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Wagner Business Incubator and Coworking Space
The Wagner Property in Sidney has been a tax delinquent and abandoned industrial brownfield for 20+ years. Through the Shelby County Land Bank, Sidney seeks to foreclose on the property, remove the hazardous blight, and revitalize it into a productive job-producing Business Incubator and Coworking Space. We anticipate that this redevelopment will facilitate the launch of 20-35 early-stage companies creating 75 high-paying jobs. The total project is expected to cost approximately $5-6 million.
Andrew Bowsher, City Manager after Nov 5th, 937-498-8100, email@example.com.
James Hill, Sidney-Shelby Economic Partnership, 937-498-9554, firstname.lastname@example.org
440 Fair Rd, Sidney, Ohio
$1,000,000 - Ohio Allocation 2021
$1,000,000 – Ohio Brownfield Program 2021
$1,000,000 – Local Match to above programs
Total Match - $3,000,000
Construction or Capital
After obtaining $2 million in State funds and committing another $1 million in local match, a total of $3 million in matching funds has been secured and will be allocated in 2022. Our project team is exploring additional matching funding sources that include the following: Vibrant Community Program, USEPA Cleanup, EDA, USDA Rural Development, and CDBG Target of Opportunity. We are working to finalize the entire financial stack for this project.
Vibrant Community Program, USEPA Cleanup, EDA, USDA Rural Development, and CDBG Target of Opportunity.
After decades of decay, this neighborhood is in desperate need of revitalization and investment. Since this brownfield is located on a major thoroughfare, this revitalization is also important for improving the overall community image.
Sections of this facility have collapsed in recent years, endangering the safety of pedestrians and vehicles traveling in the public right-of-way. Elimination of this safety hazard is a significant community need.
Sidney-Shelby County would benefit greatly from a center for innovation, entrepreneurism and new business development. The community is also in need of a co-working space for individuals to work remotely, especially in the age of COVID-19. This is critical to a rural community competing in the global environment.
Located just blocks from the central business district, this redevelopment project is a key element in the City of Sidney’s Comprehensive Plan and Downtown/Riverfront Development Strategy. This neighborhood would benefit greatly from a “Job Hub” that could provide good paying jobs for individuals living nearby.
Project success will be determined by reaching several milestones with the project. Our first milestone is to demolish the hazards onsite and address any necessary environmental cleanup. Our secondary milestone is to redevelop the property into a business incubator and coworking space that would create jobs and investment in the City. Our final milestone will be achieved by measuring the economic output at the incubator. Metrics like the number of companies launched, number of jobs created, payroll of the companies, graduation rate, financial sustainability, annual progress toward graduation are appropriate metrics we will capture as success measures.
Job estimates come from the capacity of the incubator and coworking space.