Reliable sources tell me it’s Friday, time for another business newsletter, and I never argue with reliable sources. Almost never.
Land and purchases by foreign buyers who turned out to be connected to China has been a simmering topic for a while.
You can see this on the federal level, and in a growing roster of states and even local communities.
Last year, the U.S. Treasury Department proposed beefing up Committee on Foreign Investment in the United States (CFIUS) rules on its jurisdiction over foreign real estate purchases.
Even globally, this issue has taken on new resonance. Ukraine’s recent drone strike against Russian strategic bombers has some —such as U.S. Rep. John Moolenarr, R-Mich., of the House Select Committee on the Chinese Communist Party — warning that Chinese purchases of farmland near U.S. military sites are not merely commercial deals. “That’s dangerously naive,” he recently wrote.
In this newsletter
Why a $45 million judgement may be ruinous against Miami Twp.
Chaminade-Julienne High School’s new downtown plans.
Kettering Health is restoring operations.
How an Ohio Senate bill would bar some foreign land purchases in Ohio
What’s happening: An Ohio Senate committee is considering a bill that would restrict foreign ownership of land across much of Ohio, including areas close to military installations.
The bill restricts ownership of land by people or businesses from nations considered adversarial to the United States.
What they’re saying: “I introduced this bill because I strongly believe that Ohio’s land should not be for sale to those who seek to destroy the American way of life,” Ohio Sen. Terry Johnson, R-McDermott, told the Ohio Capital Journal.
What has happened: MyChart is once again your chart.
Kettering Health says normal operations have resumed for key services weeks after a cyber attack.
Those services include inpatient and outpatient services like surgery, imaging, retail pharmacy and physician visits. In addition, it says phone lines and call centers are functioning across the organization.
What the company says: The network also said it is working to identify impacted data, promising to notify those affected, possibly with fraud protection services.
“We are confident that our cybersecurity infrastructure and employee security training will effectively mitigate future risks,” the release said.
Miami Twp. could become the first township in Ohio history to declare bankruptcy
The situation: Miami Twp. officials say they cannot pay a $45 million court judgment against the township even if township leaders cut every service they can. There is no insurance to cover it, either.
Why it matters for township residents: Being required to pay a $45 million judgment without sufficient insurance coverage could put a township in a serious financial crunch, said Anne Beauch, spokeswoman for the Ohio Township Association.
“Townships operate with strict financial constraints, and the majority of revenue comes from property taxes, often tied to specific levies,” she said.
Downtown plans: Chaminade-Julienne High School bought the former cold-storage building at 20 Eaker St. downtown, a stone’s throw from the school, in 2023.
There was some question as to what the Catholic high school would do with the property. Now, the school has a next step in mind.
What the school is saying: CJ officials said they explored repurposing the century-old building, but they deemed the structure unsuitable for restoration. So the school said it secured funding and permits for an as-yet unscheduled demolition.
The land will be used as green space for now, the school said.
Joby Aviation’s local building is starting to look like a Joby Aviation building
On the outside, progress is becoming clear at the building Joby Aviation says it has purchased for the scaled manufacturing of electric flying taxis near Dayton International Airport.
What’s going inside remains a question, one we keep asking.
What happened: This week, a new paint job on the company’s planned manufacturing site off Concorde Drive, a former U.S. Postal Service facility, could be seen.
Next steps? Production of components for Joby Aviation electric vertical takeoff and landing vehicles (eVTOL) will begin in Dayton this year, Greg Bowles, Joby’s head of government relations and regulatory affairs, told me last August.
Community Gems: You know who they are, and we want to know them, too. We want to know about the people doing good in your life and your community. Tells us about them at this link.
Contact me: Thanks for being here, as always. Tell me about your business at tom.gnau@coxinc.com or at X and Bluesky. I’m also on LinkedIn and on our Dayton Business page, with my colleagues. Find me as well on my Facebook page here.
As hospitals received an influx of public funds during the COVID-19 pandemic to keep up with significant hospitalizations, some were already struggling on razor thin or negative operating margins. Many hospitals bounced back quickly after the pandemic, while others are back to the financial challenges they had prior to the pandemic.
Pins Mechanical Co., located at 416 E. First St. in Dayton, is a social playground offering duckpin bowling, classic pinball machines, patio pong and more.
The owners of Meadowlark Restaurant and Wheat Penny Oven & Bar are opening a new breakfast and lunch restaurant this fall in the Dietz Block building on Wayne Avenue.
As the ongoing youth mental health crisis―frequently dubbed the “crisis of this generation” by Dayton Children’s―grows, Dayton Children’s is meeting children’s need for access to professional help with the opening of its $110 million Mathile Center for Mental Health and Wellness, which will start seeing patients July 15.
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