CNGC Executive Summary

Columbus Next Generation Corporation was formed with the purpose of identifying underutilized property in core neighborhoods that have the potential to thrive and become appealing to commercial developers with the ultimate goal of creating a productive tax-revenue generating development.

Expectations for commercial development in Columbus look promising in several sectors (office, multi-family, retail, industrial, hotel), as well as in two emerging areas – healthcare and data centers. This growth is being driven by several factors including;

      • Columbus has the lowest unemployment rate of Ohio’s major metro areas
      • Columbus is expected to make the transition from economic recovery to expansion in 2013
      • Columbus maintains one of the most competitive corporate tax climates in the Midwest

However, there is a significant supply of underutilized land and properties in communities in need of economic stimulation.

Columbus Next Generation Corporation (CNGC) was formed by the City of Columbus to address that gap. The Organization’s primary objective will be to identify and synthesize real estate development prospects and transform them into opportunities that will provide an attractive return for developers. The ultimate goal is to develop desirable neighborhoods that generate incremental taxes, e.g. property, sales, payroll, etc.