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Cleveland Business Community Invests More Than $2 Million in the Region's Economic Future.

Greater Cleveland Partnership Makes Effective Use of Business Community Resources

CLEVELAND -- In 2007, the Greater Cleveland Partnership (GCP) will invest more than $2 million in key partner organizations to help build a regional job creation system, bringing the four year total to more than $11 million invested in Northeast Ohio economic development organizations. These investments help the Greater Cleveland business community to efficiently use its most valuable resources--time and money.

By focusing on job creation and investment, GCP has helped restructure the economic development system in Greater Cleveland. GCP partners with just a few organizations, each with a targeted mission, that are actively addressing the challenges facing the region. These organizations are NorTech, JumpStart, MAGNET, Team NEO, and BioEnterprise.

"The business leaders in our region have a reason to be proud," said Joe Roman, president and chief executive officer of GCP. "Through their membership in the Greater Cleveland Partnership, we've pumped more than $11 million into the economic development engine that is fueling our region."

Investments in improving Greater Cleveland's economy by the business community have helped leverage state and federal funds for the region. For instance, NorTech and other GCP partners, including JumpStart, BioEnterprise and MAGNET, were recently awarded a $12.4 million State of Ohio Third Frontier grant for the Entrepreneurial Signature Program, which will help to increase effort to commercialize technology-based products and services.

"The Northeast Ohio economic development landscape is more streamlined and productive than it has ever been and it is operating more regionally," said Roman. "Creative funding sources, both from the re-investment of dollars realized by efficiencies achieved by the Greater Cleveland Partnership and the innovative funding solutions created by the Fund for Our Economic Future and the State of Ohio Third Frontier program are helping to change the way this region executes economic development initiatives."

The GCP, as the one voice of business for Greater Cleveland, not only provides financial support to its partners, it also advocates on their behalf in Washington, D.C., in Columbus and at City Hall.

The Greater Cleveland Partnership, the primary voice for businesses in Greater Cleveland, seeks to create jobs and wealth, and improve the economic vitality of the region. Its priorities include technology, innovation and high-growth businesses; connected physical development; education and workforce development; and business attraction, retention and expansion. The GCP emphasizes service to its more than 15,400 members; advocacy on behalf of members and the region; diversity and inclusion; and internationalization of the region and its businesses.
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Publication:Business Wire
Date:Jan 26, 2007
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