RIVERSIDE — The Springfield Innovation District in Riverside, located across from the National Museum of the U.S. Air Force, has been designated as a federal Opportunity Zone 2.0 to encourage private development in the area.
[DOWNLOAD: Free WHIO-TV News app for alerts as news breaks]
Created by Congress to build on a pilot program, the Opportunity Zone initiative provides tax benefits to individuals who invest in designated areas.
Under the federal program, tax incentives remain in place for a decade and can be renewed.
Despite the new designation, some neighborhood residents remain skeptical about future construction.
Kathy Stankowski grew up in the Riverside neighborhood across from the Air Force Museum.
“They can keep trying, but I don’t think anything will happen,” Stankowski said.
She recalled earlier developments in the area during the early 1960s that were eventually torn down.
“There used to be developments over there back in early 60s. They’ve torn it all down,” she said.
TRENDING STORIES:
- Corrections officer charged, placed on leave amid excessive use of force investigation
- Death of man who had medical emergency after being tased, ingesting drugs ruled an accident
- Mother of 16 children found in ‘deplorable conditions’ in Ohio home found competent to stand trial
Stankowski noted that certain businesses could be useful due to traffic from the nearby military base, but she voiced concern over potential development altering the area’s landscape.
“I would think a gas station or restaurant with the base right there that’s always busy would be helpful, but there’s never been an interest,” Stankowski said.
“We’ve got open to look at the base. And I don’t think people want things in front of it, because it’s going to block everything.”
Other regional leaders view the Opportunity Zone program as a valuable economic tool.
The city of Trotwood has two designated zones, including an industrial park and the area surrounding the former Salem Mall.
Chad Downing, executive director of the Trotwood Community Improvement Corporation, said the designation opens up new funding avenues for communities.
“This really positions us for new capital investment, new ways that we can attract investment from other partners, bring that to support businesses, new development that we hadn’t had the ability to do before,” Downing said.
Downing emphasized that having multiple designated areas across the region creates broader economic advantages.
“The more of these that is a community you have in your toolbox as we talked about in economic development It helps us bring opportunities, and we can meet more people who may be interested in that opportunity,” Downing said.
[SIGN UP: WHIO-TV Daily Headlines Newsletter]
@2026 Cox Media Group
