Cleveland, Ohio, September 16, 2024 – Team NEO and the Aerozone Alliance have been awarded a $100,000 grant from the Economic Development Administration (EDA) to implement the Aerozone Economic Catalyst Plan for Cuyahoga County, Ohio. This planning grant will help guide the strategic development of the Aerozone, a growing hub for aviation, space technology, and advanced manufacturing.
The Aerozone Economic Catalyst Plan aims to establish a comprehensive framework for leveraging the unique assets of the region, particularly Cleveland Hopkins International Airport and NASA Glenn Research Center. The project’s total cost is $200,740, with the federal grant covering half of the expenses.
“The Aerozone has the potential to be a global hub in space, aviation, and advanced logistics innovation,” said Bill Koehler, President and CEO of Team NEO and Aerozone Alliance board member. “This grant is a critical first step toward establishing a cohesive strategy for business growth and job creation in our community.”
The plan, is spearheaded by the Aerozone Alliance and supported by a coalition of 50+ public and private sector partners. The study will evaluate how to best leverage key Aerozone anchors such as NASA Glenn Research Center and Cleveland Hopkins Airport, unique regional infrastructure and industry assets to grow and attract aerospace businesses to the region. Once completed, the plan will provide a roadmap for attracting private capital investment and creating high-quality jobs, further solidifying the Aerozone as a key driver of Northeast Ohio’s economic growth.
This initiative is being developed with bipartisan support from Senator Sherrod Brown and Congressman Max Miller, whose continued advocacy for regional development has been instrumental in securing federal backing for the project.
“Thanks to the leadership of Team NEO and the collaboration of numerous stakeholders, we are positioned to capitalize on the opportunities ahead,” said Hrishue Mahalaha, Executive Director of Aerozone Alliance. “The Aerozone Economic Catalyst Plan will provide the insights needed to foster long-term prosperity and strengthen the region’s competitive edge in aerospace and manufacturing industries.”
About Team NEO
Team NEO is a private, nonprofit economic development organization that ignites economic vibrancy, fosters sustainable growth, and champions equitable prosperity. As a designated JobsOhio Network Partner, we collaborate across all 14 counties in the Northeast Ohio Region to create strategies to attract and retain companies, drive innovation, cultivate a skilled workforce, advance market-ready sites, and promote and engage the region. To learn how Team NEO helps make Northeast Ohio more competitive, visit northeastohioregion.com.
About the Aerozone Alliance
The Aerozone Alliance is a place based economic development organization that exists to help grow the aerospace, manufacturing, and logistics businesses in a 50-square-mile area around Cleveland Hopkins International Airport and NASA Glenn Research Center. theaerozone.org.
For additional information, contact:
Nina Holliday
Team NEO
216.363.5428 (o)
216.218.6462 (c)
nholliday@teamneo.org
