When most people think of a port authority they think of a seaport with a big container ship unloading cargo onto a dock.  That is not the case in Ohio where port authorities are used in economic development and recreational pursuits. The Wood County Port Authority can own, lease, and finance land, buildings and equipment for creditworthy companies.  Projects in Wood County that have utilized the Port Authority financing/leasing structure include the O-I World Headquarters in Perrysburg, Ohio, the Newell Rubbermaid distribution facility in Middletown Township, the Home Depot distribution facility in Troy Township, and the Home2 Suites Hotel in Perrysburg, Ohio.

The Wood County Port Authority can help no matter how your business or public entity is structured.

Small business: Small and medium sized businesses can gain access to the national bond market to help finance new construction, facility expansions or acquisition of real estate to help you grow and remain competitive in a global market.

Large businesses: Ports can help larger businesses through synthetic leases to reduce the costs associated with owning or leasing a building.  In a synthetic lease, the port authority owns the building and leases it back to the company.  Alternatively, the port can own the land and lease it to the company.  An added benefit of a synthetic lease is that all materials used in construction or renovation are exempt from state and local sales taxes which may be as high as 10% of the project budget.

Energy efficiency: Businesses large and small can benefit from PACE bonds (property assessed clean energy) which can provide 100% of the costs associated with energy efficiency improvements.  PACE bonds are secured by an assessment against the property that can be used to upgrade roofs, heating and cooling systems, building insulation, lighting, renewable energy or other projects that will eventually pay for themselves in the reduction of the amount of utilities consumed by the company.

Governments: Governments can use ports to dispose of excess property without going through public bid when land can be better used for economic development purposes instead of the possibility of speculative buyers purchasing the land.  Governments have also used ports to serve as the principal financier or construction agent for office buildings, public parking garages and other economic development projects.