It's one big number: $2.12 billion. That's the total economic impact the Port of Greater Cincinnati Development Authority has had since it was created in 2001. The number-crunching was done by the Economics Center for Education and Research at the University of Cincinnati. The Port Authority helps redevelop old industrial brownfields and provides financing assistance to projects throughout Cincinnati and Hamilton County.
The study found that brownfield reclamation efforts returned 155 unusable acres within Hamilton County to productive use, using more than $10 million in state grants as well as private investment in eight brownfield cleanups. More than $700 million of the economic impact is in wages and salaries representing 21,694 jobs, the agency says.
"We have seen dramatic growth in our impact on this community since 2005," says Kim Satzger, president of the Port Authority. The study says business activity from the annual operations of the Port's projects, when completed, is expected to increase by 52 percent from 2005 to 2007.
Writer: David Holthaus
Source: Kim Satzger, Port Authority
Enjoy this story?
Sign up for free solutions-based reporting in your inbox each week.