LIMA, Ohio (WLIO) — Lima officials and Fifth Third Bank marked a major partnership Thursday that could bring new opportunities for the city’s growth. Mayor Sharetta Smith and Fifth Third Bank Executive Vice President and Chief Corporate Responsibility Officer Kala Gibson signed a proclamation affirming Lima as the first community selected for the bank’s new Small Towns and Small City Initiative.
The initiative aims to bring Fifth Third’s capital, expertise, and partnerships to support resident-focused plans. Gibson said the bank does not come in with a pre-set menu of solutions. “We actually show up and we listen to what the residents actually want to see happen in their city. And then we'll provide the resources. So if that's financial resources, political capital, or even social capital influence, to help them connect with their plans,” she said.
Mayor Smith said the partnership will accelerate Lima’s ongoing efforts. “This partnership is going to help us grow and accelerate a lot of the work that we've been working on over the past five years, which is investment in our small businesses, helping more families own homes, and making sure our infrastructure is built in a way that is sustainable for future growth,” Smith said.
Key focus areas for the initiative include strengthening housing and neighborhoods, revitalizing small business corridors, and expanding workforce opportunities. While Fifth Third has not disclosed a specific dollar amount, officials said the investment will total millions dollars.
