Plan aimed at helping and luring businesses
Economic assistance program ‘necessary to remain competitive.’
MIAMI TWP. — The largest tax-sharing district in Miami Township is looking to start an economic assistance program.
The board of directors for the Austin Center Joint Economic Development District is drafting a plan to provide financial help to district businesses, as well as help attract others to that area.
The JEDD — which includes much of Austin Landing and surrounding areas — is home to about 3,000 jobs and an estimated 70 businesses, said board member Chris Snyder, Miami Twp.’s community development director.
The goal, Snyder has said, would be “similar to what any jurisdiction would have for standard types of incentives. Are there ways — if there were a need by a business in the district or looking to locate there — that we could address with JEDD resource?”
The program “is necessary to remain competitive in recruiting new business and retaining and/or promoting expansions of existing businesses located within the district,” according to a draft of the plan.
“Each new or expansion project will be considered on a caseby-case basis,” it states.
The Austin Center JEDD — which includes Miamisburg and Springboro — is one of three township-
JEDDs. Its business growth in recent years commonly makes it the most tax-revenue lucrative, topping $1 million in 2018.
The EDA program is key to “what the JEDD was formed to do,” said Crystal Corbin, chair of the Austin Center board.
In fact, it is the only township JEDD without such a program. The districts including Dayton and Miami Crossing — which the township shares with Miamisburg — have had similar plans for years, Snyder said.
Austin Center has witnessed more than $100 million in new business investment in recent years. The move to start the program comes “as the JEDD transitions from construction and enhancement of the territory, we’re going into more of an economic development phase,” board Treasurer Jennifer Johns has said.
The board has allocated $50,000 in this year’s budget for the assistance program, according to Johns.
Members have been discussing guidelines to be eligible for assistance — which will likely be in the form of grants — as well as the fac- tors in how recipients will be selected.
In the coming weeks, board members will seek to finalize policies and procedures, as well as rules that outline how funds can be used.
Minimums should be established for the amount of capital investment and increased payroll a project would involve, board members said.
Among other factors: total capital investment in proj- ect; the number of jobs created; wage levels for jobs created; and potential for future expansion, according to the plan’s draft.
Snyder said the board hopes to have the program in place this spring.