First Annual Cleveland Entrepreneurship Week to Kick Off November 5

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Cleveland Entrepreneurship Week is November 4-8.  Cleveland Entrepreneurship Week is structured to connect entrepreneurs with local leaders, capital and resources so that they may successfully collaborate on current and future business opportunities to create new jobs and economic growth in the state of Ohio. Cleveland Entrepreneurship week is presented by American Airlines, LaunchHouse and Brasco Design + Marketing.The opening event will take place on November 5 at 7:30 PM at Launch House located at 3558 Lee Road Shaker Heights, Oh 44120.

The City of Cleveland’s Department of Economic Development helps businesses thrive in Cleveland by providing the technical assistance, creative financing and educational opportunities needed to grow and develop. An advocate for entrepreneurship, the Department offers many opportunities to help businesses succeed, including but not limited to, the Neighborhood Retail Assistance Program, the Economic Development Administration Loan and the Vacant Property Initiative Fund.

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Businesses are encouraged to take advantage of Cleveland Entrepreneurship Week, an opportunity to meet entrepreneurs from around the country. The event will connect entrepreneurs with potential financial backers as well as fellow business people. It is an investment for Cleveland businesses to learn how to take their business to the next level.

You can also follow @ClevelandEW on Twitter for event news and updates.

Schedule 

November 5

5:00 PM-7:30 PM Launch House Demo Day- The culmination of the 12 week LaunchHouse accelerator program

7:30 PM-10:00 PM Cleveland EW Opening Event- Kick off for Cleveland Entrepreneurship Week

November 6

9:00 AM-11:00 AM  Pitch Session

11:00 AM-1:00 PM  Pitch Session

1:00 PM-3:00 PM    Pitch Session

3:00 PM-5:00 PM    Pitch Session

6:00 PM-9:00 PM   After Hours Networking

November 7

9:00 AM-3:00 PM Showcase Ohio

5:00 PM-7:00 PM Cleveland Startup Collective Speaker Series

7:00 PM-11:45 PM Cleveland EW Presents BT @ Barley House

November 8

9:00 AM-11:00 AM Women in Business

9:00 AM -11:00 AM Attracting Capital in Cleveland

11:00 AM-1:00 PM Med Tech Industry

11:00 AM-1:00 PM Cleveland Food Industry

1:00 PM-3:00 PM Government Role with Start-Ups

1:00 PM-3:00 PM Creating a Loyal Brand

3:00 PM-5:00 PM So You Want to Start a Biz?

3:00 PM-5:00 PM Legal Advice for Growth Stage Companies

7:00 PM-10:00 PM Cleveland EW Closing Event

For more information on Cleveland Entrepreneurship Week, visit http://clevelandew.org/

Be sure to like The City of Cleveland Department of Economic Development on Facebook, Twitter and Slideshare for more economic development news in Cleveland.

For questions about how to grow your business please call the City of Cleveland Department of Economic Development at 216-664-2406.

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2013 Inner City Economic Summit at Cleveland’s GCHI

The Inner City Economic Summit was held in Cleveland at the Global Center for Health Innovation October 23-24. The summit themed ‘Transforming Urban Ecologies’, convened economic and community development professionals from public, private and nonprofit sectors to discuss the drivers to economic growth.

The agenda included the Director of Economic Development for the City of Cleveland, Tracey Nichols. Director Nichols led a tour of Downtown Cleveland.  The tour highlighted the sites of some of Cleveland’s newest development efforts, including the future location of Lake Erie’s offshore wind farm, the thriving Health-Tech Corridor, and the transit development along Euclid Avenue.

Cleveland’s transit system is a successful development which has received national attention. Most recently mentioned in the article, Cleveland transit system points the way for Detroit M-1 Rail project, the project serves as an example to other cities and is award winning. Cleveland’s Health line was ranked as the highest quality-corridor in the US and Canada by the Institute for Transportation and Development Policy.

The Summit provided attendees with the practical knowledge, skills and network needed to bolster their city’s development efforts.The Summit also shed light on economic development successes within the City of Cleveland.

Director Nichols informing attendees about Cleveland's Healthline.

Director Nichols informing conference attendees about Cleveland’s Healthline. Photo by: Cheng-Han Yu, City of Cleveland

Bus  passes Cleveland City Call. Photo by: Cheng-Han Yu

Bus passes Cleveland Public Auditorium in Downtown Cleveland. Photo by: Cheng-Han Yu, City of Cleveland

City of Cleveland Department of Economic Development attend conference. Staff member, Michael Elliot asks a question. Photo by: Cheng-Han Yu, City of Cleveland

Team members of the City of Cleveland Department of Economic Development attend Summit. Staff member, Michael Elliot asks a question. Photo by: Cheng-Han Yu, City of Cleveland

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Cheng-Han Yu, Fellow, City of Cleveland with Dr. Michael Porter of Harvard Business School.

Cheng-Han Yu, Fellow, City of Cleveland with Dr. Michael Porter of Harvard Business School.

Be sure to like us on Facebook, Twitter and Slideshare for more economic development news in Cleveland.

For questions about business development in Cleveland please call the City of Cleveland’s Department of Economic Development at 216-664-2406.

