Leveraging Resources The City of Dayton is prepared to utilize any available resource to assist new business development projects. Tax Increment Financing, or TIF, is one such program that is used in major cities across the country to leverage investments in new commercial construction projects.
Pilot Your Future TIF structures allow taxable gains in property value (the increment) to be re-directed toward project costs or infrastructure improvements. The revenue from a TIF payment in lieu of taxes, known as a PILOT, is often used to help pay for bonds or loans needed to complete a significant construction project. Projects can receive up to 100% exemption on the increased property value, subject to City Commission approval and negotiations with the local school board.
Contact Some of Dayton's successful TIF projects are listed below. For business success stories and the latest tools for your business, read or sign up for Dayton's BizBites Newsletter. Please contact us in the Office of Economic Development at (937) 333-3634 for more information.
Tech Town CTA The City's newest TIF project is part of the Tech Town initiative. The Creative Technology Accelerator (CTA) was built in 2009 and is now home to the Institute for Development and Commercialization of Advanced Sensor Technology (IDCAST), the Dayton RFID Convergence Center (DRCC), and Weston Solutions, an environmental engineering firm.
Tech Town North This $7 million project was the capstone for Dayton's first major brownfield redevelopment project at the former GH&R Foundry in 2002. Today the site is home to a thriving high-tech manufacturing company. In 2009, they began construction on a second facility that will help create even more new jobs in Dayton. Additional acreage is still available for future development.
Relizon (Workflow One) In the heart of downtown Dayton, the Port Authority built this $27 million office facility in 2001. It is now home to Workflow One, which was formerly known as Relizon. In 2009, legal firm Deloitte announced that they would be moving into the building in 2010. The adjacent parking garage was part of the project and it is also used by season ticket holders for the Dayton Dragons, an affiliate of the Cincinnati Reds baseball team.
Business Incubator Just across the street from the CTA building is The Entrepreneur Center (TEC), a unique facility designed to help small technology firms to start-up and grow. TEC provides affordable office space and a network of experienced advisors for companies that are ready to commercialize new technology and bring their products to market. The project was built for $3 million in 2001. TEC is also home to the Dayton branch of the Ohio Small Business Development Center (SBDC), where entrepreneurs can take classes and get help with their business plans and marketing skills.
Courthouse Crossings Formerly the Elder-Beerman department store, this facility was transformed into a modern office building after a $17 million renovation in 2002. Today, the building is occupied by the Area Agency on Aging, as well as several street-level retail stores and restaurants, including a post office. Additional office and retail space is available for lease.
Schuster Center The Schuster Performing Arts Center was built for $121 million in 2000. It is the region's premier location for Broadway-style shows, ballet, orchestra concerts, opera, and other outstanding performers. The project includes Performance Place, a mixed-use tower that includes high-end residential and commercial condominiums.
For more information, contact us in the Office of Economic Development at (937) 333-3634.