Public-private partnerships, once again, have proven to be the driving force in securing a major economic development project for Greater Cleveland.
The latest project was announced last week by the Lincoln Electric Company
: the building of a Welding Technology Center on its Euclid, Ohio campus.
Scheduled to break ground in spring 2016, the Center will focus on training welding educators and industry leaders to address the rising demand for welding education and career pathways in welding and advanced manufacturing. It also will expand Lincoln’s local, national and global reach in its recognition as the global leader in welding education.
“This project demonstrates the strength and character of the public-private partnerships that exist in Cuyahoga County and the region,” says Greater Cleveland Partnership (GCP) President and CEO Joe Roman. “This is an investment not only in Lincoln Electric and Northeast Ohio but also our entire manufacturing industry.”
Securing the Center in Greater Cleveland was made possible through the collaboration of numerous public and private partners, including the City of Euclid
, Cuyahoga County
, Cleveland Development Advisors
(CDA), Team NEO
and the Development Fund of the Western Reserve
The GCP Business Development Team
played a lead role in the effort to secure the Center in Greater Cleveland. “We are here to support the businesses that call Greater Cleveland home. Our strong and ongoing relationships with our public sector partners, financial and educational institutions, and regional economic development organizations enable projects like this to become a reality,” says Deb Janik, the GCP’s senior vice president of real estate and business development. “Collaboration is at the heart of what we do.”
The deal could not have happened in Greater Cleveland without the involvement of CDA, the GCP’s real estate and business development affiliate. CDA led the effort to secure more than $10 million in New Markets Tax Credits toward project financing.
“A skilled workforce is key to strengthening our local economy,” said CDA President Yvette Ittu. “This state of the art technology and training center will be valuable as a workforce development tool increasing access to quality jobs. We are excited about Lincoln Electric’s commitment to ensure that employment and training opportunities extend to the immediate community.
According to Lincoln Electric Chairman and Chief Executive Officer Christopher L. Mapes: “We are thrilled that this state-of-the-art facility will be built in Euclid, Ohio at our Headquarters Campus. This investment reinforces Lincoln’s commitment to Cuyahoga County and Northeast Ohio.”