Ohioan’s personal income growing at slower pace than neighbors

Published: Tuesday, November 14, 2017 @ 10:53 AM


            CONTRIBUTED
CONTRIBUTED

Ohio’s personal income growth rate over the past year is slower than the national average.

The state’s personal incomes grew by 0.5 percent from the second quarter of 2016 through the second quarter of 2017, according to Pew Charitable Trusts.

That compares to an average 1.2 percent average annual growth rate over the past decade.

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Personal income includes Ohio residents’ paychecks, Social Security benefits, employers’ contributions to retirement plans and health insurance, income from rent and other property, and benefits from public assistance programs such as Medicare and Medicaid.

Federal officials use state personal income to determine how to allocate support to states for certain programs, including funds for Medicaid. State governments use personal income statistics to project tax revenue for budget planning, set spending limits, and estimate the need for public services.

Compared to its neighbors, Indiana personal incomes grew 1.8 percent over the past year, Michigan incomes saw 1.4 percent growth, Pennsylvania had 1.1 percent growth and Kentucky also reported 0.5 percent growth.

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Nationally, growth in personal income has been lower than its historical pace, according to Pew.

U.S. personal income increased by the equivalent of 1.6 percent a year from the fourth quarter of 2007 through the second quarter of 2017, compared with the equivalent of 2.7 percent a year over the past 30 years, after accounting for inflation.

North Dakota has enjoyed the fastest annualized growth since the start of the recession at 4 percent, but the state’s personal income has trended down for nearly three years.

Connecticut’s expansion since the end of 2007 slowed to the equivalent of 0.6 percent a years, the lowest in any state.

Black Friday shopping: Area stores say they have still have deals today

Published: Friday, November 24, 2017 @ 5:21 AM

Long line at Elder-Beerman

UPDATE @ 2:03 P.M. 

Abby Jump, of Enon, dug through a bin of DVDs at Walmart in Beavercreek. She said she waited to shop this morning, and didn’t go out on Thanksgiving. 

“The Greene wasn’t bad,” she said. “There were some really good specials at Alta. The line was really long.” 

UPDATE @ 12:03 p.m.

UPDATE @ 8:30 a.m.

James Maggard, of Franklin, sat on a bench in the Dayton Mall, waiting for his family as they shopped around for gifts. He said they woke up early to go to Toys“R”Us, which he said “wasn’t busy at all.”

“We went to Walmart last night,” he said. “Now, that was awful. I have PTSD and it all came back last night. I told my wife I had to just go out to the car.”

He said a “little old lady” grabbed an electronics item right out of his hand at Walmart. Today has been calm with smaller crowds, he said.  

His daughters plan to go to Barnes and Noble after the Dayton Mall, but Maggard said most of his holiday shopping is already done. “I ordered most of everything online.” 

Kenna Davis and Tera Estep, of Middletown, started their day of shopping at 4 a.m. at the Cabela’s in West Chester Twp.. The lines were so long that they opted out of buying anything at all. 

“It was unreal,” Davis said.

After that, they went to Target, which didn’t have any lines. “We thought it would be jam-packed. 

Sitting in the Dayton Mall with Auntie Anne’s pretzels, the women waited on a bench for Estep’s daughters who shopped in Victoria’s Secret. 

“I’m not a crowd-fighter,” Davis said.

 

UPDATE @ 7:28 a.m. 

UPDATE @ 6:20 a.m.

More than 600 people waited in line for door buster deals at Cabela’s in Centerville. The line was significantly smaller than last year, when more than 1,000 people showed up for the first Black Friday at the retailer’s Centerville location. 

A Cabela’s spokeswoman said one person claimed a free firearm. The store is expected to give away two free firearms today, as well as gift cards and other prizes. 

 

INITIAL REPORT:

Consumers got an early start on their shopping on Thanksgiving, but plenty of retailers will offer special Black Friday deals today.

Black Friday is still expected to be the busiest shopping day of the weekend — with 115 million people expected to do their buying today. An estimated 164 million people are planning to shop this weekend, according to the annual survey released by the National Retail Federation and Prosper Insights & Analytics. The numbers include Thanksgiving Day, Black Friday, Small Business Saturday, Sunday and Cyber Monday.

