regional network partners to identify projects and companies that could benefit from the Energy Opportunity Initiative. This initiative will be leveraged for attraction and expansion projects throughout the state.

States across the country are seeing an increase in energy demand. Ohio has abundant natural gas, which is why investments in Ohio’s shale-energy sector have soared past $111 billion since 2011. States that lack this natural resource are instead quickly pursuing newer technologies around nuclear power, including nuclear fission small modular reactors (SMRs). Ohio will need to tap into both capabilities to help businesses grow and thrive, and create jobs for Ohio families.

Natural gas infrastructure and SMR development are expensive but essential for Ohio to continue as a U.S. energy leader.

“Ohio is powering America’s energy story,” said JobsOhio President and CEO J.P. Nauseef. “With world-class shale resources, infrastructure, and talent, we’re leading the nation in the trillion-dollar Energy Super Sector. This initiative strengthens that momentum, fueling new projects, jobs, and America’s growing energy needs.”

“Ohio has the potential to be a global leader when it comes to energy generation and development,” said Ohio Business Roundtable President and CEO Pat Tiberi. “From our pipeline of nuclear technology to leadership in solar manufacturing and deployment, and our position in one of the largest shale regions in the world, Ohio is built for energy. If we embrace the opportunity this funding provides, economic development will follow, because in today’s world, energy is the foundation of economic success.”

Today’s news follows two other significant energy announcements in Ohio: a multi-billion-dollar expansion of a Centrus uranium enrichment plant in Piketon, and Westrafo opening a new manufacturing facility in Trotwood.

"Ohio is at the forefront of attracting businesses," said Centrus Energy President and CEO Amir Vexler. “I think putting energy at the forefront shows a lot of foresight and a lot of leadership. Affordable leadership in energy is the enabler for businesses to prosper in Ohio and the entire U.S.”