By 1808Delaware
Two years ago, the City of Powell created an Economic Development Department with a clear mandate: be intentional, be measurable, and make sure growth benefits the entire community.
Today, the results are not theoretical. They are numeric, financial, and visible across the city. In 2025 alone, Powell’s economic development work translated into new businesses, new jobs, millions in payroll, and a growing stream of income tax revenue that directly supports city services and infrastructure.
A year defined by numbers
In 2025, Powell’s Economic Development team managed 402 active projects, a 12.9 percent increase over the previous year. Those projects spanned both business attraction and business retention and expansion, reflecting a dual focus on bringing in new employers while helping existing ones grow.
That work helped bring 30 new businesses or startups to Powell, a 170 percent increase over 2024.
The direct impact:
- 496 full-time equivalent jobs
- $17.45 million in new payroll
- $85.25 million in capital investment
At the same time, expansion by existing businesses created 14 additional jobs and added $910,000 in payroll, bringing total new payroll in Powell to $18.36 million in a single year.
Supporting the businesses already here
Economic development is often thought of as ribbon cuttings and grand openings. In Powell, much of the work happens in quieter ways.
In 2025, the City conducted 166 business retention and expansion visits, a 40.6 percent increase over 2024. These visits are direct conversations with local employers about needs, challenges, and opportunities. When businesses choose to reinvest locally, the payoff is stability: stable employment, a stronger tax base, and continued confidence in Powell as a place to do business.
Revenue that compounds year after year
New payroll does more than create jobs. It generates income tax revenue that compounds over time. In just two years, the combined efforts of the City’s Economic Development Department and the Powell Development Corporation have generated $482,200 in new income tax revenue. That revenue helps fund city services, maintain infrastructure, and meet long-term community needs without shifting the burden to residents.
Investment with measurable returns
Powell’s approach is not speculative. It is structured around return on investment.
- $628,980 in grants leveraged $12.12 million in capital investment — an 1,826 percent return
- Total economic development ROI reached 1,202.63 percent
- Tax Increment Financing projects are projected to generate $5.13 million in PILOT payments over 30 years for non-school infrastructure, supporting roads and public improvements without increasing the residential tax burden
Compared to surrounding communities with larger populations and longer-established programs, Powell’s performance meets or exceeds regional benchmarks. Achieving this scale of impact in just two years highlights both strategy and execution.
Growth with purpose
In Powell, economic development is not about growth for its own sake. It is about strengthening the local economy in ways that directly benefit residents.
More jobs. More payroll. More investment. More revenue to support the services people rely on every day. Two years in, the numbers tell a clear story. And Powell is still building.
Image by Gerd Altmann from Pixabay
