By 1808Delaware
Powell’s economic development activity continued to build momentum in May, with new restaurants, expanding payroll and a growing project pipeline showing the city’s business community in motion.
Two new dining destinations helped mark the month: Khaab Indian Kitchen & Bar opened at 230 W. Olentangy St., while Chapala Mexican Grill opened at 240 N. Liberty St. Their arrivals added fresh energy to Powell’s commercial mix and reflected a broader pattern tracked in the City’s May 2026 Economic Development Report. According to the report, Powell’s Economic Development team has managed 317 projects to date, a 50.3% increase compared with May 2025. That total includes 19 public and private parking agreement projects, underscoring how growth is being shaped not only through new businesses, but also through the infrastructure and agreements that support them.
New Businesses, Retention And Expansion
The May report identified 25 new businesses or startups, a 78.6% increase over the same point last year. Those projects represent 107 full-time equivalent positions, $7.7 million in payroll and $14.5 million in capital investment.
Business retention and expansion also remained a major part of the City’s work. Powell reported 12 retained or expanded businesses, a 500% increase over May 2025. Those efforts accounted for 44 retained full-time equivalent positions, seven new full-time equivalent positions and $426,880 in new payroll.
The City also reported 115 business retention and expansion interactions so far this year, compared with 77 in 2025. Those conversations are a quieter part of economic development, but they often matter most. They help identify what existing businesses need, where growth may be possible and what obstacles could slow investment.
Payroll Growth With A Public Benefit
The report shows $8.13 million in new payroll for 2026, a 27.8% increase over May 2025. That payroll growth is expected to generate an estimated $162,600 in new annual income tax revenue for City services. For a community like Powell, that connection is important. New payroll does not simply signal private-sector activity. It also helps support the public services, planning and local investments that residents rely on as the city continues to grow.
The report also places the 2026 figure in a three-year context. Estimated new payroll grew from $5.75 million in 2024 to $16.58 million in 2025, with 2026 estimated at $8.13 million so far. The broader payroll impact shown in the report reflects a continued upward trajectory, with Powell’s economic development work contributing to greater income tax stability.
Grants Turning Into Investment
Powell’s grant activity also continued to show a strong return. The report lists $267,063 in grants creating $9,335,124 in capital investment, described as a 3,395% return on investment. That figure highlights one of the practical roles of local economic development: using targeted support to unlock larger private investment. In Powell’s case, the report shows that relatively modest grant awards have helped leverage millions of dollars in improvements, projects and business activity. The three-year grant impact chart shows capital investment tied to grants rising from $6.58 million in 2024 to $12.1 million in 2025, with more than $9.3 million already reflected in 2026.
A Broader Project Pipeline
The report’s project breakdown shows activity across several categories, including attraction, retention, expansion, startup, redevelopment, organization, new development and government agreements.
Attraction projects made up the largest category, with 135 projects tracked. Retention followed with 85 projects, while expansion accounted for 30, startup activity for 28 and redevelopment for 20. Additional work included organization, new development and government agreement projects. Together, the numbers point to an economic development program operating on several fronts at once. Powell is not only recruiting new activity. It is also working with existing businesses, supporting redevelopment and managing agreements that help guide future investment.
Momentum With Local Impact
The May report presents a picture of steady, measurable growth: new restaurant openings, more business interactions, rising payroll, retained jobs and millions of dollars in capital investment.
For residents, the impact may appear first in familiar ways: a new place to eat, a revived storefront, a busier commercial district or more services close to home. Behind those visible changes is a larger economic development effort aimed at strengthening Powell’s tax base, supporting local employers and preparing the community for continued investment. May’s numbers suggest that work is continuing to pay off.
Source: City of Powell
