Innovation: Boost Business Growth and Job Creation
This is the first section of the Cleveland Policy Platform
- Create Transformation Zones in areas surrounding anchor institutions (replacing the expiring Enterprise Zones) to act as catalysts for community and economic development that would stipulate targeting tax incentives and other state investments to support business and residential development, to leverage our scarce state resources.
- The Cleveland Clinic already acts as an example of an anchor in Cleveland, and The Fairfax Renaissance Development Corporation (FRDC), a local non-profit organization located in the Cleveland Clinic neighborhood, through Ohio’s Third Frontier Program, is partnering with the Cleveland Clinic to facilitate educational, economic and neighborhood development in close proximity to an important anchor institution. FRDC’s work focuses on redeveloping the neighborhood and commercial district surrounding the Cleveland Clinic to create a thriving social and economic landscape.
- Support a proposed national network of regional, university-related, energy-oriented research Institutes that would generate energy research and development to transform breakthrough inventions into market-ready technology. Align these Institutes with existing Ohio Third Frontier Programs while leveraging R&D and commercialization applications.
- Both Case Western Reserve University and Cleveland State University are engaged in cutting edge energy-oriented research. Case Western created the Great Lakes Institute for Energy Innovation to facilitate the research, development and advancement of alternative energy, while Cleveland State has been involved in the development of wind turbines designed for use in urban areas. University-led research and development will help Ohio position itself as an alternative energy leader and create many high quality jobs.
- Enhance Ohio Department of Development programs to promote economic cluster growth and development by building on current industry strengths.
- Cleveland has a strong presence in the healthcare industry as it is home to the world renowned Cleveland Clinic and the University Hospitals System. These facilities represent the top two largest employers in Cleveland and are a large revenue source for the city. State programs that encourage communities to build on their anchor institutions will increase the competitiveness of Ohio’s regions.
- Create a Cluster Development Fund, using existing resources, which would support industry-led partnerships to catalyze job creation and growth through workforce development, network-building, and marketing programs.
- BioEnterprise is a business formation, recruitment, and acceleration initiative that is designed to grow Cleveland’s burgeoning healthcare industry to create jobs and strengthens the city’s standing as a leader in healthcare.
- Wind is a part of the Cleveland region’s future and the state should support this industry by providing targeted incentives to encourage the manufacture of wind turbine parts and creation of jobs. The Cleveland-based Great Lakes WIND Network™ is an industry-led organization of manufacturers and suppliers whose mission is to increase the domestic content of North America’s wind turbines. With over 1,200 company members, Great Lakes WIND is helping position Northeast Ohio to compete in this growing industry.
- Enact a tax credit targeted at developers and homeowners to spur downtown residential construction and rehabilitation
- Prioritize downtowns for locating state-owned offices and facilities, as well as look for opportunities to expand centrally-located state-operated university and community college campuses
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