3 Advantages to Starting Your Business in Dayton
October 7, 2016
Before Silicon Valley was even thought of, there was Dayton, Ohio. This city was the technology capital of the nation where innovation and new technologies were springing up almost every week. According to an article written by BBC, in the early 20th century, Dayton had the most patents per capita of any American city and was home to some of the most world renowned scientist and technologist. Just some of these technologies and inventions include the airplane, cash register, and even scratch and sniff stickers. It is hard to go anywhere without finding a connection to the Dayton region. It is uncommon knowledge that almost 1/6th of corporate executives have spent a portion of their career in the Gem City. In an interview with the BBC, Alex Heckman, compares Dayton of that time to how people now flock to the Silicon Valley to start their business and make it in this tech economy. After the downfall of the GM plant in the heart of Dayton many have decided to leave and find work somewhere else. The closing of the plant put hundreds of thousands out of work and into unemployment and eventually, poverty.
There is hope. A frontier of new technology and entrepreneurship is on the horizon. An evolution of Dayton is taking place and we are continuing to see a change in the startup spirit. Many new startups are coming to this area to pursue their dream of being known for what they do and what products they provide. Many are saying “Why not Dayton?” instead of “Why Dayton?” So why bring your business here?
#1: Dayton is strategically located at the Crossroads of America.
Next to intersection of I-70 and I-75 and the conveniently located Dayton International airport, you have short travel times to various outside cities to grow your business. Air travel, water, rail and highways all open the Dayton region and make it the gateway to national and international markets. According to the Dayton Development Coalition (DDC), Dayton has established infrastructure that puts its businesses within 600 miles of 53% of the U.S. populations. With these short commute times, many vendors, suppliers, and customers all are within a convenient reach of your business.
#2: Dayton is growing
With the low real estate costs and short commute times, you will be able to find your own personal healthy work/life balance here. The Dayton region has seen a 4.5% population growth within the last 10 years. Ohio has been rated one of the top 5 business climates in our nation and had a 1.4 billion dollar budget surplus. 3 of the Dayton region Universities ranked in the top 10 in Ohio by Forbes magazine in 2015. This will give you access to a large amount of skilled citizens coming out with in-demand skills and education.
#3: High Profit Industries Flourish in Dayton
Many high profit industries have found a home in the Dayton region. These include industries such as: defense, with the location of Wright Patt AFB, Dayton is near the core of the defense industry. Aerospace, with all the established infrastructure to support aerospace operations Dayton is recognized as the hub for aerospace innovation. Biosciences, because Dayton is the Epicenter for healthcare to human sciences and is home to a cluster of biosciences businesses. Information technology, because Dayton has the network and resources needed to innovate in information technology and advanced data management. Finally, advanced materials and advanced manufacturing, because the built upon the solid foundation of its past Dayton has a globally competitive hub for manufacturing with continuous growth on the horizon.
Written By: Austin Rains
Marketing Associate at Dayton Tech Guide