Finance Fund is proud to be a part of the new 138,000 square foot General Electric EPISCenter under construction on the University of Dayton campus. This new aviation research and development facility furthers the region’s goal to become the ideal location for advancing and supporting the industry.
Interestingly, the facility is being constructed on what is called a brownfield, a site that has become unusable due to the environmental concerns of the facility that previously sat on the property. In the case of the EPISCENTER, it will create a new purpose for a former NCR facility while sparking the local economy with the jobs it will create.
“We are hoping this is a catalytic project for the site,” said Brian Heitkamp of CityWide Corporation, a developer of the site. “This is the first step in making a long term impact on local economies by developing this type of facility. Redeveloping brownfield sites is harder to do, but it is important since they are usually in urban centers.”
Construction of the facility was partly made possible through New Markets Tax Credits and private investment from Finance Fund, CityWide Development Corporation, Urban Research Park CDE, LLC and PNC Community Development Corporation. The New Markets Tax Credit program encourages private capital investment into designated low income communities to spur economic revitalization.
This public-private partnership is an excellent example of how the New Markets Tax Credit program helps regions create a sustainable economic path. By investing in the EPISCENTER, we are ultimately investing in the future success of the Dayton region.
Learn more about the GE EPISCenter by watching the below video:
Tags: Aviation, GE EPISCenter, New Markets Tax Credit, Tech Town, University of Dayton
