| 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 capital expenditures leveraged.
Data are reported by the Cuyahoga County Department of Development on a quarterly basis.
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? | |
Direct County lending authorized in the third quarter of 2019 supported the retention and growth of the national headquarters of Redwood Living, a major national developer of moderate income rental housing. An existing vacant office building will receive much needed modernization to support current operations. Retaining and growing the national headquarters adds new well paid headquarters jobs and preserves existing headquarters jobs.
Investment in Business Attraction, Growth and Retention - Quarterly Performance |
Investment in Business Attraction, Growth, and Retention & Leveraged Dollars - Annual Performance |
Data Source |
Cuyahoga County Department of Development
Measure Data |
| Period | | Status | Direct Investment | Direct Investment YTD | Capital Expenditures Leveraged | Capital Expenditures Leveraged YTD |
|---|---|---|---|---|---|---|
| 2016 | | In Progress | $ 14,122,092.00 | $ 14,122,092.00 | $ 136,627,438.00 | $ 136,627,438.00 |
| 2017 | | In Progress | $ 8,730,000.00 | $ 8,730,000.00 | $ 300,349,343.00 | $ 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 | $ 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 | | In Progress | $ 2,650,000.00 | $ 3,100,000.00 | $ 77,417,396.00 | $ 80,482,396.00 |
| Q4-19 | | Not Defined | $ 3,100,000.00 | $ 80,482,396.00 |