1. Bringing innovative businesses to Hamilton
The formerly Cincinnati-based 80 Acres Farms, which optimizes the growing of crops by doing it indoors with optimal conditions and no reliance on weather or growing seasons, and a related company, Infinite Acres, in Hamilton puts two very innovative businesses — Infinite Acres is a joint venture with well-regarded firms in England and Holland — in Hamilton.
2. Important for city finances
They’re located in Hamilton’s city-government tower at 345 High St. and in coming years will ramp up to $450,000 in annual rent, which can help city government pay off up to $9 million city debt on assistance to the under-construction $144 million Spooky Nook at Champion Mill gigantic indoor sports complex and convention center perhaps by 2036-to-2039, rather than 2049.
3. Boon for area utilities
Hamilton-owned utilities, which took big hits in recent decades when large industries shut down, are gaining a significant electric customer with 80 Acres. When the second 80 Acres opens its second operation in Hamilton, the company will be the city’s largest electric customer, which can help make residential electric rates more affordable. The company also will pay Hamilton’s kilowatt-hour tax.
4. More people living, working downtown
Between the two agriculture firms and ODW Logistics, which has been a growing tenant of the city tower, 110 business people will be working in the city tower, increasing the number of people working downtown and using restaurants and other businesses there.
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5. Taking up open space
There’s plenty of room in the city-owned tower for city employees to remain, although some of them will be relocating to other parts of the building.
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