East Ohio Hospital, LLC is raising capital from EB-5 investors to fund the expansion of East Ohio Regional Hospital to a behavioral health facility for drug and alcohol treatment with inpatient and outpatient health units and a residential rehabilitation unit in Martins Ferry, Ohio (the "Project").
The Project is located in Martin's Ferry, Ohio, and qualifies as a high-unemployment targeted employment area.
Ohio has the fifth largest opioid overdose death rate in the United States. West Virginia, which boarders the location of East Ohio Hospital, has the highest rate in the United States. The county in which the Project is located, Belmont County, has 23.4% more opioid deaths than the United States average. Currently, only about 47% of adults with mental illness in West Virginia and Ohio receive any form of treatment due to lack of access and these areas are designated as "Medically Underserved Areas".
The Project is expected to create 1,278 jobs, resulting in an excess of 878 jobs or approximately a 220% job cushion.
The total cost of the Project is $63,800,000. The Project is raising up to $32,000,000 from 40 EB-5 investors through a Private Placement Memorandum dated July 28, 2022.
The Project is sponsored by Smith Central Regional Center, LLC.