Regional Economy
The members of the Fund for Our Economic Future (the Fund), a philanthropic collaboration, have approved $3 million in funding to advance business development and job creation in Northeast Ohio, with the end goal of growing the regional economy so that all people benefit.
The recipients include:
Team NEO: a one-year award of up to $650,000 to support the advancement of a shared, regional economic competitiveness strategy, business development and economic research.
BioEnterprise: a two-year award of up to $800,000 to support its efforts to grow the bioscience cluster.
MAGNET: a two-year award of up to $900,000 for its PRISM initiative to help mid-size manufacturers with high-growth potential innovate and prosper.
JumpStart: a two-year award of up to $500,000 for its Scaleup Initiative to support high-growth potential companies; and a one-year award of up to $150,000 to support its startup network.
Get all the details on this announcement here.
The recipients include:
Team NEO: a one-year award of up to $650,000 to support the advancement of a shared, regional economic competitiveness strategy, business development and economic research.
BioEnterprise: a two-year award of up to $800,000 to support its efforts to grow the bioscience cluster.
MAGNET: a two-year award of up to $900,000 for its PRISM initiative to help mid-size manufacturers with high-growth potential innovate and prosper.
JumpStart: a two-year award of up to $500,000 for its Scaleup Initiative to support high-growth potential companies; and a one-year award of up to $150,000 to support its startup network.
Get all the details on this announcement here.
According to online mortgage resource HSH.com, a homeowner must earn $32,523 in order to own a home in Cleveland. The only city with a lower threshold was Pittsburgh, for which the figure was $31,134. The highest must-earn income for home ownership was $147,996 for San Francisco.
From HSH.com:
"HSH.com took the National Association of Realtors’ (NAR) 2015 fourth-quarter data for median-home prices and HSH.com’s 2015 fourth-quarter average interest rate for 30-year, fixed-rate mortgages to determine how much of your salary it would take to afford the base cost of owning a home - the principal, interest, taxes and insurance - in 27 metro areas.
We used standard 28 percent "front-end" debt ratios and a 20 percent down payment subtracted from the NAR’s median-home-price data to arrive at our figures. We've incorporated available information on property taxes and homeowner’s insurance costs to more accurately reflect the income needed in a given market."
Get all the details here.
From HSH.com:
"HSH.com took the National Association of Realtors’ (NAR) 2015 fourth-quarter data for median-home prices and HSH.com’s 2015 fourth-quarter average interest rate for 30-year, fixed-rate mortgages to determine how much of your salary it would take to afford the base cost of owning a home - the principal, interest, taxes and insurance - in 27 metro areas.
We used standard 28 percent "front-end" debt ratios and a 20 percent down payment subtracted from the NAR’s median-home-price data to arrive at our figures. We've incorporated available information on property taxes and homeowner’s insurance costs to more accurately reflect the income needed in a given market."
Get all the details here.
The Saint Luke’s Foundation recently awarded a grant to the Hebrew Free Loan Association (HFLA) of Northeast Ohio to provide interest free loans of up to $5,000 to the residents in the Mt. Pleasant neighborhood who are in need of home repair or funds to purchase side yards.
Qualifications include income that will allow repayment of the loan, a co-signer and quotes from an insured and bonded contractor. Loan checks will be written directly to the service provider. Perfect repayment of this loan will allow applicants to qualify for future interest free loans.
For additional information click here or call 216-378-9042.
Qualifications include income that will allow repayment of the loan, a co-signer and quotes from an insured and bonded contractor. Loan checks will be written directly to the service provider. Perfect repayment of this loan will allow applicants to qualify for future interest free loans.
For additional information click here or call 216-378-9042.
The YMCA's 40,000 square feet of premium health and wellness space is finally set to open at its new home in the Galleria.
Current members are invited to the two-story Parker Hannifin Downtown YMCA starting March 21, with a grand opening celebration slated for March 29, says marketing director Amanda Lloyd.
Amenities at the much-anticipated facility include over 70 pieces of cardio and strength equipment and a three-lane lap pool. Members can also enjoy group exercise studios, a spinning area, message therapy rooms, and a health clinic complete with an on-site physician.
Pilates, acupuncture, hot yoga and biometric screenings will be among the programming available, notes Lloyd. The new YMCA is expected to house twice as many fitness devotees as its current location at East 22nd Street and Prospect Avenue, which holds nearly 3,250 members.
The Prospect location will close March 20, meaning members won't have a delay in service, Lloyd says. The old building, sold to a Texas-based company last year, will be maintained as private student housing.
All of the YMCA's functions will move to the Galleria, where the gym will take up a former retail space. The organization has raised $7 million for a project budgeted at $12 million, with $3 million coming from Parker Hannifin. YMCA will tap grant money and individual donations for the balance of the financial package. The project is also set to employ 40 full-time and part-time workers, including personal trainers, lifeguards and housekeepers.
Membership enrollment will cost $50 monthly for young professionals ages 18 to 29, $65 for adults and $105 for a household.
