You have reached your limit of free articles this month.

Enjoy unlimited access to myDaytonDailyNews.com

Starting at just 99¢ for 8 weeks.

GREAT REASONS TO SUBSCRIBE TODAY!

  • IN-DEPTH REPORTING
  • INTERACTIVE STORYTELLING
  • NEW TOPICS & COVERAGE
  • ePAPER
X

You have read of premium articles.

Get unlimited access to all of our breaking news, in-depth coverage and bonus content- exclusively for subscribers. Starting at just 99¢ for 8 weeks

X

Welcome to myDaytonDailyNews.com

This subscriber-only site gives you exclusive access to breaking news, in-depth coverage, exclusive interactives and bonus content.

You can read free articles of your choice a month that are only available on myDaytonDailyNews.com.

Kettering could purchase 305 acres at Miami Valley Research Park


In a push to attract new businesses to the city, Kettering could soon buy 305 acres of the land in the Miami Valley Research Park.

The city is expected to approve a contract Tuesday to purchase the undeveloped land in the Kettering portion of the giant commercial business park. The non-profit foundation, Miami Valley Research Foundation, that runs the development has been looking to sell off land and buildings.

Gregg Gorsuch, Kettering’s economic development manager, told the Dayton Daily News that if council agrees to the contract, the city would close on the deal in July. He said the deal will cost the city $1.5 million at closing, and could go up to $3 million if certain deed restrictions are lifted. The deal does not include any buildings already standing.

One of those major deed restrictions requires any business that moves into the park to be science or research-oriented. Gorsuch said the purchase would allow Kettering to lure in new businesses and help current businesses expand within city limits — a major economic driver.

» INITIAL REPORT: Kettering to purchase 305 acres of Miami Valley Research Park

“The biggest restriction is the requirement for any business operation going out there having to have a research and development component to it,” he said. “It’s fine, we can do that, but it would open it up to more business opportunities if it was lifted.”

If the restrictions are removed, the city would then be able to utilize its locally controlled zoning codes to work with prospective businesses, said Stacy Wall Schweikhart, city spokeswoman.

The business park spans 1,250 acres in Kettering and Beavercreek and is home to some of the Miami Valley’s largest companies, including Reynolds and Reynolds. In October, the Dayton Daily News reported that the Miami Valley Research Foundation was looking to sell four buildings and more than 700 acres of undeveloped land valued at $30 million.

In the early 1980s, the state granted more than 600 acres of land and $20 million to develop a business park that would focus on research, scientific, academic and related organizations. Later, more land was purchased in Beavercreek to bring the total to 1,250 acres — that land does not have a deed restriction that the original land has, which stipulates what type of company can acquire residence within the park.

» RELATED: Mass casualty exercise planned in Kettering

Land Holding LLC will assume ownership of the four existing buildings from the foundation. The University of Dayton, Wright State University, and Sinclair Community College will continue to lead efforts, in collaboration with regional leaders, to attract innovative new organizations to the complex, according to a statement.

Local college presidents from Sinclair Community College, the University of Dayton and Wright State University are permanent trustees of the foundation, and they now say the park should transition into a new phase — with new ownership of the land, different leadership in the foundation, and a loosening of property deed restrictions.

WSU, Sinclair and UD presidents are permanent Class A trustees, and MVRF board chair Steve Johnson said they don’t see the need for presidents to be required leaders of the foundation. It would require state action to officially take the presidents off the board.

“The Miami Valley Research Foundation Board is pleased with this news, both for what it means for our community and for the future of the Miami Valley Research Park,” Johnson said. “This investment provides an excellent opportunity for economic development for the future of our community and also provides the Research Park with the stability needed to move forward. This is a great day for all parties involved.”

The original purpose was to promote scientific and technology-based work within higher education while creating a tighter knit community of local universities. Johnston told this newspaper in a previous interview that the recession had impacted the economic health of the park, and it was difficult to use the same business model the park was founded under.

As the economy bounces back, the land will open new opportunities for the city, said Kettering Mayor Don Patterson. He said the universities worked graciously with the city to execute the land purchase.

“Reinvestment in the Miami Valley Research Park is essential to the long term growth and stability of our region,” Patterson said. “As a land-locked community, the opportunity to acquire green space appropriate for commercial development is rare and one we couldn’t pass up. We are confident that this is a wise investment for the future of Kettering.”



Reader Comments ...


Next Up in Business

Get your fresh Georgia peaches: Trendy food truck coming to Dayton
Get your fresh Georgia peaches: Trendy food truck coming to Dayton

A popular Nashville food truck that sells fresh peaches from Georgia is making its way to the Dayton region. The Peach Truck takes the food truck idea and puts a healthy, Southern twist on it — offering fresh, juicy peaches from Georgia. The truck will visit parts of Cincinnati, Dayton and Columbus this summer. The Peach Truck idea came about...
New pet supplies shop opens downtown
New pet supplies shop opens downtown

A new pet supplies business is preparing to open at 133 E. Third St. Project Warmth, to be found on the first floor of Oriel Studios, offers handmade pet beds, mats, leashes, collars, leash hangers, toys, bandanas, hammocks, harnesses, coats and more, the Downtown Dayton Partnership announced Tuesday. RELATED: New downtown Air Force office part...
John Boehner among West Chester-Liberty chamber honorees
John Boehner among West Chester-Liberty chamber honorees

The sixth annual Everest Award will feature a former Speaker of the House, the chief executive officer of a senior community and the president of an auto group. MORE: 20 years of Union Centre interchange Organized by The West Chester-Liberty Chamber Alliance, the award honors leaders who have had a “significant, positive impact on business, the...
Local jobless rates fall in April
Local jobless rates fall in April

Regional jobless rates declined sharply last month as employment rose in most counties and major cities, based on numbers released Tuesday by the Ohio Department of Job and Family Services. In Montgomery County, the area’s most populous county, the unemployment rate fell to 4.2 percent from 4.8 percent in March and 4.7 percent in the same month...
Huber Heights company to show off expansion today
Huber Heights company to show off expansion today

A California company that has moved its headquarters to Huber Heights is cutting the ribbon on its newly refurbished and expanded facility today. NDC Technologies announced in March it was moving its headquarters operation from Irwindale, Calif. to 8001 Technology Blvd. in Huber Heights. The business already had a presence there when it made that announcement...
More Stories