After a recent Leadership Visit to Cincinnati, Ohio the Springfield Chamber of Commerce is looking to apply what they learned as they develop what they describe as ambitious goals for the region.
Those goals are still being finalized as part of their strategic planning, but during a media roundtable Tuesday, Chamber economic development leader Jonas Arjes made it clear, they see development in the region as tied to development in downtown Springfield.
“The challenge is going to be,” Arjes explained, “are we going to be able to compete and entertain those opportunities at a level where it's not easier for that capital to go somewhere else.”
To that point, Chamber President Matt Morrow said he was inspired by a real estate development nonprofit they saw in Cincinnati, 3CDC, that helps reduce the financial risks of redevelopment in that city’s urban core. Morrow says 3CDC is driven by funding from corporations headquartered in downtown Cincinnati. Morrow sees strong corporate anchors and financial incentives as key to redeveloping downtown Springfield.
“Once you have corporate headquarters in your downtown,” Morrow said, “then it becomes very much in their own interest to invest in their neighborhood. They want to keep it up, so their investment is handled well.”
Along with that Morrow repeated the Chamber’s support of a hotel/motel tax increase that will be before Springfield voters in November. The tax is paid by visitors who book local lodging. Money generated by that tax is planned to support a new convention and event center, which consultants say could have over $1 billion in economic impact over the next 30 years. While no location has been chosen for that center, consultants for the City of Springfield recommended it be placed downtown.