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CDA closes on financing for UH Rainbow Center in Midtown
Cleveland Development Advisors (CDA), an affiliate of the Greater Cleveland Partnership, has closed on financing for the UH Rainbow Center for Women & Children in Midtown.
CDA provided a $10 million federal and $2.5 million Ohio New Markets Tax Credit Allocation. Additional allocation was provided by Northeast Ohio Development Fund (NEODF) and PNC Bank who also served as the investor.
The newly constructed facility of UH Rainbow Babies & Children’s Hospital and UH MacDonald Women’s Hospital will serve a federally designated medical/dental underserved area. Read more.
Investing in The Q boosts Cleveland’s growing hospitality industry
Last week, Greater Cleveland Partnership President and CEO Joe Roman was interviewed on “ESPN Cleveland Tonight” on ESPN 850 WKNR by host Dave Skoczen about the proposed renovation of Quicken Loans Arena.
He talks about how the expansion would have a positive impact on Cleveland’s hospitality industry—which is a steadily growing contributor to the city’s economy.
He also discusses why renovations are needed now to ensure that the 23-year-old arena can be competitive with newer facilities. Read more.
Click to listen.
Senator Portman in Cleveland to discuss Great Lakes
The Port of Cleveland hosted U.S. Senator Rob Portman and state administration officials for a roundtable discussion with stakeholders supportive of the Great Lakes Restoration Initiative (GLRI).
Greater Cleveland Partnership staff members were involved in the session that focused on how federal GLRI funding aims to combat invasive species, control polluted runoff and otherwise improve the Great Lakes.
A recent budget blueprint by the federal administration called for an elimination of GLRI funding. The GCP will continue working with local stakeholders, regional partners, and federal officials to build support for full funding ($300 million) of the GLRI. Read more.
Full federal funding urged to protect the Great Lakes
The Greater Cleveland Partnership
, the Port of Cleveland
and Cleveland Water Alliance
today issued the following joint statement in response to the federal budget proposal released last week:
“We stand in strong support of the Great Lakes Restoration Initiative (GLRI).
“Our lake, Lake Erie is a treasured asset and the most vulnerable of the five Great Lakes. It accounts for $10.7 billion in economic impact and roughly 30 percent of all tourism dollars that come to our state. This economic impact trickles into nearly every aspect of our community.
“The federal government must continue fully funding GLRI to preserve, protect and enhance the Great Lakes. We will work closely with our partners across the region and with our members of Congress to ensure this funding is restored.”
Don’t dim a good source of our city’s economic power
In a guest column in this week’s Crain’s Cleveland Business, Greater Cleveland Partnership President and CEO Joe Roman talks about why investing in The Q is also an investment in our community’s neighborhoods.
He notes that “The Q is a steady and dependable economic driver that enhances our fiscal resources and improves our business environment. It’s a fact that the Q is an economic powerhouse that benefits everybody in Cuyahoga County, including those who never attended any of the more than 200 annual events held at the facility.
“The venue creates a wide array of positive economic conditions. Last year alone, The Q was responsible for producing $44 million in taxes. And, since it opened in 1994, it has generated a total of $500 million in taxes. Read more.
Nominate your emerging leaders for GCP LEAD
We are currently accepting nominations of emerging leaders from Greater Cleveland Partnership member companies for the 2017 GCP LEAD Cohort 2. 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 the work of the GCP.
The GCP LEAD group will be an exclusive cohort of emerging leaders from member companies with at least five years of professional experience and an interest in getting involved in the areas of economic development, education and workforce, advocacy, diversity and inclusion, and business and physical development. Learn more.
Tax reform and the Northeast Ohio business community
On Friday, February 24, the Greater Cleveland Partnership (GCP) hosted a forum with Senator Rob Portman and GCP members regarding the direct impact our nation’s tax code has on job creators and the business community as whole.
The constructive discussion provided business leaders from across the region the opportunity to address critical tax issues and specific tax priorities that directly impact our region.
Click to watch a portion
of the Senator’s remarks after the meeting.
