Tag: economic

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Business Development News

Community Development Corporations honored for their work, impact in Cincinnati

The Community Development Corporations Association of Greater Cincinnati (CDCAGC) celebrated nine individuals, one area project, and one local community development corporation for their achievements and efforts in revitalizing Cincinnati’s communities last month.

The awards come at a time when CDCs are facing difficult circumstances as they attempt to do more with less in a down economy. From 2009 to 2010, the CDCAGC is funding fewer community development corporations, but is remarkably creating more housing units with approximately $100,000 less in funding. In 2009 local CDCs developed 34 housing units, while in 2010 they are developing 89 housing units with an additional 140 units in pre-development stages.

“When the private market doesn’t function it creates a need for community development corporations,” said Patricia Garry, Executive Director, CDCAGC. “Utilizing the process our CDCs use may take a bit longer upfront, but implementation happens in a second since there is already community support for the project.”

This year’s award winners represent a broad collection of organizations and individuals, and the first year someone from Hamilton County has won the ‘Most Outstanding Government Staff’ award. Also included amongst this year’s winners is Kevin Hughes who was recognized as the ‘Most Outstanding Volunteer’ for his efforts to create a renter equity program. The ability to generate equity as a renter is a new concept that was started in Cincinnati. With the help of the City of Cincinnati and the CDCAGC, Cornerstone Corporation for Shared Equity hopes to double the number of units involved in the program while also spreading the renter equity concept around the nation.

“The renter equity concept is a real game changer because poor residents can build wealth and landlords are able to save a lot of money on maintenance, lower resident turnover, and reliable rent payments,” Garry explained. “Kevin traded his 27th floor view of Great American Ball Park for a ground floor office in Over-the-Rhine with bars on the windows, and is now working as a volunteer to build both Cornerstone and the renter equity concept.”

  • Most Outstanding Director: Andy Hutzel, Over-the-Rhine Community Housing
  • Most Outstanding CDC Staff: Judy Mattingly, Cincinnati Housing Partners; Joe Gorman, Camp Washington Community Board
  • Most Outstanding Volunteer: Kevin Hughes, Cornerstone Corporation for Shared Equity
  • Most Outstanding Lender: Kevin Donovan, Fifth Third Bank; Chris Urti, Fifth Third Bank
  • Most Outstanding Consultant: Chip Williamson, Chameleon Architecture
  • Most Outstanding Government Staff: Susan Walsh, Hamilton County; Karen Alder, City of Cincinnati

Garry also recognized Cincinnati-based Fifth Third Bank for their leadership with the ‘Most Outstanding Lender’ award which included recognition for two Fifth Third employees instrumental in making project financing and loans possible for local community development corporations.

The ‘Most Outstanding Project’ award went to the Jimmy Heath House in Over-the-Rhine that is creating 25 housing units with on-site services meant to treat the chronically homeless and provide them with permanent supportive housing. The project is also restoring five buildings, in the historic neighborhood, that have long sat vacant on Odeon Street. The ‘Most Outstanding Collaboration’ award went to Cincinnati Northside Community Urban Redevelopment Corporation for its work with the Northside Business Association, Northside Community Council, NorthSide Bank, and active churches in Northside to help revitalize their community.

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Development News Politics Transportation

Reconstructed Fort Washington Way generating variety of societal advances

Each Wednesday in July, UrbanCincy is highlighting Fort Washington Way (FWW), the I-71/US-50 trench bisecting the Cincinnati riverfront from its downtown.  Part one of the series discussed what the area looked like prior to reconstruction a decade ago, and how that reconstruction made way for the development along Cincinnati’s central riverfront.  Last week’s article discussed some of the unseen assets included in the project that continue to benefit Cincinnatians in a variety of ways today.  This week’s piece will highlight even more of the unique features that the 1.25 mile-long highway boasts.

In addition to the combined sewer overflow fix along Cincinnati’s central riverfront through added containment capacity, engineers also increased the capacity for municipal water under Third Street.  This led to an opportunity for the City of Cincinnati to share its high-quality water supply with communities in Northern Kentucky through a new tunnel built underneath the Ohio River.  Those in Kentucky benefit by receiving clean water, and the City of Cincinnati benefits from an increased revenue stream.

