The NAIOP Cincinnati/Northern Kentucky chapter held a legislative breakfast last week to discuss federal and state policies of importance to the commercial real estate industry in Ohio. The event included remarks by U.S. Representative Brad Wenstrup (R-OH) and Director of the Ohio Department of Development Lydia Mihalik.

Rep. Wenstrup highlighted the passage of the Tax Cuts and Jobs Act of 2017 and its benefits in spurring economic development and job creation. National security concerns, infrastructure and the economy were also mentioned. He recognized the issue of adaptive reuse, a top NAIOP priority – the building that once included his medical practice was converted for residential use.

Mihalik spoke on the strength of state policies and programs under the DeWine-Husted administration in attracting commercial development throughout Ohio. She mentioned various incentives and tax credits, including the Transformational Mixed-Use Development Program. This tax credit is intended to provide a tax credit for the construction of a new or vacant building that will have a significant economic impact on the area.