Over a century of economic development has earned Norwood its well-deserved reputation as a home for business and industry. Office, industrial, service, distribution and retail businesses have thrived in Norwood since its founding in 1888. Among the factors that have contributed to Norwood's development have been its strategic central location, close proximity to markets and suppliers, outstanding transportation accessibility, productive labor force and low business costs.

In 1997, the City of Norwood's "Central Parke" project was selected to receive the National Economic Development Partnership Award.  from the National Council for Urban Economic Development.

Within  the past decade, Norwood has emerged as the "hottest new office address" in the Greater Cincinnati market. Please visit our Norwood Office Developments page for more information on Norwood's redevelopment success and find your opportunity to join in Norwood's office development boom.
 
 


The Environment For Business And Growth

Proximity
Norwood's proximity to local as well as national markets, suppliers and resources provides Norwood businesses with an important competitive advantage. This advantage means "bottom-line" savings in terms of lower transportation costs and a larger effective market area. With two-thirds of the Greater Cincinnati market within 10 miles and freeway accessible, Norwood's office, retail and service businesses are within 15 minutes reach of nearly one million potential clients, customers and employees. Norwood's manufacturing industries enjoy close proximity to one of the nation's newly emerging high-tech research centers with the Institute for Advanced Manufacturing Sciences located within one mile of Norwood. Cincinnati's expanding Convention Center is just ten minutes away.

In its regional setting, Norwood is centrally situated in the southwestern Ohio quadrant - the twelfth largest population center and the eighth largest industrial market in the United States. Within 600 miles of this region is 65 percent of the nation's manufacturing establishments.

Diverse Business Base

Norwood is blessed with a strong and diverse mix of more than 600 office, industrial, commercial, retail and service businesses. Norwood's largest employers include Cincinnati Bell,  The United States Playing Card Company, Siemens Energy & Automation, United Dairy Farmers, Medpace and EM Industries.

Economic Development

Since 1990, Norwood's economic base has grown significantly through major redevelopment projects including Central Parke (office/business complex), Rookwood Pavilion & Commons (upscale retail and office tower) the Hamilton County Business Center (business incubator), Cornerstone at Norwood, the American Laundry site redevelopment and Linden Pointe . New development, expansion and reinvestment have resulted in 4,000 new jobs, $200 million in new private investment and one million square feet of new office, commercial and retail space in Norwood.

Labor Force

The work force available to Norwood businesses has proven to be industrious, reliable and highly productive. Local firms draw on a labor pool of more than 700,000 skilled, semi-skilled and unskilled workers from within and around the Norwood area. This human resource base is progressively expanding as the population of the metropolitan area continues to grow.

Low Business Costs

Businesses operating in Norwood enjoy a variety of cost-saving advantages over their surrounding suburban neighbors. In addition to low transportation costs, Norwood businesses benefit from low property taxes, utility rates and insurance costs. Enterprise Zone tax incentives available from the City of Norwood and Job Creation Tax Credits available through the State of Ohio can provide additional significant cost savings to qualifying businesses.

Norwood companies receive reliable and economical utility service from the Cincinnati Gas & Electric Company. The Cincinnati Bell System provides efficient telephone service and advanced communications technology to the Norwood business community. Norwood's own water distribution system and proximity to the Ohio River water source affords the lowest water rates available to any Hamilton County suburban community.

Low fire insurance rates provide an added bonus to Norwood industries. Norwood's ISO fire protection rating of Class 3 is the highest among Hamilton County communities and one of the best in the state. This excellent rating yields substantial savings in residential, commercial and industrial fire insurance rates.

Transportation And Accessibility

Norwood lies strategically between two major interstate highways with I-71 crossing Norwood's eastern border and I-75 passing one mile to the west. These two heavily traveled expressways are connected by State Route 562, the "Norwood Lateral" interstate connector.

Approximately 65,000 vehicles per day cross Norwood's border on I-71 while the "Norwood Lateral" carries 48,000 vehicles per day through the City's central core.

Norwood industries have access to a variety of cost-effective transportation alternatives. A total of 150 motor freight carriers serve the Norwood area and air freight service is readily available at nearby Lunken Airport and the Greater Cincinnati International Airport.
 
 

How Business In Norwood Can Improve The Odds


Hamilton County Development Company has estabilshed a bold and tangible program for entrepeneurship through its Hamilton County Buisiness Center, a business incubator.
 
 



What is the Hamilton County Business Center?

The Hamilton County Business Center comprises a 65,000 sq. ft. facility located at 1776 Mentor Avenue, Norwood, Ohio. It can provide entrepreneurial busineses with economical space, office support services, an environment conducive to business development, and technical business assistance. HCBC assists fledgling businesses and entrepreneurs helping them to survive and grow during the start-up period when they are most vulnerable.

Shared Services

The incubator offers a central conference room, small computer room, common receiving and vending area, and mail room. Staff is available to provide typing, word processing and general secretarial services. A fax machine and copier are also available for tenant use. All of the above services are based on a pay-as-you-go basis. HCBC reduces costs for tenants by providing shared office services and equipment. 

Supportive Environment

Part of business success may be due to belief in one's self. HCBC puts entrepreneurs together so they can share the desire to be independent, enjoy success together, face, wrestle with and solve similar business problems together. HCBC tenants have also developed synergistic relationships by becoming both customers and suppliers to one another.

Business Assistance

HCBC offers technical/business assistance services as well as traditional management consulting service for growing companies. The purpose of assistance within HCBC is to train tenants in the necessary skills for business survival. Advice on issues such as law, accounting and funding are provided by externally contracted or in-house staff. HCBC will work with each tenant to arrange up to twenty hours of no cost business management advisory services in areas the business needs assistance. The HCBC manager coordinates with a variety of organizations including the Greater Cincinnati Chamber of Commerce, University of Cincinnati, Xavier University and the Small Business Development Center, to provide guidence in areas of Marketing, Finance, Accounting, and other management skills.
 
The combined dollar values associated with these cost savings can significantly impact "bottom-line" profitability. Many businesses have found that the advantages of a Norwood location can make all the difference "bottom-line."