UD innovation HUB at Dayton Arcade seeks federal funding

Aerial view of the Dayton Arcade rotunda. Six months after being denied state historic tax credits, the developers of the Dayton Arcade officially earned $5 million in incentives on Wednesday, June 28, 2017. TY GREENLEES / STAFF

Aerial view of the Dayton Arcade rotunda. Six months after being denied state historic tax credits, the developers of the Dayton Arcade officially earned $5 million in incentives on Wednesday, June 28, 2017. TY GREENLEES / STAFF

The planned innovation HUB at a potentially renovated Dayton Arcade is in the hunt for federal funding.

The HUB, which would be a joint venture between the University of Dayton and The Entrepreneurs Center, has applied for funding through the Priority Development and Advocacy Committee.

RELATED: Back at it: Dayton Arcade seeks $5M in incentives once again

The HUB is seeking $2 million in federal funding over the next year. The committee will sort through to make a prioritized list of what to ask for in Washington, D.C. during the Dayton Development Coalition’s lobbying efforts.

The arcade won $5 million in state historic tax credits over the summer and the development group has amassed tens of millions of dollars of tax incentives for the project.

RELATED: Dayton Arcade wins $5M in state tax credits

“The HUB will bring together unique academic and entrepreneurial partners to create a dynamic, vibrant destination,” reads the application to the committee.

UD president Eric Spina announced in April that the university could become an “anchor tenant” in a redeveloped Dayton Arcade.

UD envisions placing faculty and staff offices at the Arcade, offering courses there, as well as helping create an “ideation center” to focus on entrepreneurship and economic growth, Spina said.

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