| Follow Us: Facebook Twitter RSS Feed

Regional Economy : In The News

269 Regional Economy Articles | Page: | Show All

Cleveland was just named one of America's most affordable cities

Cleveland joins cities like Eugene, Oregon and Fort Walton Beach, Florida in AARP The Magazine's list of "10 of the Best American Cities to Live Comfortably on $40,000 a Year." In tandem with Sperling's Best Places, the magazine ranked cities based on factors like housing affordability, access to work and recreation, transportation, healthcare and safety to create a "livability index" rating. (Cleveland weighed in at 56, with a median housing price of $124,000.) Here's what the magazine had to say about living in The Land:

Situated on the shores of Lake Erie, Cleveland has experienced a cultural renaissance of late, led by growing populations of baby boomers and millennials alike. The city's robust art and music scene is complemented by lively nightlife and award-winning restaurants, not to mention a renewed excitement among NBA fans with the return of hometown hero LeBron James.

Read more about the 10 chosen cities here in Travel + Leisure.

Reward Expert ranks Cleveland 7th on its list of best staycation cities

Planning your next vacation? You may not have to travel beyond the city limits. Reward Expert has ranked Cleveland 7th on its list of “2017’s Best Cities for Staycations.” The reward travel website compared 100 of the largest cities in the U.S. based on 29 key metrics broken down into three categories: Recreation, Food & Entertainment, and Rest & Relaxation. Cleveland’s sports success and must-sees like PlayhouseSquare and the Rock & Roll Hall of Fame are cited, as well as Cleveland's “many public pools and its beaches alongside Lake Erie.” (And here's a fun fact: Cleveland has the most public pools per capita. Stay cool, Cleveland!)

Read the full write-up and see which other cities made the list here.
 

Fund for Our Economic Future approves $3m in awards

The members of the Fund for Our Economic Future (the Fund), a philanthropic collaboration, have approved $3 million in funding to advance business development and job creation in Northeast Ohio, with the end goal of growing the regional economy so that all people benefit.

The recipients include:

Team NEO:  a one-year award of up to $650,000 to support the advancement of a shared, regional economic competitiveness strategy, business development and economic research.

BioEnterprise:  a two-year award of up to $800,000 to support its efforts to grow the bioscience cluster.

MAGNET:  a two-year award of up to $900,000 for its PRISM initiative to help mid-size manufacturers with high-growth potential innovate and prosper.

JumpStart:  a two-year award of up to $500,000 for its Scaleup Initiative to support high-growth potential companies; and a one-year award of up to $150,000 to support its startup network. 

Get all the details on this announcement here.

Cleveland is #2 - in mortgage affordability

According to online mortgage resource HSH.com, a homeowner must earn $32,523 in order to own a home in Cleveland. The only city with a lower threshold was Pittsburgh, for which the figure was $31,134. The highest must-earn income for home ownership was $147,996 for San Francisco.

From HSH.com:

"HSH.com took the National Association of Realtors’ (NAR) 2015 fourth-quarter data for median-home prices and HSH.com’s 2015 fourth-quarter average interest rate for 30-year, fixed-rate mortgages to determine how much of your salary it would take to afford the base cost of owning a home - the principal, interest, taxes and insurance - in 27 metro areas.

We used standard 28 percent "front-end" debt ratios and a 20 percent down payment subtracted from the NAR’s median-home-price data to arrive at our figures. We've incorporated available information on property taxes and homeowner’s insurance costs to more accurately reflect the income needed in a given market."

Get all the details here.


 

Interest free loans for Mt. Pleasant residents

The Saint Luke’s Foundation recently awarded a grant to the Hebrew Free Loan Association (HFLA) of Northeast Ohio to provide interest free loans of up to $5,000 to the residents in the Mt. Pleasant neighborhood who are in need of home repair or funds to purchase side yards.

Qualifications include income that will allow repayment of the loan, a co-signer and quotes from an insured and bonded contractor. Loan checks will be written directly to the service provider. Perfect repayment of this loan will allow applicants to qualify for future interest free loans.

For additional information click here or call 216-378-9042.

Russo brothers ignite rumors about next "Avengers" effort to film in CLE

Didn't Fresh Water just report on the benefits of the Ohio Motion Picture Tax Credit? Why, yes, we did. And then this pops into our feed from MoviePilot:

"They didn’t share any 'Captain America: Civil War' spoilers, but directors Joe and Anthony Russo told fans that 'Avengers: Infinity War' could land in Cleveland.

'It’s on the list,' said Anthony.

The reveal took place Saturday during a Wizard World Comic-Con Cleveland panel titled 'Let’s Shut Down Some Streets: Bringing the Avengers, Captain America and the Russo Brothers to Cleveland.'

The Russos, who grew up in Cleveland and graduated from Case Western Reserve University, were joined by Ivan Schwarz, director of the Greater Cleveland Film Commission. The trio discussed how the region could grow its production slate and how it could attract more features to Northeast Ohio.

The first step, said Schwarz, was getting the Ohio legislature to raise the motion picture tax incentive from $25 million a year to $75 million. That’s legislation will go before Ohio lawmakers this spring."

Get the whole story here.

