The Greater Cleveland Partnership remains a strong supporter of The Q Transformation Plan
. Maintaining and upgrading our civic assets like Quicken Loans Arena prolongs their useful life and enhances the impact they have in our community.
There is no doubt The Q provides an unmatched economic impact in Northeast Ohio. The facility has over a thousand events annually, bringing roughly two million people to the heart of our city. Thousands of people from every community in our region are employed at The Q, and countless others benefit indirectly.
The Q Transformation Plan is a model public/private partnership. The investment is 50-50.
The public portion uses taxes already in place related to The Q, leftover from other projects, and on people who visit our region. NO NEW TAXES
are proposed as part of this plan.
In return, the Cavs will pay half of the cost for the upgrade, guarantee funds to the City of Cleveland General Fund and extend their lease by several years.
We will continue working with our members and other stakeholders to ensure this plan is executed.