Crowdfunding Legislation Supported by GCP Clears One More Hurdle
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.
Crowdfunding is meant to assist projects or ventures by raising money, typically via the Internet. A project initiator introduces a project or venture to be funded, individuals or groups may support the idea, and a platform is used to bring the parties together.
HB 10 is similarly structured with federal regulations and established standards that were recently implemented, permitting crowdfunding under federal securities laws. The legislation would allow for Ohio crowdfunding through an “OhioInvests Portal,” a website regulated by the Ohio Division of Securities.
The goal of this legislation is a step in the right direction and GCP welcomes the opportunity to continue working with the Ohio General Assembly to foster a strong, vibrant business community in Ohio.
Tech Week Highlights
GCP connects Tech employers, candidates at Linking IT Talent Job Fair
Two dozen Northeast Ohio employers gathered at the Independence Civic Center on Wednesday, April 18 for the seventh annual Linking IT Talent Job Fair – a collaboration between Greater Cleveland Partnership’s Business Development Team, OHTec and the Northeast Ohio Council on Higher Education (NOCHE).
The free event gave participating companies access to over 200 resumes and the opportunity to meet in person with 160 current students, recent graduates and professionals to discuss IT internship and job opportunities. It was part of Tech Week 2018, OHTec’s annual initiative to promote and support Northeast Ohio’s IT industry.
The City of Independence provided space for the event, and Mayor Anthony Togliatti welcomed the group in person.
MCPc is co-presenting sponsor of Tech Week, and Director of Talent Acquisition John Flynn was thrilled with the turnout.
“We have been very happy with our OHTec partnership,” said Flynn. “We were able to meet some great new talent. It was one of the best-attended career fairs we have seen in a long time and really showed the strength of emerging talent in Northeast Ohio.”
For more information about the event or to discuss how GCP's Business Development team can assist your business with growth and retention, please call 216-592-2208.
Winners Announced in 12th Annual Best of Tech Awards
CLEVELAND (April 20, 2018)—On April 19, more than 220 tech leaders from across Northeast Ohio gathered at the Tenk West Bank to see which companies would be honored at OHTec’s 12th annual Best of Tech Awards, which recognizes the highest performing and most innovative technology companies in Greater Cleveland.
See the winners.
Update: Medical Marijuana in Ohio
While the GCP remained neutral on the initiative that passed two years ago legalizing medical marijuana in Ohio, our members did advocate passionately for specific employer protections that were ultimately included in the law. The employer protections, among other things, are designed to defend an employer’s HR policies, drug screening policies, and procedures. And, the Governor appointed a GCP Board member to Ohio’s Medical Marijuana Advisory Committee; the role is to protect employers’ rights as regulatory proceedings on medical marijuana take place in Ohio throughout the implementation of the program.
Provisional licenses for 24 medical marijuana cultivators have since been named. Certificates to recommend medical marijuana have been awarded to 36 physicians (approximately 50 applied) via the State Medical Board of Ohio. Initial medical marijuana dispensary certificates of operation are expected in September of this year. For a timeline of the overall program, click here.
As Ohio implements the Ohio Medical Marijuana Control Program, GCP will continue to represent the business community’s interests in Columbus. See this website for regular updates.
Cleveland Hopkins Airport Shows Increase in Passenger Numbers for First Quarter
Passenger numbers for first quarter of 2018 are up 9.9% compared to the first quarter of 2017. This activity is expected to increase with the new services provide by WOW, Icelandair as well as Delta and Frontier airlines.
2018 Board of Directors Ballot and Proxy
As the designated representative of a member company of the Greater Cleveland Partnership (GCP), you are entitled to vote in the election of the GCP Board of Directors. As indicated in the ballot, 24 nominees will be elected to three-year terms that expire in 2021, which includes new Directors and those being re-elected to the GCP Board. There are 2 nominees to be elected to fill open seats in the class of 2020 and 1 nominee to be elected to fill an open seat in the class of 2019. Pursuant to the Code, candidates have been recommended by a nominating committee and notice was given to the membership inviting additional nominations. No nominations were received from the Members.
Vote for the candidates who are listed in the table here. By checking the appropriate box below, you may either submit proxy instructions to vote for the entire slate of nominated candidates or submit proxy instructions to vote for individual nominees. Please return your completed ballot and proxy to the GCP offices by mail o the attention of: Secretary,Greater Cleveland Partnership, 1240 Huron Road E, Suite 300, Cleveland, Ohio 44115-1717, email email@example.com, or fax (216) 687-6788 on or before April 30, 2018.
See complete ballot.
KeyBank Foundation Provides $10M Grant to Rock Hall
The KeyBank Foundation has provided a $10-million grant to the Rock & Roll Hall of Fame, the largest philanthropic contribution ever given to the Rock Hall.
“We could not be more excited or more proud to announce this new partnership with the Rock Hall,” KeyBank CEO and former GCP Board Chair Beth Mooney said in a news release. “At KeyBank, we have made it our mission to create thriving communities and we believe that access to arts and culture is core to that mission. Through this unprecedented gift, we will work to provide greater accessibility for the community and preserve this national icon and regional treasure for future generations.”
KeyBank has been actively involved with the Rock Hall since the Hall opened its doors in 1995. Key has invested in programming and sponsorship opportunities, including the American Music Master Series, Rock and Roll Couture event, induction weekend, summer concert series and community festivals.
This latest grant to the Rock Hall is another in a long show of support to the region’s arts and culture community. During the past five years, the bank has contributed almost $40 million to area institutions such as the Cleveland Orchestra; PlayHouse Square; Broadway Series; Cleveland Museum of Art; Cleveland Metroparks; Great Lakes Science Center; the Karamu House; Cleveland Public Theatre; Near West Theatre; and the Cleveland Museum of Natural History.
“We are grateful for this monumental support from KeyBank,” Rock Hall President and CEO Greg Harris said in the release. “This generous grant fuels our continued transformation and allows us to amplify our impact on Northeast Ohio.”