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 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, awarding the organization $150,000 for operations, grantmaking, and planning. 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.
- Writing in the Council on Foundations' online "Thought>Action>Impact" journal, our Director of International Relations Jorge Delgado describes the Cleveland Foundation's approach to international relations.
Read more about the foundation's work in international business attraction.
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.
- Team NEO, the primary business attraction organization in the 16-county “Cleveland Plus” region, received $1 million to bolster its efforts to bring international companies to the area. Much of the work will focus on emerging industries in Northeast Ohio, including medical devices and advanced energy. Targeted countries include Germany, Spain, and other European Union nations; China; and Canada.
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.
Shilpa Kedar
Program Director for Economic Development
Jumpstart, a Cleveland Foundation grantee, helps accelerate the development of high-potential, early-stage businesses.
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Cleveland's NASA Glenn Research Center is the only NASA facility north of the Mason-Dixon Line.