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Lorain County Land Bank "wildly successful"

The Lorain County Land Reutilization Corp., or land bank, has completed about 178 demolitions around the county. It is a “wildly successful” outcome that has earned praise from state officials, said Lorain County Administrator James Cordes. More money could be in the pipeline soon to tear down blighted houses around the county.

Get the full story here.

Forbes: An "Epcot Center" for med tech coming to Cleveland

In a lengthy Forbes feature titled "City Surgeon: Can The Cleveland Clinic Save Its Hometown?" writer Matthew Herper reports on Delos “Toby” Cosgrove's tenure at the Cleveland Clinic and his efforts to leverage healthcare to improve the Clinic's neighborhood and the region's economy.
"The rough old neighborhood is a distant memory, replaced by a gleaming testament to modern medicine stretching out over 46 buildings and covering 167 acres. Protected by a dedicated 141-trooper force of state police, there is a conference center, a fancy hotel and a farmers’ market. Over Cosgrove’s tenure the clinic’s revenues have nearly doubled to $6.2 billion."
But Cosgrove's biggest brainstorm was to build a "giant mall for hospital buyers." 
"Think about the things that go into a hospital. Shades, televisions, chairs, tables, wall coverings, all the medical gear, the operating tables, you name it,” Cosgrove is quoted in the piece.
"What is emerging is an Epcot Center for med tech. GE Healthcare, Siemens, Philips Health Care and Cardinal Health are among the 22 confirmed tenants in the soon-to-be-completed center. Next door, Bennett has already booked conventions that will bring 89,395 attendees this year and 100,400 next. By the end of 2016, he says, bookings should be enough to pay back the $465 million it took to construct both buildings."
“It will begin to influence the city as it comes back and make it a destination medical city,” Cosgrove predicts.
Read the rest of the article here.

New projects to create 591 Ohio jobs

Governor Kasich today announced the approval of assistance for nine projects set to create more than 591 jobs and retain 943 jobs statewide. During the Ohio Tax Credit Authority’s monthly meeting, it reviewed economic development proposals brought to the board by JobsOhio and its regional partners. Together the projects are expected to result in more than $29 million in new payroll and $40 million in investment across Ohio.

Get a list of the projects approved here.

More than 500 businesses headquartered in northeast Ohio

More than 500 businesses are headquartered in the 18-county region that makes up northeast Ohio, adding up to 49,000 jobs, says Tom Waltermire, CEO for Team NEO, which works with several development and chamber groups to promote and market the region.

“There’s a strong concentration of headquarters operations in our area,” notes Waltermire.

Read the full story here.

Business booms at Port of Cleveland

Business is booming at the Port of Cleveland, which saw cargo from international ships jump 77 percent in July.

Read the whole story here.

Goldman Sachs' 10,000 Small Businesses program accepting applications

The entrepreneurs taking advantage of this free business management education program develop the practical skills they need to grow their companies. Classes to be held at the Cuyahoga Community College.

For complete information, including eligibility requirements, application details and class schedules, click here.

Collaborative efforts fuel northeast Ohio growth for second quarter 2013

Regional economic development efforts across Northeast Ohio continued to spur growth for the region’s economy in the second quarter of 2013 by attracting five organizations into the region – including Daisy Brand LLC and GE Oil and Gas, Inc. – and facilitating the expansion and/or retention of eight others, reports the Q2 2013 Regional Economic Development Report released by Team NEO.

Read the full story here.

CLE-based Parker announces first solid oxide fuel cell system installation

Silently and efficiently running on propane, the Parker Combined Heat and Power (CHP) Fuel Cell System provides power independence and optional heating and hot water for customers in the recreational vehicle and marine markets. The system, which was co-developed with New York based Watt Fuel Cell Corp., is being installed on a 36-foot sailboat.
Get the whole story here.

Bizdom Cleveland to host Google Glass presentation

On Thursday, Aug. 15 at 6 p.m., Bizdom Cleveland will host a presentation on Google Glass and the past, present, and future of wearable computing by Mel McGee, wearable computing pioneer.

Get all the details here.

Governorís plan will invest $3b in Ohioís transportation system

Governor John R. Kasich on Monday unveiled a robust plan for improving Ohio’s transportation system with a $3 billion investment in infrastructure over the next several years. Kasich’s Jobs and Transportation plan will allow the state to eliminate decades long delays on some 41 new construction projects now slated to begin construction as soon as next year in some cases.

Read the whole story here.

Ohio firms reel in $94m in venture capital for 2013's second quarter

Venture capital investing in Ohio was up in the second quarter, even as numbers dipped nationally, according to a new report.

Nationally, $6.7 billion went to 913 deals. That’s down from $7.3 billion and 970 deals in the same quarter a year ago, according to the PwC/NVCA MoneyTree Report, which is based on data from Thomson Reuters. In Ohio, 20 deals accounted for $94 million of investment, up from 17 deals and $52 million a year earlier.

Get the full story here.

New CLE hedge fund aims to bet big on small biz

Cavalier Capital LLC, a new hedge fund in Cleveland has attracted more than 40 investors and is investing in the stock of small companies, a strategy it will keep even as it grows, says founder and Willoughby native Ben Mackovak.

Read more here.

Beachwood-based TOA Technologies raises $66m in major funding round

The leading mobile workforce management software provider closes a major round of funding with California-based Technology Crossover Ventures to reshape the industry by enabling businesses to streamline operations, empower mobile employees and redefine the customer experience.

Get the whole story here.

Microsoft BizSpark's Silicon Valley News features Chagrin Falls-based Pixsi

Amazing ideas often come from concerns we find in our everyday lives. That piece of wisdom rings especially true for Pixsi, a new consumer-centric mobile marketing company whose headquarters are located in Chagrin Falls, Ohio. Over the past few months, I've had the opportunity to watch Pixsi grow first-hand. As a Startup Technologist for Microsoft, I see many startups growing on a daily basis. Pixsi is unique and a brilliant model example for entrepreneurs. Here are some takeaways that you can learn from Scott Andrews, the CEO of Pixsi.

Read the whole story here.

Free panel discussion on "first to file" and patent law changes

On July 25, the JumpStart Entrepreneurial Network will host a panel discussion covering major aspects of the first-to-file system and how it differs from the previous patent process. Panelists will discuss how this reform will affect entrepreneurs and their technology, and how it might change the way startups, universities and other innovation hubs will conduct business. This free program runs from 5:30 to 7:30 p.m.

Registration and event details are available here.
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