| Cuyahoga County Economic Development Plan- Our region is economically competitive |
Strategic Priorities |
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1.2 Lead the Cuyahoga County Economic Development Commission and implement its five-year economic development plan
- Our region is economically competitive
About this measure |
This measure provides updates on major milestones and anticipated next steps associated with the Cuyahoga County Economic Development Commission’s Five-Year Economic Development Plan. The plan lays out strategies and objectives for all regional economic development actors. The plan has been updated annually as required by the Cuyahoga County Charter.
Updates are provided by the Cuyahoga County Department of Development on a quarterly basis.
Why is this important? |
Economic development programs support business growth and real-estate development projects, catalyzing well-paying jobs and leveraging outside capital investment.
Performance Target |
This page is a milestone measure, meaning updates take the form of qualitative, project-based narratives to provide additional details related to core County programs and services. Measure performance is impacted by a number of factors, including funding levels, strategic priorities, community need, and policy decisions made at the federal, state, and local level. Performance targets are not set for milestone measures, but timely reporting of updates is important.
How are we making an impact? | |
Several of Cuyahoga County's strategies for economic development advanced in the fourth quarter of 2020 despite the unprecedented economic impact of COVID-19. Small business and innovation support reached over 1,500 Cuyahoga County small businesses, many through grants made to help cover their lost revenue and added costs due to COVID-19. This support was delivered through our small business support partners with a strong focus on equity - over half the assisted businesses are minority owned.
Funding was committed to an Opportunity Zone investment fund, Arctaris, which will make both debt and equity investments in businesses with positive social impact located in strategically selected census tracts that have both distress and opportunity for economic growth.
Regional marketing to support recovery from COVID-19 gained momentum as Cuyahoga County engaged with large and small organizations, ranging from Team NEO and Destination Cleveland to the millennial attraction/retention organization Engage! Cleveland to carry out focused campaigns to attract new residents and businesses.