When construction finally wrapped up in 2008 on the Euclid Corridor, civic leaders felt triumphant. The $200 million project to redevelop crumbling Euclid Avenue -- once dubbed "Millionaire's Row" for its opulent, turn-of-the-century mansions -- would spur economic development and connect downtown with University Circle, they believed.

Then the global recession hit. Banks stopped lending, businesses halted expansion plans and the nation slid into a great recession. The once-tangible vision of attracting health care and tech companies to the sparkling boulevard seemed like the stuff of dreams.

Yet at MidTown Cleveland's recent annual meeting, civic leaders touted recent developments showing the vaunted Health Tech Corridor is gradually becoming a reality. The Euclid Corridor has created "a globally competitive environment to attract and grow biomedical, health care and medical supply chain businesses in Midtown and beyond," MidTown's annual report stated.

Recent accomplishments include breaking ground on the Midtown Tech Park at Euclid and East 69th, with the help of a $3.5 million Jobs Ready Sites grant; earning a designation as an Ohio "Hub of Innovation and Opportunity" along with $250,000 in funding to implement an action plan for the Health Tech Corridor; seeing the expansion of longstanding businesses such as Pierre's Ice Cream; and spurring the addition of new businesses like Ziska Architects, which relocated from Solon to the historic Gifford House at 3047 Prospect Avenue.

MidTown Cleveland says it's no surprise that businesses are investing here, given the neighborhood's proximity to downtown Cleveland, University Circle and the Cleveland Clinic. Other reasons behind the growth of the area include access to talent and research at nearby institutions and opportunities to collaborate with world-class health care and academic institutions in technology development.

Source: MidTown Cleveland, Inc.
Writer: Lee Chilcote