Regional Economy

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knowta exceeds goal for follow-on funding, will improve and expand
Knowta recently raised more than $300,000 in angel investments, exceeding its goal of $250,000 to roll out the next phase of its software solution. The LaunchHouse company offers free or discounted printing at libraries in exchange for accepting advertising on the bottom of the printed pages. A percentage of the revenue generated from the full-color ads is then returned to the libraries to offset their costs.
 
Initially, founder Ryan Clark and his four... Read more >
endowment fund to boost midtown group's good works
The two square miles of real estate between downtown Cleveland and University Circle are bursting with development. A local nonprofit has established a fund to ensure that work continues to flourish.

On June 20, economic development corporation MidTown Cleveland, Inc. announced the creation of the MidTown Cleveland, Inc. Endowment Fund at the Cleveland Foundation. The fund, under the foundation's guidance, proposes to build a sustainable revenue source to secure conti... Read more >
pgh praises cle healthline, wants one of its own
In a Pittsburgh Post-Gazette story titled “Cleveland’s HealthLine bus route could be a model for Pittsburgh,” writer Jon Schmitz praises Cleveland for its dedicated route that connects downtown with the Cleveland Clinic.
 
The new line transformed a 46-minute trip along the nine-mile corridor into a route with its own reserved lanes, and through traffic lights that are programmed to give the busses priority. Fares are paid via vending machines at the... Read more >
eaton corp praised for green building
In a GreenBiz story titled “Megatrends: The power behind Eaton’s global green growth,” writer Anna Clark explores Cleveland’s history as a major manufacturing center since the time of John D. Rockefeller and its subsequent decline. 
 
But one of the city’s largest companies, Eaton Corp., is a proponent for efficiency, reliability, safety, and sustainability that is leading to a potential “green renaissance” in the Rust Be... Read more >
writer discovers cleveland is nothing like stereotypes
In a Post-Searchlight story titled “Cleveland -- from gritty to gleaming,” Dan Ponder shares his pleasant surprise upon discovering that Cleveland is far from the dark and dismal stereotype so prevalent among the uninformed.
 
Ponder writes how he came to the city on a dreary and rainy day, which only served to reinforce his opinion of what our city is like. But once he arrived downtown from his drive from the airport, those opinions quickly changed.
&... Read more >
bizdom and launchhouse team up accelerator programs for region's gain
Both Bizdom and LaunchHouse received hundreds of entrepreneurs applying for their respective accelerator programs this year. LaunchHouse received a record 115 applications for 10 spots in its 2013 LHX accelerator program, while Bizdom already has seen more than 100 applications this year from all over the country.

Both organizations each received $200,000 from Ohio’s New Entrepreneurs (ONE) Fund earlier this year. So, Bizdom and LaunchHouse decided to collaborate in... Read more >
crowdentials takes the legwork out of equity crowdfunding compliance
As an entrepreneurship/business management senior at Ohio University, and the president of the school’s Entrepreneurship Club, Richard Rodman has started two successful companies during his studies. Most recently, he noticed the need for some guidance in the crowdfunding trend.

So Rodman first started 530Funds in November 2012, a search engine and news site for the crowdfunding industry. “It was really hard to sift through Google to find the right platform,&rd... Read more >
fifth third to roll mobile bank into underserved communities
Fifth Third Bank wants Northeast Ohioans who might be anxious about walking into a financial institution to get on the bus.

The bank has partnered with local community organizations to bring the Financial Empowerment Mobile, or eBus, to nine locations in the region from June 19 to June 29. The eBus is a rolling classroom providing credit counseling, financial literacy, home ownership assistance, and access to banking services directly to where people live, says Rob Soroka... Read more >
zuga medical receives fda approval, jumpstart investment for dental implant system
Zuga Medical, a medical device company, recently received a $250,000 investment from JumpStart to launch its dental implant system. In April Zuga received FDA approval for its system, which allows a general dentist to perform implants using a screw, a procedure previously done only by oral surgeons.
 
“Our patent-pending technology makes it simpler, easier and more cost-effective for both the dentist and the patient,” says Zuga CEO Steve Cornelius, who met... Read more >
award-winning chef proud of his cleveland roots
In an Aspen Times article titled “Hello, Cleveland! Best New Chef Jason Vincent represents hometown,” Stewart Oksenhorn writes that while Cleveland may have its own culinary superstars living and working in the city, it also has some that profess their love for the great city while sharing their talents elsewhere.
 
