Job creation tops list of priorities for $265M in public funds for Cleveland Innovation District

Ohio officials detailed how $265 million in public funding will be used to back the Cleveland Innovation District, cleveland.com reported Nov. 11.

Eight things to know:

  1. The district will be a partnership between Cleveland Clinic, University Hospitals, the MetroHealth System, Case Western Reserve University and Cleveland State University, which are all based in Cleveland. 

  2. On Nov. 10, JobsOhio outlined how the $110 million it plans to spend on the district will be allocated. JobsOhio is the state's economic development arm.

  3. Cleveland Clinic will get up to $45 million from JobsOhio and has agreed to make a $300 million investment of its own to create 8,500 jobs, issue 2,000 job-related certifications, make $1 billion in research-related investment over a decade and build the Global Center for Pathogen Research and Human Health. 

  4. In addition to the money JobsOhio will distribute, the Ohio Development Department will allocate $155 million to Cleveland Clinic. The contribution includes a $35 million jobs creation tax credit; the hospital has agreed to hire 1,000 people over seven years.

  5. The department also plans to loan Cleveland Clinic $100 million, though the agreement has not been finalized. A spokesperson for the Development Department told cleveland.com that Cleveland Clinic plans to exceed that goal and that the tax credit could be worth up to $55 million.

  6. Cleveland Clinic spokesperson Alicia Cooney Reale told cleveland.com the loan "will support construction costs to expand the research enterprise and hiring" at the hospital.

  7. JobsOhio is committing up to $10 million to Metro Health. The health system has agreed to make $11 million in research-related investment over a decade. The system will also create Community Responsive Care to examine infectious diseases and provide workforce training.

  8. JobsOhio committed up to $17.5 million to University Hospital, which agreed to hire 235 employees and invest $233 million in research over a decade.

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