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Enterprise Ohio Investment Company
Enterprise Ohio Investment Company operates as the investment arm of CityWide Development Corporation, a Dayton-based nonprofit founded in 1972.
Enterprise Ohio Investment Company
Enterprise Ohio Investment Company operates as the investment arm of CityWide Development Corporation, a Dayton-based nonprofit founded in 1972. The organization channels capital into projects that aim to reverse disinvestment in the urban core, with Dan Kane serving as president of the parent entity and Janet White managing the investment company. Its funding mechanisms rely heavily on New Markets Tax Credits and other public-private gap financing tools, positioning it closer to a community development financial institution than a traditional family office or private investment firm. The portfolio concentrates on catalytic real estate and economic development within Dayton's city limits. Holdings include Tech Town, a mixed-use innovation campus, the North Arcade of the historic Dayton Arcade, the Wright Dunbar Historic District, and the Gem City Market—a community-owned grocery store addressing a food desert. The firm also backs commercial health infrastructure, including the Five Rivers Health Centers Edgemont Campus, and holds land parcels like Lakeside Lake for future redevelopment. The Dayton Region New Market Fund pools public and private capital to fuel these projects. Enterprise Ohio Investment Company does not publicly disclose its assets under management or total project deployment, and its team size remains unlisted. It operates from a single office at 8 N Main Street in Dayton. The firm's leadership embeds deeply in local economic planning networks: Kane chairs the Dayton Area Chamber of Commerce Board of Trustees and sits on the boards of the Downtown Dayton Partnership and the New Markets Tax Credit Coalition. Shane Wilken serves as treasurer for the Dayton chapter of NAIOP, the commercial real estate development association. The firm's philanthropic identity is indistinct from its parent's civic mission, without a separately branded grantmaking arm. The firm's structure is atypical among investment entities. It exists as a nonprofit-controlled subsidiary, blurring the line between municipal policy instrument and private capital allocator. This hybrid design allows it to blend public incentives—tax credits, federal grants, city land—with private investment returns, but it also subjects every decision to the governance of a nonprofit board with a 50-year history of Dayton-focused development. The result is a vehicle that exercises commercial discipline within constraints set by community need rather than LP return expectations.
General information
Firm type
Generalist
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Dayton
Corporate office
8 N Main Street, Dayton, OH 45402, United States
Principals
Dan Kane
President, CityWide Development Corporation
Janet White
Manager, Enterprise Ohio Investment Company; VP, CityWide Development Corporation
J. Stephen Herbert
Board Member (1982-2024), CityWide Development Corporation
Shane Wilken
Treasurer, NAIOP Dayton Chapter
Sector focus
Frequently asked questions
Who runs investment decisions at Enterprise Ohio Investment Company?
Dan Kane, as president of parent entity CityWide Development Corporation, sets the strategic direction for all investment activity. Janet White, a vice president at CityWide, directly manages the Enterprise Ohio Investment Company. The organization operates under a nonprofit board, which includes J. Stephen Herbert, a member from 1982 through 2024, ensuring multi-decade continuity in governance.
How does Enterprise Ohio Investment Company source its deals?
The firm sources almost all projects through deep ties to Dayton's civic infrastructure. Kane chairs the Dayton Area Chamber of Commerce and serves on the board of the Downtown Dayton Partnership, while the firm staffs the treasurer role for the Dayton NAIOP chapter. These embedded positions, combined with relationships to city government and the New Markets Tax Credit Coalition, funnel opportunities in distressed or underutilized urban properties directly to CityWide.
Does Enterprise Ohio Investment Company operate more like a venture capital firm or a community development entity?
It operates as a community development entity. Unlike a venture firm seeking market-rate returns, Enterprise Ohio uses gap financing, New Markets Tax Credits, and public grants to back projects that conventional lenders often bypass. Its portfolio consists of catalytic real estate—historic arcades, food markets in food deserts, health centers—rather than scalable startups, reflecting a municipal redevelopment mandate over a growth-equity mission.
What types of projects does Enterprise Ohio Investment Company typically fund?
The firm funds mixed-use redevelopment (Dayton Arcade North Arcade, Tech Town), commercial facilities serving underserved neighborhoods (Gem City Market, Five Rivers Health Centers Edgemont Campus), historic district revitalization (Wright Dunbar Historic District), residential development (Germantown Crossing), and land banking for future use (Lakeside Lake). Its toolset includes direct equity, bridge loans, and pooled capital through the Dayton Region New Market Fund.
What is the relationship between Enterprise Ohio Investment Company and CityWide Development Corporation?
CityWide Development Corporation is the nonprofit parent and sole manager of Enterprise Ohio Investment Company. CityWide was founded in 1972 to drive economic and community development in Dayton. Enterprise Ohio functions as its investment vehicle, executing the real estate and lending transactions that advance CityWide's mission. The two share leadership, an office at 8 N Main Street, and a common board.
Does Enterprise Ohio Investment Company maintain any philanthropic structures?
No separate philanthropic foundation is documented. CityWide Development Corporation itself is a 501(c)(3) nonprofit, and its entire balance sheet and project portfolio serve a charitable purpose—neighborhood revitalization. Donations, grants, and tax-credit equity flow directly into the parent and its investment vehicle rather than through a distinct grantmaking arm.
Where does Enterprise Ohio Investment Company's capital come from?
Capital sources are not publicly itemized, but the firm's legal structure and project types indicate a mix of federal New Markets Tax Credit allocations, state and local government grants, bank Community Reinvestment Act commitments, and foundation program-related investments. The Dayton Region New Market Fund pools capital from multiple institutions to deploy alongside Enterprise Ohio's direct balance sheet.
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