A once-in-a-generation infusion of funding is coming to Ohio to help hard-hit communities recover from the pandemic. Over 2,200 local entities across Ohio are expected to receive ~$5.3B from the Treasury Fiscal Recovery Fund, part of the American Recovery Plan (ARP) that passed Congress in March 2021. Following a year where Ohio’s unemployment rate spiked to 15% (and was even higher for minority and non-credentialed populations, and in many already struggling geographies), local leaders have the opportunity use these funds to make bold, strategic investments that can accelerate equitable and inclusive economic recovery across regions and demographic groups.
These funds can be used for a range of investments, of which three are most relevant to JobsOhio: 1) Addressing the negative economic impacts caused by the public health emergency; 2) Serving the hardest-hit communities, populations, and families; 3) Investing in water, sewer, and broadband infrastructure. Funding is being allocated to local governments in two tranches, one in 2021 and the other in 2022. Treasury Fiscal Recovery Funds must be obligated before the end of 2024 and expended before the end of 2026.