Hamilton County Economic Development makes a Big Impact

Earlier this month the Hamilton County Office of Economic Development, also known as the Hamilton County Development Company (HCDC), held its annual meeting celebrating another successful year of helping businesses large and small succeed.  The Office of Economic Development offers a “one-stop” shop to businesses of all kinds through a unique combination of services.  HCDC provides three distinct services:

1. Lending services tapping into Federal and State programs;Economic development assistance ranging from tax incentives to development site information and analysis;

2. Entrepreneurial assistance through the operation of the tri-state’s largest business                 incubator.

HCDC operates one of nine Edison Small Business incubators in the State of Ohio.  Hamilton County’s small business incubator has been the most successful of its kind, generating $21.9 million in revenue in the last fiscal year, an amount more than half of the $40.4 million generated state-wide.  HCDC’s small business incubator currently houses 45 businesses, 24 of which are technology oriented and 15 of which are minority or female owned businesses.  Businesses at the incubator currently provide over 200 jobs with an average salary of $39,000 per year.  This past program year (ending June 30, 2000), the incubator “graduated” 10 businesses, which moved out into the community to further grow their business.  During the year, HCDC also played a crucial role in bringing a major corporation, The Gap, into Hamilton County.

ExTRA, ExTRA, READ ALL ABOUT IT!! 

Hamilton County has added a new benefit for all employees effective January 1, 2001.  The new program is called ExTRA (Employee x(tra $$) Transportation Reimbursement Account) and permits employees to pay for certain eligible parking, mass transit, and van pooling expenses through a pre-tax payroll deduction.  So how does ExTRA work?  An employee can open an ExTRA account with a pre-tax payroll deduction, and then reimburse themselves from their account with pre-tax dollars (monthly maximums are $175/month for parking and $65/month for mass transit). Since the County has limited parking spaces available and many employees must pay to park their cars (some pay in excess of $1000 per year), this new program will ease the financial burden for employees by decreasing the net cost of parking.  Also, the benefit applies to Metro or RideShare van pooling costs to employees.  The ExTRA Program is expected to be very popular with County employees.  For more information contact your personnel/payroll officer or Kim Pennekamp at 946-4705 in the County Personnel Department.

Cinergy Field Modifications continue on track

When Reds fans go out to the “old ball game” next year they will experience Cinergy Field as they never have before.  Crews are hard at work changing the face of Cinergy Field.  The County faces the unique challenge of maintaining Cinergy Field as a viable home for the Reds for the next two baseball seasons while providing room for the construction of the Reds’ new home, Great American Ballpark.  The photos below show the demolition of a portion of the stadium bowl that is well underway.  A welcome new addition this year at Cinergy Field will be natural grass.

County wins Distinguished Budget Award for 8^th year in a row

The Government Finance Officers Association has awarded Hamilton County with a Distinguished Presentation Award, the highest recognition possible for local governmental budgeting.  The year 2000 marks the eighth consecutive year the County has received this prestigious award.  Congratulations to the Suzanne Burke, the budget staff and all of you who contribute to the County’s budget process.  

Have A Great Week !!!