CITYWIDE DEVELOPMENT CORPORATION FOR IMMEDIATE RELEASE

Contact: Gwen Eberly,
Acting Director
City of Dayton Office of Economic Development
(937) 333-3805 OR
Steve Budd,
President CityWide Development
(937) 853-2547

CITY ENTERS INTO CONTRACT WITH CITYWIDE TO MANAGE DEVELOPMENT OF TECH TOWN

Dayton, Ohio, July 19, 2006 - The City of Dayton has entered into a contract with CityWide Development Corporation to manage the development of Tech Town. The contract is effective immediately.

The concept of the Tech Town District evolved from CitiPlan Dayton: The 20/20 Vision, the city’s long-term strategic plan which was formally adopted by the Dayton City Commission in 1999. A revised version of CitiPlan was approved by the Commission in 2003. Tech Town is a technology-oriented live/work/play district planned for the eastern edge of downtown Dayton. Consisting of about 40 acres (6 blocks) of unique housing, a high density of technology employers, and lots of diverse leisure options, Tech Town is designed to appeal to younger, flexible IT professionals — recently dubbed the "creative class."

“Tech Town will be a strong urban core that will help us attract and keep the best people for Dayton’s high-tech jobs,” said Rashad Young, Dayton’s Interim City Manager. “It will have a very positive effect on the local economy. It’s also being developed at the perfect time to provide commercial space for the BRAC-related expansion happening at Wright Patterson Air Force. That’s why it’s so important that we do it right and that’s what this new agreement with CityWide is all about.”

In related news, CityWide Development Corporation is pleased to announce that Norm Essman has joined its team of economic development professionals. In April, Essman retired from the City of Dayton, where he had most recently served as Economic Development Director for four years. In his new position with CityWide, Essman will oversee development of new office space at Tech Town and work to attract businesses to the Tech Town campus, among many other responsibilities.

“There is nobody better suited for this job than Norm,” said Steve Budd, president of CityWide Development Corporation. “His experience, knowledge and enthusiasm for the project ensure that the City’s vision of the technology-oriented district will be successfully implemented.”