In this week’s “GCP Insight” video, Greater Cleveland Partnership Senior Vice President of Advocacy Marty McGann talks about federal legislation passed last week that included significant wins for Greater Cleveland. Click to watch.
The GCP played a key advocacy role in working to secure important funding of or approval for:
NASA Glenn Research Center (GRC):
The Center had been threatened with a 10 percent cut–about $60 million—from in its fiscal year 2016 budget. The effort, led by Sen. Rob Portman and Rep. Dave Joyce, led to approval of GRC funding at the full level.
2016 Republican National Convention Security
: In the same legislation, the City of Cleveland received $50M to cover for expenses related to security for this high-profile event.
The program, which connects overseas investors to Northeast Ohio physical development projects in Northeast Ohio, was extended through Sept. 2016. The GCP partners with Cleveland International Fund (CIF) which invests EB5 dollars in qualifying projects such as Phases 1 and 2 of Flats East Bank and the Westin Convention Center Hotel
New Market Tax Credits:
Cleveland Development Advisors, the GCP’s real estate and business development finance affiliate, has been the recipient of funds that incentivizes private investment in downtown and Cleveland neighborhood physical development projects. The program was reauthorized for five years.
The ”GCP Insight” video series, hosted by Lesic and Camper Vice President Steve Luttner, focuses on topics of interest to the Greater Cleveland business community.