Stay Informed on News and Policy

Every Monday -- News from GCP

GCP Annual Meeting is sold out!

Thanks to our sponsors and members for your support of the 2014 Greater Cleveland Partnership Annual Meeting to be held Wednesday, April 2 from 4 to 7:15 p.m. at the Cleveland Convention Center. We’re very pleased that the event has sold out!

We’re looking forward to an exciting and informative program that includes keynote speaker Governor John Kasich and presentation of the Commission on Economic Inclusion Best-in-Class Awards for exemplary achievement in board, senior management, workforce and supplier diversity.

The networking reception will start at 4 p.m. followed by our program, which will begin promptly at 5 p.m. and conclude by 7:15 p.m. Click here for more information on our speaker, program and sponsors.

Meet the “Strong Contenders” for Best-in-Class Supplier Diversity


Click here find out the criteria used to pick the winners.
 

Community Benefits update: First group of pre-apprentices graduates

 

The Commission on Economic Inclusion, a program of the Greater Cleveland Partnership, is working with project owners and other stakeholders to develop a collaborative implementation plan for construction/community benefits agreements aimed at increasing local and minority skilled workers on major construction projects in the City of Cleveland.

As part of the implementation strategy to identify, train and place qualified female and minority workers in the construction trades in Cleveland/Northeast Ohio, earlier this month, a graduating class of 10 completed the course requirements of the Cuyahoga Community College Pre-apprenticeship Training Program. Organized labor, the Urban League of Greater Cleveland and Towards Employment provided referrals and/or financial support to launch this pilot effort.

These organizations and companies have signed community benefits agreements pledging to set goals for hiring local and minority skilled workers and to support training programs that feed the professional pipeline to the construction trades:

Catalytic projects get investment boost: CDA plays key role
in financing of The 9



Financing for the highly anticipated project, The 9, closed last week. Cleveland Development Advisors , the Greater Cleveland Partnership’s real estate and business development finance affiliate, provided a $7 million New Markets Tax Credit (NMTC) allocation and $6 million in financing, including $4 million from the new Advance Cleveland Development Fund.

The complicated structure utilized NMTC, federal and state historic tax credits, EB-5 financing from the Cleveland International Fund, and a City of Cleveland HUD 108 loan in addition to conventional financing and equity. In combination with the new Cuyahoga County Administration Building, the project will transform a key intersection in downtown Cleveland and redeploy 780,000 square feet of space that has been vacant for 20 years.

Due to open this fall, The 9 complex will offer 190 apartment units (40 to be affordable), a 156-room luxury hotel, and 70,000 square feet of retail and commercial space including a Heinen’s grocery store and the Downtown Cleveland Alliance (DCA) offices.

This project is a huge victory for the Nine Twelve District as well as the City of Cleveland and is sure to have a catalytic impact on adjacent properties along East Ninth Street and Euclid Avenue.

CDA makes another investment in University Circle


Uptown Phase II, MRN Ltd’s latest investment in the City of Cleveland, is well underway. Last week, Cleveland Development Advisors (CDA), the Greater Cleveland Partnership’s real estate and business development finance affiliate, closed on a $5 million loan for the build out of the anchor retail tenant, Corner Alley (above photo).

Uptown Phase II will add 84 apartment units and 46,000 square feet of retail to the vibrant University Circle neighborhood. The project builds on the success of the initial phase and provides the additional retail, dining and housing options that are in demand in the neighborhood. Uptown Phase II is on schedule to open later this year.

MRN, Ltd. is operated by partners Rick, Ari, and Jori Maron.
 

Middle-market update: Join us! GCP presents Northeast Ohio’s signature event for mid-market companies

Please join us on Friday, May 9 for the Greater Cleveland Middle-Market Forum, Northeast Ohio’s signature event for middle-market companies featuring high-profile mid-market CEOs, best practices and the latest research. Our program will be held from 7 a.m. to 1:30 p.m. at Corporate College East, 4400 Richmond Road.

A popular feature of our Middle-Market Forum is a focus on a Greater Cleveland middle-market “Growth Champion, a lively and informative conversation with the CEO of a high-growth Northeast Ohio mid-market company. This year we’re pleased that Ohio CAT President and CEO Ken Taylor has agreed to join us for this portion of the program.

Ken is chairman of the Board and president of Ohio CAT, the authorized and exclusive Caterpillar dealer in Ohio, northern Kentucky and southeastern Indiana. He joined the company in 1988, gaining experience in all areas of the business before assuming the role of president after his father’s untimely death in November 1994.

A third- generation owner of Ohio CAT, Ken holds a bachelor’s degree in economics from Amherst College (1984, cum laude), and received his MBA from the Weatherhead School of Management at Case Western Reserve University in 1997.

What ACA extensions mean for middle-market companies

Speakers at the Greater Cleveland Partnership’s Healthcare Forum last week took a deep dive into how the Affordable Care Act’s (ACA) most recent compliance extensions will impact middle-market companies.

Medical Mutual Vice President and General Counsel Patricia Decensi and Plante Moran Associate Scott McLellan spoke to about 75 middle-market executives about what mid-market companies need to know and stay compliant. Topics included:
  • Employer responsibility
  • Employer reporting
  • Waiting period limitations
  • Plan changes
  • Reinsurance fees
  • Automatic enrollment rules
Click here to view or download the presentation.

Assessment measures resiliency of middle-market supply chains

Developed by a research team at The Ohio State University Fisher College of Business and based on the Supply Chain Resilience Assessment and Management (SCRAM) tool developed by OSU's Center for Resilience, the National Center for the Middle Market’s SCRAM Lite tool allows companies to quickly assess the resilience of their supply chain.

By answering a set of eight questions on your company's supply chain capabilities and another set of eight questions on its vulnerabilities, you'll be able to see your company's supply chain resiliency score and determine what adjustments should be made in order to remain competitive.

Click here to get started.