Development News

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Megaproject tax credit signed into law

In the coming decade, the state bird of Ohio may well be the construction crane.

That’s especially true in Ohio’s six largest metropolitan areas where more than two-thirds of Ohioans live. That’s because Ohio cities of more than 100,000 population, and places within 10 miles of them, will be the sites of megaprojects receiving anywhere from $240 million to $320 million in Transformational Mixed Use Development (TMUD) tax credits in the next few years.

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Drilling points to 2 Sherwin-Williams skyscrapers

Geotechnical drilling crews returned in recent weeks to the parking lots west of Cleveland’s Public Square to gather more data for the design of Sherwin-Williams’ (SHW) new headquarters. In so doing, the biggest question was whether they would drill into more than just one lot. The answer could provide insight as to what HQ facilities SHW might build and where. And how tall.

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30 Cleveland-area megaprojects that may benefit from a TMUD tax credit

After this Thanksgiving holiday week, state lawmakers say there’s a pretty good chance that the Ohio General Assembly will finally pass the long-sought Transformational Mixed Use Development (TMUD) tax credit. And there’s potentially dozens of so-called megaprojects that the TMUD credit could activate or take already active projects and push them across the finish line.

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Ohio ‘megaproject’ tax credit regains life at 11th hour

UPDATE: E&WD Committee passed Sub. SB 39 on Nov. 18

That rhythmic sound you’re hearing again is a pulse after eight months of silence. It is coming from Substitute Senate Bill 39, also known as the Transformational Mixed Use Development (TMUD) tax credit, which could be passed by the Ohio General Assembly by the end of the year.

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