By 1808Delaware
Not every economic development project ends with a ribbon-cutting. Some involve helping an existing employer remain in the community. Others focus on an expansion, a new startup, redevelopment work or an agreement that makes a private investment possible.
Together, those efforts have created a substantial pipeline in Powell. A report scheduled to be shared with Powell City Council Tuesday night shows the city’s economic development team has now managed 357 projects, an increase of nearly 46% from June 2025.
The total includes 19 projects involving public and private parking agreements, along with a wide range of business attraction, retention and expansion efforts.
New businesses bring jobs and investment
The report counts 32 new businesses or startups, twice the number recorded in June 2025. Those businesses represent 193 full-time-equivalent jobs, nearly $11.9 million in payroll and approximately $19.1 million in capital investment. Recent openings include Tierra Encantada-Powell and Zaytoon Mediterranean Grill, both located in the new Wedgewood Shopping Center.
Business attraction represents the largest share of Powell’s overall development portfolio, accounting for 145 of the 357 projects. Another 98 involve retention, followed by 41 expansions and 34 startups.
The remaining projects include 20 redevelopment efforts, nine organizational projects, five new development projects and five government agreements.
Retention becomes a larger part of the story
While new business openings receive much of the public attention, Powell’s work with existing businesses has also increased sharply. The report identifies 16 companies that have been retained or expanded, compared with three at the June 2025 benchmark. Those projects preserved 87 full-time-equivalent positions while creating another 22 jobs and $1.1 million in new payroll. The city has also completed 139 business retention and expansion interactions, up from 101 during 2025.
Those conversations can provide an early indication that a company needs assistance, is considering an expansion or may be vulnerable to leaving the community. They also allow development officials to connect businesses with available properties, grants, workforce resources and other programs.
New payroll could generate $260,000 annually
Powell’s development activity has produced an estimated $13 million in new payroll during 2026, a 69% increase from the previous benchmark. At the city’s income tax rate, that payroll is expected to generate approximately $260,000 each year to support municipal services.
The longer-term numbers are larger. The report’s three-year charts show estimated new payroll growing from $5.75 million in 2024 to a cumulative $22.33 million in 2025 and $35.33 million in 2026. The corresponding annual income tax impact has risen from an estimated $115,000 in 2024 to $446,600 in 2025 and $706,600 in 2026.
Grants leverage private investment
The report also highlights the role grants have played in encouraging capital investment. During 2026, approximately $267,000 in grants helped support more than $9.3 million in community investment. The report calculates that relationship as a 3,395% return on the grant funding.
That continues a three-year pattern. Powell recorded approximately $6.6 million in capital investment tied to grants in 2024 and more than $12.1 million in 2025.
Altogether, the figures show that Powell’s economic development results are being driven by more than the arrival of new businesses. Retention work, expansion projects, grants and continued contact with local employers are also contributing to a growing payroll base and additional revenue for city services.
