Duvall & Associates, Inc.
BUSINESS ADVISOR NEWSLETTER
 

Visions of a vibrant Dayton dance in writer's head

- by Alan Duvall 

Published in Dayton Daily News   December 24, 2006 

“I’m dreaming of a vibrant Dayton, just like the one I used to know.” 

I remember a Downtown Dayton which served as a bustling centralized destination point for shopping and cultural events.  Unfortunately, the area has suffered an erosion of its business foundations.  

Late this year, Santa seemed to bring a varied bag of hope to the Dayton region.  It is certainly refreshing to pick up the newspaper these days and view uplifting headlines of positive progress in the Miami Valley. 

For example, a vision for a $230 million riverfront community of residential, commercial, retail and entertainment venues was announced. 

Although the project is heavily dependent on adequate appropriation of public funds, it is encouraging to find investors intrigued by Downtown real estate possibilities. 

A proposed $19 million Arcade renovation featuring restaurants, museums, retail and entertainment attractions has entered the feasibility stage.  Largely vacant since 1991, the Arcade is a historical treasure which may provide additional stimulus to Downtown revitalization. 

Witnesses to the impressive creation of a mini-city at The Greene have to wonder why the same concept cannot be duplicated Downtown.  If the key components of accessibility, parking and security can be attained, downtown’s central location in the region can provide the foundation for economic momentum.  

Such dreams are supplemented by the existing presence of cultural pillars such as the Dayton Art Institute, Schuster Center, theater and music ensembles.  There's also entertainment destinations such as Fifth Third Field, home of the the Dayton Dragons, and the Oregon District. 

Businesses must buy into the Downtown concept as well.  One leader in this movement is CareSource, a Medicaid managed-care provider.  The company announced plans to locate its 10-story headquarters at the key juncture of Main and Monument.  Currently housing 600 employees with a projected 1,100 workers, the project will provide a signature testament to faith in downtown. 

Down the street, Monument Avenue’s Tech Town won a $28 million grant to develop a revolutionary research center.  Focusing on high-tech industries is key to Dayton's rebirth given its rich innovation heritage and existing anchors such as Wright-Patterson Air Force Base, Lexis-Nexis, NCR and several fine universities.   

Even perceived lemons may be marketed as lemon-aid.  Thus, empty office space creates low rents which in turn generate enticing locations for prospective businesses. 

“May your downtown days be merry and bright.” 

Alan Duvall is a certified public accountant in Dayton.  Contact him at Alan@Duvallcpa.com.