YMCA officials believe the gym can be an anchor for a downtown population projected by Downtown Cleveland Alliance to balloon to 18,000 within the next two years.
"There are some vacant storefronts (in the Galleria), but around us there's a good core of corporations and people living downtown," says Lloyd. "Moving to this space seemed like the perfect fit."
Current members are invited to the two-story Parker Hannifin Downtown YMCA starting March 21, with a grand opening celebration slated for March 29, says marketing director Amanda Lloyd.
Amenities at the much-anticipated facility include over 70 pieces of cardio and strength equipment and a three-lane lap pool. Members can also enjoy group exercise studios, a spinning area, message therapy rooms, and a health clinic complete with an on-site physician.
Pilates, acupuncture, hot yoga and biometric screenings will be among the programming available, notes Lloyd. The new YMCA is expected to house twice as many fitness devotees as its current location at East 22nd Street and Prospect Avenue, which holds nearly 3,250 members.
The Prospect location will close March 20, meaning members won't have a delay in service, Lloyd says. The old building, sold to a Texas-based company last year, will be maintained as private student housing.
All of the YMCA's functions will move to the Galleria, where the gym will take up a former retail space. The organization has raised $7 million for a project budgeted at $12 million, with $3 million coming from Parker Hannifin. YMCA will tap grant money and individual donations for the balance of the financial package. The project is also set to employ 40 full-time and part-time workers, including personal trainers, lifeguards and housekeepers.
Membership enrollment will cost $50 monthly for young professionals ages 18 to 29, $65 for adults and $105 for a household.
YMCA officials believe the gym can be an anchor for a downtown population projected by Downtown Cleveland Alliance to balloon to 18,000 within the next two years.
"There are some vacant storefronts (in the Galleria), but around us there's a good core of corporations and people living downtown," says Lloyd. "Moving to this space seemed like the perfect fit."
Didn't Fresh Water just report on the benefits of the Ohio Motion Picture Tax Credit? Why, yes, we did. And then this pops into our feed from MoviePilot:
"They didn’t share any 'Captain America: Civil War' spoilers, but directors Joe and Anthony Russo told fans that 'Avengers: Infinity War' could land in Cleveland.
'It’s on the list,' said Anthony.
The reveal took place Saturday during a Wizard World Comic-Con Cleveland panel titled 'Let’s Shut Down Some Streets: Bringing the Avengers, Captain America and the Russo Brothers to Cleveland.'
The Russos, who grew up in Cleveland and graduated from Case Western Reserve University, were joined by Ivan Schwarz, director of the Greater Cleveland Film Commission. The trio discussed how the region could grow its production slate and how it could attract more features to Northeast Ohio.
The first step, said Schwarz, was getting the Ohio legislature to raise the motion picture tax incentive from $25 million a year to $75 million. That’s legislation will go before Ohio lawmakers this spring."
Get the whole story here.
A tip of the hat to Tom Tenant, who champions films and filmmaking in the Midwest - primarily Cleveland, Pittsburgh and Detroit (but mostly Cleveland), for this great tip. Readers can follow his musings on Midwest Movie Maker.
"They didn’t share any 'Captain America: Civil War' spoilers, but directors Joe and Anthony Russo told fans that 'Avengers: Infinity War' could land in Cleveland.
'It’s on the list,' said Anthony.
The reveal took place Saturday during a Wizard World Comic-Con Cleveland panel titled 'Let’s Shut Down Some Streets: Bringing the Avengers, Captain America and the Russo Brothers to Cleveland.'
The Russos, who grew up in Cleveland and graduated from Case Western Reserve University, were joined by Ivan Schwarz, director of the Greater Cleveland Film Commission. The trio discussed how the region could grow its production slate and how it could attract more features to Northeast Ohio.
The first step, said Schwarz, was getting the Ohio legislature to raise the motion picture tax incentive from $25 million a year to $75 million. That’s legislation will go before Ohio lawmakers this spring."
Get the whole story here.
A tip of the hat to Tom Tenant, who champions films and filmmaking in the Midwest - primarily Cleveland, Pittsburgh and Detroit (but mostly Cleveland), for this great tip. Readers can follow his musings on Midwest Movie Maker.
The Ohio Motion Picture Tax Credit has created the equivalent of 1,729 full-time jobs since 2011 and generated more than $400 million in economic impact - and Northeast Ohio has had a starring role in all of it.
While summer may feel far away, college students will be returning home with their requisite manbuns and proclivity to wear slippers as shoes in a blink. They will soon join area high school juniors and seniors, who are already eyeing residential couches with plans to become one with them from June through August.
It does not have to be this way.
On Sunday March 6 and Saturday March 19 from 11 a.m. to 2 p.m., the Cleveland Metroparks invites those students, along with anyone interested in seasonal employment, to attend a job fair. The two events will be held at Stillwater Place, 3900 Wildlife Way in the Metroparks Zoo. Opportunities include food service jobs, camp counselor slots, maintenance positions and many others.
Complete details and registration information are available here.
