UTC wrote: ↑Mon Jun 10, 2019 2:34 pm
JCB1977 wrote: ↑Sat Jun 08, 2019 8:42 am
Cleveland, Pittsburgh, Buffalo, St. Louis, Detroit...all 5 of these rust belt cities have been or are going through redevelopment. Pittsburgh has become a Bio Tech hub, the entire riverfront has been redeveloped. Same in Cleveland around Lake Erie and the Cuyahoga and Ohio River. The Buffalo waterfront has been redeveloped. Will manufacturing come back the way it once was, HELL NO. Those days are gone forever. Tech companies are coming in, engineering and bio medical companies have been planting their flags in some of these rust belt cities cause they are tired of paying prices in NY, Chicago, San Fran and L.A. Even downtown Youngstown has been redeveloped. One of my best friends bought 3 buildings in Downtown Youngstown and asked me 20 years ago to go in with him. I laughed in his face. He paid $30k for all three buildings. Each building now is worth over $300k a piece. He has two of them rented out to businesses and kept a building where he has his law office and a bar downstairs. The city of Youngstown gave him $100k per building to renovate and a 20 year tax abatement. When he bought them, nobody would walk down the street....now it's a mecca for entertainment, bars, restaurants, retail stores plus Denise DeBartolo York has her performing arts center on the same street. Lots of $$$ to be made in the rust belt.
One word--fracking
Fracking has certainly been the biggest economic boost. These cities and their suburbs are loaded with natural gas, especially Northeast Ohio and Western PA. Ohio is still operating with a state economic surplus plus a “road, bridges and infrastructure” savings in the billions. On the flip side, what will the long term repercussions be to the areas be because of drilling into the Earth? It’s great to see these cities beginning almost new again. They may never be what they once were because of manufacturing, but they are getting better and more diversified from a business standpoint.
As venture capital continues to boom on a national level, investors are looking to the Midwest for the next round of billion-dollar companies. In comparison to traditional entrepreneurial hubs like NYC, Boston, Seattle, Dallas, Los Angeles and Silicon Valley, the Columbus Region, and Ohio as a whole, offers comparatively low operating costs for businesses. Columbus’ attractive tax climate was ranked as one of the top three most business-friendly environments in the U.S. by KPMG an Ernst & Young.
It’s happening all over the rust belt. Love seeing these cities who got hit hard in the 70’s/80’s tear down shit and redevelop. They’re a long way from where they once were but are doing awesome things to bounce back.
"I figure I’m gonna have to do about 6000 years before I get accepted into heaven. And 6000 years is nothing in eternity terms. I can do that standing on my head. It’s like a couple of days here."
-Pauly Walnuts, RIP
