COLUMBUS, Ohio -- Thousands of jobs are set for Columbus -- with millions of dollars being invested into a local neighborhood.
The Ohio State University and the city announced the plan Tuesday afternoon.
The university is already committed to building a new 17-story hospital on the main campus.
City officials announced Tuesday that OSU will receive tax credits worth at least $10 million for bringing 6,000 jobs to the area.
Columbus Mayor Michael Coleman calls the new hospital the single-largest job initiative in city history, creating 6,000 new jobs at the main OSU campus with a $1.7 billion investment in the local community.
Both groups agreed that the money would be spent on revitalizing the area surrounding University Hospital East on the city's near east side.
OSU will first conduct a neighborhood assessment in the area.
OSU President Dr. E. Gordon Gee said OSU is transforming, "from one university to one community."
Coleman said, "Columbus must reap benefits of the health care industry."
Part of the investment will go toward the rehabilitation of houses in the area, down payment assistance and healthy lifestyle programs.
Details for those programs have not been announced.
The plan is expected to generate $77 million in income tax revenue over 15 years.
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