By 1808Blockhouse
This City of Powell Economic Development Report for February 2025 is being shared with the Powell Development Corporation (PDC) in advance of their upcoming meeting this Tuesday.
The Report from Sean Hughes, Economic Development Coordinator, outlines key achievements, performance metrics, and ongoing initiatives that support the City of Powell’s strategic goals for business attraction, retention, and community vibrancy.
The Month in Numbers: Economic Growth by the Stats
The City of Powell’s February 2025 Economic Development Report paints a picture of steady and strategic economic momentum. With 137 active projects to date, the city is positioning itself as a thriving destination for both startups and established businesses alike.
New Businesses and Startups
In February alone, five new businesses or startups opened their doors in Powell, bringing with them:
- 136 Full-Time Equivalent (FTE) jobs
- $4.19 million in new payroll
- $6.68 million in capital investment
- An estimated $528,770 in future Tax Increment Financing (TIF) payments over the next 30 years
Business Retention and Expansion
One business chose to expand or remain in Powell, retaining 15 jobs and creating 3 new FTEs. With $150,000 in new payroll and over $1 million in investment, the city’s grant commitment of $262,205 produced an impressive 313.5% return on investment.
New Payroll and Revenue
Total new payroll for February reached $4.34 million, generating approximately $86,800 in annual income taxes to support City services.
Business Outreach
Powell’s Economic Development team also conducted 46 Business Retention & Expansion (BRE) visits, continuing to provide direct assistance and build strong relationships with local employers.
Strategic Progress: Tracking the City’s Five Key Goals
Powell’s Economic Development Department isn’t just growing numbers—it’s building toward a clear, long-term vision. Here’s a breakdown of the progress on five major strategic goals:
Goal 1: Align Land Use to Support Economic Growth
- A citizen-led committee provided recommendations for Village Green and Downtown planning, now under Council consideration.
- 4630 Powell Road is being readied for development through annexation and rezoning, creating a pad-ready site.
- Launched a public interface through Zoom Prospector and CREXi.com, providing real-time access to available sites.
- Marketing efforts continue weekly on LinkedIn, Facebook, and via targeted emails to key players in real estate and business development.
- Active involvement in regional partnerships like the Mid-Ohio Development Exchange ensures Powell remains a vital part of Central Ohio’s economic conversation.
Goal 2: Support Growing Industries and Workforce Development
- The city is actively promoting Powell to target industry employers in collaboration with realtors, developers, and regional economic partners.
- Partnerships with Olentangy Schools, Delaware Area Career Center, and Jobs and Family Services are boosting workforce development, with several businesses already enrolled in TechCred training programs.
- Housing growth and affordability are being closely monitored in partnership with OneColumbus and the Columbus Board of Realtors.
Goal 3: Enhance Vibrancy and Sense of Place
- Continued work with Planning and Development on Powell’s Downtown Master Plan is reinforcing the city’s charm and commercial appeal.
- Powell Development Corporation introduced a Business Retention & Expansion Grant Program and facilitated commercial façade grants, directly supporting local business revitalization.
- The launch of Visit Powell provides a unified promotional voice for Downtown businesses.
Goal 4: Expand City Capacity and Capability
- Monthly Powell Business Gatherings foster stronger communication between local entrepreneurs and city leadership.
- A new Performance-Based Business Attraction Grant has been created to draw investment with accountability.
Goal 5: Strengthen the Powell Development Corporation (PDC)
- Efforts are underway to expand the capacity of the PDC, ensuring the city’s primary economic development entity is equipped for future challenges and growth opportunities.
Source: City of Powell
