The Department of Economic Development, created in 2009, manages the Ohio Treasury’s linked-deposit programs, focusing on strategic investments that target job creation, job retention, and local economic stability. The linked deposit programs -- GrowNOW, SaveNOW, Ag-Link, andECO-Link – are introduced here.
GrowNOW offers Ohio small businesses a three percent interest rate reduction on eligible loans from participating banks. Since 2009 GrowNOW has provided about $67 million to small businesses seeking to grow and develop their efforts in Ohio. This investment has saved or created more than 9,000 jobs since January 2009. Learn how your small business can benefit from GrowNOW.
In April 2009, the Treasury launched SaveNOW, which merges financial education with a strategic investment in Ohio families. Participating savers receive a 3.25 percent bonus interest rate on savings accounts after participating in a year-long financial-literacy program. Six banks currently participate in the program and have already signed up over 8,300 SaveNOW “savers” across the state. Learn how to start a SaveNOW savings account.
The Ohio Treasury has invested more than $125 million to assist over 1,600 farmers across the Buckeye State. Farmers who benefitted from the Ag-LINK program had farms ranging up to nearly 9,000 acres. Follow this link to learn more about Ag-Link.
In the summer of 2009, the Ohio Treasury launched Energy Conservation for Ohioans (ECO-Link), a program that provides reduced rate financing to Ohio homeowners for weatherization improvements and energy efficient products in their homes. ECO-Link enables Ohioans to receive a three percent interest rate reduction on bank loans for five years. Learn about the benefits of ECO-Link.