Building Assets: Ohio’s CDFI Industry is an independent analysis of Ohio’s Community Development Financial Institutions (CDFIs). Community Development Financial Institutions (CDFIs) are business-minded entities that lend money to people and in places where it is not readily available from conventional banks. CDFIs are essential partners in stabilizing and redeveloping Ohio’s weak-market neighborhoods and cities.
In the past five years, the Columbus Land Redevelopment Office and Central Ohio Community improvement Corporation (COCIC) have generated $180 million in economic impact in Columbus and Franklin County communities. The land banks work together to help create stronger, safer neighborhoods by obtaining and managing blighted properties and creating redevelopment opportunities.
From Gary, Indiana to Lowell, Massachusetts, smaller post-industrial cities are taking strategic steps to regenerate – with the chance to follow their larger rebounding counterparts like Pittsburgh and Cleveland – by building on downtowns, capitalizing on a unique sense of place, and focusing on workforce development.