CINCINNATI, Oh. (Oct. 5, 2017) – Greater Cincinnati’s urban cores – and the lives of their residents – will continue to improve and benefit from transformational redevelopment projects thanks to Duke Energy’s Urban Revitalization grants. Earlier today, the company announced 10 projects that will receive $307,352 in catalyst grants to support urban redevelopment and stimulate growth, job creation and further investments in our local communities.
“Our urban cores are the hearts of our communities,” said Jim Henning, president of Duke Energy Ohio/Kentucky. “Today, they present opportunities for positive change and prosperity. These important collaborations will create jobs, spur additional commercial activity, and serve as hubs for these communities and their residents for generations to come.”
Since 2011, Duke Energy has provided $1.88 million in Urban Revitalization funding to 58 projects in Southwest Ohio and Northern Kentucky. Projects include Braxton Brewing Company, Madcap Puppet Theater, Carabello Coffee, Cincinnati State’sMiddletown campus and Gateway Community & Technical College’s Urban Metrocampus.
Today’s grant announcement was held at Hotel Covington, which received an Urban Revitalization grant in 2013. The event featured each grant recipient, as well as Cincinnati Mayor John Cranley, Covington Mayor Joe Meyer, Hotel Covington developer Guy van Rooyen, Jim Henning and Duke Energy Executive Vice President Julie Janson. Janson previously served as president of Duke Energy Ohio/Kentuckyfrom 2008 to 2012.
Here are summaries of the Kentucky projects that were awarded grants today.
The Catalytic Fund
$51,300 for Sixth and Vine project in Dayton
The Catalytic Development Funding Corp. of Northern Kentucky will use an Urban Revitalization grant toward the conversion of a historic building at Sixth Avenue and Vine Street in Dayton, Ky., from residential back to mixed use. Once the renovation is complete, the building will house a coffee shop and event space, and will be used by nearby artists collective The Lodge for added capacity for its existing events. In addition to repurposing the property, the Catalytic Fund hopes the work encourages surrounding property owners to invest in their own properties, too.
The Catalytic Fund
$50,000 for Road ID headquarters in Covington
A former self-storage building at Eighth and Washington streets in Covington will be remade into the headquarters of Road ID – a local, family-owned business that manufactures custom products to help first responders identify people in case of an emergency. Once renovations are complete, the building will house Road ID’s office, manufacturing, assembly and warehousing space. And, in addition to the company’s 42 full-time and 60 part-time and seasonal employees, Road ID expects to hire 30 full-time and 30 part-time employees over the next five years.
The Catalytic Fund
$18,200 for Newport Food Port in Newport
Incubator Kitchen Collective is a nonprofit in Newport that helps Greater Cincinnati food entrepreneurs and startups overcome barriers that can prevent local food businesses from getting off the ground. IKC has helped more than 50 small businesses grow and realize their potential. The Catalytic Fund is working with IKC to expand its kitchen facility so the group can increase occupancy and output, and create direct and indirect jobs.
Duke Energy Ohio/Kentucky’s operations provide electric service to about 850,000 residential, commercial and industrial customers in a 3,000-square-mile service area and natural gas service to approximately 529,000 customers.
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company’s Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee.