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Cleveland Development Advisors (CDA), the real estate financing arm of the Greater Cleveland Partnership, has committed its remaining $16 million in New Markets Tax Credit allocation to two projects in two major Northeast Ohio Cities– both of which represent catalytic, collaborative efforts to support major initiatives championed by local public, civic and business community leadership.
“These two Northeast Ohio projects represent capstone developments for the use of the balance of CDA’s New Markets Tax Credit allocation. Glenville Circle North in Cleveland and The Bowery development in Akron are both right down the fairway in terms of meeting CDA’s mission” said Yvette Ittu, President of CDA. “Both projects are extremely catalytic in nature and each are positioned to drive additional growth and have a long-term impact on the character and vitality of their cities and the region. We are very excited to be able to help move these highly impactful developments forward.”
Read this week's stories.
Despite Administration proposals that have attempted to end the program, both the House and the Senate have now passed appropriation bills that continue funding for the Great Lakes Restoration Initiative (GLRI) at $300 million over the federal fiscal year. The House and Senate-approved Interior bills, which includes funding for the GLRI, now heads to conference committee. Since both chambers recommended the same level of funding for the GLRI, the program is certain to be funded at that level.
Given the current polarizing climate, people across the country are engaging in conversations and debates that historically have been “off limits” for the workplace. But is there a benefit to companies, if these conversations are happening already, to not only removing that label but also encouraging and providing a safe place for these talks to take place?
Ohio City Galley, a food hall restaurant accelerator supported by the Greater Cleveland Partnership’s Cleveland Development Advisors (CDA), is scheduled to open in October.
Located at 1400 W.25 St. and part of “The Quarter” project in Cleveland’s Ohio City neighborhood, the $1.8-million development acts as a launch pad for restaurant entrepreneurs. Chef owners apply for one of four kitchen spaces in the 8,000-square-foot space to operate at low cost and low risk for one year.
Currently under construction, CDA provided project investment in the form of a $500,000 CDA-CRF loan. The City of Cleveland partnered with CDA on the project.
Good news across the board for Northeast Ohio travelers. Cleveland Hopkins International Airport saw more passenger travel in the first half of 2018 than any year since 2009.
And United airlines recently announced it is increasing services from Cleveland to Los Angeles, Houston, Orlando and San Francisco.
Having reviewed thousands of rules that impact the business community since its inception, Ohio’s Common Sense Initiative (CSI) has provided a model for addressing dated regulations. Last Tuesday, the Greater Cleveland Partnership (GCP) hosted CSI’s third Small Business Advisory Council meeting of the year. The goal? Shine additional light on a necessary, but often overlooked part of government – state regulatory requirements – and support the Northeast Ohio business community through continued representation on the CSI Small Business Advisory Council.
The Greater Cleveland Partnership (GCP) has been a long-time advocate for regulatory reform and continues to be a strong supporter of Ohio’s Common Sense Initiative (CSI).
Our members see value in Senate Bill 293 (SB 293), legislation that would require state agencies to review and reduce regulatory restrictions by 30% over the course of three years. On June 27th, GCP presented proponent testimony on the bill. The Ohio Senate passed SB 293 the same day.
Two GCP volunteer members serve on the CSI Small Business Advisory Council, a panel charged with helping state government achieve the right balance of regulations. The work of CSI is critical and our members strongly recommend it continue.
Senate Bill 220 (SB 220) has cleared the legislature and is awaiting the Governor’s signature.
Over the course of the last year, GCP and our members have had encouraging dialogue, resulting in the introduction of this legislation.
The purpose of SB 220 is to create an affirmative defense to a cause of action sounding in tort related to a data breach and it would apply to all businesses that include and comply with certain cybersecurity frameworks.
GCP hosted the sixth annual Empowering Local Leaders Conference this past week in Washington, DC, in partnership with Congressman Dave Joyce, Congresswoman Marcia Fudge, Congressman Jim Renacci, and Congresswoman Marcy Kaptur. During the conference sessions the 150 business, civic, and local public sector leaders heard from Congressional members from across Ohio, the U.S. Small Business Administrator Linda McMahon, House Minority Leader Pelosi, Amazon Global Innovation Policy leader Paul Misener, House Minority Whip Steny Hoyer and others.
Thanks to the efforts of the GCP Business Development team and their multiple regional economic development partners, Cuyahoga County continues to see an increase in jobs and retention in the first quarter of 2018.
Read about the results.
Low-cost carrier, Frontier Airlines is continuing its commitment to make flying to and from Cleveland Hopkins International Airport more affordable by adding service to San Antonio.
On Primary Election Day 2018, voters approved two issues supported by the Greater Cleveland Partnership (GCP).
A two-year renewal of the Cuyahoga County Health and Human Services (HHS) levy, Issue 9, passed with about 73 percent of the vote. GCP leadership will continue to actively work with Cuyahoga County to determine the need and future structure of HHS levies going forward.
Issue 1 will create a more bi-partisan, public process for drawing U.S. Congressional districts and it was authorized with approximately 75 percent of the vote.
Voters will be confronted with two important issues when they arrive at the ballot box on Tuesday, May 8. After careful analysis and consideration, GCP business leaders from across Northeast Ohio, recommend voting “Yes” on Issues 1 and 9.
Hundreds of middle-market companies gathered on April 25 for the Greater Cleveland Middle Market Forum.
The morning kicked off with the state of the middle-market presented by Tom Stewart from the National Center for the Middle-Market. The first quarter of 2018 is showing a steady rate of growth in revenue, employment and confidence in the local and global economy. Talent is the #1 challenge facing these companies. It is becoming more difficult to recruit and retain quality employees.