On the southern side of the FWW trench is a wall that supports Second Street and conceals the Riverfront Transit Center, but it also serves as the primary flood protection for downtown Cincinnati.  Cincinnati choice to build its flood protection into its everyday infrastructure maximizes utility while also conserving urban space.  Since this wall was engineered to lift Second Street above the floodplain, it effectively extended the street grid south while also maintaining safety.

The benefits discussed so far were not accomplished in isolation.  In fact, the reconstruction project was helped paid for by entities in the state of Kentucky including the Transit Authority of Northern Kentucky (TANK) who saw better connections with Cincinnati as an economic gain.  The project fixed the entanglement of on- and off-ramps to the bridges over the Ohio River, and has led to a better transfer of people and goods across the state line.

The fact that the Cincinnati area calls so many large and lucrative companies home demonstrates that the city once had the ability to draw major economic players to the region.  The fact that they have stayed demonstrates that the area has done well to keep up with changing business, technological, and infrastructure demands.  One such example of keeping up with changing times can be found buried under Third Street, behind the northern wall of Fort Washington Way, where engineers included the capacity for a bundle of fiber optic cables, approximately three feet in diameter, spanning the length of the roadway.

This dark fiber has the capability to be activated and connected with a larger fiber optic network when needed, ensuring that downtown Cincinnati has the ability to stay at the cutting edge of technology.  Possible uses include connecting large-scale data centers to the Internet backbone, or providing high-speed fiber-to-the-home Internet access for Cincinnatians, such as Cincinnati Bell’s FiOptics or Google’s Fiber for Communities.

Next Wednesday’s article will conclude the series, and look to the future of the area.  What can be done with the space over the FWW trench in terms of the capping?  How will future development be impacted?  And, ultimately, will the reconstruction of Fort Washington Way reestablish the strong ties that once existed between Cincinnati and its riverfront?

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Business Development News

Greater Cincinnati Energy Alliance takes efficiency blitz to Wyoming

Volunteers from the Greater Cincinnati Energy Alliance (GCEA) knocked on more than 700 doors in the City of Wyoming this weekend as part of their Wyoming Energy Efficiency Blitz. On Saturday, the volunteers went door-to-door offering energy efficiency kits and speaking with homeowners about the group’s home energy audits and other efficiency measures that can help make your home more ‘green’.  The energy efficiency kits included compact fluorescent light bulbs, low-flow faucet aerators, and other tools to help save money.

In April, GCEA received $17 million for energy efficiency retrofit projects through the American Recovery & Reinvestment Act, making this blitz possible. The grant was awarded through the U.S. Department of Energy’s Retrofit Ramp-Up initiative that is a collaborative effort to reduce energy costs for thousands of home and business owners throughout the Cincinnati region.

Stuart Schaefer, a Wyoming resident of 4 years, received an energy audit just a few weeks ago that has already led to efficiency upgrades and monthly utility savings.

“Once they came in and showed me where all the drafts were, I knew the exact spots that I needed to insulate,” Shaefer said. “My daughter has been living in a smaller downstairs room because the upstairs room was just too hot, now she can move upstairs where there is more space.”

Through the use of subsidies, GCEA is paying for close to half of Schaefer’s upgrade, resulting in just $1,700 of costs for Schaefer with estimated utility savings of $550 annually.

“My daughter is happy, I’m saving money, I’m saving the environment…it’s been a great experience, a super opportunity,” Schaefer said. “Some of my neighbors have seen my improvements, and have already scheduled their audit.”

As part of the blitz, Wyoming homeowners and homeowners from surrounding communities are invited to GCEA’s Wyoming Community Efficiency Night this Wednesday from 7pm to 8pm at the Wyoming Civic Center (map). The event will provide another opportunity for residents to receive a free energy efficiency kit, as well as give homeowners the opportunity to talk with GCEA energy professionals about home energy efficiency and the economic incentives involved with making your home more energy efficient.

