FOR IMMEDIATE RELEASE
May 16, 2006

Columbus, OH -- Lieutenant Governor Bruce Johnson today announced that the Hamilton County Development Company (HCDC) has been awarded $500,000 from the Industrial Site Improvement Fund (ISIF), which provides grants to improve qualified commercial and industrial areas. The funds will be used to revitalize and develop a large, vacant former manufacturing site in the Village of Lockland

"The ISIF is a valuable tool that is making it possible for Ohio communities and businesses to create new infrastructure, and to upgrade existing facilities for future job creation," said Johnson, who also serves as state development director. "Lockland has a number of older industrial facilities and this project will allow a vacant site to be reused for positive economic benefit to the community and the region."

The Hamilton County Development Company, Inc. will invest $4.1 million for the acquisition, demolition and remediation of a vacant 27-acre former manufacturing site in the Village of Lockland. The project will eliminate one of the largest brownfield sites in Hamilton County and create a new development-ready site conducive to mixed uses, including office, warehousing, distribution spaces and commercial operations.

This project represents Phase II of the 100-acre Hamilton County Regional Business Park, which is expected to bring new private investment and job creation to the community. The project will be completed in three phases; the final phase will be to acquire adjacent land for demolition and remediation. The Hamilton County Development Company will partner with the project developer to market the property to new end users.

The ISIF is a reimbursement grant program that provides up to $500,000 in assistance to eligible Ohio counties for the purpose of improving qualified commercial and industrial areas. The proposed project site must be used primarily for commercial or industrial activities, and funding can be used for commercial and/or industrial land and building acquisition; public and/or private infrastructure improvements; expansion and/or renovation of existing buildings; and environmental remediation.

ISIF applications are evaluated based on the county's distress level, the project's feasibility and implementation plan, local and private financial participation and the economic and community impact of the project.