Economic Development 

The Cleveland Foundation proactively seeks initiatives that build economy-sustaining industries, encourage entrepreneurship and job creation, and foster a thriving urban core.

The foundation’s economic development initiatives target five areas:

Advanced energy

Focus: The Cleveland Foundation supports and promotes efforts to develop an advanced energy industry in Ohio though research, grantmaking, and public advocacy.

What we’re doing: Educating and informing the public and key decision makers.

• The foundation’s board recently granted $200,000 to the Cuyahoga County Commissioners to help fund a feasibility study around the installation of electricity-producing wind turbines in Lake Erie. The project was proposed last year by the Cuyahoga Regional Energy Development Task Force.

Read more about the foundation’s advanced energy initiatives.

Emerging entrepreneurs

Focus: We aim to create an environment welcoming to innovators and early-stage companies.

What we’re doing: Providing grants to civic-minded entrepreneurs.

• The foundation maintained its support for the Civic Innovation Lab in 2006 with a $500,000 grant. Now in its fourth year, the Lab offers mentorship, training, and funding of up to $30,000 for ideas that have a measurable economic impact on Greater Cleveland.

Read more about the Civic Innovation Lab.

International business attraction

Focus: If our city is to compete in a global economy, it must attract global businesses. 

What we’re doing: Actively working to lure foreign firms to Cleveland, and identifying opportunities for businesses and major institutions in our city to partner with foreign companies, universities, and organizations.

• The Cleveland Foundation hired George Delgado as its first director of international relations. An experienced international business executive who speaks four languages, Delgado hopes to bridge language and cultural barriers that impede Cleveland businesses from looking abroad.

Regional collaboration

Focus: The Cleveland Foundation advocates regional collaboration to address shared challenges and opportunities.

What we’re doing: Supporting a regional effort to reshape Northeast Ohio’s economy.

• The foundation approved a $4 million grant for fourth-year support of the Fund for Our Economic Future, an unprecedented collaboration among more than 100 philanthropic entities united around economic development. Using results from Voices & Choices public meetings, the Fund is partnering with business, political, labor, academic, and civic leaders to implement Advance Northeast Ohio, a regional plan to accelerate economic development progress.

Read more about Advance Northeast Ohio.

A vibrant inner city

Focus: We strive to create a vibrant urban core – city neighborhoods where people wish to live, work, play, and visit.

What we’re doing: Providing funding for projects aimed at improving Cleveland’s neighborhoods.

• The foundation supported ShoreBank Enterprise Group Cleveland with a $525,000 grant for its Investing in Cleveland’s East Side Neighborhoods initiative. SEC helps Cleveland neighborhoods thrive through an investment fund and a business incubator based in Glenville. In addition, an employee recruitment and support services program links neighborhood residents with new job opportunities generated by ShoreBank-supported businesses.

  See the foundation’s latest economic development grants.