News

CDA closes on financing for new urban high school

Cleveland Development Advisors (CDA), the Greater Cleveland Partnership’s real estate and business development finance affiliate, closed on financing for the new Saint Martin de Porres High School (SMDP) in the St. Clair Superior neighborhood.

SMDP is a Cristo Rey Network school that provides children of modest economic means with an education experience that includes work study, service, leadership training and spirituality.

CDA provided Federal and Ohio New Markets Tax Credits as well as a loan. Read more.

Nonstop service continuing from CLE on two routes dropped by United


Although United Airlines is eliminating nonstop service between Cleveland Hopkins International Airport (CLE) and St. Louis in May as part of a system-wide realignment, the route will be picked up in June by Southwest Airlines.

This change, as well as United’s decision to cut its nonstop route from CLE to Las Vegas, reflects the reality of the marketplace, says GCP President and CEO Joe Roman, which can be a positive for Hopkins travelers.

“CLE’s high origination and destination passenger continue to be strong, which has attracted low and ultra-low cost carriers, increasing competition and driving down fares benefiting travelers, “said Roman.

“United’s system-wide realignment decision to reduce and replace regional flying impacts the CLE-STL route, but we’re fortunate to have Southwest Airlines picking up the route with larger equipment."

In addition, passengers flying to Las Vegas can choose from three nonstop options. Southwest, Frontier and Spirit are providing service. Read more.

GCP submits list of high-impact projects for funding in state’s upcoming capital bill

CLEVELAND - The Greater Cleveland Partnership (GCP) is recommending that the Ohio Legislature include financing for 11 high-impact projects in the state’s 2016-17 capital bill.

The GCP – the largest chamber of commerce in Ohio – traditionally submits its list of capital budget priorities to the legislature. Legislators have given the GCP recommendations a high priority in the crafting of past capital bills.

The 2016-17 capital bill will be drafted later this year. The 2015-2016 capital bill included over $30 million for community projects in the greater Cleveland area. Read more.

How internships can be a ” win-win” for employers and students

In this week’s “GCP Insight” video, Shana Marbury, the GCP’s general counsel and vice president, strategic initiatives and research, talks about the value of internships for both employers and students.

Learn how the GCP and Cleveland State University are working together to improve and enhance internship opportunities through the upcoming Cleveland Internship Summit and how you can add your input and ideas. Click to watch.

GCP reiterates position on harmful local hiring legislation

The Greater Cleveland Partnership (GCP) continues to be opposed to state legislation that would prohibit local residency hiring requirements for public construction contracts.

Separate bills – HB 180 and SB 152 – have passed their respective chambers and are now being heard in the opposite House and Senate committees. SB 152 is scheduled for a hearing in the House State Government Committee this week. Ultimately, the House and the Senate need to agree on a single bill that can be sent to the Governor to sign into law. Read more.

Ohio's middle-market growth improves, tops national trend

Ohio’s middle-market companies’ year-over-year revenue growth in 2015 improved compared to 2014, according to the National Center for the Middle Market’s Middle Market 4Q 2015 Indicator report released last week.

Last year’s Ohio middle-market revenue growth rate was reported at 6.6 percent, compared to 5.4 percent at the end of 2014.

As a result, Ohio revenues topped the national 2015 growth rate of 6.1 percent, which was a full percentage point lower than what was reported at the end of 2014. Read more.

GCP, COSE reiterate employers' perspectives on state tax policies

The Greater Cleveland Partnership and its small business partner, COSE, recently submitted written testimony to the Ohio 2020 Tax Policy Study Commission to reiterate the perspective of small, mid-sized and large employers as it relates to tax policy in Ohio.

The testimony from GCP Senior Vice President of Advocacy Marty McGann highlights several key points made by GCP and COSE during the state operating budget process.

Click to read the testimony
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GCP congratulates NASA Glenn on its 75th anniversary

NASA Glenn Research Center is celebrating its 75th anniversary starting this month.

“The Greater Cleveland Partnership is proud to continue leading the advocacy efforts to maintain and build upon the viability of NASA in this region,” said GCP President and CEO Joe Roman.

“Lewis Field and Plum Brook Station, which comprise the Glenn Research Center, have added billions of dollars to our economy, attracted top talent to its workforce and continue to be a source of pride for our citizens.”  

To commemorate this milestone, the center has created a 75th anniversary logo featuring  an image of the center’s distinctive airplane hangar, a symbolic orbital trajectory, and the message “Our Past. Our Present. Your Future.” Read more.

Joe Roman on WTAM

In this month's "Wills and Snyder" interview with host Bills Wills, Greater Cleveland Partnership President and CEO Joe Roman talks about:

  • More dollars for downtown development: Developers are willing to invest because they see opportunities as Cleveland’s downtown population continues to grow.
  • The cost of airfare for Hopkins travelers continues to drop: The absence of a hub has meant a decline in ticket prices and other airlines adding routes. Cleveland is a strong market and they want to be here.
  • Positive trends in brain gain: A new study by Cleveland State University has found that Cleveland ranks eighth among cities in the growth rate of college-educated millennials and more.

  • Readiness to host the 2016 Republican National Convention: Projects such as the Public Square renovation & Convention Center Hotel are on time and on budget, while the 16,000+ hotel rooms needed have been secured.
Click to listen.

Supporting Northeast Ohio companies helps grow the region’s economy

With 40+ growth and expansion projects currently in the pipeline, the Greater Cleveland Partnership’s award-winning Business Development Team is gearing up for 2016.

“The growth of our regional economy is driven by the base of companies that call Northeast Ohio home,” says Deb Janik, the GCP’s senior vice president of business and real estate development. “Our team is focused on helping them solve problems and take advantage of growth opportunities." Read more.

Events

Morning Conversation: Mayor Gary Norton, Jr.

Greater Cleveland Partnership members are invited to join us for a Morning Conversation with East Cleveland Mayor Gary Norton, Jr.

Norton was elected mayor of the City of East Cleveland in November 2009 and was re-elected in 2013. During his time in office, he has faced some significant economic, social and community development issues, most notably addressing the fiscal health of East Cleveland and the possibility of a merger with the City of Cleveland.

Please RSVP to advocacyevents@gcpartnership.com.

The GCP Morning Conversation series is sponsored by:

GCP 1st Quarter Middle-Market Forum

"Monetary Policy and the Middle Market: Lowering your Exposure to Higher Interest Rates"

The Greater Cleveland Partnership is pleased to invite CEOs and C-suite executives from our middle-market member companies to our first Middle-Market Forum of 2016.

For the first time since 2008, the Federal Reserve Bank is raising its benchmark interest rate from near zero to between 0.25 percent and 0.5 percent offering insight on the Fed’s position on the U.S. economy. However, other G-20 economies are still facing challenges and, accordingly, different central banks are still in the midst of expansionary policies.

Please join us as industry experts from PNC Bank share how interest rates and currency markets impact your middle-market company as well as how they affect the Northeast Ohio economy.

You’ll also learn how you can lessen your exposure to market fluctuations and to mitigate uncertainty.

Thanks to our sponsors:

2016 Greater Cleveland Middle-Market Forum


Save the Date!!

Please mark your calendar and plan to attend the 2016 Greater Cleveland Middle-Market Forum, Northeast Ohio's premier event for middle-market companies on Thursday, May 12 at Corporate College East. The forum is for middle-market CEOs, C-suite executives and their direct reports.

Sponsored by:

Videos