Earlier this month,
The Greater Cincinnati Energy Alliance and the
Port of Greater Cincinnati Development Authority announced a formal partnership to develop a suite of economic development programs that will support energy efficiency and renewable energy projects for commercial and industrial properties throughout Hamilton County. The partnership will allow businesses to access the latest tools to help plan and finance energy improvements.
The programs are set up to provide services throughout the entire project process to enable property owners to invest in energy efficiency improvements, driving down operating costs and freeing up capital for further reinvestment or expansion.
"We are thrilled to be able to partner with the Port Authority to bring new energy financing tools to regional businesses,” says Andy Holzhauser, Chief Executive Officer of the Greater Cincinnati Energy Alliance. “The Energy Alliance has worked diligently over the past three years to develop an infrastructure that has supported over $20M of investment in energy efficiency in almost 50 commercial buildings across the region. Connecting with the Port's financing expertise will ensure property owners have a strong team to drive wide-scale adoption of these services."
"The Energy Alliance is a great partner in this effort to renew value in our region's building stock through greater energy efficiency," says Susan Thomas, Vice President of Public Finance for the Port Authority. "Our agencies bring different areas of expertise to this program. By working in tandem, we create a comprehensive solution for the building owner—from initial assessment to innovative financing to performance metrics.
"During some of our initial site visits, we are seeing companies that are paying monthly energy bills totaling five, and even six figures," Thomas says. "These are inefficient properties that house vital business operations. Through this new program, we can drive savings and sustainability, which are good for the bottom line."
Holzhauser says a more sustainable region will not only improve the environment, but also the local economy through increased business productivity, higher property values, and the creation and retention of local jobs.
"This partnership will make this possible on a large scale throughout Hamilton County," he says. One of the team's first priorities will be rolling out GC-PACE, a tool to finance energy efficiency and renewable energy investments through voluntary tax assessments, thereby enabling access to low-cost, extended term capital.
To find out more, visit The Greater Cincinnati Energy Alliance's
website here.
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