Victor Bierman - Cleveland Gets $60M for Economic Growth

Victor Bierman - Exploring a Haunted Village in Ohio

Victor Bierman - Cleveland economic growth is hot

Cleveland Wins $60M Federal Award to Spark Economic Growth

Investment in Cleveland is on the rise and Cleveland is poised for even greater heights. Cleveland Development Advisors (CDA) recently announced it has received a $60 million federal award to attract private investment and spark economic growth in the region. “It’s an exciting time for Cleveland and our region has made incredible strides over the last few years, but we certainly can’t stop there. The $60 million in federal tax credits will help us to continue this positive momentum well into the future,” said Joe Roman, CEO of the Greater Cleveland Partnership.

The city has been on an upward trajectory since its hosting of the Republican National Convention (RNC) and recent back-to-back professional sports championships. There is a lot of activity here and Clevelanders are excited. Whether its downtown or the suburbs, everywhere you look there is something going on. Last October for instance, a $60M mixed-use construction project began to revitalize the Ohio City neighborhood.

The New Markets Tax Credit (NMTC) program was signed into law as part of the Community Renewal Relief Act of 2000. The goal of this bi-partisan initiative was to inject economic development to facilitate urban renewal projects in low-income and distressed cities around the country.

As a result of the NMTC program, approximately 750,000 jobs were created nationwide over a nine-year span from 2003-2012. “Simply put New Market Tax Credits work. Previous allocations have leveraged more than $796 million in investment in the City of Cleveland resulting in more than 5,000 permanent jobs and 1,104 housing units,” noted Congresswoman Marcia L. Fudge (OH-11).

According to the CDA which is an affiliate of the Greater Cleveland Partnership, it is expected that this tax credit will result in hundreds of millions of dollars worth of new projects in the city. Cleveland has received these tax credits before and has put them to good use through the financing of more than thirty projects that have generated over 5,000 permanent jobs. Also, more than 1,000 residential units and 2.6 million square feet of commercial space was made possible through NMTC.

“As exciting as this federal award is, it is important to keep in mind that it is given to distressed cities. While Cleveland has made considerable progress, there is a long way to go before it is no longer on the distressed list,” said Victor J. Bierman III, Ohio lawyer and business expert. Through these types of public-private investments, Cleveland is well on its way to being recognized as the world class city it truly is.

Originally published by Victor J. Bierman III:  https://victorbierman.com/2016/12/15/cleveland-wins-60m-federal-award-to-spark-economic-growth/

Victor Bierman - Ohio fun facts

4 Surprising Facts about Ohio You Probably Didn’t Know

There is something about Ohio that you just don’t find anywhere else in the country. “Maybe it’s the high quality education, traditional mid-western values, or a little bit of both, but this state gives birth to some of the best and brightest talent in the nation in a range of disciplines,” noted Victor Bierman III, Ohio lawyer and business expert. Whether you live here or are planning a visit, here are four surprising facts about Ohio you probably didn’t know.

The birthplace of 7 U.S. Presidents

During a 54-year span from 1869 to 1923, 7 of our elected Presidents, all Republicans, were born in Ohio. That’s an astonishing fact!  Ulysses S. Grant (18th) born in Pt. Pleasant was the first President that was born in Ohio.  What you probably didn’t know is that he signed legislation that created Yellowstone National Park which is the nation’s first national park.

Then there was Rutherford B. Hayes (19th) Delaware, Ohio; James Garfield (20th) Moreland Hills, OH; Benjamin Harrison (23rd) North Bend, OH; William McKinley (25th) Niles, OH; William H. Taft (27th) Cincinnati, OH; and Warren G. Harding (29th) Blooming Grove, OH.

29 astronauts were born in Ohio

Ohio is not only the epicenter of American Politics; it is also a leading contributor to NASA’s space program with more than two dozen astronauts having been born in Ohio, including Neil Armstrong (Wapakoneta) and John Glenn, Jr. (Cambridge, OH). As you probably know, Armstrong was the first man to walk on the moon during the Apollo 11 mission in 1969. Meanwhile, Glenn was the first astronaut to orbit Earth. He also served as a U.S. Senator for 25 years from 1974 to 1999.

First professional sports team

In 1869, known as the Cincinnati Red Stockings, this baseball team of 9 players became the very first professional sports team in the U.S. According to the Reds website, the team won their first game against the Mutual’s of New York. The score was 17-8. In 1887, the team eventually changed its name to simply the Cincinnati Reds. The oldest franchise in Major League Baseball hosts home games at Great American Ballpark in downtown Cincinnati.

The NFL was founded in Ohio

Ohio has a long history of professional sports, but you probably didn’t know that the National Football League (NFL) was actually founded here. In the early 20th century, football was a young and growing sport.   After all, it wasn’t until the late 1870’s when the rules of American football were first written. So you can imagine the chaos of different teams interpreting rules differently. To bring organization and unity to the new sport, the American Professional Football Association was founded in Canton in 1920. Two years later the league changed its name to the National Football League (NFL). You can learn more about its exciting history at the Pro Football Hall of Fame in Canton, Ohio.

Originally published by Victor J. Bierman III here: https://victorbierman.com/2016/12/08/4-surprising-facts-about-ohio-you-probably-didnt-know/