It does not have to be this way.
On Sunday March 6 and Saturday March 19 from 11 a.m. to 2 p.m., the Cleveland Metroparks invites those students, along with anyone interested in seasonal employment, to attend a job fair. The two events will be held at Stillwater Place, 3900 Wildlife Way in the Metroparks Zoo. Opportunities include food service jobs, camp counselor slots, maintenance positions and many others.
Complete details and registration information are available here.
Joe Calabrese, CEO and General Manager of the Greater Cleveland Regional Transit Authority (RTA) advocated for more transit funding in testimony on Feb. 16 at the Statehouse.
"RTA is the largest public transportation agency in Ohio. My employees, who reside in 16 of Ohio counties, serve approximately 50 million customers each year in Cuyahoga and several neighboring counties," said Calabrese in his address.
"Public transit in Ohio is a $900 million industry that supports many manufacturers, suppliers and jobs.
Public transit gets workers to work, students to school, connects important destinations, drives economic development and provides mobility to many Ohioans who have no other mobility option due to economic realities or disabilities."
Read his comments in their entirety here.
"RTA is the largest public transportation agency in Ohio. My employees, who reside in 16 of Ohio counties, serve approximately 50 million customers each year in Cuyahoga and several neighboring counties," said Calabrese in his address.
"Public transit in Ohio is a $900 million industry that supports many manufacturers, suppliers and jobs.
Public transit gets workers to work, students to school, connects important destinations, drives economic development and provides mobility to many Ohioans who have no other mobility option due to economic realities or disabilities."
Read his comments in their entirety here.
A multi-purpose trail planned for the City of Independence will serve as a connecting point with the Towpath Trail while also catalyzing the region economically, planners say.
Construction of Hemlock Trail is scheduled for the first quarter of 2017 following a $500,000 grant the project received from the Ohio Department of Natural Resources Clean Ohio Trails fund. The money will cover a portion of the venture while Independence officials make plans to raise the remaining $1.1 million, says city engineer Donald Ramm.
Partner group West Creek Conservancy, which helped with the grant effort, has been approaching trail advocates for single donations. Meanwhile, the city will call on local foundations to garner additional dollars, says Ramm.
Urgency is the watchword moving forward, as the ODNR grant must be used within 18 months of signing. Engineering for the $3.4 million path began last year and should be completed by the end of 2016. Construction bidding will commence early next year, with work starting in spring 2017. If all goes as planned, the trail will open to the public in 2018.
When complete, the 1.7-mile Hemlock Trail will begin at the intersection of Brecksville Road and Selig Drive, ending at the Towpath Trail connection on Canal Road in Valley View. That linkage is significant for a population base that currently has no easy means of accessing the iconic 85-mile track, Ramm says.
"We're excited about it," he says. "Hemlock Trail will be a major link for our residents to get from the center of town to Towpath Trail."
The 10-foot-wide path, designed to cross through private, industrial and national park properties, will have room for both bikers and joggers. Four or five bridges will be built along the trail's snake-like course, along with space for up to 15 parking spots.
Giving Independence residents a new place to walk, run and bike can have a positive impact on local economic development as well, believe supporters. Officials view Hemlock Trail as one piece of an amenities package that can attract people from outside the region and bolster a downtown redevelopment plan now in the preliminary planning stage.
"As a community asset, the path is going to be significant to the city," says Ramm.
Construction of Hemlock Trail is scheduled for the first quarter of 2017 following a $500,000 grant the project received from the Ohio Department of Natural Resources Clean Ohio Trails fund. The money will cover a portion of the venture while Independence officials make plans to raise the remaining $1.1 million, says city engineer Donald Ramm.
Partner group West Creek Conservancy, which helped with the grant effort, has been approaching trail advocates for single donations. Meanwhile, the city will call on local foundations to garner additional dollars, says Ramm.
Urgency is the watchword moving forward, as the ODNR grant must be used within 18 months of signing. Engineering for the $3.4 million path began last year and should be completed by the end of 2016. Construction bidding will commence early next year, with work starting in spring 2017. If all goes as planned, the trail will open to the public in 2018.
When complete, the 1.7-mile Hemlock Trail will begin at the intersection of Brecksville Road and Selig Drive, ending at the Towpath Trail connection on Canal Road in Valley View. That linkage is significant for a population base that currently has no easy means of accessing the iconic 85-mile track, Ramm says.
"We're excited about it," he says. "Hemlock Trail will be a major link for our residents to get from the center of town to Towpath Trail."
The 10-foot-wide path, designed to cross through private, industrial and national park properties, will have room for both bikers and joggers. Four or five bridges will be built along the trail's snake-like course, along with space for up to 15 parking spots.
Giving Independence residents a new place to walk, run and bike can have a positive impact on local economic development as well, believe supporters. Officials view Hemlock Trail as one piece of an amenities package that can attract people from outside the region and bolster a downtown redevelopment plan now in the preliminary planning stage.
"As a community asset, the path is going to be significant to the city," says Ramm.