“The Greater Cincinnati Energy Alliance is excited to provide energy efficiency kits, reduced cost energy audits, and resources to ensure that home energy upgrades are simple and affordable,” says GCEA’s Executive Director Andy Holzhauser. “These energy efficiency improvements have the ability to put money back in the pockets of Wyoming residents through savings on their monthly utility bill.”

If you are a homeowner in Hamilton, Boone, Kenton, and Campbell counties, then you are eligible for energy audits and efficiency incentives (25-40% of the project cost). For more information just visit GCEA’s website.

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Business Development News

Moerlein Lager House to open August 2011, new details announced

Details on the much-anticipated Moerlein Lager House were announced today by Cincinnati Mayor Mark Mallory and the development team which consists of the Cincinnati Park Board, Christian Moerlein Brewing Company, Cunningham Restaurant Group, Tilsley & Associates Architects, Schumacher-Dugan Construction, Cincinnati Growth Partners and the City of Cincinnati. The $4 million restaurant and microbrewery will boast a large outdoor biergarten capable of seating 600 people in addition to the 500 people that can be held inside the restaurant.

“This is huge for the Park Board,” said Willie F. Carden, Jr., Director of Cincinnati Parks. “The Moerlein name is synonymous with the history of Cincinnati and beer, and it’s just huge to bring that back. The Moerlein Lager House will really identify the city with its brewing and beer heritage.”

The brewery portion of the Moerlein Lager House will produce 5,000 barrels of beer annually and will be open for tours. Menu items will also be prepared to compliment the beer and replicate items often found on menus in Over-the-Rhine’s 19th Century biergartens.

“Our mission is to breathe new life and vigor into the grand brewing tradition that made Cincinnati one of the world’s greatest brewing meccas over a century ago,” said Greg Hardman President & CEO of Christian Moerlein Brewing Company. “The Moerlein Lager House in Cincinnati Riverfront Park will become an economic driver that will significantly propel Cincinnati’s heritage tourism industry. Patrons will experience what is authentic and unique about this city and its compelling history with every visit to the Moerlein Lager House.”

The development team stated that the 15,000 square-foot, two-story building will be built to LEED standards, and will include a geothermal heating and cooling system, green roof, and sun shading features among other things. The team also said that they have set a goal of 30% Small Business Enterprise hiring on this project.

The new structure is being built in conjunction with phase 1 of the new $120 million Cincinnati Riverfront Park, and once complete, will feature expansive views of Great American Ball Park, the Ohio River, Paul Brown Stadium, Roebling Suspension Bridge, and the new park.

“The design of the Moerlein Lager House was inspired by its magnificent location, the buildings surrounding it, and the design elements of the park, created by Sasaki Associates of Watertown, Massachusetts,” said Greg Tilsley, founder, Tilsley & Associates Architects. “ We wanted to conceive an almost unexpected, iconic building that would convey both a sense of our region’s future and honor for its past. So the dramatic use of glass and steel on the exterior is ‘outward’ and ‘forward’ looking’; while materials for the interiors, such as wood for beamed ceilings, bricks from former breweries, and stone are more reminiscent of the region’s legendary brewing heritage.”

In June 2010, Cincinnati City Council approved a 40-year lease for the Moerlein Lager House. The terms of the agreement maintain the City of Cincinnati as the owner of the restaurant site with no rent being paid in the first year of operation. After that point, the Moerlein Lager House will $150,000 rent in 2012, and $225,000 in rent annually each year after that. The agreement also requires payment of 1.875% of the total gross sales to the City. According to officials, this money will go towards covering operation costs of the new 45-acre Cincinnati Riverfront Park.

“Every little bit helps because what is not raised will be covered by the taxpayers,” Carden said about the the park’s costs. “We are doing everything we can to mitigate taxpayer responsibility and our seven different revenue centers at the Cincinnati Riverfront Park, including the Moerlein Lager House and one other restaurant, will help to do that.”

