Business briefs: Local patent, AEP files PUCO plan, farmer tax credit
Mansfield company assigned new patent
Mansfield Engineered Components Inc. has been assigned a patent developed by Brian S. White of Galion and James J. Collene of Bucyrus for "hinge assembly with slow close and/or slow open characteristics" for appliance doors.
AEP Ohio to continue reliability improvements, upgrades under proposed plan
GAHANNA — AEP Ohio has filed an Electric Security Plan (ESP) application with the Public Utilities Commission of Ohio that would invest $2.2 billion in reliability-focused projects over the six-year ESP term.
More than 5,500 miles of power lines and hundreds of pieces of substation equipment will be replaced under the proposal. Additionally, 247 circuits where customers have experienced five or more outages per year over the last three years have been identified. These circuits will be improved through equipment upgrades, by being rebuilt, or reconfiguring how power flows to improve reliability.
A Community Resiliency Pilot program would test the use of a backup generator that could help supply power when large powerlines are not able to bring power into an area. Additionally, batteries would be installed at substations to supply power while crews make repairs.
The ESP proposes several energy efficiency programs for residential customers, programs designed to help low-income customers benefit from energy efficiency, and a Senior Discount Program that would give qualifying customers 65 years of age or older a $5 discount off their monthly customer charge.
In addition, AEP Ohio is proposing to build on its Electric Vehicle Charging Program approved in the previous ESP. Through that program, more than 350 charging stations were installed by local governments, business and at multi-unit housing.
If approved as a filed, customers would see an average monthly increase of about 2%, or about $4, each year of the ESP term.
Ohio Department of Agriculture introduces Beginning Farmer Tax Credit
COLUMBUS — The Ohio Department of Agriculture said the Beginning Farmer Tax Credit is now available to those who’ve recently entered the field and those who help beginning farmers.
To qualify, a beginning farmer is defined as someone who:
• Is a resident of Ohio.• Is seeking entry to or has entered farming within the last 10 years.• Farms or intends to farm on land in Ohio.• Is not a partner, member, shareholder, or trustee of the assets the individual is seeking to purchase or rent.• Has a total net worth of less than $800,000, including spouse and dependent assets, as adjusted for inflation each year.• Provides majority of daily physical labor and management of the farm.• Has adequate farming experience or knowledge in the type of farming for which seeking assistance.• Submits projected earnings statements and demonstrates profit potential.• Demonstrates farming will be a significant source of income for the individual.• Participates in a financial management program approved by ODA.
Beginning farmers will need to complete a financial management program to qualify.
Along with beginning farmers, asset owners, or people or businesses that sell or rent farmland, livestock, buildings, or equipment to beginning famers may apply as well. In order for land to qualify as an asset, it must either total at least 10 acres or produce an average annual income of at least $2,500 for farming.
This article originally appeared on Mansfield News Journal: Mansfield company awarded patent, AEP files PUCO plan
