| 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 are also reported on the capital expenditure leveraged annually. Current and historical data reported on the County’s investment activities are provided by the Cuyahoga County Department of Development.
Why is this important? |
County funds invested in business attraction, growth, and retention reflect 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 revenue to municipalities or the 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 addition to the few projects approved for funding in the 1st and 2nd quarters of 2019, the Department of Development has a “pipeline” of pending loans, most if not all of which will be ready for funding approval by the end of calendar year 2019. These pending loans are estimated to total up to $16,500,000 of additional authorized direct County lending by the end of 2019, leveraging an additional $939,500,000 of private investment.
Reporting Agency |
Cuyahoga County Department of Development
Investment in Business Attraction, Growth and Retention - Quarterly Performance |
Investment in Business Attraction, Growth, and Retention & Leveraged Dollars - Annual Performance |
Measure Data |
| Period | | Status | Actual | Direct Investment YTD | Capital Expenditure Leveraged |
|---|---|---|---|---|---|
| 2016 | | In Progress | $ 14,122,092.00 | $ 14,122,092.00 | $ 136,627,438.00 |
| 2017 | | In Progress | $ 8,730,000.00 | $ 8,730,000.00 | $ 300,349,343.00 |
| Q1-18 | | In Progress | $ 4,300,000.00 | $ 4,300,000.00 | |
| Q2-18 | | In Progress | $ 0.00 | $ 4,300,000.00 | |
| Q3-18 | | In Progress | $ 500,000.00 | $ 4,800,000.00 | |
| Q4-18 | | In Progress | $ 10,000,000.00 | $ 14,800,000.00 | $ 261,079,879.00 |
| Q1-19 | | In Progress | $ 240,000.00 | $ 240,000.00 | $ 360,000.00 |
| Q2-19 | | In Progress | $ 210,000.00 | $ 450,000.00 | $ 2,705,000.00 |
| Q3-19 | | Not Defined | $ 450,000.00 | ||
| Q4-19 | | Not Defined | $ 450,000.00 |