The $5 million reserve increase allows both organizations to increase lending capacity.
The Dayton-Montgomery County Port Authority serves a 14-county service area around Dayton.
The fund is rated A- by S&P Global and due to this investment grade, the Dayton and Cincinnati ports can offer “very competitive, long term, fixed-rate financing,” they said in their release.
Both Port authorities’ lending rates are the lowest of any ports in the Southwest Ohio region, Geraghty said.
“We are proud of our SWORBF capabilities and excited about our increase in lending capacity which allows us to fulfill our regional economic development mission,” said Mary Jean “MJ” Miller, Dayton-Montgomery County port board chair and attorney with Thompson Hine, LLP. “We successfully collaborate with communities throughout Southwest Ohio to help drive development and job creation and help both for-profit companies and non-profit organizations thrive.”