Centers of Development proposed to focus state investment around urban hubs

A week after Cincinnati was named a Hub of Innovation & Opportunity in Consumer Marketing, an additional effort is now underway that would further focus state investments around existing assets like universities, medical districts, and other areas of research and development.

"The basic idea is to have state resources focused around existing resources and assets," Senator Eric H. Kearney (D-Cincinnati) said about his proposed legislation.  "This would go one step above the state's Hubs of Innovation & Opportunity, and better take advantage of these proven job creators."

As proposed by Senator Kearney, Senate Bill 284 would create "Centers of Development" that would become areas of focus for state investment.  The idea behind the focused investment approach is to leverage private investment and create a "catalyst for development and job creation."

Centers of Development would be determined by place-based institutions that are permanently rooted in specific locations.  The institutions would be further examined for their ability to generate jobs, create local business opportunities, and contribute to human, social and cultural capital. Kearney believes that such an approach will result in the best return on investment for Ohio taxpayers by leveraging assets that are proven job creators

"This legislation will support and enhance the good work being done by Governor Strickland and the Ohio Department of Development," said Senator Kearney.  "The hub zones will become more attractive for private investment due to the level of activity taking place there when it comes to job creation, business activity and infrastructure investments."

An area that meets one of the following three criteria would be eligible to be designated a Center of Development by the State of Ohio:

1. Designation as a Hub of Innovation & Opportunity by the Ohio Department of Development
2. Designation as a Center of Excellence by the Ohio Board of Regents
3. Medical complex employing more than 5,000 employees that provides in-patient care and conducts medical research and education

After receiving the new designation, business and residential developers within two miles of an anchor institution would receive additional consideration for various incentive programs.  Those developers would have to first be asked to show how their projects link to the anchor institutions.

"Cincinnati is full of locations that could be named Centers of Development," Senator Kearney explained. "Institutions like UC and Cincinnati Children's Hospital, or research giants like Procter & Gamble would be at the top of the list for designation.  A two-mile zone around any of these assets would accelerate investment within the city."

Senator Kearney says that the legislation would not involve any new money, but rather provide a new policy approach towards allocating state resources.  The legislation could be approved as early as November 2010 after it is further developed by the related state agencies.

Writer: Randy A. Simes
Photography by Tiffani Fisher
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