2019 Annual Report: Investing In Our Environment, Building A Stronger Ohio
OAQDA Update on the COVID-19 Emergency
Notice on Project Type
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Ohio is ripe with economic opportunities, and many leaders recognize that setting sustainability goals is good for the environment, good for the local economy and good for business. The Ohio Air Quality Development Authority (OAQDA) works closely with businesses and community leaders to not only mitigate air pollution, but to take action and make sure our air is as clean as possible.
Every day, the Authority incentivizes businesses to make better investments in cleaner, more efficient technologies by providing air quality revenue bonds. Our work benefits companies of all sizes in many communities throughout the state. For Ohio small businesses, we expanded our grant assistance program to serve 16 businesses in 2019, the largest amount of support provided to date. In keeping with our mission of protecting Ohio’s air as a valuable natural resource, we support these businesses as they work to comply with federal regulations, such as the Clean Air Act, and we encourage and prioritize the funding of projects that go above and beyond their sustainability goals and commitments to air quality.
Since its inception in 1972, the Authority has worked with many national and international companies as they endeavor to sustain or grow their businesses in Ohio. These collaborations have resulted in the creation of more than 800 jobs in the past five years alone and have boosted local economies while supporting advanced sustainable practices around air quality and energy efficiency.
The Authority works to provide cost-effective financing tools throughout Ohio to help businesses, governments and communities thrive both economically and environmentally. At the core of this work is our mission to help Ohio’s businesses meet the challenges of running a profitable company while complying with federal clean air regulations. We conduct this work with an eye toward the best interests of the business, the community in which it operates, and the environment of Ohio. Ultimately, we strive to be a responsible partner in the decisions Ohio’s communities face with respect to preserving the air we all breathe.
In 2019, OAQDA issued more than $450 million in air quality revenue bonds for 29 projects – more than the Authority has issued since 2009. In fact, this year we doubled our five-year average number of projects.
We are grateful for our strong relationships with community leaders and our partnerships with the public and private organizations we serve around Ohio. Our success is demonstrated by the more than $3.3 billion in currently active bonds for air quality projects, which have helped to create hundreds of direct jobs throughout the state.
The Authority offers a variety of flexible financing tools in the form of tax-exempt and taxable bonds. These tools are designed to provide debt support while also encouraging energy-saving improvements that decrease utility bills and reduce air pollution.