A group of investors, called, The Erie Downtown Developmental Corporation, is ready to invest in downtown Erie, block by block.
The Erie group is taking inspiration from Cincinnati, Ohio. There, the Cincinnati Center City Development corporation worked for more than a decade to develop high areas of crime and urban blight. Using the New Markets Tax Credit Program and other tools, the group leveraged its investment to spend more than $1 billion in targeted areas.
Gibbons says, “it’s more than just bringing in businesses. It’s also providing the infrastructure to support [those businesses]: affordable housing, housing that is contemporary, restaurants, the activities that not only attract business but also tourists”.