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Dayton: General Business & Economic News

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New program to promote downtown Dayton first floor tenants

 

A new pilot program will help create more move-in ready first floor spaces in downtown Dayton.

 

The program, headed up by the Downtown Dayton Partnership and funded by a $25,000 Dayton Power & Light grant, will connect Sinclair Community College student interns with downtown firms The Architectural Group and Helmig Lienesch to accomplish the technical work to prepare a first floor space for a tenant.

 

More below:

http://www.bizjournals.com/dayton/news/2016/01/25/new-program-to-promote-downtown-dayton-first-floor.html


"You don't just walk into a bar and mix it up by calling a girl fat" - buildingcincinnati speaking about new forumers

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Taylor Corp. to keep former Standard Register headquarters in Dayton

 

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Taylor Corp. is keeping the former Standard Register headquarters in Dayton in a deal with the city that entails significant upgrades to the Dayton site in what is considered a big win for the region. However, the company may have several hundred fewer employees than previously worked there.

 

Taylor Communications Inc. — the former Standard Register headquarters operation — is staying at its current location in Dayton, after reaching a deal with the city, Montgomery County, Dayton Development Coalition, JobsOhio and the Ohio Development Services Agency.

 

More below:

http://www.bizjournals.com/dayton/news/2016/04/28/taylor-corp-to-keep-former-standard-register.html


"You don't just walk into a bar and mix it up by calling a girl fat" - buildingcincinnati speaking about new forumers

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Retailer moving headquarters to downtown Dayton

 

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A prominent Dayton retail chain will move its headquarters to downtown Dayton.

 

Developers of the Water Street District announced Tuesday morning that Shops by Todd is coming to the mixed-use development.

 

More below:

http://www.bizjournals.com/dayton/news/2016/06/07/dayton-retailer-moving-headquarters-to-downtown.html


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EF Hutton world headquarters to bring new life to downtown Springfield

 

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EF Hutton's plan to bring its world headquarters and 400 new jobs to Clark County will be the first step in the process that reinvents a prestigious brand in the financial services world — and downtown Springfield in the process.

 

Christopher Daniels, CEO of EF Hutton, said an event would take place Friday morning to cut the ribbon on 1 Main Street. That's the new name for One South Limestone, downtown Springfield's tallest building, which will be bought by EF Hutton to use as its global headquarters, said John Detrick, a Clark County commissioner.

 

More below:

http://www.bizjournals.com/dayton/news/2016/09/01/ef-hutton-world-headquarters-to-bring-new-life-to.html


"You don't just walk into a bar and mix it up by calling a girl fat" - buildingcincinnati speaking about new forumers

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Just catching up on this thread - glad to see some significant economic projects coming to Dayton. I haven't visited there in a long, long time, but it's exciting to see some positive news.

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Report: Greater Dayton industrial market tightening

 

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The Dayton industrial real estate market continued to tighten throughout 2016, with companies such as Fuyao North America growing its footprint.

 

In a fourth quarter report, Colliers International found that 1.6 million square feet of industrial real estate was absorbed in the Dayton area over the course of the past year.

 

More below:

http://www.bizjournals.com/dayton/news/2017/01/18/report-greater-dayton-industrial-market-tightening.html


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Tech startup plans downtown Dayton office

 

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A startup software company is planning its first office in downtown Dayton after its initial incubation at The Entrepreneurs Center.

 

Mile Two, is moving Feb. 1 from its home at the Tech Town-based business accelerator to its new home at 444 E. Second St., said Jeff Graley, who co-founded the company with Jorge Sanchez.

...

"We have just really grown to love this area, the walk-ability, the restaurants and the interactions with the companies around here, and wanted to continue that," he said.

 

More below:

http://www.bizjournals.com/dayton/news/2017/01/18/tech-startup-plans-downtown-dayton-office.html


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AFRL plans downtown Dayton office as part of 'Innovation District'

 

The Wright Brothers Institute and Air Force Research Laboratory are considering an office in downtown Dayton with the intent of anchoring an "innovation district."

 

The nonprofit Wright Brothers Institute already works with AFRL — the Air Force's $4.9 billion technology powerhouse — helping translate military research into public and commercial uses.

 

More below:

http://www.bizjournals.com/dayton/news/2017/01/19/afrl-plans-downtown-dayton-office-innovation-area.html


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Speedway spinoff could create new Fortune 500 company

 

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Speedway's president says its parent company — Marathon Petroleum Corp. — will decide around the middle of this year whether to spin off the Enon-based store chain, a move which could create a new Fortune 500 company in Springfield.

 

In January, Marathon Petroleum (NYSE: MPC) announced it would launch a special committee to conduct a thorough review of Speedway. Gary Heminger, chairman, president and CEO of Marathon, said in a call to shareholders an independent financial advisor would also help to lead the board. It will determine if it would be more financially sound that the company continue as an entity of its own.

