Greater Downtown Dayton Plan: Economic Development

8/14/2019 Greater Downtown Dayton Plan: Economic Development

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ECONOMICDEVELOPMENT

DRAFTRECOMMENDATIONS

Introduction

Morethan42,000peopleworkeverydayinGreaterDowntown.Theyreemployedatfinancialinstitutions,

professionalservicesfirms,healthcarerelatedsectorsandeducationalinstitutions.Otherswhoworkinmom

andpopbusinessesandstaffhotels,nightclubsandotherservicebusinesses,whilehundredsentertainpeople

inDaytonsvariedartsandculturalvenues.Asemergingtechnologycompaniespopulatetheemployment

landscape,agrowingnumberofpeopleworkforhightechandaerospacerelatedcompanies.Greater

Downtownsworkforceisdiverseandtalented.

ThereisnodoubtthatGreaterDowntownistheeconomicenginefortheCityofDayton.Itrepresentsnearly40

percentofthetotaljobsgeneratedincometaxrevenuefortheCityofDaytonthatfundscityservicesin

Daytonsneighborhoodsanddowntown.Ofparamountimportance,italsoistheregionslargestemployment

center.ItshealthandvitalityarecriticalnotonlytoDaytonseconomicfuture,butalsototheregionsoverall

prosperityandwellbeing.

Duringthepastdecadeorlonger,theCityofDaytonhasexperiencedanestimated13percentreductioninjobs.

Thistrendwillcontinueunlessdrasticmeasuresareputinplacetoreverseit.Inrecentyears,significantsteps

havebeentakentobeginthetransformationofDaytonseconomyandcreateanewbaseofemployment.Much

ofthis

work

is

outlined

in

City

Plan

2020:

Focus

2010

&Beyond,

as

well

as

in

this

plan.

Much

work

lays

ahead

as

theseandotherstrategiesareimplementedtotransformandgrowDaytonseconomyandcreatejobs.The

foundationofthisworkliesinthefollowingkeystrategies:

Retainandgrowdowntownbusinessesandinstitutionsinthefaceoffierceandgrowingrelocationcompetition.

Recruitandincubatenewbusinesses. Findnewwaystocompeteinanincreasinglyspecializedknowledgebasedglobaleconomy.

Allthesekeystrategieshaveasharedgoal:Createaplacewherecompanieswanttolocateandemployeeswant

tolivebymakingdowntownamorevibrant,healthyurbancenter.

Overallgoal

DevelopaprobusinessenvironmentthatleveragesGreaterDowntownsauthenticcultural,institutional,

educational,architectural,transportationandleadershipassetstocreateabusinesscenterknownasahubof

creativityandinnovation,whereadiverseandtalentedworkforceandthebusinesses/institutionsthatemploy

themchoosetolocate.


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CoreObjectives

Establishaprobusinessenvironmentinwhichbusinessescangrowandprosper.

Identifytargetindustriesandtheirassociatedsupplychainandimplementproactiverecruitmentstrategies.

RetainandsupportthegrowthofbusinesseslocatedinGreaterDowntown.

Provideaqualifiedworkforcethatbetterreflectstheneedsofareabusinesses,particularlythoseinthe

targetedindustryclusters.

CreatemarketableplacesandspacesbyleveragingGreaterDowntownsauthenticcultural,structural,

architecturalandtransportationresourcesthatattractyoungtalentandthecreativeclass.

Implement

aleading

edge

broadband/wireless

connectivity

plan

for

Dayton

that

will

differentiate

it

from

other

communities,provideanunparalleledcompetitiveadvantageandultimatelyresultinthecreationofjobs,and

otheruniqueeconomicdevelopmentopportunitiesinthefuture.

Developandimplementastrategytorightsizethedowntownofficemarket,identifyshovelreadysitesand

transitionunderutilizedspacetoother,moreproductiveuses.

EstablishDaytonwiththeStateofOhioAerospaceTechnologyHubdesignation.

Participateinthedynamictechnologicaldevelopmentsthatareoccurringintheareasofdatamanagement,

sensors,advancedmaterials/manufacturingandaerospace.

EstablishGreaterDowntownasoneofthepremiercentersinthenationforentrepreneurstoreceivea

comprehensiveandintegratedsystemofsupportservices.

KEYRECOMMENDATIONS

Createacomprehensivebroadbandplanthatwillprovideauniquecompetitive

advantagetocompanies,institutionsandresidentswholocateinGreaterDowntown,

creatingjobsandothereconomicdevelopmentopportunities.

