Why Billionaire Companies Are BUYING Up Farmland in Ohio

Why are billionaires buying up farmland all across Ohio? Because it's not about crops anymore. It's about Intel. It's about Amazon, Google, Andoril, and massive data centers and warehouses that are popping up all over the Buckeye State. I mean, Intel alone has scooped up over 1,000 acres right here in Licking County that used to be farmland, now transformed into a giant chip factory. But it's not just American companies that are doing this. Foreign investors have piled in as well. And one has to wonder, why have they picked Ohio? And what does this mean for the future of Ohio real estate? That's what we're looking at today on The Ohio Housing Nerd. This is a very special video for me because I grew up right here in the county where Intel is now taking over the farmland. And I'm sure you've seen similar things play out where you live in Ohio. Drop it in the comments below. I wanna hear your story. When farmland is sold in Ohio today, it's usually not a farmer who's actually buying it. Many times, it's a billion-dollar corporation. For instance, Intel is now building a huge chip factory just about 10 miles from here. And to do that, they had to scoop up over 1,000 acres of Ohio farmland. And then you've got over 25 million square feet of warehouse space that's being developed right now in the Groveport area, which is just southwest of Columbus. And then when you build those warehouses, you need more homes, obviously. And so along with that 25 million square feet of warehouse, there's also about 300 acres that Groveport is now rezoned to build a huge residential development. Now, make no mistake, we need more new housing in Ohio. In fact, 50% of all Ohio houses were built before 1970. And there's not a lot of homes that you can live in that are in good shape outside of the city in rural areas. A lot of times, they're older and they need a lot of work. So we do need more new homes, but that's just more farmland that they're taking away. Then you've got Arsenal One, the massive drone facility that they're building in Pickaway County. And Andrill, the company that's building the facility, has ponied up nearly a billion dollars. But it's a massive footprint that they're taking out of the Ohio farmland again, over 500 acres. Again, comment below. I wanna know from you what you've seen in the Ohio farmlands. If you live in central Ohio, I'm sure you've driven by the Intel site. And if you haven't, you need to, because it's insane. And speaking of the data centers, Google, Microsoft have built countless data centers right here in central Ohio and throughout the Buckeye State. It's happening, folks, and it's happening while people go about their lives. But don't be fooled. Make no mistake, it is happening. Now, why is it happening? Let's talk about that right now. Well, the number one reason is it's cheap. Ohio farmland is relatively inexpensive compared to other neighboring states. Number two is location. Ohio is within a one-day drive of 50% of the population in the US. So it's on a great transportation hub. Number three, incentives. For example, Intel got over $2 billion in property tax credits. So all this development continues to happen with massive property tax breaks, while you guessed it, the average Ohioan's getting crushed by property taxes. Now, I've actually done several videos about property taxes in Ohio. You can check the latest one out right here, but it is crazy how much incentive Ohio is throwing at these big companies with property tax breaks in order to get them to move here. But let's dive into that fourth reason, the resource strain, because I think that's something few people really think about. For example, the Intel facility could use up to five million gallons of water per day. Then you've got electric, which is only around 12 cents a kilowatt hour, and that's about 22% below the national average. That, folks, is why data centers want to be in Ohio. Cheap land, cheap resources. But at the same time that these huge corporations are gobbling up our natural resources, you've got Ohioans struggling. According to Cleveland.com, Ohioans saw their electric bills jump over 50% in the last couple years. Comment below, have you seen your electric water bills go up? I know I have. Meanwhile, you've got farmland disappearing at the rate of about 31,000 acres per year. These projects don't just take land, they take water, they take power. And while billionaires and foreign investors lock in their low rates, Ohioans pay the price. Just take a look at your property tax bill, your water bill, your electric bill, and tell me if you're not paying the price for this development. So here's where I think it really hits home in the housing market. Here in Lincoln County, home prices have soared 40 to 60% since the Intel announcement. Property taxes up 30 to 40%. So as those developments like the Anduril facility in Pickaway County, as those things keep rolling down the road and get bigger and bigger, you're going to see property taxes rise, you're gonna see home values rise, you're definitely gonna see a strain on resources and a cost to just live as an Ohioan. But when you think about the housing market, it's not just US investors and US citizens that are buying these