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LETTER FROM PRESIDENT & CEO, LAURA N. BRUNNER

2020 marked The Port’s 20th consecutive year of making real estate work by improving property values, creating jobs and narrowing the wealth gap in the City and Hamilton County. Of course, 2020 also marked a year no one will ever forget. As we all know, many businesses and organizations did not survive the pandemic. We are very blessed and fortunate to not only survive, but actually thrive during the time when many were shut down. And we have all of you to thank for your support, help and partnership as we navigated through this once-in-a-lifetime crisis. Thank you.


Beginning this year our Import Report will be distributed digitally only. We hope you enjoy this year’s report!


Here's a quick look back at highlights from our work in 2020, with more detail on each topic found within this report:

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INDUSTRIAL DEVELOPMENT

Growing Hamilton County by transforming historic industrial properties back into productive use to attract manufacturing jobs

 

2020 IMPACT

$800,000

in new funding for cleanup

150

jobs created on former Cincinnati Gardens site

$3.7MM

new Powell Valves facility in Camp Washington

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SUPPORTING JOB CREATION

Port’s Industrial Strategy brings international aerospace company, jobs to Bond Hill

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SUPPORTING ENVIRON. JUSTICE

The Port offers a new financing tool for environmental remediation

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SUPPORTING JOB CREATION

KAO POW! The Port punches the winning ticket for two manufacturing companies

PUBLIC FINANCE

Bringing innovative public finance tools to stimulate private sector investment in commercial real estate and redevelopment of complex sites

 

2020 IMPACT

$380MM

in financing issued

843

homebuyers helped with down payment assistance

$368K

in loans issued to support small businesses

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SUPPORTING JOB CREATION

The Port plays major role in one of the largest development projects in Cincinnati’s urban core

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SUPPORTING HOMEOWNERSHIP

A record year for Communities First, helping over 800 people buy a home

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SUPPORTING SMALL BUSINESS

DREAM Loan Fund supports the expansion of two businesses into East Walnut Hills

NEIGHBORHOOD REVITALIZATION

Driving broad redevelopment of residential and commercial properties to promote thriving neighborhoods throughout Hamilton County

 

2020 IMPACT

207

properties put back to productive use

$2MM

invested to stabilize 14 properties

21

homes built or rehabbed by The Port and its managed entities

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SUPPORTING COMMUNITIES

A sharpened focus on affordable housing

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SUPPORTING SMALL BUSINESS

A solidified Bond

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SUPPORTING JOB CREATION

Prominent Bond Hill property to become mixed-use development

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SUPPORTING COMMUNITIES

Commercial team builds capacity to amplify impact in neighborhoods

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SUPPORTING HISTORIC FABRIC

Landbank stabilizes historic structures, preserves fabric of communities

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SUPPORTING HOMEOWNERSHIP

Landbank's partnership with Habitat for Humanity makes homeownership more accessible

PUBLIC PROJECTS

Partnering with community organizations and institutions throughout Hamilton County to revitalize the City and County's most complex and disinvested real estate

 
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SUPPORTING ECONOMIC DEVELOPMENT

The Port Acquires Millennium Hotel, Donates Contents

The exterior of the Millennium Hotel didn't change very much in 2020, but that doesn't mean activity wasn't in full swing in and around the Elm Street property in downtown Cincinnati.

MANAGED ENTITIES

The Port manages three mission-aligned entities - The Hamilton County Land Reutilization Corporation (Hamilton County Landbank), Homesteading & Urban Redevelopment Corporation (HURC), and Greater Cincinnati & Northern Kentucky Foreign Trade Zones (GCFTZ).

 
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The Hamilton County Landbank was formed in the aftermath of the Great Recession with the mission of returning vacant properties to productive use. Since 2012, over 800 properties have been sold to new end-users for homes, gardens, offices, and more.

LANDBANK PUTS 207 PROPERTIES BACK TO PRODUCTIVE USE
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HURC REHABS AFFORDABLE HOMES ACROSS HAMILTON COUNTY
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The Homesteading & Urban Redevelopment Corporation (HURC) was established in 1976. HURC is dedicated to improving the quality of housing stock and increasing affordable homeownership opportunities by providing quality single-family homes with minimal overhead.

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The federal Foreign Trade Zone (FTZ) Program began in 1934 to provide companies a competitive edge in the global marketplace. FTZs 46+47 encompass 8 counties in Greater Cincinnati and Northern Kentucky.

FTZs 46 + 47 PROVIDE BENEFITS TO 10 OPERATORS EMPLOYING OVER 3,500 PEOPLE.
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ECONOMIC EQUITY

The Port’s work focuses on equitable development to promote job creation, improve property value, increase homeownership, and achieve the highest and best use of real estate. Real estate is a key driver of both economic outcomes and quality of life, and we always consider how can we do more within our scope to expand access to local opportunity through real estate.

 
A Strengthened Commitment to Economic Equity and Inclusion

In late Fall 2020, The Port welcomed Jilson Daniels as its new vice president of economic equity, a newly created role intended to increase The Port’s focus on delivering economic equity and inclusion in all of its projects.

Since his start, Daniels’ has leveraged his strong background and expertise in economic inclusion and supplier diversity to increase the number of minority-owned construction and real estate development firms working on area redevelopment projects.

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FINANCIALS

 

Revenue & Capital Funding Sources

In 2020, The Port and its managed entities raised and earned $18 million. Our percentage of revenue coming from property sales and earned fees increased over the previous years.

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How & Where We Deployed Program Funds

In 2020, The Port and its managed entities made capital investments of $11 million into Hamilton County properties and programs.
While we concentrate efforts in specific focus neighborhoods to catalyze larger impact, we work throughout Hamilton County.

Capital Fundraising

In 2020, The Port leveraged public funds with additional grant and loan funding, raising $3,700,000.

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Our Operating Revenue Sources

The Port has continued to diversify its revenue sources, relying less on public operating funds. In 2020, public funding made up 7% of our total operating revenue as opposed to 8% in 2019, and 17% in 2018.

A PLAN FOR RENEWAL

The Port initiated a strategic planning process in the fall of 2020 to update its vision and develop a framework for guiding the organization into the future. The new strategic framework, A Plan for Renewal, will help guide investment, allocate resources, and provide a structure for regular progress updates to assure that long-term goals are achieved, and strategic issues are addressed.

 

Economic Equity

Equity and inclusion have always been central values and business imperatives at The Port. Our economic equity plans address capacity building and development for minority-owned, women-owned, and small business enterprises.

Public Finance

Bringing innovative public finance tools to stimulate private sector investment in commercial real estate and redevelopment of complex sites

Industrial

Growing Hamilton County by transforming historic industrial properties into productive use to attract manufacturing jobs

Neighborhoods

Driving broad redevelopment of residential and commercial properties to promote thriving neighborhoods throughout Hamilton County

Public Projects

Partnering with community organizations and institutions throughout Hamilton County to revitalize the City and County's most complex and disinvested real estate

Stay Up to Date Throughout the Year

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