Ravenna –Neighborhood Development Services (NDS) has contributed $68.5 million to the local economy over a five-year period, a recent study indicated. The independent study was conducted by Greater Ohio Policy Center and released today by the NeighborWorks Collaborative of Ohio (NCO) and NDS. The study determined that from 2014 – 2018, NDS generated $26.7 million of income to local employees, $6.1 million in tax revenue and created or sustained 535 jobs annually. As a member of the NCO, NDS and nine other organizations around the state helped to contribute over $665 million to Ohio’s economy.
“In Portage County, home is the foundation of our lives and our communities. Through the support of private institutions, our local business community and our government institutions, NDS has been able to positively impact our local economy, while providing stable, quality, affordable housing and essential economic development programs”, said Stacy Brown, executive director of NDS. “This study reinforces that our work developing high-quality affordable housing opportunities and helping grow economic opportunities is good for the business community and strengthens our economy.”
The study analyzed several different kinds of economic impacts including direct and indirect effects that NDS activities had on the various business sectors. Tax revenue, sustained employment and contribution to local labor income were also considered. Economic activities factored into the study included physical construction of affordable housing, community development, and job creation and tax base development projects.
Since 1985, NDS has been working to address the economic and community development needs of Ravenna. NDS’ programs include housing rehabilitation, downtown revitalization, economic development, financing and job creation.
NDS is a charter member of the NeighborWorks Collaborative of Ohio (NCO) a statewide, nonprofit collaborative of ten Ohio organizations focused on creating sustainable and affordable housing for Ohioans. NCO member organizations provide services and programs such as homebuyer education, foreclosure prevention, financial literacy and affordable rental housing and homes for sale. Over 150,000 individuals and families have benefited from services provided by Ohio’s NeighborWorks organizations since 2006. For more information, please visit www.ohionwc.org.