 

More below:

http://www.bizjournals.com/dayton/news/2017/02/13/speedway-spinoff-could-create-new-fortune-500.html


"You don't just walk into a bar and mix it up by calling a girl fat" - buildingcincinnati speaking about new forumers

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I can't understand why Speedway is so popular?  Most of them I've stopped at are dirty, with half the pumps out of order and you have to wait forever for pre-pay customers to come out after waiting in line for smokes, lottery and horribly unhealthy food.  It's like a suburban version of a ghetto-mart. 

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^the main reasons I use Speedway are 1. the Speedy Freezes (when the machine is actually working) and 2. if you buy Speedway gift cards at Marc's you get 10¢ off per gallon when you pay with the gift card.


“To an Ohio resident - wherever he lives - some other part of his state seems unreal.”

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Auto manufacturer to invest $60M in new Springfield plant

 

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An auto supplier is upping plans to expand in Springfield with a $60 million investment.

 

Topre America Corp. will enhance a project it unveiled late last year to open a facility in Springfield, where the Japanese company announced it would set up an operation. The manufacturer announced in a Monday morning press conference in Springfield it would buy the 32-acre Champion City Business Park on McGregor's Way in Springfield and build a $60 million, 146,000-square-foot stamping, assembly and distribution facility that will create 85 jobs.

 

More below:

http://www.bizjournals.com/dayton/news/2017/03/27/auto-manufacturer-to-invest-60m-in-new-springfield.html


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Downtown Dayton's newest trend: 'Urban entrepreneurial ecospace'

 

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Prompted by a renewed sense of vigor in the local economy, city of Dayton officials say they're having a hard time keeping up with the local business community.

 

In an economic development update Wednesday night, city officials discussed the latest business happenings in the city — where a number of projects discussed for a long time have been coming to a head in the city. Business construction and expansion projects are moving ahead from the new Spectrum Brands facility at the airport, to the expansion of CODE Credit Union downtown, to incremental growth of small businesses in the east and west neighborhoods.

 

More below:

http://www.bizjournals.com/dayton/news/2017/04/06/downtown-daytons-newest-trend-rban-entrepreneurial.html


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Portland tech group to open downtown Dayton office

 

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A Portland technology company working with Amazon and DARPA wants to break into the Midwest with a new office to be set up in downtown Dayton.

 

More below:

http://www.bizjournals.com/dayton/news/2017/04/12/exclusive-portland-tech-group-to-open-downtown.html


"You don't just walk into a bar and mix it up by calling a girl fat" - buildingcincinnati speaking about new forumers

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Springfield project deepens foreign investment in Ohio

 

The state of Ohio is offering a tax incentive to a Japanese company proposing a $55 million plant in Springfield, marking the latest in what has been a robust spate of international investments in Ohio.

 

In Columbus, the Ohio Tax Credit Authority approved a 1.2 percent, seven-year tax credit to Topre America Corp. which is promising to bring 85 new jobs and $3.4 million in payroll to the city as it sets up a new stamping and manufacturing site. If it creates the jobs promised, this would mean a $300,000 tax credit.

 

More below:

http://www.bizjournals.com/dayton/news/2017/04/25/springfield-project-deepens-foreign-investment-in.html


"You don't just walk into a bar and mix it up by calling a girl fat" - buildingcincinnati speaking about new forumers

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Dayton manufacturer to add 90 jobs with move to West Side

 

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After a decade of growth in Dayton's McCook Field neighborhood, a manufacturer says it could double in size once it moves to the West Side.

 

More below:

http://www.bizjournals.com/dayton/news/2017/04/27/exclusive-dayton-manufacturer-to-add-90-jobs-with.html


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Dayton tech firm plans new Oregon District office

 

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The firm is based in Dayton but works remotely with San Francisco clients.

 

More below:

http://www.bizjournals.com/dayton/news/2017/05/15/dayton-tech-firm-plans-new-oregon-district-office.html


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Downtown Dayton benefits from small-business assistance programs

 

There are a host of programs from the Pop-Up Shop initiative to Montgomery County Micro Enterprise Grant Program that can help with starting and growing downtown businesses.

 

More below:

http://www.bizjournals.com/dayton/news/2017/06/13/downtown-daytonbenefits-from-small-business.html


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Decision expected soon on Speedway spinoff

 

The decision to transform the Dayton region’s largest company into a publicly traded entity will happen soon. That’s the word from Marathon Petroleum Co., the owner of Clark County-based Speedway LLC.

 

Speedway, the gasoline and convenience store chain, posted $18.3 billion in revenue last year. If the company is spun off on its own from Findlay-based Marathon Petroleum, it could see an infusion of money that could lead to more expansion.

 

More below:

http://www.bizjournals.com/dayton/news/2017/07/05/decision-expected-soon-on-speedway-spinoff.html


"You don't just walk into a bar and mix it up by calling a girl fat" - buildingcincinnati speaking about new forumers

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Great piece from the Cleveland Fed:

 

UNEMPLOYMENT, VACANT PROPERTIES, POPULATION DECLINE: FINDING SOLUTIONS IN DAYTON

 

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The cash register’s roots are here. The automatic car starter’s. Aviation’s, too. Inventors once built factories that put people to work, but today, many of the well-paying blue-collar jobs that attracted people to work and live in Dayton, Ohio, are gone.

