Building a SMART Community Brings Economic Success
Smart Communities embrace technology as the key to their economic future. The first step in building a smart community is defining the elements of a smart community and what the economic benefits are from achieving that status.
The economic benefits of becoming a smart community are substantial. Successful technology based economic development is a well-established, five drivers of regional economic success—along with advanced manufacturing, global trade, advanced services and energy. Successful regional technology economies are built on Science, Technology, Engineering and Mathematics occupations. STEM occupations consist of nearly 100 specific occupations consisting of 6 percent of U.S. employment counting nearly 8,000,000 jobs. STEM jobs are high-wage positions paying on average $77,880 and only four of the 97 STEM occupations had mean wages below the U.S. average of $43,460. The creation of smart community operating systems for cities also suggests substantial economic gain. According to a study by Accenture, Smart City solutions applied to the management of vehicle traffic and electrical grids could produce $160 billion benefits and savings through reductions in energy usage, traffic congestion and fuel costs.
As part of the Inflation Reduction Act (IRA) passed in 2022, a new federal program was created that provides great opportunity for Ohio – the Greenhouse Gas Reduction Fund (GGRF). It allocates $27 billion in financial assistance through three programs to reduce harmful air pollutants, mobilize financing and private capital, and deliver benefits for low-income and disadvantaged communities.read more
60,000 concert goers attend inaugural 4 day Voices of America Country Music Festival in West Chester, Ohio with Alabama, JoDee Messina, Lainey Wilson, Dan +Shay, and many more!read more
The word is out Central Ohio is a wonderful place to live and work. While job opportunities are prevalent, the housing market is a challenge. The headlines are focused on new builds and further directed at greenspace and farmland depletion, zoning, density, affordability, transportation, congestion, the impact on schools, and concerns about community identity. New builds are vital, but the housing puzzle has an overlooked solution piece with abandoned and underutilized property.read more