News

CDA Hits $400 Million Investment Milestone

Cleveland Development Advisors (CDA), the real estate financing arm of the Greater Cleveland Partnership, has committed its remaining $16 million in New Markets Tax Credit allocation to two projects in two major Northeast Ohio Cities– both of which represent catalytic, collaborative efforts to support major initiatives championed by local public, civic and business community leadership.

“These two Northeast Ohio projects represent capstone developments for the use of the balance of CDA’s New Markets Tax Credit allocation. Glenville Circle North in Cleveland and The Bowery development in Akron are both right down the fairway in terms of meeting CDA’s mission” said Yvette Ittu, President of CDA. “Both projects are extremely catalytic in nature and each are positioned to drive additional growth and have a long-term impact on the character and vitality of their cities and the region. We are very excited to be able to help move these highly impactful developments forward.” 

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Congress Continues Support for Great Lakes Restoration Initiative

Despite Administration proposals that have attempted to end the program, both the House and the Senate have now passed appropriation bills that continue funding for the Great Lakes Restoration Initiative (GLRI) at $300 million over the federal fiscal year. The House and Senate-approved Interior bills, which includes funding for the GLRI, now heads to conference committee. Since both chambers recommended the same level of funding for the GLRI, the program is certain to be funded at that level.

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CDA-Supported Ohio City Galley Restaurant Accelerator to Open in October

Ohio City Galley, a food hall restaurant accelerator supported by the Greater Cleveland Partnership’s Cleveland Development Advisors (CDA), is scheduled to open in October.

Located at 1400 W.25 St. and part of “The Quarter” project in Cleveland’s Ohio City neighborhood, the $1.8-million development acts as a launch pad for restaurant entrepreneurs. Chef owners apply for one of four kitchen spaces in the 8,000-square-foot space to operate at low cost and low risk for one year. 

Currently under construction, CDA provided project investment in the form of a $500,000 CDA-CRF loan. The City of Cleveland partnered with CDA on the project.  

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Greater Cleveland Partnership Hosts CSI Ohio

Having reviewed thousands of rules that impact the business community since its inception, Ohio’s Common Sense Initiative (CSI) has provided a model for addressing dated regulations.  Last Tuesday, the Greater Cleveland Partnership (GCP) hosted CSI’s third Small Business Advisory Council meeting of the year.  The goal?  Shine additional light on a necessary, but often overlooked part of government – state regulatory requirements – and support the Northeast Ohio business community through continued representation on the CSI Small Business Advisory Council. 

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GCP Supports State Regulatory Reform Legislation

The Greater Cleveland Partnership (GCP) has been a long-time advocate for regulatory reform and continues to be a strong supporter of Ohio’s Common Sense Initiative (CSI).  
Our members see value in Senate Bill 293 (SB 293), legislation that would require state agencies to review and reduce regulatory restrictions by 30% over the course of three years.  On June 27th, GCP presented proponent testimony on the bill.  The Ohio Senate passed SB 293 the same day.   
Two GCP volunteer members serve on the CSI Small Business Advisory Council, a panel charged with helping state government achieve the right balance of regulations.  The work of CSI is critical and our members strongly recommend it continue.

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GCP Supported Cyber Bill Headed to Governor

Senate Bill 220 (SB 220) has cleared the legislature and is awaiting the Governor’s signature.  

Over the course of the last year, GCP and our members have had encouraging dialogue, resulting in the introduction of this legislation.  

The purpose of SB 220 is to create an affirmative defense to a cause of action sounding in tort related to a data breach and it would apply to all businesses that include and comply with certain cybersecurity frameworks. 

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Hundreds Attend Sixth Annual Empowering Local Leadership Conference

GCP hosted the sixth annual Empowering Local Leaders Conference this past week in Washington, DC, in partnership with Congressman Dave Joyce, Congresswoman Marcia Fudge, Congressman Jim Renacci, and Congresswoman Marcy Kaptur.  During the conference sessions the 150 business, civic, and local public sector leaders heard from Congressional members from across Ohio, the U.S. Small Business Administrator Linda McMahon, House Minority Leader Pelosi, Amazon Global Innovation Policy leader Paul Misener, House Minority Whip Steny Hoyer and others. 

Events

3Q Middle Market Forum

Greater Cleveland Partnership members are invited to join the discussion as we dissect the details of Blockchain and explore the new BlockLand initiative being driven by a number of leaders in the business community.  Hear about how BlockLand looks to deliver on its mission of establishing Cleveland as an epicenter of blockchain thought leadership, fostering innovation and commercialized solutions geared toward business and government applications.

Tenth Annual Inclusion Conference

This full-day experience will give participants the tools they need to take part in Bold, Inclusive Conversations®. The forum will introduce topics such as psychological safety, trauma, and polarization that are critical to understanding how the sociopolitical environment shapes the workplace and communities. Via an open forum, participants will have the freedom to share their fears, thoughts, and concerns while also laying the groundwork to engage in Bold, Inclusive Conversations®

Investor Series - Re-Connecting Cleveland: Pathways to Opportunity

metroparksIn July 2016, Cleveland Metroparks was announced as a winner of $7.950 million for its Re-Connecting Cleveland: Pathways to Opportunity grant application in the highly competitive Transportation Investment Generating Economic Recovery (TIGER) grant program through the US Department of Transportation. 

Join us at Merwin’s Wharf in Rivergate Park and enjoy the Cuyahoga riverfront as a perfect backdrop while Brian Zimmerman, CEO of Cleveland Metroparks, illustrates these projects in various phases of their development.  

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