By 1808Delaware
The City of Powell’s Economic Development team will present a robust March 2025 progress report to City Council on Tuesday night — one that underscores the city’s steady growth, business-friendly environment, and expanding local workforce.
The Economic Development team has now managed 137 active projects, helping shape Powell’s economic landscape through proactive engagement, resource delivery, and strategic planning.
New Businesses Bring Jobs and Investment
In March alone, seven new businesses or startups set up shop in Powell. These ventures are projected to bring:
- 145 full-time equivalent (FTE) jobs
- $4.57 million in payroll
- $7.07 million in capital investment
- An estimated $528,770 in Tax Increment Financing (TIF) after 30 years (non-school revenue)
This activity reflects not just new opportunities for residents, but a stronger foundation for the city’s fiscal health.
Support for Existing Businesses Remains Strong
The city also reported success in retaining and expanding local businesses. One company expanded operations, resulting in:
- 15 retained FTEs
- 3 new FTEs
- $150,000 in new payroll
- $1.09 million in investment, spurred by $266,900 in committed grants — delivering an impressive 307.5% return on investment (ROI)
Income Tax Boost from New Payroll
Altogether, Powell added $4.72 million in new payroll during the month, which is estimated to generate $94,400 in new annual income tax revenue. These dollars go directly toward funding vital city services, from safety to infrastructure.
Community Connections Through Business Visits
To strengthen relationships with current employers, the team conducted 57 Business Retention and Expansion (BRE) visits — a critical tool in ensuring Powell remains a place where businesses can thrive, grow, and stay for the long haul.
Development Toolkit: A Guide for Growth
The city continues to promote its Development Toolkit, a comprehensive online resource outlining Powell’s long-term planning goals, zoning rules, and permitting processes. Designed as a first stop for developers, business owners, and community members, it simplifies the path to successful development.
🔗 Explore the Toolkit: Development Toolkit – City of Powell
