The Energy Loan Fund and Energy Works Program Working in Tandem
- The Finance Authority’s energy program is an economic development tool that provides financing for Central Ohio businesses, local governments and non-profits to fund energy efficiency improvements.
- The Energy Works program provides low-interest loans for Franklin County businesses, local governments and non-profits for energy efficient upgrades.
- The Finance Authority has issued up to $4.2 million in energy loans, expecting to save an average of 34% in energy costs per year.
With increasing competition for commercial tenants, it is more important than ever for Central Ohio building owners to offer sustainable spaces. In 2015, the Franklin County Commissioners approved a new initiative to keep Columbus green while attracting new businesses. Known as the Energy Works program, the Commissioners intend to commit $1.5 million annually over a five year period, totaling $7.5 million, to organizations looking to make energy upgrades to aging buildings and other green-energy projects.
The Columbus-Franklin County Finance Authority uses these funds, along with a mix of its own funds, to make loans ranging from $200,000 to $6 million. These loans can pay for energy-efficient upgrades, like at PNC Plaza, Trinity Lutheran Seminary and Trivium’s renovation of a vacant office building into a Class A office in Worthington.
“The Commissioners’ Energy Works program is an important part of our economic development efforts which not only promotes green energy improvements, but also makes Central Ohio a more attractive place to do business,” said Franklin County Commissioner President John O’Grady. “We look forward to continuing our partnership with the Columbus-Franklin County Finance Authority, and to funding more and more of these loans that will pay dividends for years to come.”
Meet Jeremy Druhot
Meet our new Manager of Programming and Projects, Jeremy Druhot. Jeremy joined us in May, and his primary role is managing our energy program. He holds a Master of Public Administration and a Bachelor of Arts in political science and Spanish from The Ohio State University. Prior to joining the Finance Authority, Jeremy worked as a Graduate Associate at AEP Economic Development.
If you’re interested in learning more about the Finance Authority’s energy program and how you can utilize it as an economic development tool in your community, contact Jeremy at [email protected] or call 614.429.0438.