“Vincent also is a huge fan of his hometown, Cleveland, going so far to call it the greatest city in the country. Vincent is aware that ... Read more >
nytimes writer reflects on 'big five' orchestra designation
In a New York Times story titled “The Big Five Orchestras No Longer Add Up,” James R. Oestreich explores days of old when the newspaper would refer to the premier orchestras of the day (Boston Symphony Orchestra, Chicago Symphony Orchestra, Cleveland Orchestra, New York Philharmonic, and the Philadelphia Orchestra) as the "Big Five."
 
Other city’s representatives, namely the San Francisco Symphony, would argue against the term claiming it ... Read more >
local writer questions cleveland development boom
In a Rust Wire blog post titled “Questioning Cleveland’s Undying Faith in Development,” local writer Angie Schmitt discusses the appropriation of funding for public projects all in the name of “development.”
 
“We’re just emerging from the biggest real estate bust in a generation, but the lust for development doesn’t seem to have abated. Economic development officials have taken to touting how downtown Cleveland, or Clev... Read more >
great lakes' efforts to brew 5000-yr-old brew covered by times
In a New York Times feature titled "For Its Latest Beer, a Craft Brewer Chooses an Unlikely Pairing: Archaeology," writer Steven Yaccino covers the efforts by Great Lakes Brewing Co. to replicate a 5,000-year-old Sumerian beer.

"By contemporary standards, it would have been a spoiled batch here at Great Lakes Brewing Company, a craft beer maker based in Ohio, where machinery churns out bottle after bottle of dark porters and pale ales," the article say... Read more >
next city leaders ask if cle, other cities can diversify beyond the 'cupcake economy'
Young urbanist leaders who were in Cleveland this week for Next City's annual Vanguard conference were asked a provocative question about this city's future. With new development activity happening in neighborhoods across a city that still is devastatingly poor, how can we do a better job of ensuring that these projects will benefit our poorest residents?

"I'm a little concerned that as we build projects, we're creating a city for yuppies and a city f... Read more >
dan gilbert pledges $1.5m to lure top grads
In a The Detroit News business section feature titled “Gilbert pledges $1.5M to bring college grads to Detroit, Cleveland,” Michael Martinez shares how Quicken Loans founder and chairman Dan Gilbert has pledged big bucks to lure top college grads from around the country to work in downtown Detroit and Cleveland over the next five years.
 
“We’re thrilled to bring a host of the country’s top college graduates to support Dan Gilbert’s... Read more >
cleveland among '20 best beer towns in usa'
In this feature from the travel publication Matador, Cleveland is hailed as one of the 20 best beer towns in America.
 
"Craft beer in America is more popular than ever," the article states at the outset. Not only that, it's becoming increasingly common for travelers to book trips around craft beer and brewery tours.
 
Cleveland is fast becoming a beer-lover's destination thanks to old and new breweries.
 
"Across the r... Read more >
writer shares his love for cle as a vacation destination
In a Huffington Post Travel blog post titled “Instagram Tour: Five Reasons to Heart the Rust Belt, Courtesy of Cleveland,” Jason Clement highlights his recent mini vacation/sabbatical to Cleveland.
 
“Long story short: I get Rust Belt cities... and I think they get me. While a blanket on the beach is certainly nice, I look to places like Cleveland when I need a creative reboot, not just a cocktail with an umbrella in it. So before I pack my bags (aga... Read more >
cle discussed in book excerpt on how cities fix broken networks
In a Next City feature titled “The Post-Hero Economy,” writers Jennifer Bradley and Bruce Katz share an edited excerpt from their upcoming book "The Metropolitan Revolution."
 
While the book (and Next City feature) does not solely focus on Cleveland, it does pay a fair amount of attention to our city when it comes to economic development.
 
In an effort to boost the economy the Cleveland Plain Dealer offered a solution. “Talk ... Read more >
techpint lets entrepreneurs and investors share ideas over beers
When Paul McAvinchey moved to Cleveland in April 2012 with his wife Rebecca to lead product innovation for MedCity Media, the seasoned entrepreneur was impressed with the entrepreneurial community here.

“When I got here, I was really excited to see all the startup activity going on,” McAvinchey says. But the native of County Tipperary, Ireland, who also lived in Chicago, Munich and Dublin, was surprised that there were no informal events bringing all the start... Read more >
positively cleveland will train hospitality staff, locals to roll out red carpet for visitors
With downtown Cleveland seeing more than $2 billion in travel-related development, we must step up and make sure visitors are provided with the best possible service. We want them to spread the word when they get home about how great Cleveland is.

That was the message from David Gilbert, CEO of Positively Cleveland, at the organization's recent annual meeting. Based on recent research, the organization has determined that the city has "a communication gap" r... Read more >