» RELATED: 17 retail horror stories that show working Black Friday is the worst

Holiday spending in Ohio is expected to grow 2 percent this year compared to 2016, bringing in an estimated $24.1 billion statewide — and people in the Dayton region are expected to spend more than last year. NRF projects that holiday retail sales in November and December this year will be up between 3.6 percent and 4 percent for a total between $678.8 billion and $682 billion. Consumers say they will spend an average $967.13 this year, according to the annual survey conducted.

Click here for more store hours.

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Elder-Beerman announces Cyber Monday deals

Published: Friday, November 24, 2017 @ 2:45 PM


            KARA DRISCOLL/STAFF
KARA DRISCOLL/STAFF

Elder-Beerman’s parent company, The Bon-Ton Stores Inc., announced its two-day Cyber Monday sale starts on Sunday at 6 a.m. and ends midnight on Monday.

The sales are on all Bon-Ton sites including: bonton.com, bergners.com, bostonstore.com, carsons.com, elder-beerman.com, herbergers.com and younkers.com. Online shoppers can access an exclusive promo code for $50 off a $100 or more online purchase, and shipping is free on any purchase of $25 or more.

» Overheard while Thanksgiving shopping: ‘Your dad is going to kill me’

Some of the deals include:

•Up to 70 percent off select outerwear for ladies, men and kids

•$19.97 any size Living Quarters down alternative reversible comforters

•Sharper Image GPS location with camera drone 1080P for $279.97

•Up to 70 percent off a huge selection of dresses

•$39.97 cashmere sweaters for her

•20 percent off select mascaras

•Up to 70 percent off designer clearance handbags

•$19.97 Rampage boots and jackets

•50 percent off FAO Schwarz toys

•Up to 70 percent off clearance fine jewelry

Bon-Ton will continue its Cyber Monday event all week and unveil Cyber Week online deals through Dec. 2.

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Reza’s Roast plans local coffee donation event

Published: Friday, November 24, 2017 @ 1:34 PM


            Reza’s Roast is inviting the public to its “Roast it Forward” event Saturday. CONTRIBUTED
Reza’s Roast is inviting the public to its “Roast it Forward” event Saturday. CONTRIBUTED

A local coffee roaster is looking for your help to donate coffee to area soup kitchens and shelters.

Reza’s Roast, a Fairborn roaster of coffee sourced directly from farmers, is inviting the public to stop by Saturday to its “Roast it Forward” event to buy coffee beans at cost and donate to local organizations.

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For the Saturday event, Reza’s stated it bought inexpensive (but still ethically sourced) green beans to donate to local soup kitchens and shelters.

“Come buy at cost as little or much as you like and we will help you roast and bag it yourself,” the roastery said.

Stop by 8:30 a.m. to 12:30 p.m. at the 611 W. Yellow Springs Fairfield Road business to participate.

The business’ roaster can do a batch in less than 15 minutes. Then visitors can take the coffee to donate where they would like or leave it for Reza’s to drop off.

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Not sure where to donate? Reza’s has a list of local organizations that would be grateful for coffee.

There will be free donuts and coffee, tea and hot chocolate. Kids are invited and there will be some children’s activities as well.

Austin Landing draws first out-of-market office tenant

Published: Friday, November 24, 2017 @ 6:00 AM


            STAFF PHOTO
STAFF PHOTO

Austin Landing has hit a new milestone, attracting the first out-of-state business to the office park south of Dayton.

With more than 300,000 square feet of office space almost full and the shops and restaurants almost all built out for the first phase, there are now about 2,600 people employed at Austin Landing and more than $100 million in property value has been created.

But the success of the 142-acre development has not been without controversy. It’s accused of helping gut downtown Dayton and shifting businesses from around the region to its office center instead of attracting more businesses to the area.

RELATED: Austin Landing South development could spur $350 million in investment

Officials with the township and Austin Landing said the development filled a demand for new office with modern layouts and helped retain jobs that might otherwise have left the area, drawn to similar centers in Greene or Butler counties.

