More than 170 years after first opening, Findlay Market remains a vital source of fresh food and a public gathering space — and now, for the first time, a new report reveals the full scope of its community impact.
From 2021 to 2023, the historic public market generated more than $370 million in economic activity, according to research conducted by the Cincinnati Regional Chamber’s Center for Research and Data. The findings underscore Findlay Market’s growing role as a hub for job creation, small business development and neighborhood revitalization.
“For the first time, we’re able to talk about the real impact of Findlay Market – not just the financial benefit to our local economy, but the generational impact on families and small businesses that rely on it every day,” said Kelly Lanser, president and CEO of the Corporation for Findlay Market, the nonprofit that operates the market.
Lanser said the data validated what many inside the market already knew – and actually exceeded expectations.
“All good surprises! We knew the numbers would be impressive, but we were still surprised to see the $370 million over three years,” she said. “That’s a really big number!”
Lanser added that she believes the figures in the report are a conservative estimate.
“We believe this total is actually more.”
A force for equity, entrepreneurship and neighborhood growth
Findlay Market’s business model reinvests in local food entrepreneurs through education and training programs like Findlay Kitchen, Findlay Launch and Findlay Learn. These initiatives offer space, mentorship and support, with a focus on equity and access.
Between 2021 and 2023, the market supported more than 522 businesses. Ninety-five percent of Findlay Kitchen vendors identify as BIPOC-, women- or immigrant-owned, according to the report. Every Findlay Launch graduate falls into at least one of those categories.
“Findlay Market is not just a cherished local institution,” said Brandon Rudd, director of the Center for Research and Data. “It’s a catalyst for small business growth, a link between regional farmers and urban consumers and a critical force in strengthening our local food system.”
The report also highlights the market’s broader influence on Over-the-Rhine. In 2023, the market generated more than $51 million in earnings, supported 1,096 jobs and delivered $9.2 million in local, state and federal tax revenue. Analysts project its annual impact will grow to nearly $170 million by 2026 – a 65% increase from 2021 – pushing the three-year total to an estimated $483 million.
Since 2021, more than $500 million in capital investment has flowed into the Market District, a section of northern OTR between Liberty Street and McMicken Avenue. That includes 1,049 new housing units across 53 projects and more than 4,100 jobs created or supported in the surrounding area.
Each year, the market draws about 1.4 million visitors and ranks among Cincinnati’s top attractions. Events like the Opening Day Parade draw massive crowds every year. More than 130,000 people attended the unofficial Cincinnati holiday in 2024 alone.
Cincinnati Mayor Aftab Pureval called the market “an economic and cultural center that drives vibrancy in our urban core.”
“Findlay Market is deeply tied to our history, our future and who we are as a city,” he said.
Quantifying impact, building the future
The idea of measuring Findlay Market’s value had been in the works for years.
“We were finding that as we talked about our work and the Market’s successes, we had limited data to tell the full story,” said Lanser, who joined the team in 2013 as promotions and events manager. “Combining qualitative impact stories with quantitative evidence, we can amplify our measurable value in a multitude of ways.”
“Findlay Market is one of a handful of true public markets left in our country,” she added. “We don’t take lightly our responsibility to ensure that the Market stays open and thriving for future generations, and understanding our impact is one way to help us guarantee that the kids today can be future shoppers and future business owners at historic Findlay Market.”
Beyond the numbers, Lanser stressed that the report will serve as a strategic tool to unlock future investment around the market, attract new vendors, and pursue vital grant dollars from government agencies and foundations.
“This report will open so many doors for us,” she said. “Being able to showcase how Findlay Market strengthens the local and regional economy will help us with policy and advocacy work, connecting with funders, and generally establishing credibility with stakeholders.”
Lanser noted that the data helps illustrate what regular marketgoers already know, what she calls “the everyday magic that keeps the institution alive.”
“Those of us that are at the Market all the time see the everyday work that is happening – from the produce stand merchants setting up before the sun is up to the community programming that happens for our neighbors,” Lanser said.
“We have shoppers that have been coming for generations and a wonderful mix of legacy businesses and new entrepreneurs. The numbers are incredible. The people are special,” she continued. “The behind-the-scenes work goes so deep. All of this combined creates pure magic – and now, through this report, we can talk about the impact of that magic.”
Staying the course amid rising challenges
Despite the optimistic outlook, challenges remain. Findlay Market, like many institutions, faces aging infrastructure, affordability pressures in a fast-developing neighborhood and rising costs that complicate some of its programming.
Lanser said national and local policy decisions could further impact both shoppers and small business owners.
“We continue to watch and be part of the conversations at all levels – local, state and national – that affect our shoppers’ ability to get fresh food and our merchants’ ability to run successful businesses,” she said.
Looking ahead, the market plans to integrate the findings into messaging and strategic planning, including for its 175th anniversary in 2027.
Findlay Market will celebrate that milestone in “big ways,” Lanser said, with the findings of the impact report woven into “many different things starting now, through this anniversary.”
Regardless of the rosy findings, Lanser said the market will remain focused on its core purpose.
“Findlay Market’s strength comes from its mission,” she said. “We’re here to create opportunity, preserve food access and make sure everyone has a place in Cincinnati’s future.”
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