With the abundance of economic and business news every day, it can be easy to miss some of the smaller stories. But small business news is important too, and as we begin a new year, I want to highlight the Dayton Recovery Plan’s impact on business opportunity in our city.

The Dayton Recovery Plan – if you’re not already aware – is the City of Dayton’s strategic investment of federal American Rescue Plan Act funds designed to help communities recover from the COVID-19 pandemic. Our approach to local investment of these historically important resources is to seed transformation and leverage other resources to create long-term impact. With community guidance and City Commission approval, Dayton is making strategic investments in local businesses.

First Floor Fund energizes businesses and storefronts

Through the Dayton Recovery Plan, the City of Dayton established the $7 million First Floor Fund to provide essential empowerment for small businesses locating throughout the city.

With 29 approved loans and over 100,000 square feet of activated commercial space, the First Floor Fund marked its second birthday in October of 2024. It’s an achievement worth celebrating.

The fund’s primary and forgivable loans are administered by CityWide Development. Through this financial resource, businesses including salons and barber shops, restaurants, bakeries, wine bars, cigar bars, clothing stores, and others are popping up along key neighborhood corridors and downtown.

You can learn more about the First Floor Fund at daytonohio.gov/firstfloorfund. (Photo: Bourbon Barbers, East Third Street)

Resiliency Fund boosts minority-owned businesses

The Resiliency Fund, managed and administered by the Miami Valley Urban League, is a Dayton Recovery Plan-supported initiative designed to help Black- and Brown-owned businesses continue to recover from the COVID-19 pandemic as they work to contribute to the Dayton economy.

With an initial investment of $1.5 million, Miami Valley Urban League has provided loans to 140 businesses through 2024 (totaling $742,500).

These loans direct needed operating and capacity-building support and build economic vitality in underserved communities. Participating enterprises represent sectors including construction, professional services, consumer services, and retail. (Photo: Souley Oumarou, owner, Dayton-based AmeriFilms)

Direct grants build futures

The historic opportunity of the American Rescue Plan Act has also made it possible for the City of Dayton to provide direct support to local ventures, with two highlighted here.

6888 Kitchen Incubator is a food-industry catalyst providing training, support resources, and commercial kitchen space for under- resourced entrepreneurs developing food businesses. This unique organization operates from the Dayton Arcade and is named in honor of the U.S. Women's Army Corps Six Triple Eight Battalion (a group with a special duty of getting millions of pieces of mail to World War II troops in the field and led by Lt. Col. Charity Adams Earley, who would later contribute much to Dayton's civic life).

On a smaller scale, Speedie Daycare is a long-established childcare center providing this crucial service to Dayton families. With Dayton Recovery Plan help, the woman- owned business has been able to renovate facilities and serve a new generation of local families.

Dayton approach inspires a case study

The Dayton Recovery Plan’s approach to supporting equity in business development is the subject of a case study by the prestigious New School and its Institute on Race and Political Economy. You can see the study at daytonohio.gov/drpcasestudy.

For more details and ongoing updates on the Dayton Recovery Plan, go to daytonohio.gov/drp.