The Cuyahoga County Economic Development Commission met for the first time last week, and while it didn't make any huge promises, it did emphasize a commitment to helping Greater Cleveland attract, nurture and maintain businesses.

To start, new county executive Ed FitzGerald announced $1 million in loans, including $800,000 toward a $27 million hotel in University Circle. On a smaller scale, the commission is also awarding an $85,000 loan to a Cleveland company focused on lowering heating costs. During the meeting, experts spoke on fostering entrepreneurship and building a global presence that will attract more entrepreneurs and businesses to the region.

No specific goals were set during this inaugural event of what's being called the 2011 Jobs Summit. But FitzGerald has previously talked about creating the Fourth Frontier, a $100 million fund for local businesses.

According to Article 7 of the new county charter developed last year, "The county shall have as a primary responsibility in the promotion and enhancement of the economic well-being and prosperity of the county and all of its residents... There shall be a Department of Development... which shall develop, direct and implement programs and activities...."

No word yet on when the commission will again meet.

SOURCE: Cuyahoga County Economic Development Commission
WRITER: Diane DiPiero