- GCP Reflects on Achievements Charts a Course to Help Cleveland Turn the Corner
Greater Cleveland Partnership Reflects on Achievements, Charts a Course to Help Cleveland 'Turn the Corner'
Wednesday, March 05, 2008
Cleveland, March 5, 2008 - The Greater Cleveland Partnership (GCP), before an audience of more than 400 business leaders and community partners, this morning unveiled its plans for revitalizing Greater Cleveland's economy. After a successful year, the region's largest chamber of commerce reflected on some measurable wins. The GCP also looked to the future with the release of an updated strategic plan.
Looking Back: Key 2007 Achievements
The GCP's main areas of achievement and progress were in innovation, regional marketing, economic inclusion, and physical development. Through direct investments and partner participation, the GCP has made advances in maintaining and growing the local economy. Chairman Frederick R. Nance, regional managing partner of Squire, Sanders & Dempsey, presented numerous accomplishments, including:
Innovation and high tech: The GCP's work with NASA Glenn helped to secure its role as a primary provider for the space exploration mission and will result in a multi-million dollar makeover for Glenn's facilities. In addition, the GCP's $2 million investment in partners BioEnterprise, JumpStart, MAGNET, NorTech and Team NEO is paying off with hundreds of millions dollars being invested in Northeast Ohio technology companies and initiatives from both private and public over the last five years.
Regional marketing: Working with partners Positively Cleveland and Team NEO, the GCP launched the Cleveland Plus campaign in April to attract business investment, drive tourism to the region, and instill pride among the region's more than 4 million residents. The GCP played a leadership role in securing nearly $2.6 million to fund the campaign. In the first year of Cleveland Plus, Team NEO reports a 60 percent jump in interest in the region as a location for new business facilities, among other positive results.
Economic inclusion: The Commission on Economic Inclusion, a GCP program, was awarded a $1 million grant from the Fund for Our Economic Future to create the Minority Business Accelerator, an initiative focused on growing the scale, size and infrastructure of minority-owned businesses with annual revenues of at least $2.5 million.
Physical development: The impact of GCP and its real estate partner Cleveland Development Advisors (CDA) is evident in the more than $5.5 billion being invested in Cleveland's infrastructure, neighborhoods, and entertainment districts. In 2007, CDA also successfully competed for an allocation of $25 million in federal New Markets Tax Credits that will spur even more development opportunities.
"Under Fred's leadership, the Greater Cleveland Partnership has focused on economic development projects both large and small that will create jobs," said Joe Roman, president and chief executive officer of the Greater Cleveland Partnership. "And with the launch of Cleveland Plus last year, the visibility of the entire region is being elevated in a way that has never before been done."
Looking Forward: 2008-2011 Strategic Objectives
The GCP executive committee elected Henry L. Meyer III, chairman and chief executive officer of KeyCorp, to succeed Nance as chairman of the organization. Meyer's first order of business was to release the GCP's updated strategic plan, entitled Cleveland Plus: Turning the Corner, which will guide the efforts of the organization through 2011. The plan outlines seven strategic objectives aimed at growing the region's economy:
Advocate with one voice: The size of the GCP's membership gives it the clout necessary to speak with one voice on behalf of the private sector.
Advance small business success: COSE, the GCP's small business partner, will continue to support and help grow the region's small businesses
Accelerate economic inclusion: The Commission will accelerate its efforts to ensure that minorities more fully participate in and benefit from the region's economic development.
Build a high-impact, sustainable economic development system: The system that GCP helped create--comprised of BioEnterprise, JumpStart, MAGNET, NorTech, Team NEO, the Cleveland Plus Marketing Alliance and GCP's Business Development Team--is demonstrating a growing capability to retain and create jobs and wealth for all residents at scale.
Change the face of Cleveland: A focus on major physical development projects and new mixed-use development opportunities that will transform the Cleveland's economy and re-claim its position as an economic driver in the region, the nation and the world.
Strengthen global connections: The region's global competitiveness is tied to having world- class physical and human capital assets and organizational capacities that support commerce between our companies and the rest of the world.
Initiate a demand-driven talent system: The availability of an educated and skilled workforce is essential to fueling economic growth and to providing opportunity for area residents.
"The GCP is committed to helping grow the region's economy. In our first four years, we've achieved incredible success, but we also realize that considerable work needs to be done," said Roman. "While continuing our efforts in advocacy, small business, economic inclusion and economic development, in particular, the GCP is also undertaking some new initiatives with a focus on physical development, global connections and a responsive talent system."
The full strategic plan is available online at www.gcpartnership.com/strategy
The Greater Cleveland Partnership, the primary voice for businesses in Greater Cleveland, seeks to create jobs and improve the economic vitality of the region. On behalf of its more than 17,700 members, the GCP advocates with one voice; advances small business success; accelerates economic inclusion; builds a high-impact; sustainable economic development system; changes the face of Cleveland; strengthens global connects; and initiates a demand-driven talent system. The GCP is a founder and proud supporter of the Cleveland Plus marketing campaign. http://www.gcpartnership.com
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