Intodayseconomicallycompetitiveenvironment,theCityofDaytonnolongercompetesonlywithotherOhio

metroareasanditsownsuburbs itcompetesinaworldmarket.Now,tocompeteeffectivelyforjobsand

residents,theCitymustsignificantlydifferentiateitselffromothercommunities.Oneofthewaysitcandothisis

bydevelopingaleadingedgebroadbandconnectivityplanthatwillprovideallstakeholderswithaccesstoa

broadbandconnectionthatisnotonlyeconomicallyreasonablebuttechnologicallyrobustandadvanced.High

speedbroadband

networks

are

utilized

by

virtually

every

kind

ofbusiness,

but

such

networks

are

especially

indemandbydataintensebusinesses thekindofbusinessesthemoderneconomyiscreating.Aproposed

wirelessnetworkwoulddeliverbroadbandatspeedsexceeding4Mgb/secondanddeliverrealtimemobile

communicationsforhealthcareandadvancedpublicsafetycommunications,aswellasprovideadded

connectivityforutilitiesandbusinesses,promoteregionalefficiencies,fosterjobgrowth,andincreaseand

encouragebroadbandadoption.

1.SeekfundingthroughtheAmericanRecoveryandReinvestmentActFund(BroadbandStimulusFunding).The

requestof$7millionmadeinAugust2009wouldenabletheimplementationofahybridwirelessandfiber

broadbandsystemthroughoutthecity.

2.Iffundingissecured,developstrategiestoincorporatethebroadbandplanintooveralleconomic

developmentactivities.Keyopportunitiesinclude:highspeedvoice,dataandvideocommunicationsforbusinesses;

eHealthnetworks(electronicmedicalrecords,healthinformation,virtualhealthcare,etc.);and

Directinterconnectivityamongcommunityanchorinstitutions(educational,researchand

development,andhealthcareandbusinesses).


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ContinuethedevelopmentofTechTownasahightech,urbanlive,workandplay

districtfocusedonthedevelopment,applicationandcommercializationofnew

technologiesandtechnologybusinesses.

TechTownreflectsDaytonstransformationfromacityprimarilyknownforitsmanufacturingcompaniestoa

cityrecognizedforitstechnologicalstrengths.Itisintendedtoencourageandacceleratethistransformationby

servingasasettingwherebusiness,academiaandgovernmentstrategicallyworktogethertosupportthe

regions

core

competencies

in

aerospace,

sensors,

radio

frequency

identification

(RFID)

technology

and

data

management.TheTechTowncampuswillenableGreaterDowntowntoprovidedevelopmentreadyrealestate

andspecbuildingspacetoattractandgrowbusinessesengagedintheCitystargetedtechnologysectors.The

realestateproductwillbedesignedtomeettodaysmarketneeds,includinglargehorizontalfloorplatesand

greentechnology,aswellasofferothercompellingamenities.

1.AnchortheWebsterStationneighborhoodasalive,workandplaydistrict.

2.Attractyoung,creativetechnologyprofessionalssoughtbycompanies.

3.Specializeinthecommercializationofnewtechnologies.

4.Drive

the

Citys

industry

cluster

strategy.

5.ServeasthenorthernanchoroftheAerospaceHub.

6.EnabletheCitytoparticipateandbenefitfromtheregionalaerospaceandfederalBaseRealignmentand

Closure(BRAC)initiatives.

7.MeetthefollowinggoalsforTechTown:

By2020,createapproximately400,000squarefeetofoffice,prototypedevelopmentandapplied

researchspace.

By2020,create2,500jobs.

Incubate

and

accelerate

small

business

growth

by

creating

150

new

businesses

by

2020.

BeginconstructionofBuildingNo.2(60,000sq.ft.)duringspring2010.

BeginconstructionofBuildingNo.3(50,000sq.ft.)duringspring2011.

Completebuildoutofentirecampusin2020.

DevelopastrategicplanforthenewlydesignatedStateofOhioAerospaceHub.

TheStaterecentlydesignatedtheOhioAerospaceHub,aspecificgeographicareathatgenerallyalignswith

GreaterDowntown,stretchingfromTechTownsouthtotheUniversityofDayton.TheStatesurbaneconomic

developmentstrategyanddesignationisgearedtofostertheconcentrationofcompanies,technology

intermediariesandknowledgeassetsinaerospacewithinadefinedgeographicproximity.

1.LeveragethehubstatustoprovideGreaterDowntownwithauniqueopportunitytoattractStatedollarsto

supportentrepreneurialandproductivityassistance,capitalaccess,technologydevelopmentandinfrastructure

improvements.

2.UsetheAerospaceHubstrategy,coupledwithtargetedresources,tocreateasustainablecriticalmassof

creativetalentandinnovationinGreaterDowntownthatwillenable:

deploymentofappliedtechnologyintothemarketplace;

activechannelsforbusinesstransactions;

sharedspecializedinfrastructure,labormarkets,riskcapitalandservices;


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competitiveadvantagedrawnfrommutualproximityandconnections;and

participationintechnologicaldevelopmentintheareasofaerospace,advancedmaterials/manufacturing

andsensors.