Immediately following the Stewart’s presentation, Robert J. Jackson, Jr., Commissioner of the U.S. Securities and Exchange Commission (SEC), shared his inaugural address with the crowd.
The breakout sessions covered three topics critical for leaders to understand to run a successful business in the current economy: taxes, workforce and technology.
The day concluded with a panel of local craft brewing leaders discussing collaboration, strategic vision and what’s next in the industry.
House Bill 10 (HB 10) – a bill that would permit intrastate equity crowdfunding under certain circumstances – has moved one step further along in the state legislative process. GCP and our partners have long been in favor of expanding access to early stage capital and our members are appreciative of the legislature’s desire to implement creative financing and programming in Ohio.
The GCP presented formal, written testimony in support of HB 10. The bill passed the Ohio House of Representatives last summer. On April 18, it was unanimously approved by the Ohio Senate Transportation, Commerce, and Workforce Committee.
Cleveland’s historic Standard Building, located at 1370 Ontario St., held its grand opening on Wednesday, April 11, beginning its new life as a mixed-use residential and retail building.
Now home to 285 apartments and complimentary first floor retail, the Standard Building was the second tallest building in Cleveland when it opened in 1925.
Learn more about the building.
The Cleveland Development Advisors (CDA) has proven itself to be one of the nation's most successful community development associations. In 2017, CDA deployed $56 million in financing to 13 impactful projects that represent $446 million in development.
Read the report.
Congress recently passed the FY 2018 spending package that included support for many GCP federal policy issues, including:
• Continued funding for the Great Lakes Restoration Initiative at $300 million to support the five lake basin.
• $1.5 billion to support the Transportation Investment Generating Economic Recovery (TIGER) grant program that provides critical discretionary funding for road, transit and maritime projects – this is triple the amount of funding from the prior year.
• More than $2.6 billion for the Capital Investment Grants program in addition to directed language for the Administration to continue the program as Congress intended.
Tim Ryan, PwC US Chairman and Senior Partner, keynoted the Commission’s annual CEO Forum on Monday, March 12. Ryan spoke to nearly 200 CEOs and senior leaders from GCP member companies about his decision to talk openly about race in the workplace.
GCP, the Fund for Our Economic Future, and TeamNEO submitted a joint recommendation of 84 census tracks to the State of Ohio for designation as Opportunity Zones.
The General Assembly unveiled the 2018 state capital bill last week. Companion bills – HB 529 and SB 266 – were released in the Ohio House and Senate Finance Committees.
The total bill provides $2.63 billion for capital bill appropriations and roughly $150 million for community projects. Cuyahoga County projects received more than $20 million in funding with more than half of that funding going to projects recommended by GCP. Most notably, $2.5 million was secured to continue efforts to stabilize Irishtown Bend, the hillside along the Cuyahoga River.
The GCP PAC is a nonpartisan, member-driven endeavor committed to advancing the business community’s interests by building and reinforcing relationships and supporting candidates and current elected officials at the state and local levels of government.
Learn how you can advance the business community's interests.
Northeast Ohio continued to see substantial business and real estate investment in 2017, and GCP and its numerous economic development partners played a significant role in the many expansion and attraction efforts throughout the region.
The GCP Business Development Team served as a critical partner in 52 business expansion and attraction projects in Cuyahoga County during the year that will result in nearly 7,000 new jobs and over a billion dollars in capital investment.
Read the full report.
With the expected release of the Fiscal Year 2019 federal budget today, Marty McGann, GCP’s Senior Vice President of Advocacy, along with Alesha Washington, Vice President of Government Advocacy, sat down to discuss several priorities that the organization will be monitoring in throughout the budget process.
This week, GCP along with several member companies and other chambers of commerce testified in support of HB 160 – the Ohio Fairness Act. If passed, the legislation would add gender identity and sexual orientation to the list of protected classes in Ohio’s Civil Rights law. Support for HB 160 follows GCP’s recent endorsement of Ohio Business Competes, a coalition of more than 300 companies that supports statewide non-discrimination policies for the lesbian, gay, bisexual, transgender and queer community.
Amazon recently selected 20 finalists for the company's second headquarters. Although Cleveland did not make the list, Columbus is still in the running.
“While we are certainly disappointed that Cleveland was not selected for the second round of the Amazon HQ2 bidding process, the collaboration of the public and private partners to tell Cleveland’s story will generate long-term benefits for all of Northeast Ohio,” said Joe Roman, President and CEO of the GCP. “We are pleased and congratulate Columbus for making it to the second round and are committed to supporting their efforts to land Amazon HQ2 in Ohio.”
Members of the GCP have increasingly identified cybersecurity as an emerging issue and significant challenge. On January 10, Tim Opsitnick (executive vice president & general counsel at Technology Concepts & Design, Inc.) presented verbal testimony, on behalf of the GCP, in support of Senate Bill 220 (SB 220).
The Greater Cleveland Partnership provides a unified voice for the Northeast Ohio business community and our policy priorities are driven directly by our members.
In 2017, a $1.5 trillion federal tax reform package was signed into law and the 132nd Ohio General Assembly introduced more than 700 pieces of legislation. In addition, numerous local initiatives were debated, including several crucial ballot measures that allowed the voters to help determine what the regional landscape will look like in the future.
Learn how the GCP Advocacy Team has helped member organizations in 2017 and the what is on the horizon for 2018.