Working in a market such as Dayton, OH requires business savvy and complete understanding of demographics. For instants the difference between Ohio on the whole and the Greater Dayton Area MSA, which includes such county areas as: Butler, Clark, Darke, Greene, Miami, Montgomery, Preble and Warren. The demographics of Montgomery and Miami are excellent for an expanding company to put in a service type outlet.
The population backdrop is somewhat similar to the entire state of OH. Ethnically speaking it is mostly white with Asian populations and Black Americans at about 10% to 11%. In Montgomery County it is 19% Black American and only 10% in Clark County, but the middle class Black Americans are moving in and fixing the diversity issues. There are quite a few people who commute to work in Marysville at the Honda Plant and Proving Grounds. Also a huge distribution center there with many large carriers located and Rail Service by CSX and also huge numbers of Auto Haulers. About 13,000 at Honda work there. One of the reasons that the Japanese wanted to have competing rail service with their plant in San Antonio as part of the negotiations. So they could squeeze the price point out of the rail companies similar to Rockefeller’s exploits. One thing that is unbelievably nice about the area is the many colleges and Universities in the area, 29 in all the biggest being University of Dayton with 10,000 enrolled, Wright University with 14,000 and Sinclair Community College with 22,000. This makes for a very good young and energetic group of people. The clientele is equally as inviting with 202,000 inhabitants between the ages of 25-34 not including the part-time college students. 35-44 representing nearly 250K pop and 45-54 at 215K.
The population South of Town is expanding and we see Scarsborogh to Centerville with great markets and everything in between is golden. The USAF also has Wright Patterson AFB with excellent inflow to the economy even though much of that is deployed presently, still it impacts the city in an extremely positive way. About 25,000 people work there and that is after the lay offs and discharges previously. They expect with BRAC that they will be on the receiving end of additional attachments and squadrons serving in Dayton as well as R and D since the colleges offer that level of researching. Also with the huge museum of flight and being the history of the inventing flight makes it good also for tourism and positive PR for the Military. Other large employers included Delphi but they have had significant labor lay offs and GM is a biggy there. In health Care about 9000 workers. Airborne Express and Emery Air freight also claim fame to the area. 7500 people work there and you may recall the merger with DHL? The good weather of the region provides Airborne a much better chance at this hub facility than in other parts of Michigan, IN, IL, NY, KY. The Seattle based company has brought many jobs to the region. Emery has laid off people but at one time employed over 3000 in the area. Emery has really worked hard to work with the Manufacturing industry and helped OH The just in time world of manufacturing has to take into account rush situations for total capacity scheduling, leading that charge was it’s bay area parent company and they manufacturing sector did rely on Emery for that;
Also of significant value is it’s ability to deploy new wave technologies at it’s hub and custom clearing houses. Much of this technology was in response to FedEx’s market advances and UPS shear size making it difficult to compete. The University of Dayton employs 4500 folks all fairly high wage earners like their blue collar UAW counter parts at the GM SUV and Delphi centers. Here is some recent news as of today’s watch: Dayton Recent News contains some Blues; For instance we all know the state of the Union when it relates to the steel industries.
At one time employing 4200 people. But Dayton is not primarily a steel town, it is a manufacturing town and the birth place of aviation. Today the market sectors which are up in the greater Dayton area include: Construction in residential, Retail is up, Real estate, Healthcare and services is big. Commercial construction is being primarily boosted with school projects recently. Square foot costs on the robust side of town south side is anywhere from $2.30 to $12.00 per square foot. Retail space is $2.30 to 3.00; Office is $7-12.00; Industrial runs the the entire spectrum. Office Parks include; Franklin, Heritage and South Tech Center all good for professional service businesses and small businesses. Industrial Parks are also plentiful with Emery Logistics Park 265 acres in all. Lebanon Commerce Center for 200 acres, Moraine Industrial Center and Park center Industrial. Although Manufacturing has declined drastically over the last decade the Industrial Parks have life. Downtown Office buildings include Kettering, Mead, First national, Reibold, 5/3 Bank and the Key Bank Buildings. Over 3 million square feet with a convention center right in the middle. There is significant space underutilized and unoccupied. Close by Cincinnati has done what academics think is unthinkable;
But Austin TX also had a recent issue and fired it’s area economic development recruitment group too.
We are seeing this in many areas were high-end $60-80K per year jobs have been lost. Although this maybe an unfair comparison you can use this lesson when you discuss new technological recruitment to derive jobs in cities of similar size. IN Dayton there are issues with vacant properties looking run down and hurting the prospecting and retaining of lessees in other buildings which is said to lead to the decay and they have proposed a fee to take care of this. Some apartments also in the area are a drag on their owners and the area.
All bad signs of urban flight and need of revitalization to bring people back to town from the out of town suburban box stores. It can be done. Look at Brick City in OKC, River Walks in Columbus GA, and San Antonio TX. Alexandria Boardwalk area and Torpedo Factory shops. Some of the surrounding suburbs scare us more as many of these areas need an uplifting too. In the other suburbs, which are newer they have grown the new style way with retail box stores and shopping centers. And with that office parks such as Wright Executive and Newmarks 5 office complex tech style parks in the area, which have done well and are about 88% occupied now. Unemployment is 6.1% and I see a another couple of ticks on that before things are through since the manufacturing sector is 18% while we know the US nationwide average is at 13%.
About 148,000 are employed in services in the Greater Area which we had to double check as that seemed high, but it is correct and Dayton has made a good transition and better than most cities its size over the past decade. Service sector could grow some more there as things return to a normal economy. A considerable amount of new jobs for the area are posted at Nationjob.com and even with the adverse tax structure to businesses in OH things are doing better than their neighboring states.