State Capital Bill
The 2018-19 state capital bill is underway. This is a legislative-led process that provides funding for community projects across the state. Over the next several months, the General Assembly will work with the Administration to determine and prioritize significant projects to support with capital funding. GCP has historically participated in this process by prioritizing Northeast Ohio projects and advocating their importance to the legislature and Administration.
Recently, GCP joined metro chamber partners from across the state to encourage elected leaders to increase support for local projects, given the return on investment that they have for communities. In a letter signed by the Ohio Metro Chambers Coalition leaders stated, “While realizing the state budget is very tight, state capital projects leverage additional private investment enabling greater economic impact and job creation…nearly $2 billion of investment has resulted in our communities due to funding provided in the capital budget.”
GCP plans to work closely with the legislature to recommend a list of priority projects for the 2018-19 state capital bill. GCP will accept projects for consideration until October 31, 2017 with the intent of seeking approval from its board leadership by mid-November. For more information on the state capital bill or GCP’s process, contact Alesha Washington, Vice President of Government Advocacy.
Federal Tax Reform Priorities
Leadership in Washington continues to signal that Congress will attempt to tackle the first set of comprehensive tax reforms since the 1980’s. The final results are far from a finished product, but House and Senate Republican leaders recently crafted and unveiled their nine-page tax reform framework, in coordination with the Administration.
Members of the Greater Cleveland Partnership (GCP) believe a thoughtful, balanced, and competitive tax environment is critical to the success of our economy and that any reforms made must be all-inclusive and benefit all sectors of the business community.
Corporate tax reform is essential to growth. And, the GCP was encouraged the tax plan aims to cut the corporate rate and lower the top individual rate.
It is equally important to recognize most small businesses are organized as pass-through entities – they file taxes through the individual income tax code instead of the corporate income tax code. Therefore, the GCP is optimistic that the proposed tax framework strives to cut the rate for pass-through entities.
A tax overhaul and a long-term federal tax plan that results in parity for all business sizes and that incentivizes investment and employment must be realized. Having the tools – like the New Market Tax Credit – to advance transformational physical development in the City of Cleveland is also crucial. Our membership recognizes the importance of this resource as the GCP has partnered with organizations in the past to secure the successful passage of a five-year extension of the federal New Market Tax Credit program, a financing option that has been instrumental for development in low-income communities.
The House Ways & Means Committee has set an ambitious timeline and will aim to mark-up and vote on legislation before Thanksgiving. The GCP will continue to represent our members’ interests throughout the debate and advocate for comprehensive federal tax and entitlement program reform.
GCP is your one-stop Business Retention and Expansion resource.
The GCP Business Development staff is finalizing 2017 business outreach activity, and starting to schedule visits for 2018. This year we will conduct over 400 unique visits to businesses in our service area. Some visits uncover potential expansion and development projects that we can help with, some identify problems that we can help solve, and some simply offer an opportunity to build a relationship so you know who to call when issues and opportunities arise. Please contact us at 216-592-2208 or firstname.lastname@example.org to schedule your outreach meeting.
Nominate your emerging leaders for GCP LEAD
We are now accepting nominations of emerging leaders from Greater Cleveland Partnership member companies for the 2018 GCP LEAD Cohort 3. You may nominate one or two individuals.
GCP LEAD (Link. Engage. Advocate. Develop.) was created because the GCP recognizes the importance of cultivating our region’s future business and community leaders through becoming engaged in the GCP's work.
Nominees must have at least five years of professional experience and an interest in getting involved in the GCP's priority areas of economic development, education and workforce, advocacy, diversity and inclusion, business development, or physical development.
To submit your nomination(s), please contact Angela Finding at email@example.com.