Economic Development Week, May 12 through May 16, offers an opportunity to recognize the power of partnerships among the City, businesses, community organizations, and residents that enable us to create and nurture a vibrant, connected community. In the 27 years since the City first launched the New Albany International Business Park, it has grown to 9,000-plus acres with 36 million square feet of commercial space, 26,000 employees, and $47 billion in private investment. We are equally proud of the growth in retailers, restaurants and small businesses that now call New Albany home. They are essential to achieving a one-of-a-kind community of choice. When businesses of all sizes invest in New Albany it’s a win-win for residents, employers, and employees.
Our increasing tax base allows us to make tremendous strides in turning our vision of a stronger, healthier, greener, and better community into a reality. Nearly 80% of the city’s general revenue fund comes from income tax, with the majority derived from employees in the New Albany International Business Park. These funds support city services, including parks and recreation, leisure trails, police protection, infrastructure, snow plowing, and leaf collection.
Last year, the City experienced over $1.18 billion in investment from existing companies through construction of new facilities and the expansion of existing ones in New Albany. New businesses announced investments of $1 billion within the business park’s Semiconductor Manufacturing, Information Technology and Mission Critical, and High-Tech Manufacturing & Logistics clusters.
Amgen, a global biotechnology leader, has announced the largest life sciences and pharmaceutical manufacturing expansion in Ohio history with plans to grow its operations in The New Albany International Business Park. The company plans to invest $900 million while creating 350 new jobs and retaining 400 existing positions. This month, Pharmavite, a pioneer in the health and wellness industry, will open its new 225,000-square-foot facility in the business park. It has invested more than $200 million in the new facility and will ultimately create 225 new jobs in the City’s fast-growing health and life sciences cluster.
We have been humbled by the remarkable support and participation of the businesses who believe in our community pillars and help to advance them. They are generous in their philanthropy and enthusiastically support the New Albany Community Foundation as well as many other nonprofits who call New Albany and the Columbus region home. Park employees volunteer throughout the community, from the A&F Challenge and the New Albany Walking Classic to LifeTown Columbus, Healthy New Albany, and the Food Pantry, contributing thousands of hours of service.
Executives and employees provide exceptional thought leadership lending their talent and expertise to boards, commissions, nonprofits, and service organizations, including the New Albany Chamber of Commerce. Businesses and residents engage in our strategic planning process that guides us in becoming even more inclusive and collaborative.
From new community gathering spots like Taylor Farm Park and the planned Rose Run expansion with a Veterans Memorial to building the infrastructure to accommodate growth, we remain focused on creating an unparalleled quality of life while attracting new business to support ever-expanding amenities and services.
As part of Economic Development Week, May 11 – 17, the City invites you to join us for breakfast, networking, and to celebrate the many businesses like yours that invest in our vibrant, connected community.