homes. In fact, in 2024, according to the National Association of Realtors, foreign investors piled into $56 billion in US residential real estate. A lot of that has happened here in Ohio. You may just not know it. And guess what? Nearly half of all those purchases were all cash. Imagine competing with that as a local buyer. And if you tried to find a house recently, I'm sure you're feeling that pain. Billionaires get incentives, foreign buyers pay cash, and Ohioans are locked out. And don't get me wrong. A lot of this development has the promise of more jobs with it. But Intel, for example, has promised upwards of 3,500 workers at the facility when it's all done. But here's the kicker. Not every promise actually pans out. Intel's chip factory has already been delayed to 2030, 2031. By the time I'm done with this video, it could announce that, hey, it's delayed till 2035. And the CEO of Intel has actually admitted it could be canceled altogether. Now, the fly in the ointment with that situation is the U.S. government. Yes, the U.S. government now owns 10% of Intel. So they'll probably print more money to prop it up if it does get in trouble and has a threat of actually canceling the project. I'm sure the U.S. government will just print away the problem and give Intel more cash. What do you think? Comment below. So Intel has promised about 3,500 jobs, permanent workers, and upwards of 10,000 construction jobs. So far, hasn't really materialized. And remember, if a project like that gets canceled, billionaires will walk away. They're not personally held responsible for the financial ruin of the area. They'll walk away, leaving Ohioans to hold the bag. But guess what? That farmland doesn't come back. This isn't stopping. Billionaire tech companies, massive corporations, and foreign investors all see Ohio as their personal playground where they can cash in. But here's the counterpunch. You can't stop it, but you can learn to navigate around it. Because despite these headlines, 80% of all single-family rentals in the country are owned by mom-and-pop landlords, those landlords that own less than five properties. Individuals like you and me, one of the goals of my channel is to make you aware of what's going on in the real estate market, give you the truth. I'm not going to sugarcoat it for you. I'm not going to give you an excuse to sit on the sidelines and wait for a housing crash or wait for somebody else's failure. That's not what I do. Local people still hold a stake and I think they're going to fight to keep it. You let me know what you think in the comments. But what can you really do as an individual to prevent further erosion of Ohio farmland and our way of life? One thing you can do is be aware of the zoning changes that are happening locally to you. Watch the newspaper if you have to, but certainly get online. And an easy thing to do is to go into Google, set up a search. You can actually set up an alert on your search in Google that will send you an email once a day, once a week, that tells you the latest updates to the zoning in your area. You also need to protest your property taxes if necessary. There's a link in my description below that will take you to a schedule of when properties are reassessed for taxes in Ohio. It's every three years, basically, is when they do it. And so don't be caught off guard. Know upfront when your property taxes are going to be reassessed because I can guarantee that bill is probably going to be higher. Support local farmers whenever you have a chance. Many of these folks have roadside stands set up where they sell their produce or they sell them to local restaurants and grocery stores, even farmers markets. So find out what's happening with that, where they're located, and support the local farmers as much as you can. The last piece is buy strategically before the foreign investors, the big corporations scoop up all the property because once it's gone, you're probably not going to sell it anytime soon. And don't buy real estate thinking it's a get rich quick scheme. Buy it for the long term. The more Ohioans purchase Ohio real estate, the better for the future of the Buckeye State. Because once billionaires and outside corporations control the land, they control everything. So why are billionaire corporations and foreign investors buying up all this farmland? Because it's cheap. Because it's strategic. Because the state hands out incentives to them. And because the land, the power and the water are all leveraged for the future. But the fallout is already here. Farmland is gone. Home prices are soaring. Electric and water bills are off the hook. And communities are under pressure. This is a new land rush we're seeing in the US and Ohio, I think, is ground zero. You're not going to stop this. So the real question is, will you adapt or will you get left behind? So you let me know what you think. Is this a revival or is this a takeover? Drop your zip code and your verdict in the comments below. My name's Jason Farrier. I am The Ohio Housing Nerd. And if you need help buying or selling real estate in central Ohio, hit me up. My contact information is below. Now, if you learned something on today's video, please subscribe to my channel. 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