Plugging in: Business community input needed to address workforce challenges
In a 2016 poll of the Greater Cleveland Partnership (GCP) Board of Directors, approximately two-thirds of the respondents identified recruiting and retaining a qualified workforce as a top business challenge for their companies.
With the GCP ramping up its talent and workforce development efforts, there are currently several opportunities for GCP members to get involved in a variety of programs and initiatives.
Learn more about how you and/or others in your company or organization can plug in to provide business community input. Read more.
Addressing the challenges of recruitment and talent development
Workforce continues to be an area of challenge for Northeast Ohio employers.
Businesses are seeking skilled workers who are reliable, have on-the-job experience and are committed to growing with the company. At the same time, college students in the region are learning that in today’s competitive market, real-world work experience is crucial to landing a job and advancing their careers.
The second annual Cleveland Internship Summit, presented by the Greater Cleveland Partnership (GCP) last week at the Embassy Suites in Independence, helped further the conversation around these workforce challenges and provided best practices in recruitment and talent development. Read more.
GCP instrumental in significant business expansion project
The Greater Cleveland Partnership's Business Development team
and Cleveland Development Advisors
(CDA), the GCP’s real estate and business development finance affiliate, were instrumental in helping to marshal a financial package to support Charter Steel’s $150 million investment to build a new Special Bar Quality (SBQ) bar mill adjacent to its existing coil mill and steel-making operations in Cuyahoga Heights.
In addition, CDA has reserved (pending final underwriting and board approval) $10 million of its current award of New Markets Tax Credit Allocation for this significant business expansion project. Read more.
GCP PAC 2016 Annual Report released
As a region, we have recently enjoyed many gratifying success stories
The Greater Cleveland Partnership (GCP) is more energized than ever to support your priorities through government advocacy. Critical tools at our disposal, like the Greater Cleveland Partnership’s Political Action Committee (GCP PAC)—help ensure the collective voice of all our members is heard in state and local government.
The GCP recently unveiled the GCP PAC 2016 Annual Report
, a document that summarizes the progress we’ve made to further strengthen the GCP PAC and the impact we can have going forward by collectively pooling our resources for the betterment of our business environment. Read more.
Ensuring a level playing field for Ohio companies
In this segment of the “GCP Insight” video series, U.S. Senator Sherrod Brown’s conversation with Marty McGann, the Greater Cleveland Partnership’s senior vice president of advocacy, includes comments on the importance of trade enforcement to ensure a level playing field for Ohio companies.
Click to watch.
GCP Advocacy: A look back, a look ahead
The Greater Cleveland Partnership’s advocacy efforts are driven by our mission of mobilizing private-sector leadership, expertise, and resources from businesses of all sizes to create attractive economic conditions that create jobs, grow investment, and improve the prosperity of our region.
In 2016, we enjoyed some significant victories for the business community locally and throughout Ohio. Click for a summary of some of those victories.
The next few years will bring several changes to the political landscape at the local, state, and federal levels. Later this month, the GCP will release its board-approved 2017-18 Public Policy Agenda, which will serve as a road map for the top public policy issues that have been identified as important to the Northeast Ohio business community.
Cleveland-only minimum wage increase effort, opposed by GCP, is suspended
An initiative that proposed a Cleveland-only minimum wage increase was brought forward months ago that would have phased in a $15 an hour minimum wage (starting with $12 an hour in January 2018) while the rest of the state remained at $8.15.
The Greater Cleveland Partnership and our partners advocated for state intervention and opposed this misguided local minimum wage ballot issue because it would place the City of Cleveland at a disadvantage, hinder job creation, business growth, and the overall momentum the city is now experiencing.
Petitioners announced today that they are suspending their effort to raise the minimum wage in Cleveland but will continue advocating for a statewide effort to raise the minimum wage. Read more.
Looking ahead to build on positive momentum
As we welcome in the new year, the Greater Cleveland Partnership will continue to focus on continuing the positive momentum that has been building for many years and resulted in several memorable accomplishments in 2016. (See our 2016 year-end issue of Every Monday
Through the first half of 2017, we will launch a strategic planning process to identify where we should focus on percolating issues. We’ll also continue to drive the business community’s involvement in several of our current priority areas. Read more.