Strengthenandexpandthecohesiveandcoordinatedretentionandexpansion

programtohelpgrowandnurtureexistingdowntownbusinessesandinstitutions.

Nationwide,theretentionandexpansionofexistingbusinessesaccountsformorethan80percentoftotaljob

growth.Executing

an

effective

retention

and

expansion

program

isthe

best

opportunity

tocreate

jobs

inGreater

Downtown.Throughacollaborativeeffort,theCityofDayton,theDowntownDaytonPartnership,CityWide

Development,MontgomeryCountyandtheDaytonAreaChamberofCommercemaintainanaggressive,

strategicretentionprogram.

1.IncreasetheengagementofcommunityleadersinretentioneffortsbyexpandingtheDowntownDayton

LeadershipNetwork,apeertopeervisitationprogram,beyondthecoreofdowntown.

2.StrengthencollaborativeeffortsthroughtheDaytonBusinessResourceCentertobetterassistandaddress

theneedsofexistingbusinesses.

3.Effectively

target

at

risk

companies

and

engage

them

in

the

retention

process

so

those

businesses

can

immediatelybeconnectedwithneededresourcesandexpertise.

4.Identifyexpandingcompaniessofutureneedsproactivelycanbeaddressedstrategicallyandatarapidpace.

RightsizeanddiversifyGreaterDowntownsofficeproducttoadapttotheemerging

needsofbusinessesintheneweconomy.

Theregionssupplyofcommercial/industrialspaceanddevelopmentreadylandisgreaterthanthedemand.Yet

plansforfuturedevelopmentcontinue.Inthisatmosphere,downtownmustcompetemoreaggressivelytomeet

theneedsofbusinesses.Todothis,downtownmust:

diversify

its

office

product;

offerspaceoptionsthatadapttoemergingbusinesstrends;

rightsizetotalofficespaceinventory;

strategicallytransitionsomeofitsricharchitecturetootheruses;and

identifystrategicopportunitiesforshovelreadysitesandfuturedevelopmentopportunities.

1.Developcampuslikeofficespace,suchasTechTown,thatprovidescompetitiveadvantagesandbenefits.

2.Thereisastrongdemandforuniqueurbanspacethatisattractivetothecreativeclassandotherrelated

sectors.Downtownhasricharchitectureunlikeanythingelseintheregion.Specificdevelopmentandfunding

strategiesmustbeestablishedtotransitionunderutilizedbuildingstomixeduse,housingandothermore

productivespaces

that

meet

the

needs

of

this

sector.

3.Downtownalsohassomecommercialbuildingsthatareobsolete.Developstrategiestorepurposethese

buildingsand/orpotentiallytakethemdown,including:

TheStrategicReuseProject,apartnershipwiththelocalchapteroftheAmericanInstitutefor

Architectsand10localarchitecturalfirmstodeveloppotentialusesfor10buildings.Morethan

$200,000ofprofessionalserviceshasbeendonatedtothiseffort.Thenextstepistoseekacompanyor

organizationtoredevelopthesebuildings.

MainStreetCorridorFund,anincentiveprogramdevelopedbytheCityofDaytonthatprovidesgap

financinggrantsfordevelopersinvestinginvintagebuildingsinthecoreofdowntown.


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4.AnanalyticreviewisunderwaytoprojectthefutureofficeneedsforGreaterDowntown.Bycomparingpeer

citiesandusingotherdata,adeterminationcanbemadeastotherightsizingofthedowntownofficemarket.

ThisanalysiswillbecompletedbymidOctober2009andmorespecificstrategieswillbedeveloped.

5.Torapidlyrespondtopotentialbusinessexpansionandrelocation,identifyandplanforfuturedevelopment

opportunitiesonstrategicsitesinGreaterDowntown,including:

NCRWorldHeadquartersbuilding

Montgomery

County

Fairgrounds

PattersonCoopsite

riverfrontdevelopment

DaveHallPlaza

othershovelreadysites

6.Althoughtheremaybesensitiveissuesand/ordifferingopinionsregardingthehighestandbestusesforthese

andotherpotentialdevelopmentsites,eachmustbeevaluatedsoopportunitiescanbeseizedandactedupon

inaproactivemanner.

Adoptanindustryclusteringstrategytocreateandleveragetheproximityand

concentrationof

interconnected

companies.

Thepurposeofthisstrategyistocreatenewindustries,businessesandjobsbyestablishingcentersofintellectual

knowhowforspecificnichesectors.Eachoftheindustryclusterinitiativesidentifiedalsoconstitutessignificant

opportunitiesforGreaterDowntowntoengageandbenefitinneweconomicdevelopmentopportunities.The

industryclustersandtheirrelationshipstoGreaterDowntowninclude:

Aerospace:Downtownisconvenientlylocatedjust10minutesfromWrightPattersonAirForceBase

(WPAFB),thelargestairbaseintheUnitedStatesandhometotheUSAFResearchLabs.

