cleveland health tech corridor- icic
DESCRIPTION
The Initiative for a Competitive Inner City (ICIC) chose Cleveland’s Greater University Circle Wealth Building Initiative as a case study for its ‘What Works for Cities” Panel at its September 2012 Inner City Economic Summit. This is the presentation that Director Tracey Nichols gave at the panel discussion and provides concise background information on the initiative.TRANSCRIPT
Greater University Circle Wealth Building Initiative
Our Anchor Partners
BACKGROUND
2005-Greater University Circle Initiative (GUCI)-Working with the Anchors to create wealth and assets for low income individuals in the surrounding community
Cleveland Foundation led the effort 2009- Health Tech Corridor Initiative – use
the power of anchors to attract businesses 2011-Living Cities awards the Integration
Initiative to take the work to the next level
RESULTS
• Evergreen Companies– 3 companies plus a newspaper (80 jobs)
• New Bridge– Pharm Tech & Phlebotomist
• Supply Chain– First company moving to the City
• Health Tech Corridor– 278,000 square feet developed
– 28 acres brownfield redeveloped
– Over 1,400 new jobs to be created (324 thru 2011)
• Greater University Circle Living– 70 employees assisted to date- initiative expanded
LESSONS LEARNED/ADVICE
Need a Convener- someone who can pull together the Anchors
Analyze the power of the Anchors- Supply Chain, Hiring, Business Attraction
Use “Eds and Meds” Examples to illustrate the positives that can occur when working together
A strong City partner can bring federal and local funds to the table
Communication is key
