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Greater Cleveland Partnership Blog
A modest but highly effective community development tool that has financed a significant part of Cleveland's renaissance may soon be lost unless Congress acts to secure it before adjourning this month.
The New Markets Tax Credits program was designed to increase the flow of private capital in low-income communities by offering investors a tax credit on investments made in qualified businesses and economic development projects that will benefit the residents of these communities.
In Cleveland, NMTC has been an undeniable success. We can point to a long and impressive list of tangible results that show a return on investment made possible with the credit. Without this program, the welcome revitalization of our city would not be what it is today.
According to the National Center for the Middle Market (NCMM), middle-market companies that make exporting part of their business model perform better than their peers. Whether in manufacturing or services, these companies tend to generate stronger revenues and overall growth, and report strategic and operational benefits from global engagement.
Yet, NCMM surveys and other research studies consistently show that mid-sized companies are not maximizing their exporting promise and not even fully considering the possibilities.
Mentorship is a personal developmental relationship in which a more experienced or more knowledgeable person helps to guide a less experienced or less knowledgeable person. There are many different kinds of mentorship programs offered to individuals in the region including youth/teen, student development and entrepreneurial.
Read on to learn about these programs in the Cleveland Plus region that provide area influencers and potential business leaders with the tools and confidence they need to achieve success.
Is one of them the right fit for you to get involved?
It’s a great time to be working in Northeast Ohio.
There is a palpable feeling among those in the know that our entrepreneurial ecosystem is on the right track. Our homegrown ventures are routinely making national news
for their exciting deals and venture capitalists are now making comparisons
between Ohio in 2014 and Silicon Valley in 1975.
Just last month, the Ohio Third Frontier added more good news
, committing $19 million to a collaborative network of 16 entrepreneurial support organizations in Northeast Ohio, including JumpStart. These funds will allow us to continue assisting entrepreneurs across our vast 21-county region, which houses nearly 40 percent of Ohio’s population and more than 35 percent of the state’s GDP.
Behind every business decision is a motivation, whether or not it is articulated.
In the case of diversity & inclusion (D&I), when an organization chooses to create a formal structure, commit resources, and incorporate D&I into business planning, this action is typically motivated by one or more of the following:
- A need to retain current consumers or to expand markets to a broader range of consumers
Through our Government Advocacy Team, GCP works to educate and activate elected officials and thought leaders to create and shape government policy to advance our region and our economy. We serve as “one voice” advocating for business community priorities at the local, state and national levels. This infographic showcases how our advocacy efforts have bettered our community and other northeast Ohio organizations.
Performance management—the process related to identifying, assessing and improving employees’ performance— is not the most popular task on a manager’s to-do list.
It may be because it can require awkward conversations with low-performing employees. Or, others may not see it as a credible measure of productivity. Regardless of the obstacle, it is to the benefit of middle market companies to make performance management an integral part of every working day.
Regardless of their size, industry or location, many middle-market companies face challenges with complying with external regulations.
Compliance is often done out of necessity in response to an auditor or government regulator. And although this process may be time-consuming and burdensome, it is to the company’s advantage to comply forthrightly and to meet designated deadlines.
The increase in shale gas production in the United States has led to a new abundance of natural gas for our country. This is significant because natural gas provides a quarter of U.S. energy, including the nation’s electricity. The increase in shale production not only benefits our energy supply, but it also has the potential to create jobs and boost government income.
So what exactly is shale, and why is it important to Northeast Ohio?
It's normal for upper management to insist on making important business decisions to ensure that they reflect the well-established priorities of the company and out of concern that lower-level employees will make the wrong decision.
However, management may not realize that an overly centralized and hierarchical decision-making process can be at odds with the reality of having increased business complexity and restricted resources. This can be particularly true for middle market companies.