Study says change essential for Dayton's economic development

Consultants outline six recommendations to help the city's economic development delivery system.

By Joanne Huist Smith
Staff Writer
Friday, December 14, 2007

DAYTON — It's time for change, Dayton. That's the message coming from a study by KMK Consulting Company, LLC looking at ways to improve the city's economic development delivery system.

"We got six pretty significant recommendations and we're certainly evaluating them and devising a plan of attack," Young said.

Five organizations impacting economic development in Dayton were reviewed as part of the study, including the city's Department of Economic Development, CityWide Development Corporation, the Downtown Dayton Partnership, the Dayton-Montgomery County Port Authority and the Greater Dayton Foreign Trade Zone.

The study found the city's biggest inefficiency fell in the area of business retention.
"Everyone does it yet no one is responsible," the study said.

Another obstacle pointed out in the study, "none of the staff of the various organizations, nor any of their board members interviewed, indicated a willingness to give up any of their 'turf' and narrow their current scope of services."

The six recommendations include:

• Creating a specialized agency to direct a new, consolidated business retention and expansion program for the city. The program should be managed by an independent agency on an interim basis until a development authority has been formed.

All business retention activities currently being conducted for the city should be consolidated into the new program.

• Create a government oversight committee to guide the consolidation of economic development services to achieve bold delivery system improvements for the city. The consolidation should be accomplished in six months.

• Launch an initiative to reinvent downtown Dayton. The city, in partnership with the county and the private sector, should hire a national consultant to analyze the Dayton market and recommend ways to transform the city's core into a residential community.

• Form a city development authority or a city/county development authority that would be located at one site and called, the Dayton Montgomery County Growth Center. The collaborative would be governed by a private sector board selected by the mayor and Montgomery County Commission.

• Create a private-sector deal fund. This support finance function would source and manage private-sector equity and debt into the development pipeline. Private sector funds can be raised from investors who are interested in the redevelopment of Dayton.

• Expand support of the Regional Leaders Forum. This collaborative should be engaged in an advisory role focusing on regional cooperation. All the individual members of the Leaders Forum should have a interest in the competitive success of the urban core of the region that is the brand name of the region — Dayton.