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Rail Improvement Program

OVERVIEW

The Ohio Rail Development Commission (ORDC) provides assistance to companies for new rail and rail-related infrastructure. The goal of this program is to promote the retention and development of Ohio companies through the use of effective rail transportation. Additionally, companies who are considering adding rail to existing operations in the state are also eligible under this program. ORDC works closely with Ohio Development Services Agency, JobsOhio, and other public and private development related organizations to provide assistance to companies. For funding consideration, an applicant may need to provide some or all of the information below:

Grant funding is generally limited to projects where significant job creation or retention is involved (25 or more jobs). Applicants must commit to job creation/retention numbers subject to contractual clawbacks. Further, applicants are required to commit to rail usage, also subject to clawbacks.
 
ORDC loan financing is available to qualified applicants even when jobs are NOT being created or retained. ORDC's standard loan package is a five year loan term and an interest rate which equals 2/3 of prime at the time of the loan closing. Collateral or a letter of credit is required.
 
ORDC-assisted rail projects on publicly-owned infrastructure are generally subject to Ohio’s prevailing wage requirements. Please consult with ORDC staff for further guidance, including a determination of prevailing wage applicability, as projects are being developed.

 

ORDC Grant and Loan Application