Newsletter: Busted brackets, need for housing and a new area pizza joint coming by 2 neighbors

Good morning Dayton business leaders. How is your NCAA basketball bracket?

Mine was great until last night. Now it’s busted thanks to Roll Tide and Clemson.

Our friends at outplacement firm Challenger, Gray & Christmas in Chicago tell us the tournament could cost employers nearly $10 billion in unproductive work.

The firm’s estimate is based on 68 million adults who plan to wager on the games, according to 2023 figures from the American Gaming Association.

Using the employment-population ratio of 60.1% in February 2024, that means approximately 40.9 million working Americans are likely to be caught up in March Madness, according to the firm. Multiply by the estimated time spent filling out brackets and streaming games, and average hourly earnings, which, in February, stood at $34.57 according to the BLS.

If you’re reading this column today, send an email to my boss, Ashley.Bethard@coxinc.com and let her know I have been working the entire tournament.

Enough about me. The good news is Reporter Tom Gnau returns to work next week and will be delivering you the great business news of the Dayton region. You can reach him at Tom.Gnau@coxinc.com with important tips or questions about the business community.

Credit: JIM NOELKER

Credit: JIM NOELKER

Dayton region needs more housing

Dayton Area Chamber of Commerce CEO and president Chris Kershner wrote a column last week pushing for the region to add more new housing.

He said workforce continues to be the number one challenge for employers throughout the Dayton region. The way we address the workforce issues are both broad and complex, he said.

“Access to affordable housing in the right locations for middle-income Dayton area workforce is becoming harder and harder to find. The middle-income worker isn’t able to find the selection of affordable homes that allows them to build financial equity, strengthen ties to a community and reside close to their jobs.”

Read more on what Chris wrote here.

New pizza location coming to Miamisburg

Miamisburg neighbors Christian Clothier and Ife Olaore are opening Red Bird Pizza, an East Coast inspired pizzeria at 18 N. Second St., Reporter Natalie Jones wrote this week.

Clothier, a pizza connoisseur originally from New Jersey, is creating his version of New York style pizza using elements from Neapolitan pizza like fresh ingredients from local farmers and producers. His goal is to provide fresh, high quality pizza made with the best ingredients they can find.

Dayton Foundation reaching new heights

The Dayton Foundation announced this week it has surpassed $1.12 billion in assets, putting it among the top 4% of more than 800 community foundations nationwide for assets under management and the third largest community foundation in Ohio.

Fund holders awarded 23,859 in grants and scholarships totaling $124.1 million in its fiscal year ending June 30, 2023 – more than in any previous year – with an additional $90.4 million awarded in this fiscal year, the foundation reported.