DAYTON, Ohio - September 14, 2018 - Today, The Dayton Power and Light Company is awarding a $450,000 grant to the Downtown Dayton Investment Fund (DDIF) supporting new or continued innovative economic growth initiatives to the commercial property inventory downtown that will make a long-lasting and transformative impact on the city center.
Building on the success of the Greater Downtown Dayton Plan and the investments currently underway, the mission of the DDIF fund is to improve commercial office assets to meet the needs of prospective businesses and entrepreneurs, and grow jobs in downtown by stimulating the urban office market. The DDIF will invest in new and expanded projects to uncover the potential in downtown Dayton. DP&L's grant funds, within the DDIF, will assist business owners with energy programs and infrastructure.
"Thank you, to the Dayton Business Committee for identifying the need and creating the DDIF to fuel Dayton's future growth. Business leaders are investing in the downtown core, companies are relocating their offices to the city center, small entrepreneurs are leading innovation and cultivating their new products and services in collaboration spaces downtown, we can see the economic drivers are working toward building a technology epicenter," said Craig Jackson, DP&L President and CEO.
"All the investors who have contributed to the Downtown Dayton Investment Fund see the importance of supporting urban projects that advance our City and Region as a whole, said Brian Heitkamp, President of CityWide. The DDIF offers financing that aligns well with other economic development tools and will benefit both businesses and developers. We look forward to seeing the impact this fund has on redevelopment and job growth in our downtown."
DP&L, along with CareSource, The Dayton Foundation in partnership with Vectren Foundation, First Financial Bank, Miller‐Valentine Group, Premier Health, and the University of Dayton, have invested in the Downtown Dayton Investment Fund making significant progress in meeting the $10M fund goal. CityWide will contribute capital from a Community Development Financial Institution (CDFI) grant and additional investors continue to be recruited to grow the DDIF.