A tip of the hat to Tom Tenant, who champions films and filmmaking in the Midwest - primarily Cleveland, Pittsburgh and Detroit (but mostly Cleveland), for this great tip. Readers can follow his musings on Midwest Movie Maker.

Metroparks to hold seasonal job fair

While summer may feel far away, college students will be returning home with their requisite manbuns and proclivity to wear slippers as shoes in a blink. They will soon join area high school juniors and seniors, who are already eyeing residential couches with plans to become one with them from June through August.

It does not have to be this way.

On Sunday March 6 and Saturday March 19 from 11 a.m. to 2 p.m., the Cleveland Metroparks invites those students, along with anyone interested in seasonal employment, to attend a job fair. The two events will be held at Stillwater Place, 3900 Wildlife Way in the Metroparks Zoo. Opportunities include food service jobs, camp counselor slots, maintenance positions and many others.

Complete details and registration information are available here.
 

Calabrese advocates for transit funding at Statehouse

Joe Calabrese, CEO and General Manager of the Greater Cleveland Regional Transit Authority (RTA) advocated for more transit funding in testimony on Feb. 16 at the Statehouse.

"RTA is the largest public transportation agency in Ohio. My employees, who reside in 16 of Ohio counties, serve approximately 50 million customers each year in Cuyahoga and several neighboring counties," said Calabrese in his address.

"Public transit in Ohio is a $900 million industry that supports many manufacturers, suppliers and jobs.

Public transit gets workers to work, students to school, connects important destinations, drives economic development and provides mobility to many Ohioans who have no other mobility option due to economic realities or disabilities."

Read his comments in their entirety here.
 

Vibrant City Awards attract sold-out crowd, celebrate urban champions

On Tuesday, over 500 guests gathered at the Victory Center in the Health-Tech Corridor for the first-ever Vibrant City awards, hosted by Cleveland Neighborhood Progress.

CNP President Joel Ratner told the crowd, “The facts are there. Data shows that our region is gaining brains and income, our city schools are making terrific improvements, and Cleveland’s population loss is ending. We are headed into an era of exciting growth.”

City of Cleveland Community Development Director Daryl Rush was honored with the inaugural Morton L.Mandel Leadership in Community Development Award.

Other recipients were:

CDC Catalytic Project/Program Award
Fairfax Renaissance Development -- Intergenerational housing

Urban Realtor Award
Keith Brown and Dave Sharkey – Progressive Urban Real Estate

Developer Award
Keith Sutton and Dave Territo, Sutton Builders

Neighborhood Branding & Marketing Award
Downtown Cleveland Alliance – You and Downtown Video

Community Collaboration Award
Gordon Square Arts District (DSCDO, NWT, CPT)

Corporate Partner Award
Third Federal Saving

Huff Po names Cleveland the # 1 beercation destination

"Cleveland has become the San Francisco of craft beer with small batch startups dominating the scene. Check out local offerings from Nano, Market Garden and Platform to make the most of your Cleveland stay."

Read the full story here.

Jetsetter names Cleveland one of 10 great new food cities

"For years, the bold and the bearded poured into Portland, Ore., embracing craft spirits, farm-to-table fare and all things artisanal. Is Cleveland next? Local chefs like Michael Symon say yes, taking advantage of low rents and the Midwestern bounty like Iowa prosciutto at casually brilliant restaurants and urban breweries, including Great Lakes Brewing Company and Buckeye Brewing. At Lola Bistro, owner Michael Symon celebrates butcher cuts like calves hearts with preserved lemon. Jonathon Sawyer, whose Greenhouse Tavern is one of Symon’s favorite haunts, recently opened an opulent Italian spot called Trentina, where the bread course includes an edible beef candle (not a typo) made from aged beef tallow."

Read the full story here.

Thrillist: West Side Market is a 'definitive American destination'

"There are great food markets all over America these days, but few are as ingrained in the community (it’s 100+ years old) or as representative of it (some of the same vendors have been there 60 years or more). Cleveland native Phoebe Connell explains in this quote we had to excerpt the bejesus out of because she gave us two pages of loving notes:

'The West Side Market, THE JEWEL OF CLEVELAND. This isn't a farmers market -- it’s a place where everyone's grandmother used to come to get cabbage and a roast for Sunday dinner. Think of it as being in Williamsburg before Williamsburg was fancy: still in the city, but in an actual neighborhood with working class homes.'"

Read the full story here.

Buzzfeed names Cleveland one of 29 cities 20somethings should move to

"It's cheap, their museum is on point, and they have excellent taste in beer." So says Buzzfeed.

Check out what other cities made the list. Read the full story here.

Travel + Leisure readers rank Cleveland one of America's best food cities

"The rust belt city offers some old-fashioned, even old-world, charms. Readers ranked it at No. 5 for its rich food halls, like West Side Market—with spices, baked goods and delis—which dates back to 1912, when it catered primarily to the city’s immigrants."

Read the full story here.
 

cleveland playhouse named one of the 10 best regional theatres in u.s.

"The year 2015 marks the 100th anniversary of the Cleveland Play House, the country’s first professional regional theater. Over the decades, the company has created more than 1,300 productions, seen by more than 12 million people."

Read the full story here.
269 Regional Economy Articles | Page: | Show All
Signup for Email Alerts