CINCINNATI, OH (FOX19) - The results of an economic impact study for the first phase of The Banks development have been released.
The study conducted by the University of Cincinnati Economic Center, the first phase has generated a $556 million construction impact on the local economy and an on-going annual economic impact of $91 million in Cincinnati and Hamilton County.
The first phase is expected to have a total economic impact of $276 million annually once it's complete. The study says the total economic impact will be more than $2.7 billion from 2011 to 2020 when combined with investments made by the city, county and master development team.
The construction of the first phase has or will generate 3,600 construction jobs and $600 million in economic activity, according to the study.