Intel project to spur commercial real estate growth | Local News

Growth in tax revenue, businesses, jobs expected with Intel

Both Schottenstein and Ruben said the deal will spark an explosion in commercial building in Central Ohio, beyond just New Albany to likely include cities like Johnstown and Alexandria. That growth will be driven by companies that rely on microchips that want to be near Intel, such as the auto industry and computer, television and phone manufacturers, they said.

Schottenstein likens this to the growth and development that took place when Honda built an auto plant in Marysville.

Ruben said those companies will draw in other commercial entities that support these industries, including shipping and transportation companies. He said this commercial development will bring more investors to the region, leading to growth.

This influx of investment and commercial building will have various long-term benefits, Ruben said. These benefits will include upgrades in infrastructure, including electrical grids, roadways and transportation systems; better bandwidth for the internet; and upgrades in local health care systems to better handle the growing population. And that cycle of improvement will then lead to new industrial, warehouse and mixed-use developments, including retail, he added.

Schottenstein said for this to become a reality, careful planning and coordination must continue among local governments and industry to address issues such as the need for zoning changes and the like.

“I think they’ve done a nice job with bringing Intel to this location,” he said. “I know there was a lot of people involved and I got to give them a lot of credit. But now the planning really has to begin.”