By 1808Delaware
The City of Powell continues to make significant strides in its economic development goals, as highlighted in its December 2024 report. With new initiatives, partnerships, and investments, the city is shaping a robust foundation for growth, vibrancy, and sustainability according to a report of the City’s Economic Development Administrator.
Key Achievements at a Glance
- 38 Businesses Retained or Expanded
- $5.75 Million in New Payroll Added
- $15.4 Million in Total Capital Investments
- 356 Projects Managed to Date
- 11 New Businesses or Startups
- Tax Increment Financing (TIF): $2.5 Million in PILOTs After 30 Years
- Annual Estimated Income Tax Growth: $115,039 for City Services
Additionally, the city’s efforts supported the creation of 21 new full-time equivalent positions in December alone, generating $651,932 in payroll.
Aligning Land Use and Economic Goals
Powell is taking deliberate steps to align land use with its broader economic objectives. Through strategic planning, the city has prepared critical development sites, including 4630 Powell Road, which is being annexed and zoned for readiness. A citizen-led committee has also provided recommendations for Village Green and Downtown Planning, supporting cohesive growth in key areas.
Marketing and visibility have been bolstered by Zoom Prospector, a public-facing property database that integrates listings with platforms like CREXi, and weekly promotions on LinkedIn, Facebook, and email campaigns targeting industry stakeholders.
Supporting Growing Industries
Collaborating with key regional and local partners, Powell has intensified efforts to attract target industry employers. Partnerships with organizations like Jobs and Family Services, Olentangy Local Schools, and the Delaware Area Career Center have been pivotal in workforce development. Training programs such as TechCred have already benefitted local businesses, ensuring a skilled labor pool for future growth.
The city is also monitoring housing needs in collaboration with OneColumbus, the Building Industry Association, and the Columbus Board of Realtors, ensuring sustainable housing development to support Powell’s economic and population growth.
Enhancing Vibrancy and Sense of Place
Powell’s economic initiatives extend beyond numbers to foster a thriving community. The city is working with Planning and Development on a comprehensive Downtown Master Plan, aiming to enhance the area’s charm and accessibility.
Through the Powell Development Corporation, the city has introduced a Business Retention & Expansion (BRE) Grant Program, issuing $11,180 in grants to support local businesses. Additionally, over $104,605 in commercial façade grants has been facilitated, boosting the appeal of the downtown area.
To strengthen the identity of the central business district, Powell businesses have joined forces under Visit Powell, a marketing and promotions entity designed to drive local and regional traffic to the area’s shops, dining, and attractions.
Expanding City Capacity and Collaboration
Powell is creating opportunities for businesses and government to engage more directly. Through monthly Powell Business Gatherings, business owners and city officials discuss opportunities and challenges, fostering open communication and collaboration.
To further attract businesses, Powell has introduced a Performance-Based Business Attraction Grant, providing tailored support to enterprises that align with the city’s economic development goals.
Powell Development Corporation: Growing Capacity
The city is actively working to enhance the capacity of the Powell Development Corporation (PDC). As the PDC evolves, it continues to play a critical role in advancing economic initiatives, with ongoing progress to expand its reach and impact.
Powell’s strategic approach to economic development is producing measurable results while maintaining a strong focus on the community’s vibrancy and quality of life. As the city continues to attract new businesses, retain existing ones, and foster collaboration across sectors, Powell’s future as a hub of innovation and growth looks brighter than ever.
Image by Gerd Altmann from Pixabay