Cleveland Businesses Can Acquire Low Interest Capital Assets with EDA Loan Program

The City of Cleveland’s Economic Development Administration Loan Program (EDA Loan) offers long term, fixed rate, and below market financing to for- profit businesses. EDA funds can pay for 1/3 of the project costs for machinery and equipment, working capital, building construction or acquisition and building renovation. The borrower can finance up to $200,000 for working capital and between $35,000 and $500,000 for other uses. The principal payment is deferred for six months on all EDA loans (interest only payments for six months). The amortization term period will begin after six months.

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To be eligible for this loan the business must be for- profit and is required to create or retain one full time job for every $35,000 borrowed. The business must inject at least 10% equity and the loan value must be 90% or less. The business must show that a bank would not finance the project, is charging a high interest rate or will only fund a portion of the project. The interest rate of the EDA loan is currently less than 3%. No retail establishments, except grocery stores, are eligible. Job creation may include both retained and created jobs.

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For more information on the EDA loan program, contact Michael Elliott, Project Coordinator, at 216-664-4470 or MElliott@city.cleveland.oh.us

Affordability Attracts Headquarters to Cleveland: New Online Newsletter Touts Economic Resurgence in the Midwest

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More companies are becoming interested in the opportunity to locate to the Midwest. Cleveland is among the chosen Midwest cities that companies are selecting for business. The economic downturn has not kept Cleveland down. There are increasing development opportunities here that are attracting businesses.

Alexander Mann Solutions, a U.K.-based global recruitment services company, is an example of a company which has taken advantage of Cleveland’s many assets. The company chose to headquarter in Cleveland after enticing persuasion from other states such as Florida, Texas and North Carolina. Cleveland and other Midwest cities are receiving recognition for economic development accomplishments.

Due to an increasing volume of interest and the economic rebirth in the Midwest, the monthly newsletter, Trust Belt, has been created. The newsletter is dedicated to the upper Midwest regions and will tell the stories of Midwest cities presenting an opportunity to share economic development news about their states and communities. The publication is being launched by the publisher of the award winning, Site Selection Magazine.

According to a study by The Boyd Company Inc., in Princeton, N.J., the Midwest offers some of the most affordable locations for corporate headquarters. Corporate executives are increasingly finding opportunities in Midwest territories like Cleveland. Cleveland ranks the 18th most affordable market in the country.

For more information on economic development in Cleveland, contact the City of Cleveland Department of Economic Development at 216-664-2406. Follow us on Twitter and like our Facebook page for news and events.  Follow  The Trust Belt on Twitter and like their page on Facebook for more information on the economic resurgence of the Greater Midwest Region.

Neighborhood Retail Assistance Program Brings New Life to Mac’s Sports Grill

Robert Hunt, Eloise Hunt and Anthony Stella at the Mac's Sports Grill Grand Opening

Robert Hunt, Eloise Hunt and Anthony Stella at the Mac’s Sports Grill Grand Opening

June 17th was a proud day for the Lee-Harvard community. The grand opening of Mac’s Sports Grill located at 17436 Harvard Avenue, triggered smiles on the faces of commuters eager to come back to the place they call home.

For citizens in the Lee-Harvard community, Mac’s Sports Grill is a home away from home. “Everybody in the neighborhood is saying, ‘We’re back home,’” said Robert Hunt, husband of Eloise Hunt, owner of Mac’s.

"Welcome Back Home" Mac's Sports Grill

“Welcome Back Home” Mac’s Sports Grill

“The best thing about coming here is the people. Most of the people have grown up in this neighborhood. This place is like a landmark,” said owner, Eloise Hunt.

The City of Cleveland’s Neighborhood Retail Assistance Program (NRAP), which aids small retail businesses and merchants in Cleveland, served as a key component in the success of the opening of this neighborhood landmark. NRAP provided Mac’s with a loan which helped purchase equipment and fund interior construction.

“The City’s Neighborhood Retail Assistance Program is a great tool for small retail businesses and restaurants,” said Anthony Stella, Project Coordinator for the City of Cleveland Department of Economic Development. “It was a pleasure to work with Ms. Hunt and help provide the financial assistance she needed to realize her dream of opening a sports café in the Lee-Harvard Neighborhood.”

Mac’s menu features many American favorites such as sandwiches, wings, burgers and fries as well as specialty drinks to enjoy during a big game or while socializing with friends. The business is also decorated in Cleveland sports memorabilia to showcase hometown pride.

Eloise Hunt not only loves Cleveland sports, but she is a strong supporter of the City.

“Cleveland is a great place to raise a family. I like that Cleveland is both peaceful and a place where you can have a good time,” said Hunt.

Leaving a legacy of pride, Hunt wants customers to remember, “This is something to give the community, something to be proud of. I want the people to be proud of what their community has accomplished.”

Business hours are 11:30 a.m. – 12:00 a.m. seven days a week.

Mac’s Sports Grill

Address: 17436 Harvard Avenue. Cleveland, OH 44128

Phone Number: 216-295-1808

For more information about the Neighborhood Retail Assistance Program, contact Anthony Stella with the City of Cleveland Department of Economic Development.