Posts Authored by Robert F. McCarthy

United Candle Company creating 100 new jobs in Muskingum County

A new company formed by USA Tealights, LLC, will lease the former Lumi-Lite Candle Company’s building in Muskingum County and bring 100 new jobs totaling $4 million in payroll to the area, according to a recent news release from the Zanesville Muskingum County Port Authority. United Candle Company LLC “is buying Lumi-Lite’s equipment, leasing their building and moving manufacturing from New Jersey to Ohio,” according to the release. The company “will create 100 new jobs with $4M in new payroll” and invest $1,815,000 in fixed assets and building upgrades. JobsOhio and the State of Ohio “are supporting the project with a $125,000 JobsOhio Grant and a 6-year Jobs Creation Tax Credit.” For more, read the full release at zmcport.com.

Economic Development, Financial Incentives, State Updates

Proposed $30M redevelopment would revive historic Dayton high-rise

Columbus-based developer The Windsor Companies has plans for a $30-million transformation of Grant-Deneau Tower, Dayton’s first modern skyscraper, into luxury apartments, a hotel, office and retail space, Columbus Business First reports. Eric VanZwieten, head of marketing and public relations for Windsor, “said there is no specific timeline for the project, as financing must be secured before it can fully move forward,” according to the article. Grant-Deneau is eligible for federal and state historic credits, and it is located in the downtown Dayton Community Reinvestment Area, making it eligible for a property tax abatement. Securing financing “through these means will likely be critical for the project’s success.” The building resides in an Opportunity Zone (see our April 5, 2019 blog post) as well. For more, read the full article

Economic Development, Financial Incentives, Project Finance, State Updates

Developer proposes mixed-use project near Columbus airport

An affiliate of Westerville-based Donald R. Kenney & Company Realty, Metro Development LLC, “wants to build a mixed-use development on 41 acres near John Glenn Columbus International Airport,” Columbus Business First reports. The project, to be located on Cassady Avenue at Ackley Place, would include “apartments, an ambulatory care facility, hotel and commercial space,” according to the article. The Northeast Area Commission recently voted to approve the application on the condition that the retail not include liquor sales and small cellphone stores. A rendering submitted with the plan shows the care facility, office buildings, and a hotel, as well as smaller commercial buildings along Cassady Avenue. For more, read the full article.

Economic Development, State Updates

Columbus approves incentives for $500M in major downtown projects

Arena District, North Market, and Franklinton development projects that will bring “much-needed additional housing and office space” to the downtown Columbus area recently received incentives from City Council, Columbus Business First reports. A $210 million expansion of the Arena District, featuring offices, apartments, and parking will include “a new headquarters for Chipotle Mexican Grill” that will create and retain nearly 400 jobs, according to the article. Columbus “will extend the existing TIF [tax-increment financing district] for the area to cover the project site” and provide $20 million in infrastructure support for construction for the project. The “$120 million expansion of the Gravity project in Franklinton” was granted a TIF and $2 million for parking components and streetscape improvements. Columbus will provide $2 million for the public plaza at the $192 million North Market mixed-use tower, and “will set up a North Market Capital Maintenance Fund with 75% of the bed tax collections from the hotel portion of the project for 30 years.” For more, read the full article.

Economic Development, Financial Incentives

Solon approves site plan for new Swagelok Global headquarters

A new “three-story, 119,000-square-foot” Swagelok Global Headquarters in Solon can move ahead after Solon City Council approved its site plan, Cleveland.com reports. Project plans “call for tearing down the existing one-story office building” and replacing it with the new structure that will wrap around the main plant, according to the article. Additions will include “a Welcome Center and Innovation Lab,” while “about 12,300 square feet of the existing manufacturing building will be renovated.” The expansion will accommodate an expected 400 new jobs and $87 million in new payroll over 10 years. For more, read the full article.

 

Economic Development, State Updates

New plans for Golden Bear redevelopment receive preliminary approval

Plans to redevelop Upper Arlington’s Golden Bear Shopping Center “gained traction” after the developer, Arcadia Development of Ohio LLC, presented a revised proposal to the city’s Board of Zoning & Planning in June, Columbus Business First reports. The new plan “is a five-story building with 21,000 square feet of ground-floor retail space, 18,000 square feet of second-floor office space and 79 condominiums,” plus a 2.5-story, 310-space parking garage, according to the article. Arcadia eliminated one floor and reduced the building’s height by 15 feet compared to the previous plan. Scott Patton, managing partner of Arcadia, “said the development was shifted east to remove some variance requests and improve walkability of the site.” Before construction can begin, a final development plan including more specifics must be approved. For more, read the full article.

Economic Development, State Updates

Developer plans $77M Artistry Cincinnati mixed-use project near Ohio River

Milhaus, an Indianapolis-based developer, plans to build a mixed-use development with an artistic touch, incorporating large-scale, permanent art pieces and a 2,500-square-foot gallery into the property where people will live and work, the Cincinnati Business Courier reports. Artistry Cincinnati will house 344 apartment units and 8,000 square feet of commercial space “in a quiet location along the beautiful Ohio River Trail,” according to the article. Milhaus “will work with local artists to design and build” the artwork, and the property “will have artist studios for artists who live there.” Cincinnati City Council is considering a “30-year tax increment financing district around the site,” which is within a federal Opportunity Zone (see our August 13, 2018 blog post). For more, read the full article

Economic Development, Financial Incentives, State Updates

Developer shares thoughts on Dayton’s downtown momentum

Jason Woodard, founder and principal of Dayton-based Woodard Development, has “played a key role in developing scores of projects” in the city’s downtown, including the Water Street District, and says the area continues to have “strong momentum in almost every aspect,” the Dayton Business Journal reports. Those aspects include strong housing, new restaurants and amenities opening, and an office market that continues to brighten with “significant activity from Stratacache and CareSource but also smaller growth companies,” Woodard said in the article. Woodard also noted “the recent progress of the Arcade should have a big impact on the core of the city.” The developer is currently working on projects with Crawford Hoying including Centerfield Flats, a new building for Marsh & McLennan, and several “other projects in predevelopment.” For more, read the full article.

Economic Development, State Updates

Columbus 2020 explores what’s next, after original goals nearly completed

The “seemingly ambitious” goals economic development group Columbus 2020 set in 2010 have nearly been met, and the organization is now determining “what’s next” and what its new name should be, The Columbus Dispatch reports. The original goals of 150,000 new jobs and $8 billion in new capital investment have already been hit; the goal of “a 30% increase in per-person income by 2020” is nearly met with a 28.5% increase through 2017, the most recent data available, according to the article. Kenny McDonald, Columbus 2020’s chief economic officer, said the group wants to “do a better job of showing how well the region is doing” and “to monitor factors such as housing prices, infrastructure, wage numbers, commute times and levels of disparity.” For more, read the full article.

Economic Development, State Updates

Tax abatement will help bring new life to former Anthem HQ

One of the largest suburban office buildings in central Ohio “is being positioned for redevelopment” thanks to a tax break from the City of Worthington, Columbus Business First reports. Worthington City Council granted a “10-year, 75% community reinvestment area property tax abatement for improvements” to the 207,961-square-foot former Anthem Blue Cross Blue Shield Ohio headquarters building to help “its new owner, Worthington 17 LLC, position the building for new life,” according to the article. Upgrades are expected to cost $4 to $6 million; estimates included in city documents “predict the property could host up to 400 jobs and $16 million in payroll once the renovation is complete.” For more, read the full article.

Economic Development, Financial Incentives, State Updates
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