Thursday, July 18 2013
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Take Note Silicon Valley, the Queen City is a Technology Hotbed
While it comes as no surprise to the start-up community in town, Entrepreneur Magazine has just coined Cincinnati an "Unexpected Hub for Tech Startups." Notable examples include investment and acceleration firms like CincyTech and the Brandery as well as successful up-starts such as Roadtrippers and ChoreMonster.
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City's Credit Rating Downgraded
Cincinnati's aging city pension fund continues to be a nuisance for City Planner Milton Dahoney Jr. Moody's recently downgraded the city's general bonds from AA1 to AA2, which translates to the bond’s ratings being labeled "negative." Moody's said the blame for the downgrade primarily rested on the city's lack of a sustainable future for its pension fund. The downgrade in ratings means the city might have more trouble issuing debt in the future.
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Negative Parking Memo Draws City's Ire
A memo dated June 20 and released July 15 says Cincinnati received a bad deal on the parking lease agreement with the Greater Cincinnati Port Authority. The research reported in the memo found that it will be 257 percent more expensive for a private contractor to run the city's parking services compare to what the city currently spends. City Manager Milton Dahoney Jr. said the data used to generate the memo was out of date and no longer applies to the current parking lease deal.
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Streetcar's Optimism Improves OTR Real Estate
The streetcar project is already generating improved real estate sales in Over-the-Rhine. Teach for America announced their plan to move into the Jupiter Building at 1110 Main St. as part of a renewed interest in The Hanke Exchange, a collection of five buildings in OTR between Reading Road and Michael Bany Way. The properties occupancy rate is hovering close to 90 percent, a dramatic increase from 28 percent just three years ago.
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Explore Jungle Jims in Eastgate on Streetview
Google and Cincinnati based international foodie haven Jungle Jims have joined forces to offer an interactive view of the recently opened Eastgate location. Future plans of the partnership include a bird's-eye view of the store, giving uninitiated consumers a handy roadmap from hot-sauces to checkout. No word on whether network access will be extended to the beer cave.
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