DAYTON, Ohio (WDTN) – $41 million is going towards the Dayton Arcade revitalization after the Montgomery County Commission approved two resolutions, adding to the tens of millions of dollars in different tax credits.
Tuesday afternoon, the commission unanimously approved the funds for the roughly $70 million project.
$500,000 was approved as a partnership with The City of Dayton.
The other half will go to the Arcade Innovation Hub as part of an economic development/government equity (ED/GE) grant.
Commission president Debbie Lieberman said while the three commissioners approved them, the consent came from all over Montgomery County.
“All of the jurisdictions in the community that are on our ED/GE committee approve those and recommend to us, then we go ahead and do that,” said Lieberman.
The Innovation Hub planned as part of inside the Dayton Arcade will be a mixed-use facility, housing University of Dayton research programs, as well as various businesses, and start up companies and will provide over 400 jobs when all is said and done.
But Lieberman said after decades of the potentially beautiful building has sat vacant, she is excited about the catalyst this should be for more downtown investment.
“There have been a lot of different starts at it, and for one reason or another it didn’t succeed,” said Lieberman. “So now, I think we have the right partners, the right development companies that are coming in, and going to make this happen.”
In 2017, the commission approved $200,000 for funding for the project.