We’re thrilled to announce that Vista Site Selection assisted seven projects that earned benefits as part of Ohio’s Transformational Mixed-Use Development Program (TMUD). Vista helped seven clients collect $58 million in awards, a total of 58% of the funds distributed during 2024 and 77% of the number of winning projects.
Ohio’s TMUD program provides a tax credit against development costs resulting from construction of a project that will spur development or create a major economic impact in its region. This includes new construction or improvements to vacant buildings and must be a mixture of retail, office, residential, recreation, structured parking and other uses. Applications are divided based on the location of the development, qualifying either as “major city” or “general” developments.
Vista helps our clients attain these tax credits by preparing the applications as well as writing economic impact studies.
This year, Vista’s TMUD-earning clients are developing projects in Columbus, Cincinnati, the Mahoning Valley region (Northwest Ohio) and the Southeastern Region.
Here are some statistics to sum up projects supported by Vista during the most recent round of TMUD credits:
Vista represented the highest-scoring project that was eligible (applications are scored on a 100-point scale). This is the second consecutive year we have done so.
Vista has represented every project over the past two years that has scored more than 80 during the grading process.
Vista represented every “General” development that earned TMUD funds, including the highest-ever score for a “General” project.
Vista represented the first development ever to earn TMUD funds for multiple phases.
The awarding of the 2024 TMUD funds is a continuation of our past successes in representing Ohio developments. Across the program’s history, we’ve assisted applicants in nearly every corner of Ohio – including Columbus, Cleveland, Cincinnati, Dayton, Youngstown, Canton and others – to earn TMUD awards for projects that create jobs and boost both the state and local economies.
Vista has represented nearly 40% of developments that have received credits and the $195 million that have been awarded to our clients is nearly half of all TMUD funds distributed during the program’s history. We have represented the projects that received the largest dollar-amount awards ever given for both the “major city” and “general” categories. We have also represented five of the top six highest-scored applicants, including the highest individual scores for both “major city” and “general” developments.
In short, we’ve got quite a track record for development in Ohio.
Our TMUD accomplishments are attributable to numerous factors. First, our team’s access and utilization of geographic data and analytics allows us to articulate a site’s prospects and success story, possessing qualities that put it in position to impress institutions such as the Ohio Department of Development. Following the awarding of credits, we work with clients to ensure compliance and guarantee realization.
Want to earn tax credits or other incentives for your Ohio development project (or any other state)? Reach out to us and let’s discuss your project.
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