Construction on the new Moerlein Lager House will being fall 2010 and is expected to create 150 construction and 100 full-time jobs. Once complete in August 2011, the Moerlein Lager House will be open 11am to midnight Sunday through Wednesday, and 11am to 2am Thursday through Saturday.  It will feature live entertainment and is expected to become a major anchor of Cincinnati’s central riverfront redevelopment.

“This new establishment will contribute mightily to the vision of Cincinnati Riverfront Park as the ultimate destination park,” said Willie F. Carden, Jr., Director of Cincinnati Parks. “What’s more, every member of the Moerlein Lager House team that is creating this unique restaurant and brewery is rooted in this community. They make their lives and livelihoods here and so they are driven to deliver a world-class restaurant and brewery to the citizens of Greater Cincinnati and to our region’s new destination park. We have always had outstanding local talent in this community—and we are bringing the very best to the table on this project.”

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Business News Politics

Cincinnati designated consumer marketing Hub of Innovation & Opportunity

Ohio governor Ted Strickland traveled to Cincinnati on Friday, July 9th to officially announce Cincinnati’s newly appointed status as a Hub of Innovation and Opportunity in the area of Consumer Marketing for the state of Ohio.  With companies like P&G, Landor, Kroger and LPK located here, Cincinnati has long established itself as a global leader in the fields of marketing, branding and forward thinking.

“Cincinnati’s Hub designation will assist this region’s already strong business and educational community in attracting young creative talent, new companies and job opportunities in consumer marketing to Ohio,” Governor Strickland said to a packed house of dignitaries on Friday at LPK’s headquarters in downtown Cincinnati.  “Targeted investments in Ohio’s urban regions and businesses are a critical piece of our economic development strategy to create jobs and strengthen Ohio’s economy.”

The Hub designation is much more than a point of civic pride. According to the Ohio Department of Development, the Ohio Hubs are envisioned as regional economic development initiatives that build upon leading assets in our urban centers to accomplish three major goals:

  1. Propel innovation through cutting-edge, market-driven applied technology and knowledge spillover;
  2. Foster the opportunity for job creation and retention; and
  3. Catalyze the formation of new companies in the region, while at the same time helping to ensure that Ohio’s existing industries retain their competitive advantage in the global marketplace.

Now more than ever, the state of Ohio seems committed to investing in Cincinnati’s comparative advantages. The $415 million the state has invested in the city has already translated into $2.3 billion in development. The Consumer Marketing Hub of Innovation and Opportunity will focus on promoting entrepreneurship, economic development and commercialization in the consumer marketing industry, providing the intelligence, insight, innovation, and infrastructure to sell Ohio’s products and services. The designation comes with $250,000 in seed money for the city intended to spur growth, encourage entrepreneurs and attract and retain creative talent in the area.

“The Ohio Hubs are vital to the continued economic success of our state’s communities,” said Mark Barbash, Assistant Director of the Ohio Department of Development. “Today’s investment in the Cincinnati region will further enhance Southwest Ohio as a globally recognized hot-spot for consumer marketing and branding.”

Further illustrating Cincinnati’s dominance in the consumer marketing industry, the Cincinnati USA Regional Chamber, Procter & Gamble, Kroger Company, the University of Cincinnati and Macy’s have partnered in order to strengthen and create job opportunities in Ohio’s consumer marketing industry.  Other local companies, including branding firms Landor, Bridge Worldwide, and LPK, and consumer marketing service companies such as Dunnhumby USA and AC Nielsen/Buzzmetrics have also committed to support this effort.

Vice Mayor Roxanne Qualls spoke at the event, connecting the Hub designation to the recent announcement of money received from the federal government for the Cincinnati Streetcar.  “These announcements are transformative for the greater Cincinnati region.” Qualls said.

“The hub designation strengthens partnerships and creates new opportunities for the citizens of Cincinnati, and the streetcar will now physically connect the Central Business District to the Uptown/University area – the city’s two larges employment areas. These projects are an investment in attracting and keeping the creative class, and they will help make this a great place to live for young folks who are the anchor of this region”

The Cincinnati Regional Action Plan states the goal of creating 200,000 new jobs by 2020. Local business leaders believe the hub designation will help Cincinnati hire even more creatives who are looking to stay in the region.