CLEVELAND

Cleveland is a city on the rise, with strategic investments in its economic development, infrastructure, and key assets, contributing to a thriving environment for businesses and a high quality of life for its residents.

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THE CITY OF CLEVELAND

Cleveland, Ohio, is a dynamic blend of entrepreneurial spirit, innovative breakthroughs, and a hardworking community, fostering an optimal environment for business growth and a high quality of life. Undergoing an economic transformation, the city is becoming a magnet for talent, entrepreneurs, and skilled workers, supported by substantial investments in its future.

Economic development is a cornerstone of Cleveland’s revival, particularly with the new mayoral administration’s focus on neighborhood revitalization and commercial corridor rehabilitation. The result is a business-friendly climate backed by a supportive government.

Downtown Cleveland has experienced a 32% growth since 2010, reflecting its appeal as a place to live and work. Ambitious urban projects aim to enhance the downtown area, linking the city center to waterfronts and improving livability.

Cleveland supports business with a suite of incentives, loans, and grants, complemented by state and county partnerships, offering flexible and tailored financial solutions for business expansion or relocation.

The city’s $430 million investment in infrastructure over the past 12 years underscores its commitment to creating a solid foundation for sustainable business growth. This investment supports a diverse economy, ranging from manufacturing to healthcare and Fortune 1000 companies, all benefiting from a robust, inclusive economic strategy that supports minority and female-owned businesses.

Quality of life in Cleveland is bolstered by its educational institutions, environmental initiatives, and cultural offerings, with over 50 colleges and universities providing a skilled workforce to local businesses. This educational prowess is a significant draw for companies seeking a talented and innovative labor pool.

Cleveland’s journey in recent years showcases a city on the rise, one that has strategically invested in its economic development, infrastructure, and key assets to create a thriving environment for businesses and a high quality of life for its residents. The city’s future-focused initiatives and inclusive approach to growth make it an optimal location for businesses looking to start, relocate, or expand.

Cleveland is poised to continue its trajectory of growth and innovation. The city’s vision includes a focus on retail and business attraction, housing development, and the creation of a multimodal network to improve connectivity. These initiatives, coupled with ongoing efforts to boost safety, security, and public amenities, further cement Cleveland’s position as a premier destination for businesses and residents alike.

Justin M. Bibb

Mayor

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Tom McNair

Economic Development Director

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CLEVELAND BY THE NUMBERS

Choosing the Aerozone means more than just finding a new location for your business. It’s about becoming part of a dynamic community that’s at the forefront of innovation and growth.

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ECONOMIC INCENTIVES

Cleveland offers a variety of incentives for businesses looking to locate or expand within the city, reflecting Cleveland’s commitment to fostering economic development, supporting business expansion, and revitalizing urban areas.

GRANTS

Gardening for Greenbacks Program: Established in 2008 to promote local food system development and ensure access to fresh, healthy, and affordable food for residents. It assists entrepreneurs in this sector.
Municipal Small Business Initiative: A partnership with the U.S. Small Business Administration and Cuyahoga County, this grant reduces a business’s equity requirement in an SBA-funded project. It allows businesses to lower their equity from 25% to 10%, with the city providing a grant covering 15% of total project costs (excluding working capital).
Ohio Brownfield Program Grant: Supports the redevelopment of brownfield sites with funds awarded on a first-come, first-serve basis for environmental assessment or clean-up.
Tech Delta Program: Offers financial assistance to tech and medical companies relocating or expanding within Cleveland, addressing their unique build-out costs or rental rates due to technological needs.
The Cleveland Major Events Grant Program: Supports the execution of high-profile, national-scale events that benefit the City of Cleveland.

LOANS

Equipment Loan Program: Assists small to medium businesses in acquiring equipment through long-term, fixed-rate financing. It’s aimed at businesses creating or retaining jobs.
Mayor’s Neighborhood Transformation Initiative (NTI) Forgivable Loan Program: Provides financial assistance to businesses and landlords in targeted neighborhoods to fill vacancies and reactivate commercial corridors.
Neighborhood Retail Assistance Program: Supports existing and start-up small businesses and entrepreneurs with financing, unique among cities nationwide.
Working Capital Loan Program: Offers additional working capital to small-medium businesses creating or retaining jobs and looking to expand.
The Cleveland Major Events Grant Program: Supports the execution of high-profile, national-scale events that benefit the City of Cleveland.

OTHER PROGRAMS

Enterprise Zone Tax Abatement Program: Offers real property tax exemptions to businesses making investments in Ohio, within designated Enterprise Zones.
Industrial/Commercial Land Bank: Aims to redevelop or repurpose urban land and buildings to meet current market needs, including the investment in brownfield site redevelopment.
Opportunity Corridor: A 3-mile roadway project managed by the Ohio Department of Transportation, designed to enhance connectivity and development opportunities in designated areas.

AVAILABLE SITES & PROPERTIES

6886 Pearl Rd
6886 Pearl Rd 4,600 SF of Office Space Available in Middleburg Heights, OH 44130 14,000 SF Industrial Warehouse Unit available for lease.[...]
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7055 Engle Rd, Bldg 6
7055 Engle Rd, Bldg 6 8,825 SF of Office Space Available in Middleburg Heights, OH 44130 14,000 SF Industrial Warehouse Unit available[...]
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6412-6440 Pearl Rd
The Pearl, 6412-6440 Pearl Rd 1,700 SF of Retail Space Available in Parma Heights, OH 44130 14,000 SF Industrial Warehouse Unit available[...]
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