| | Economic Impact of County Investments- Our region is economically competitive |
Strategic Priorities |
About this measure |
This measure captures the economic impact resulting from strategic investments the County has made. Economic impact is the effect some sort of change, such as a new venue, policy, or event, can have on the local economy. Impact is measured using the multiplier effect, which makes it possible to estimate how the direct impact, or expenditures directly associated with an event or operation, ripples through the local economy. Inclusion of both indirect impact, or purchases necessary to produce the event or operation, and induced impact, or the results of increased income spurred by the direct and indirect spending, (collectively referred to as multiplier impact) account for the full economic impact of County investments in the community.
Data are reported by the Cuyahoga County Office of Innovation and Performance.
Why is this important? |
Cuyahoga County regularly invests in local events and operations to generate economic activity. The impact of these events can be numerous including, but not limited to, increased tax revenues that support County services, increased sales generation for local businesses, and media attention that helps create a positive image of Cuyahoga County.
How are we making an impact? | |
HUNTINGTON CONVENTION CENTER/GLOBAL CENTER FOR HEALTH INNOVATION
Cuyahoga County spearheaded the development of the Huntington Convention Center of Cleveland and the Global Center for Health Innovation, both opened in 2013. In 2018, the facilities hosted 34 conventions and tradeshows that brought 45,089 delegates from outside the local metropolitan area and used 74,897 room-nights in downtown hotels. Over the same timeframe, the facility hosted 17 conferences and large sporting events that brought an additional 44,899 visitors from outside the area and used another 19,519 room-nights. The total economic impact for 2018 was $171 million, $54 million of which was direct expenditures and $117 million was indirect and induced expenditures.
CUYAHOGA COUNTY AIRPORT
Cuyahoga County has owned and operated the Cuyahoga County Airport, located on the border of Cuyahoga and Lake counties, since 1946. The airport’s operation is funded by tenant ground leases, fixed annual rents, hangar fees, and fees on fuel sales, aircraft landing, and parking. A 100-acre office/industrial park is located on airport-owned land, and includes office space, and light manufacturing and service companies housed in five buildings. There currently are more than 1,200 people employed at the various businesses located at County Airport. In 2013, the most recent year for which data are available, the total impact on payroll was $62 million and the total impact on business sales was $200 million. These figures encompass the impact of airport operations and administration, airport tenants, visitor spending, and off-site, air dependent businesses.
Future data reported through this measure will include both annual updates for both events and operations that regularly measure performance as well as data from one-time events.
Huntington Convention Center/Global Center for Health innovation |
Cuyahoga County Airport |
Data Source |
Convention Center/GCHI: Cuyahoga County Convention Facilities Development Corporation
Cuyahoga County Airport: Cuyahoga County Airport (CGF) Final Environmental Assessment
Measure Data |
| Period | | Status | Direct Impact - CC/GCHI | Indirect Impact - CC/GCHI | Induced Impact - CC/GCHI | Direct Impact (Payroll) - Airport | Multiplier Impact (Payroll) - Airport | Direct Impact (Output) - Airport | Multiplier Impact (Output) - Airport |
|---|---|---|---|---|---|---|---|---|---|
| 2016 | | Not Defined | |||||||
| 2017 | | Not Defined | |||||||
| 2018 | | In Progress | $ 53,715,243.00 | $ 53,046,810.00 | $ 63,829,823.00 | $ 37,349,000.00 | $ 24,505,000.00 | $ 135,593,000.00 | $ 64,824,000.00 |
| 2019 | | Not Defined |