 

Companies that locals figured would be here forever, among them National Cash Register, have left, and parts of the city suffer from disinvestment. In particular, West Dayton, which locals say experienced pronounced segregation and redlining, has higher rates of crime and poverty, along with a very large food desert.

 

All of the departures and loss, though, have reinvigorated action in some parts. Just last year, for the first time in nearly 15 years, residents’ councils formed at two public housing complexes and are meeting monthly to plan events and voice resident concerns. Block parties have brought together residents and police.

 

There are bright spots commercially speaking, too: Since 2015, more than 100 new businesses have located downtown, according to the Downtown Dayton Partnership, and signed and renewed leases in 2017 helped chip away at downtown’s vacancy rate. The residential occupancy rate in Dayton’s core is more than 97 percent, even with roughly 760 housing units completed since 2010.

 

So while the challenges are mighty, locals say they aren’t insurmountable. The headwinds also aren’t unique to Dayton: Many other places have endured industrial losses, and with them, population loss and the painfully evident slide of neighborhoods, amenities, and schools.

 

“Our city needs a sense of urgency around West Dayton’s disinvestment,” Lela Klein, executive director of the Greater Dayton Union Co-op Initiative, tells Cleveland Fed visitors during a trip in February. “Our city as a whole rises and falls together. You can’t have a strong and resilient city when a significant portion of your population lacks access to opportunity.”

 

It is Dayton’s response to these challenges that Federal Reserve Bank of Cleveland president Loretta J. Mester and others came to see—particularly, what’s working and what people are attempting to do to turn things around.

 

Full article below (worth the read):

https://www.clevelandfed.org/en/newsroom-and-events/multimedia-storytelling/finding-solutions-in-dayton.aspx#introduction


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Stratacache to add 300 new jobs in downtown Dayton

 

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Stratacache will create at least 300 new jobs and invest $30 million in the properties it has acquired in downtown Dayton, CEO Chris Riegel said Wednesday.

 

More below:

https://www.bizjournals.com/dayton/news/2019/02/20/stratacache-to-add-300-new-jobs-in-downtown-dayton.html

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"You don't just walk into a bar and mix it up by calling a girl fat" - buildingcincinnati speaking about new forumers

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Stratacache's other US office is in the Transamerica Pyramid, so I'd say Dayton (and the newly-rechristened Stratacache Tower) is in good company!

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“To an Ohio resident - wherever he lives - some other part of his state seems unreal.”

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I refuse to call it "Stratacache Tower" but good for them.  I wish OTHER companies in the area would take note.  Hopefully, as that article says, they put some playful lighting elements on it.


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I'd be up for it if we bring back the Mead Tower.

 

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Dayton office furniture company to move into Avant-Garde building

 

One of the largest office furniture companies in the Dayton region will soon relocate to a new office.

 

More below:

https://www.bizjournals.com/dayton/news/2019/02/26/dayton-officefurniture-company-to-move-into-avant.html

 

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"You don't just walk into a bar and mix it up by calling a girl fat" - buildingcincinnati speaking about new forumers

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"Couldn't find the right talent" in Dayton, and then "couldn't find the right talent" in Duluth. That tower would have looked great on our skyline. It's hard to forgive them, especially now that downtown is having businesses move back and they could have been a good steward for the city, like Patterson would have wanted. 

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“To an Ohio resident - wherever he lives - some other part of his state seems unreal.”

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Reports: Speedway may become its own company

 

Speedway LLC, the largest company in the Dayton region, may soon have the opportunity to grow much larger. That’s because parent company Marathon Petroleum Corp. looks to spin off its retail line, which mostly consists of Speedway, according to Bloomberg.

 

Clark County-based Speedway posted $23.6 billion in revenue last year, and a stand-alone Speedway would be the largest U.S.-listed convenience store operator. 

 

A Marathon spokesperson said the company doesn't provide comment on rumors or speculation.

 

More below:

https://www.bizjournals.com/dayton/news/2019/10/30/reports-speedway-may-become-its-own-company.html


"You don't just walk into a bar and mix it up by calling a girl fat" - buildingcincinnati speaking about new forumers

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It's official: Speedway to become its own company

 

Speedway LLC, the largest company in the Dayton region, will soon become its own business. That’s because parent company Marathon Petroleum Corp. will spin off its subsidiary.

 

Clark County-based Speedway posted $23.6 billion in revenue last year, and a stand-alone Speedway would be the largest U.S.-listed convenience store operator. The impact on the Dayton region is unclear, though its independence will give Speedway more latitude to target growth. It also establishes a new publicly-traded company in the region and likely will prompt additional hires.

 

"Today's announcement to separate Speedway will create a new independent company that is well-positioned to achieve sustained growth and create substantial shareholder value," said Marathon Chairman and CEO Gary Heminger, who will retire next year. "We have built Speedway into an exceptional business."

 

More below:

https://www.bizjournals.com/dayton/news/2019/10/31/its-official-speedway-tobecome-its-own-company.html


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