It’s nice to know that the city of Dayton is no longer giving BGH Studios $125K, but only $50k if these numbers are correct (maybe it’s an additional $50K- hard to tell). And, it’s also good to know that they now have 19 employees- can I see the city income tax filings?
You see, BGH is a “competitor” to my firm. And, my tax dollars just helped give my competition my hard earned money. And if they never actually create those 30 jobs, the city won’t go get my money back. Neither will you.
Last year I spent $15K upgrading our video shooting and editing capabilities at The Next Wave so we could produce High Definition (HD) video. Did I ask for a handout? Of course not.
In the mean time, the city has cut back on recreation programming for kids, cut back on police and fire budgets, raised my water and trash bills, raised my property taxes and can’t pass a school levy. What would 3.7 million do to help in any of those areas?
Would schools with arts programs bring more residents to our city?
Would more police on the street make us feel safer?
Why not hire police just to write traffic tickets and slow people down like Oakwood- and make us feel like we have police everywhere? We’d generate revenue, and maybe not have a perception as a place where the police are slow to respond.
Company Private Investment City of Dayton Investment Jobs Retained Jobs Created Public Investment Per Job Allied Supply $700,000 $35,000 33 5 $921 Assembly & Test Worldwide $2,100,000 $125,000 137 113 $500 BGH Studios $650,000 $50,000 19 30 $1,020 Brower Insurance $796,400 $100,000 111 15 $794 Cannell Graphics $350,000 $0 0 4 $0 IDCast $100,000 $85,000 0 64 $1,328 Ken’s Kars $710,000 $0 5 2 $0 Liteflex $1,700,000 $75,000 0 30 $2,500 Litehouse Green Design $5,000,000 $162,000 0 0 $0 Morning Pride $870,000 $50,000 350 125 $105 Mutual Tool $2,100,000 $100,000 100 65 $606 Nanotek $150,000 $25,000 7 77 $298 Oregon Parking Amenity $0 $850,000 0 0 $0 Paradigm Industrial $262,785 $50,000 18 10 $1,786 Rapid Reaction Center $726,000 $150,000 0 62 $2,419 Real Wire $3,000,000 $250,000 28 15 $5,814 RFID Incubator $0 $1,400,000 0 100 $14,000 Stevens Aviation $1,950,000 $0 65 41 $0 Tax Centers of America $950,000 $100,000 159 40 $503 Webster Station Dev Group $120,000 $85,000 10 6 $5,313
Between Jan. 1 and Wednesday, May 7, the city has approved just under $3.7 million in development grants or offered technical assistance to 19 companies also willing to invest significant funds into their own businesses in order to grow.
All told, the companies agreed to invest about $22 million into their businesses, retaining more than 1,000 jobs in Dayton and creating just over 800 new ones.
“We’ve had a great deal of activity these first two quarters,” Shelley Dickstein, Dayton’s assistant city manager for strategic development said…
Dickstein said she expects the city will continue retention and expansion efforts throughout the year, but that approval of grants may slow down in the fourth-quarter, when the construction season ends.
Instead, the City is helping my competition get a leg up.
I’m also wondering if we aren’t seeing some political favoritism going on. A few of these companies may have political ties.
Does it make you want to stick your hand out too? Or does it make you wonder if we haven’t totally gone off our rocker?
What could you think of doing with 3.7 million that could change our city?
Sportsplex downtown? An ice rink with 2 sheets for tournaments and teaching Dayton kids to ice skate and play hockey? More cops? Turning almost vacant blocks into mini farms?
Share your thoughts.