Hospital/HealthCare:GreaterDowntownembodieslargeandsmallhospitalhealthcareinstitutionsand

healthcarerelatedbusinessesthatemploymorethan10,000workers,includingMiamiValleyHospital,

GrandviewHospital,DaytonChildrensHospital,ElizabethPlaceandCareSource.

Data

Management/Sensors/RFID:

Tech

Town

is

home

to

the

Dayton

RFID

Convergence

Center

and

to

the

InstitutefortheDevelopmentandCommercializationofAdvancedSensorTechnologies(IDCAST).Both

technologiesnecessitatetheneedforsophisticateddatamanagementproviderstomine,manageand

manipulatethedatagatheredbyRFIDandSensorTechnologies.

AdvancedMaterials/Manufacturing:TheUniversityofDaytonResearchInstituteisrankedsecond

nationallyintermsofadvancedmaterialsresearch.

Heritage,CulturalandRecreationalTourism:Downtownhasanopportunitytocapturetourismdollarsby

leveragingitshistorical,architectural,recreationalandculturalassets.

Professional/FinancialInstitutions:Downtownisthehubtomostofthisregionsprofessionalservicesfirms

andfinancialinstitutions.

CenterofExcellenceforEducation:SinclairCommunityCollege,theUniversityofDayton,avarietyof

technicalschools,andawardwinninghighschoolsallarelocatedinGreaterDowntown.

1.CreateastrategyforGreaterDowntowntocapturetourismdollarsbypackagingandpromotingitshistorical,

architectural,recreationalandculturalassets.

2.Createanadvancedmaterials/manufacturingincubator/acceleratorattheUniversityofDaytontofacilitate

thegrowthofsmalladvancedmaterialsbusinesses.

3.Developarealestatestrategythatwillencourageandsimplifytheprocessforexistingmedicalinstitutionsto

growattheirGreaterDowntownfacilities.


6/7

4.DevelopandimplementtheAerospaceHubinitiative.

5.CoalesceregionalRFIDplayerstoworktogethertosupportDRCCandtofacilitateaninterconnectednetwork

ofbusinessesengagedinRFID.

6.Developpartnershipswiththeuniversity/educationalsectorstogrowandexpandinGreaterDowntown.

7.Through

the

assistance

of

Janus

Economics,

atarget

industry

analysis

is

being

conducted

to

maximize

the

successofrecruitmentandjobcreationeffortsbyidentifyingthebesttargetindustriesbasedonsoliddata

analysis.Janusisanalyzingdowntownscurrentemploymentsupply,potentialdemandandconductingagap

analysisofindustrysectorsunderrepresentedinGreaterDowntownascomparedtootherpeercities.Thenext

stepwillbethedevelopmentofacohesivestrategytorecruitbusinessesinthesetargetedindustrysectors.

8.UsetheCityincentiveprograms,includingtheDaytonDevelopmentFundandtheDaytonEconomic

AttractionProgram(DEAP),aswellotherlimitedincentiveprograms,toattractbusinessesandjobs.

Developacomprehensiveandintegratedsystemofsupportservicestoincubateand

nurturestartup,entrepreneurialbusinesses.

OnekeywaytochangeandcontrolthedestinyoftheCityseconomicsituationistosuccessfullynurtureand

supportthegrowthofnewandsmallbusinesses.Nationally,smallbusinessescreatethevastnumberofnew

jobs.GreaterDowntownsabilitytonurtureandgrownewbusinesseswillbepredicatedonitsabilityto

implementaverycoordinatedandsystematicapproachtoincubation,accelerationandcommercialization.


7/7

Implementation

LeadOrganization: CityofDayton

CityWideDevelopmentCorporation

DowntownDaytonPartnership

SupportingPartners: DaytonAreaChamberofCommerce

MontgomeryCounty

DaytonDevelopment

Coalition

StateofOhio

collegesanduniversities

privatesectorpartners

othereconomicdevelopmentpartners

PotentialFundingSources: DEAPCityofDaytonIncentiveProgram

DaytonDevelopmentFund

MainStreetCorridorProgram

StateofOhioHubofInnovationandOpportunityProgramfunding

Federaltransportationfunding

Other

state

and

federal

funding

Venturecapitalfunds

Otherprivatefundingsources

SupportingMaterials: CityPlan20/20:Focus2010&Beyond

DowntownDaytonPartnershipStrategicReuseProject

TechTownStrategicPlan

Documents

Greater Downtown Dayton Plan: Economic Development