The city of Delaware set records in its economic development efforts, according to a report released earlier this month.
The city’s economic development department received 294 leads, or information requested directly or indirectly by a company, with 101 retention and expansion visits that generated 236 projects with 26 completed.
“Successful 2016 projects led to the creation of 226 new jobs in the city and retention of 172 jobs,” Delaware Economic Development Director Sean Hughes said. Jobs retained and created in 2016 produced a payroll of $12.19 million and $8.865 million, respectively.
“If we count the City’s assistance in the formation of the Berkshire Township JEDD, we assisted in the creation of 998 jobs,” Hughes said, in reference to the Joint Economic Development District, which allows the township to administer the city’s 1.85 percent income tax at the Tanger Outlet Mall. Townships cannot implement an income tax on their own in Ohio.
The city is expected to collect $164,002.5 in new payroll income tax from 2016 projects, according to the report. It said: “Over a 15-year company life-cycle, that total is projected to be $2.4 million. The city of Delaware will generate $2,460,037.5 in taxes on 2016 completed projects in 15 years.”
Fifteen of the completed projects were retail and restaurant including Fresh Start Cafe Bakery, Mohio Pizza and Stone & Sparrow in downtown; while six of the projects were technology/office and medical-related such as Frontier Communications and the Workman Law firm; and five were industrial such as Nex Transport and Dr. Jon’s Shaving Soap Co. Five of the projects were expansion-related.
Additionally, the report highlights downtown Delaware’s first-floor occupancy rate of 95 percent. Six businesses took advantage of the city’s downtown facade grant program, which matches dollar-for-dollar of storefront improvements. Awards range from $2,000 to $20,000 for projects that are at least $40,000.
“A total of $65,509 was committed in grant funds, matched with $74,510 of local business funds,” city spokesman Lee Yoakum said.
The city has 1,491 total companies.
Gazette reporter Brandon Klein can be reached by email or on Twitter at @brandoneklein.
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