Economic Impacts of a Statewide Brownfields Redevelopment Program
Between 2002 and 2013, the Clean Ohio Revitalization Fund (CORF) program invested $400 million in catalytic funds to assist communities across the state in the environmental testing and cleanup of contaminated “brownfields.” Local investments were oftentimes made to complement state dollars and local communities were given the flexibility to define the best possible reuse of these sites. The program contributed to the redevelopment of more than 7,600 acres of contaminated land, and placed Ohio as a national leader in brownfields redevelopment.
A 2013 research study completed by GOPC found that state investment in brownfield redevelopment has a proven ROI:
- One state dollar invested through CORF generated at least $4.67 in new economic activity
- For every one job created or sustained through activities directly tied to remediating a brownfield, more than one additional job was indirectly created or sustained
- $500 million in household and business earnings were generated annually by remediated sites
- $1.4 billion were annually contributed to the state’s GDP, as a result of remediated sites
Statewide Economic Impact of Brownfields Redevelopment
Brownfield Success Stories
When a sustained, flexible statewide funding program for brownfield redevelopment is available, communities across the state experience economic development that can lead to jobs, increased tax revenue, business development, and new housing. To understand the economic impacts that economic development has when a statewide brownfield program exists, check out the in-depth case studies from cities across Ohio on the map below. These projects saw public and private partnerships to enhance communities across the state.
The Impact of CORF-Assisted Projects Across the state
The map below highlights where CORF-assisted investments were made between 2002 and 2013. As you can see, communities across the entire state felt the benefits of a statewide funding source - with many private partners assisting with projects.
Leveraging Ohio's Economic Potential
Ohio has the potential to bring in millions of dollars in additional investment, create jobs, and spur economic and community development through the return of a statewide brownfield redevelopment program. Through regulatory reform and increased investment of catalytic funds, the state can recoup the economic benefits once felt by a sustainable brownfields program.