VWAEDC shares positives, challenges

DAVE MOSIER/independent editor

Van Wert Area Economic Development Corporation Executive Director Stacy Adam not only addressed the accomplishments of that organization during its annual meeting on Tuesday evening, but also, spoke of the challenges and opportunities that lie ahead.

After introducing the combined city-county economic development entity’s other staff members, which include Sue Gerker, community development coordinator; Krista Somerton, Revolving Loan Fund coordinator; and JoAnne Simmerman, Neighborhood Improvement Program coordinator, Adam talked about the objectives of the VWAEDC and what it is doing so far in those areas.

The primary task of the VWAEDC is to add new jobs to the local economy, while also retaining existing jobs and encouraging small business creation.

Adam noted some of the positives happening the county, including the fact that the city and county are now working together on economic development — something she said is being noticed by state officials and site selectors — the county’s having the largest wind farm in the state, the upcoming construction of a 19,000-square-foot ambulatory and outpatient center in the Towne Center development by Van Wert County Hospital, plans to build a 100,000-square-foot spec building on the site of the former Chrysler Amplex plant, and community assets such as the Niswonger Performing Arts Center of Northwest Ohio and Wassenberg Art Center, a variety of festivals and other community events, and the amount of volunteerism provided by county residents.

Recent positives include $25 million in local investment, 142 new jobs created, and $4 million in additional payroll for the county. One site has received food and beverage certification, while AEP is planning to construct a substation at Vision Industrial Park.

Adam also said the number of information requests from businesses has also significantly increased, while also pointing to a training partnership between Vantage Career Center and Northwest State Community College as being a positive for the county — especially with the need for retraining people to fill job vacancies created by retiring members of the Baby Boom generation.

Adam enumerated the benefits of the Revolving Loan (RLF) and Neighborhood Improvement (NIP) programs within the county.

Small businesses are being helped by the Revolving Loan Fund, which provides loans to entrepreneurs creating new businesses in the county. Adam has noted previously that the combining of the city and county RLF agencies has created a more streamlined loan process, while also enhancing the flexibility of the RLF to help new businesses. New businesses can receive a maximum of $25,000 per job created to purchase buildings and equipment or help fund operations.

The Neighborhood Improvement Program provides a number of benefits to the county, including removal of blighted and unsafe buildings and houses, as well as providing sites for possible future community and economic development.

Adam said five properties have already been demolished as part of the program, with another seven properties being processed and 15 properties now deeded over to the Van Wert County Land Reutilization Corporation (land bank) for future demolition.

Once the buildings have been demolished, the land can become side lots for neighboring properties, be used as public sites, be transferred to non-profit entities, or become development properties.

There’s more work ahead, though, Adam noted, with a total of 59 properties in the “pipeline” for possible demolition. The VWAEDC executive director said her office has applied for additional funding for the program.

One employment area Adam said she would like to address is the fact that a majority of county residents don’t actually work in Van Wert County.

Adam noted that, while the county currently has 14,361 residents who are employed, only 5,549 of those are employed within the county.

Other challenges include the need for additional middle-income housing, expansion of the main runway of Van Wert County Regional Airport from 4,000 feet to 5,000 feet to accommodate corporate jets, and the creation of an economic development plan that provides clear and shared vision for future development.