“We understand the discussions and concerns,” Chris Snyder, Miami Twp. community development director, said. “We’re certainly not trying to pull people’s businesses away, but we’re certainly glad to have been able to keep them in Montgomery County in our community.”

Larry Dillin, president of VisCap Development, said Austin Landing has become “a regional connecting point” to population centers in the north and south and the surrounding area was underserved both from an office perspective and retail and restaurants.

“The goal is to make a difference growing the Greater Dayton region. Great cities are made up of a collection of great communities. We believe (Austin Landing) contributes to the rise of the region,” he said.

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When it comes to trying to attract an out-of-region tenant, Dillin said leasing office space is different than retail.

“Office use has different drawing drivers. Quality of life and convenience to amenities like restaurants and services-oriented retail are important characteristics for companies looking to recruit or relocate important staff positions,” he said.

SMITH, a Seattle-based digital commerce company, is aiming to open a 4,500-square-foot office in Progress Park Tower late December or early January, and will be the firm’s first office in Ohio.

CEO Tony Steel said when the company was looking for the right space, the location was a good fit to recruit the kind of tech talent it wants.

“There were many different choices, but quite honestly Austin Landing was probably the most consistent with our brand,” Steel said. “We’re all about building for the future. We’re all about giving the greatest experience. We liked the environment at Austin Landing and the all inclusive-set of services that it provided.”

RELATED: What’s next at Austin Landing?

It wasn’t a given that Austin Landing would have the success it has had attracting a steady line up of professional office tenants. Austin Landing’s original developer RG Properties took a gamble when it first pieced together while the region was still in a recession.

The development aided by limited other local newly built office competing, as well as the township investing $24 million into the project and then another $5.9 million.

The development also had the help of an attractive tax structure for office tenants where only first floor tenants, mostly retail, pay income taxes and upper floor tenants, mostly business offices, do not pay income taxes.

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Dayton has a 2.5 percent income tax, after raising the rate last year from 2.25 percent in what was the city’s first income tax hike in more than 30 years.

From its early days, Austin Landing has continued to bring in businesses that had been in Dayton, particularly from its downtown, taking with them the city income taxes that their employees had paid.

Midmark, a medical equipment company, just announced it is moving its headquarters from Dayton to Austin Landing.

Brady Ware, Clark Schaefer Hackett and Thomson Hine were also among companies who moved from Dayton to the new office center.

The Austin Landing offices let businesses be closer to the Cincinnati to help draw talent in from the south.

Dave Dickerson, Dayton market president at Miller-Valentine Group, which represented SMITH in its lease deal at Austin Landing, said companies that are planning to move are often looking for new office with modern layouts and enough space on each floor for companies to fit more staff on the same floor, which Austin Landing provided.

RELATED: Midmark Corp. moving headquarters from Dayton

“What you’re seeing from a lot of companies is that they like to be strategically between Dayton and Cincinnati and can tap into both labor markets, and in many cases don’t want to have multiple offices in both markets,” Dickerson said.

Dickerson noted that when Dayton got a new office option recently at the Water Street District, while it wasn’t wasn’t closer to Cincinnati, it had new layouts and quickly filled up.

“The office market over the last few years has been very competitive,” said Sandy Gudorf, president of the Downtown Dayton Partnership. “There has been a great deal of new office product on the market not only at Austin Landing but other places in our community.”

But, as Austin Landing has filled with tenants, downtown has also been coming into its own.

MORE:Christmas comes to Austin Landing

The vacancy rate remains high — hovering between 27 percent and 31 percent depending on the report — but its added shops, restaurants and housing and has been carving out a niche with creative firms, startups, and companies looking for unique space that fits into their culture.

While both Austin Landing and downtown are billed as “live, work, play” environments, downtown advocates proposition the city’s center as the authentic option.

“We acknowledged certain years ago that we needed to take certain steps that we need to be competitive, whether with Austin Landing or something else. … I think as a downtown community, we have strengthened our value proposition,” Gudorf said.

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