Jul 31, 2020
The village of Evendale has named Neyer Properties the master developer for AeroHub, a planned 200-acre advanced manufacturing innovation district.
AeroHub is located about 20 minutes north of downtown Cincinnati along Interstate 75 and adjacent to GE Aviation’s headquarters. The vision for AeroHub is for it to attract skilled designers, engineers, researchers, educators and businesses that are focused on collaboration opportunities in the advanced manufacturing industry.
Chris Dobrozsi, vice president of real estate development for Neyer Properties, said the Evanston-based developer’s role as master planner is to determine and continually update the vision for AeroHub, market it, and then implement the strategy to achieve that vision.
“We’re good at visioning, we’re creative thinkers, looking forward to what’s out there,” Dobrozsi told me. “This could be a catalyst to a lot more.”
At this point, the vision for AeroHub is that it could grow to potentially 230 acres of land, be home to about 1 million square feet of space, result in $150 million in capital investment, and create about 3,500 jobs brining in an estimated $245 million in annual payroll and $2.9 million in annual income tax.
“If we can create an advanced manufacturing hub and create the talent there at AeroHub, that can expand up and down the I-75 corridor,” Dobrozsi said.
AeroHub is being developed through a public-private partnership between Neyer Properties, Evendale and other public and non-profit entities. JobsOhio has provided funding for AeroHub, showing the state’s commitment to invest in leveraging and growing Ohio’s manufacturing.
“AeroHub is an opportunity of a lifetime to build something unique and special while I-75 and the access points to Glendale Milford Road are under construction,” Evendale Mayor Richard Finan said in a release.
Dobrozsi said the goal is not to just pick advanced manufacturers already in the region to bring to AeroHub. They are looking to capture the advanced manufacturers REDI Cincinnati and JobsOhio are bringing to the table.
“The aerospace industry is a key driver in making the Cincinnati region one of the nation’s most globally connected economies,” said Kimm Lauterbach, president & CEO of REDI Cincinnati. “The work being done by Evandale and Neyer Properties to bring the AeroHub to life complements our strategic plan and plays a pivotal role in increasing our region’s new business opportunities for growth.”
As the nation is expected to see continued movement toward re-shoring manufacturing back to the U.S. in the wake of the Covid-19 pandemic, AeroHub is positioned to be a regional option.
Phase I of AeroHub consists of 53 acres. This phase has its first tenant in the Modal Shop, a growing firm that provides structural vibration and acoustic sensing systems and services. The Modal Shop recently completed construction of a 40,000-square-foot headquarters facility on 5 acres on the south side of Glendale Milford Road. The company purchased more than 5.1 acres of land to combine its operations from two leased spaces.
TechSolve, a Cincinnati-based manufacturing consultancy aimed at bolstering the industry in this region, is exploring partnership and development opportunities at AeroHub. David Linger, president and CEO of TechSolve, said this development will bridge the advanced manufacturing skills gap created by evolving technology.
“This will result in the creation of a revolutionary talent pool, putting our region in the best position to grow emerging industries,” Linger said in a news release.
Dobrozsi said creating a talent pool for advanced manufacturers will help make AeroHub successful. The idea is to create programs with partners, such as Cincinnati State Technical and Community College and others, that fit the exact needs of advanced manufacturers and adapt them as their needs change.
“Without the talent, we’re not going to get them,” he said.
Neyer Properties has named Chuck Ackerman, Bill Keefer and Jeff Kroeger at Colliers International as the listing brokers for AeroHub. Ackerman, brokerage senior vice president with Colliers, said AeroHub “should attract some great companies to the region.”
Ackerman and Keefer represented Modal Shop in its purchase of land in AeroHub. Multiple manufacturing companies have shown interest in AeroHub, according to Neyer Properties.
Neyer Properties is a commercial real estate developer specializing in sustainable land development, construction management, investment and redevelopment. The Evanston-based company owns more than 5 million square feet of office, industrial and retail space and has more than 200 acres ready for development in the Tristate area.