City group reviews economic development plan ahead of council approval

Oxford’s economic development strategic plan is set to go before City Council for adoption following a final review by the Community Improvement Corporation (CIC) June 6.

The plan, prepared by Red Tiger Investments, lays out recommendations for industries that the city should invest in and projects for the city to take to grow its economy. It also gives four overarching goals for Oxford in the coming years, including the ambitious goal to create 1,000 new jobs in the next decade and to limit the city’s reliance on Miami University as a consumer market. 

Sean Balnes, the founder of Red Tiger Investments and a Miami alum, presented the economic development plan to CIC at the June meeting. Balnes explained that the plan would make Oxford a favorable location for emerging industries and startup companies in southwest Ohio. 

“When you look at southwest Ohio, it really is a leader in [the] aerospace aviation and advanced manufacturing industries, especially along I-75 between Dayton and Cincinnati,” Balnes said. “A crucial factor in enhancing Oxford’s potential for success is to capitalize on these two major economic drivers and their related supply chains along this corridor.”

Balnes laid out four projects that he said could enhance Oxford’s economy: establishing the Miami Airport Hub as an innovation hub, establishing the Uptown district as an innovation and creativity corridor, transforming the Western Knolls property into a residential development and creating a collaborative strategic plan with Miami for newly planned projects and established assets. 

The city is also aiming to reduce its dependence on Miami as its primary economic driver. Balnes explained that attracting advanced manufacturing companies and growing the city’s urban center can grow its year-round economy. 

Seth Cropenbaker, Oxford’s economic development specialist, elaborated by saying a primary goal for the city should be attracting people to live here all year. 

“That’s a really important aspect of it, to level out our economy,” Cropenbaker said. “The reality [is] we’ve got two four-month economies that happen when the kids are here. In order for us to level that out and right the ship … we need more people in town every day, year-round, developing jobs that don’t have that seasonality to it.”

Members of CIC raised concerns about whether Oxford’s proximity to large cities like Dayton and its distance from major highways would deter emerging companies from investing in the city. Cropenbaker, said Oxford can focus on attracting startup companies in aviation looking for an affordable location without a reliance on being close to a highway. 

Members also expressed worries about how they can present this plan to both council and residents of Oxford by showing how the plan is progressive without implying a massive reshape of Uptown. 

“I’m nervous that people will think that means that we are going to integrally reshape what Uptown looks like,” said council member Alex French. “Perhaps [elaborating on] the fact that … we want to move Oxford forward, it’s about right-sizing our economy, but it’s also about keeping Oxford, Oxford.”

The CIC voted unanimously to recommend the plan to City Council for adoption at its June 17 meeting. The recommendation comes with three amendments to show that the plan won’t radically transform Uptown, emphasize the plan’s progressive policies and recognize the city’s three parallel projects — the zoning code rewrite, the historic preservation work and the economic development strategic plan.