CDC Impact: Community Economic Development

Over the last few years, Ohio CDC Association (OCDCA) has been working hard to quantify the impact of CDCs throughout Ohio. We’ve been collecting and analyzing data from our member organizations and are excited to share our findings – especially in digestible bits.

We are pleased to state that, each year, over one million people benefit from the work of Ohio’s CDCs.

This week we focus on community economic development – something nearly all OCDCA members do. Community economic development

  • Creates jobs and entrepreneurship opportunities;
  • Builds individual and community wealth and;
  • Attracts capital to disinvested communities.

Did you know that, in 2016, Ohio CDCs:

  • Invested nearly $35,000,000 to develop the economy in their communities, re-connecting community residents to workforce opportunities, creating jobs, and fostering entrepreneurship;
  • Helped over 42,000 households with job training and small business development, resulting in 1,000 new or expanded local businesses, which created nearly 2,500 jobs in low-income communities;
  • Re-purposed or rehabilitated over 1,000 vacant properties.

There are countless ways in which these activities occur around the state.

For example, in 2016, one CDC in Appalachia loaned approximately $130,000 to new and existing small businesses, which resulted in over 118 new or retained jobs.Local small businesses that sought expansion assistance saw an average 15% increase in sales as a result of this assistance.

Another CDC in Columbus finished and sold a 55,000 square foot warehouse to a local makers space, which now serves a community hub for the neighborhood and the city.

Community economic development is at the center of the work of Ohio’s CDCs. Through the work of the 245+ CDCs across the state, Ohio is fostering an environment that comprehensively improves life opportunities for all Ohioans.

 

Leave a Reply