Heritage Ohio distributes first-ever state Return on Investment Report
TIFFIN, OHIO – May 26, 2021 – Heritage Ohio, Ohio’s official historic preservation and Main Street organization, released its first-ever Return on Investment Report for accredited Main Street communities. The report provides details about the downtown jobs and businesses created, as well as the investment made during the course of 2020. Twenty-one Main Street Communities and one Urban Main Street City, Cleveland, participated. Data for the report was finalized in February, and the report was distributed this week. The full report can be viewed at tiffinseneca.org.
Key takeaways from the survey include:
- Tiffin ranked No. 2 out of the 21 Main Street Communities for the total amount of investment, with $4 million. This represents 28 percent of all investment for these communities. Only three of the Main Street communities had significant investment over $1 million – Troy ($4.2 million), Tiffin, and Wooster ($2.8 million).
- Tiffin tied for No. 2 out of the 21 Main Street Communities for the number of net, new businesses created, with six. Lebanon and Marietta also had six, and Medina had 7.5. The total number of net, new downtown businesses created overall in Ohio was 36. Therefore, Tiffin represents 17% of the net, new businesses created in Ohio Main Street communities.
- Tiffin ranked No. 3 in total number of net, new jobs created (full- and part-time) with 32. Only half of the communities had any job gain, and only Troy, Wadsworth and Tiffin had more than 20 new jobs created.
- Tiffin was the only Main Street Community in Ohio to place in the top three for investment; net, new, businesses; and jobs created in the downtown.
Heritage Ohio’s Director of Revitalization Frances Jo Hamilton applauded Tiffin’s economic impact in 2020, saying “Last year was very challenging for all of our communities, but Tiffin again demonstrates that a strong, consistent Main Street approach year after year can build resiliency and move a downtown forward even in the toughest of times.”
Tiffin Mayor Aaron Montz was delighted with the news: “Tiffin’s downtown program is nationally accredited and has been winning state awards every single year. This is just further proof that we have one of the best downtowns in Ohio and one that is experiencing strong growth and recovery.”
Nevin Martin, chair of TSEP’s Downtown Development Board, echoed the mayor’s comments: “These great numbers are the product of a great spirit of collaboration, a great model for downtown revitalization in Main Street, and the efforts of the more than 200 businesses and more than 50 volunteers helping make it happen.”
About Downtown Tiffin
The revitalization of downtown Tiffin began in 2011, when a group of community members came together to for “Tiffin Tomorrow”, with the goal of promoting and encouraging economic development in downtown Tiffin, and creating plans, programs and actions to ensure long-term vitality and prosperity. In 2014, the city of Tiffin contracted with SIEDC to act as the downtown organization and “Tiffin Tomorrow” came under the SIEDC umbrella as the “Downtown Development Committee,” which serves as the governing board of the downtown organization. In 2015, Tiffin joined Heritage Ohio’s Ohio Main Street Program. For more information, click here.