| | Job Creation and Retention- Our businesses are growing and profitable |
Strategic Priorities |
About this measure |
This measure shows the jobs projected to be created and retained through investment by Cuyahoga County and the actual jobs created and retained through investment by Cuyahoga County. Jobs projected to be created and retained through direct lending are reported for the quarter in which Cuyahoga County Council or the Board of Control authorizes a loan. Jobs projected to be created and retained through partner loans are reported for the quarter in which the partner closes a loan. Actual jobs created and retained through direct lending are reported as an annual point in time count for all loans with reporting requirements.
Data are reported by the Cuyahoga County Department of Development on a quarterly basis.
Why is this important? |
Jobs projected to be created and retained is a measure of how efficiently Cuyahoga County is investing its limited funds in loans to private business. While job creation and job retention are not the only goals of Cuyahoga County’s economic development lending, they are indicators of the amount of impact this lending has on the regional economy.
How are we making an impact? | |
Q1-22 saw some businesses come out of the COVID-19 pandemic environment; Cuyahoga County’s small business partners will begin to focus more on businesses that sustained their operations through the COVID-19 pandemic. As a result, regular reporting for Q1-22 was incomplete and will be updated in a future reporting period.
Q1-22 job creation retention number reflect the jobs projected to be created or retained because of the direct brownfield loan to MAGNET, Orlando Baking Company – Public Refrigerated Warehouse and Lincoln Electric.
MAGNET is a 501c3 non-profit consulting group tasked with growing the manufacturing industry in Northeast Ohio. Their services help start-ups thrive and assist small and medium sized companies transform with technology, innovation, and talent. The brownfield loan will help with the expansion to their new state-of-the-art facility in the Midtown neighborhood.
Located on Cleveland’s near east side, the Orlando Baking Company is a for-profit company. In 1904, part of Orlando Baking moved to Cleveland and re-established Old-World ways of baking European classics. Orlando is building a state-of-the-art cold storage facility in Opportunity Corridor.
For 125 years, Lincoln Electric has provided cutting-edge technology to residents and businesses throughout Cuyahoga County and beyond. Founded in 1895, Lincoln is a global manufacturer of welding products, arc welding equipment, oxy-fuel & plasma cutting equipment, and robotic welding systems.
Data Source |
Cuyahoga County Department of Development
Data table abbreviated due to number of measures. See Attachments for full data table.
Performance Target |
Jobs Created and Retained (Annual): 1,500
Jobs Projected to be Created or Retained - Quarterly Performance |
Jobs Projected to Be Created or Retained - Annual Performance |
Jobs Created and Retained - Annual Performance |
Measure Data | Last Calculated a day ago |