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Investment in Business Attraction, Growth, and Retention- Our businesses are growing and profitable |
Strategic Priorities |
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2.2 Participate in collaborative efforts to attract, retain and grow businesses
- Our businesses are growing and profitable
About this measure |
This measure shows the total amount of county dollars invested in business attraction, growth, and retention on an annual and quarterly basis through direct lending. Data is also reported on the capital expenditure leveraged annually. Current and historical data reported on the County’s investment in business attraction, growth, and retention through direct lending and capital expenditure leveraged is provided by the Cuyahoga County Department of Development.
Why is this important? |
County funds invested in business attraction, growth, and retention reflects the work of the Department of Development to identify projects in need of funding that cannot be obtained from other sources and fits the parameters of Cuyahoga County’s established economic development loan programs. A project may warrant economic development assistance if it results in certain direct public benefits, including but not limited to job creation and retention, capital investment, physical improvement of property/blight elimination, provision of access to needed services currently unavailable in a community, or increased tax revenues to municipalities or county.
How are we making an impact? |
Properly underwritten, business attraction, growth, and retention loans leverage significant additional private sector resources to increase economic activity and create and retain jobs in Cuyahoga County. Cuyahoga County will continue to loan funds to businesses for attraction, growth, and retention, up to the amount budgeted annually. In 2018, the County invested $14.8 million through direct economic development loans leveraging over $250 million in additional private and public investment.
Reporting Agency |
Cuyahoga County Department of Development
Investment in Business Attraction, Growth and Retention - Current Performance |
Investment in Business Attraction, Growth, and Retention & Leveraged Dollars - Historical Performance |
Measure Data |
| Period |
|
Status | Actual | Target | Direct Investment | Capital Expenditure Leveraged |
|---|---|---|---|---|---|---|
| 2016 |
|
Not Defined | $ 14,122,092.00 | $ 14,122,092.00 | $ 136,627,438.00 | |
| 2017 |
|
Not Defined | $ 8,730,000.00 | $ 8,730,000.00 | $ 300,349,343.00 | |
| Q1-18 |
|
Not Defined | $ 4,300,000.00 | $ 4,300,000.00 | ||
| Q2-18 |
|
Not Defined | $ 0.00 | $ 4,300,000.00 | ||
| Q3-18 |
|
Not Defined | $ 500,000.00 | $ 4,800,000.00 | ||
| Q4-18 |
|
In Progress | $ 10,000,000.00 | $ 17,000,000.00 | $ 14,800,000.00 | $ 261,079,879.00 |
| Q1-19 |
|
In Progress | $ 240,000.00 | $ 240,000.00 | $ 360,000.00 | |
| Q2-19 |
|
Not Defined | $ 240,000.00 | |||
| Q3-19 |
|
Not Defined | $ 240,000.00 | |||
| Q4-19 |
|
Not Defined | $ 240,000.00 |