Why Over-the-Rhine Matters Part 2 PDF

8/8/2019 Why Over-the-Rhine Matters Part 2 PDF

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Presentation: Why OTR Matters

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Population/Workforce Growth Tax Revenues

Marketing/Branding

Heritage Tourism

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OTR is one of Cincinnatis most potenteconomic assets. Why?


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Economic development is based largely on the presence ofskilled labor

Cities compete for talented young professionals

Population & Workforce Growth

The name of the game is attracting people

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Tax Revenues

Historic districts have positive impacts on propertyvalues resulting in higher values and faster

appreciation Philadelphia Study found 131% premium in

historic districts

Kalamazoo, MI - Found a 313% premium on

land values in a historic commercial district Louisville, KY - Found an 80% higher

appreciation in historic districts

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OTR land values are significantly below what theyshould be, depriving Cincinnati of critical revenue

potential.Mt. Adams: Morethan 11 Xs higherthan

Over-the-Rhineland values

Tax Revenues

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Roughly 93 million Americans include a cultural arts,heritage or historic activity or event while traveling.

Heritage Tourism

Maryland: heritage tourism produces $2.3billion per year

Florida: heritage tourism produces $3.7billion/yr

Colorado: heritage tourism impact is $3.1billion/yr

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Heritage Tourism

OTR has massive tourism potential

Prohibition Resistance Tour 2009 sold out andtook 520 participants through OTRs BreweryDistrict over two days

Subway tours sold out within 72 hours

Inaugural 2010 church tour sold out with 200participants

Neighborhood

Breweries

Churches

Subway

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OTR is undergoing major changes and has significantmomentum

Over 500 new residential units (since 03)

Over $80 million in development (since 03)

$46 million makeover of Washington Park tobegin in August

$72 million new SCPA school almost complete

$20 million renovation of Rothenburg school

$350 million casino to break ground late 2010

750,000 Findlay Market visitors in 2009

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Documents

Why Over-the-Rhine Matters Part 2 PDF