Election 2014: We'll discuss the story behind the numbers
The Greater Cleveland Partnership's Government Advocacy Team will be working into the night on Tuesday to produce a special report for GCP members that looks at the results of local and statewide races and ballot issues and what they mean to the Northeast Ohio business community.
Watch for it in your Inbox early on Wednesday, November 5.
Facts to remember about the Tri-C and Cleveland school levies
If you’re voting at the polls tomorrow, here are a few important facts to remember about why the Greater Cleveland Partnership is urging you to vote YES
on Issue 4, the Cleveland Metropolitan School District capital levy, and Issue 6, the Cuyahoga Community College (Tri-C) operating levy:
Issue 4: Vote for quality schools
- Thousands of Cleveland students need up-to-date schools to prepare for jobs and college.
- Without raising taxes, Issue 4 will improve classrooms, labs, equipment and safety, prepare students for jobs and college with new technology and more. In addition,
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- Two-thirds of the cost of new schools will be paid by the State of Ohio, if Cleveland voters extend the $4 a month already paid. (per $50,000 property).
- The levy will generate about $200 million of revenue for construction and another $2.5 million annually for maintenance. The CMSD facilities plan calls for 22 new schools to be built.
Issue 6: The numbers speak for themselves
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For every $1 of support for Tri-C from Cuyahoga County, Tri-C provides a return of $10 in economic benefit to the community.
85 percent of Tri-C graduates live and work in Northeast Ohio and contribute to the economic growth of the region.
Issue 6, a levy renewal, includes an increase that will only cost an additional $2.63 per month ($100,000 home valuation).
- In 2013, more than 1,000 local companies hired Tri-C students or contracted with Tri-C to train their workers.
Middle-market perspectives: Ohio middle-market revenue, employment growth top U.S. averages
The third quarter of 2014 marked the third consecutive quarter of solid revenue growth for U.S. middle market companies. The National Center for the Middle Market’s 3Q 2014 Middle Market Indicator (MMI) survey also found that employment growth remained stable for the second straight quarter since significant increases were reported in 1Q 2014.
There’s also good news in Ohio where middle-market businesses outperformed national average over the past 12 months in both revenue growth at 10.6 percent compared to 7.5 percent nationally and in employment growth at 4.3 percent compared to 3.5 percent.
“Strong revenue and employment growth in Ohio’s middle market speaks to the significant impact these companies continue to have on our state and regional economies,” said Greater Cleveland Partnership President and CEO Joe Roman. “Their performance clearly demonstrates that they are a major force in our economic resurgence.
“At GCP, we’re ramping up our support of this key segment through our business development outreach and programming to be even more responsive to their needs.”
Looking ahead, Ohio middle market companies are sending a strong message about their future outlook with 79 percent saying that they preparing for growth through capital investment. In addition, their expectations for the next 12 months are higher than national averages with an 8.4 percent projected market growth compared to 5.5 percent nationally and 6.3 percent employment growth compared with 3.6 percent nationally.
In addition, Ohio middle-market executives are more confident in their local economy (80 percent) than their national peers (74 percent).
“This survey says that the performance of Ohio companies is not only strong when compared to national averages, but it’s getting stronger,” says Bernie Moreno, president of The Collection Auto Group and chair of GCP’s Middle Market Committee. “That’s terrific news about where we’re headed in terms of job creation and investment.”
The MMI surveys 1,000 CEOs, CFOs, and other C-suite executives of America’s middle market companies on key indicators of past and future performance in revenues, employment, and allocation of cash. The survey also reports middle market company confidence in the global, U.S., and local economies and identifies key business challenge areas.
Collaborate to create a culture of innovation
Creating an innovative culture at middle-market companies is critical to their success, as indicated in research by the National Center for the Middle Market
. Failure to innovate is practically asking competitors to leave you in their dust. Yet , middle-market businesses may not have the resources that large corporations can employ for similar efforts.
Erik Sherman, an NCMM contributor and author, suggests that mid-market companies consider a solution offered by GAA Accounting and use open innovation and combine resources with other companies. This could mean working with customers, suppliers, or sometimes even competitors.
The intent, he says “is to take some risk out of the creation of intellectual property. By working with others, your company is less likely to overlook a potentially important development. The result is being able to better afford research and development while speeding the process and gaining access to new ideas.”
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The National Center for the Middle Market is a strategic partner of the Greater Cleveland Partnership's Middle-Market Initiative.
MC2 STEM High School, supported by GCP and members, earns high honors from the state
The Cleveland Metropolitan School District’s MC2STEM High School
, which has received significant support from the Greater Cleveland Partnership and its members, is among eight Cuyahoga County earning "School of Promise
" and High-Performing School of Honor distinctions from the State of Ohio.
The annual recognition is divided into three categories, each with different criteria based on poverty rates and student scores on both the Ohio Graduation Test and the Ohio Achievement Assessments.
Based on the groundwork laid by GCP and its members several years ago to secure funding for the first two campuses of the MC2 STEM High School at GE Nela Park
and the Great Lakes Science Center
, last year CMSD was able to open its third MC2 STEM campus on the campus of Cleveland State University
contributed $1.25 million to renovate space at CSU for the school on two floors of Rhodes Tower. The space includes renovated classrooms and a state-of-the-art fabrication laboratory (or “fab lab”) that uses laser-powered technology.
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Cleveland shares in $1 million prize recognizing improvement in post-secondary attainment
The Northeast Ohio Council on Higher Education
(NOCHE) has been awarded the Talent Dividend Million Dollar Prize
in recognition of improvement in post-secondary attainment in the Akron Metropolitan Statistical Area.
The $1 million will be used throughout the region to support future postsecondary attainment initiatives with 30 percent shared throughout Northeast Ohio per a collaborative agreement among the Cleveland, Akron, Canton and Youngstown regions at the outset of the national competition. The Greater Cleveland Partnership participated on NOCHE’s steering committee
for this initiative.
Totally, Northeast Ohio has gained 92,000 college degree holders since 2009. This represents a nearly three percentage point increase. Each one percentage point increase in degree attainment in Northeast Ohio has a positive $2.8 billion annual economic impact for the region according to CEOs for Cities.
NOCHE member institutions include GCP members Cleveland Institute of Music
, Cleveland State University
, Cuyahoga Community College
, Kent State University
, Lakeland Community College, Lorain County Community College, Northeast Ohio Medical University
, and University of Phoenix (Apollo Education Group
). NOCHE collaborates with all of the region’s colleges and universities on internships, educational attainment and personalized blended learning.