| 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 or 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? | |
Due to the impact of COVID-19 several projects in Cuyahoga County's direct lending pipeline were delayed. No loans were approved in Q4-20. However, two major real estate projects moved forward towards potential loan approval in early 2021. Additionally, Development staff are investigating other types of direct lending the County can do in 2021 to more fully support the growth of minority owned companies. This would supplement our traditional fixed asset (i.e., equipment) and real estate business growth lending.
Performance Target |
Direct Investment in Business Attraction, Growth, and Retention (Annual): $12,000,000
Capital Expenditures Leveraged (Annual): $100,000,000
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
Data table abbreviated due to number of measures. See Attachments for full data table.
Measure Data | Last Calculated 4 minutes ago |
| Period | | Status | Direct Investment | Direct Investment - YTD | Direct Investment - Target | Capital Expenditures Leveraged | Capital Expenditures Leveraged - YTD | Capital Expenditures Leveraged - Target |
|---|---|---|---|---|---|---|---|---|
| 2016 | | Not Defined | $ 14,122,092.00 | $ 14,122,092.00 | $ 136,627,438.00 | $ 136,627,438.00 | ||
| 2017 | | Not Defined | $ 8,730,000.00 | $ 8,730,000.00 | $ 300,349,343.00 | $ 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 | | Not Defined | $ 10,000,000.00 | $ 14,800,000.00 | $ 17,000,000.00 | $ 261,079,879.00 | $ 261,079,879.00 | |
| Q1-19 | | Not Defined | $ 240,000.00 | $ 240,000.00 | $ 360,000.00 | $ 360,000.00 | ||
| Q2-19 | | Not Defined | $ 210,000.00 | $ 450,000.00 | $ 2,705,000.00 | $ 3,065,000.00 | ||
| Q3-19 | | Not Defined | $ 2,650,000.00 | $ 3,100,000.00 | $ 77,417,396.00 | $ 80,482,396.00 | ||
| Q4-19 |  | Target Reached | $ 900,000.00 | $ 4,000,000.00 | $ 4,000,000.00 | $ 9,430,000.00 | $ 89,912,396.00 | $ 88,000,000.00 |
| Q1-20 |  | Target Not Reached | $ 16,928,175.00 | $ 16,928,175.00 | $ 24,000,000.00 | $ 352,681,174.00 | $ 352,681,174.00 | $ 400,000,000.00 |
| Q2-20 | | Making Progress Toward Target | $ 3,714,125.00 | $ 20,642,300.00 | $ 24,000,000.00 | $ 22,137,577.50 | $ 374,818,751.50 | $ 400,000,000.00 |
| Q3-20 | | Making Progress Toward Target | $ 400,000.00 | $ 21,042,300.00 | $ 24,000,000.00 | $ 0.00 | $ 374,818,751.50 | $ 400,000,000.00 |
| Q4-20 | | Making Progress Toward Target | $ 0.00 | $ 21,042,300.00 | $ 24,000,000.00 | $ 0.00 | $ 374,818,751.50 | $ 400,000,000.00 |
| Q1-21 | | Making Progress Toward Target | $ 1,000,000.00 | $ 1,000,000.00 | $ 3,000,000.00 | $ 34,326,246.00 | $ 34,326,246.00 | $ 25,000,000.00 |
| Q2-21 | | Target Not Reached | $ 1,000,000.00 | $ 6,000,000.00 | $ 34,326,246.00 | $ 50,000,000.00 | ||
| Q3-21 | | Target Not Reached | $ 1,000,000.00 | $ 9,000,000.00 | $ 34,326,246.00 | $ 75,000,000.00 | ||
| Q4-21 | | Target Not Reached | $ 1,000,000.00 | $ 12,000,000.00 | $ 34,326,246.00 | $ 100,000,000.00 |