The Economic Impact of the Arts and Culture (ACE) as Economic Development Grant Program On the Greater Cleveland Regional Economy

This report describes the results of a REMI simulation conducted to measure the economic impact of the Cuyahoga County Arts and Culture as Economic Development (ACE) Grants. The results suggest that the grants have likely contributed to an increase in economic activity in Cuyahoga County

The Economic Impact of the Arts and Culture (ACE) as Economic Development Grant Program On the Greater Cleveland Regional Economy

This report describes the results of a REMI simulation conducted to measure the economic impact of the Cuyahoga County Arts and Culture as Economic Development (ACE) Grants. The results suggest that the grants have likely contributed to an increase in economic activity in Cuyahoga County

What Should EDA Fund? Developing a Model for Pre-Assessment of Economic Development Investments

This paper describes the completion of a “comprehensive study of regionalism” that was conducted by a joint team of economists and economic development specialists for the Economic Development Administration (EDA). The project consisted of two main activities: an examination of the factors associated with economic development success and the creation of a practical interactive tool for EDA project assessment and comparison. Findings from surveys, interviews, and project case studies are discussed in terms of their support for a positive relationship between successful economic development efforts and factors such as leadership and private investment. Also, the authors discuss the creation of a quantitative assessment model utilizing well-known approaches such as economic impact multipliers and cluster theory. The primary contribution of this work to the existing body of EDA-focused research and evaluation literature is introducing a means of using standardized scores, also known as z-scores, to compare and assess economic development projects across both industries and regions.regional economic development, economic impact, assessment model, EDA, z-score

Industry-Based Competitive Strategies for Ohio: Managing Three Portfolios

Deloitte Consulting, LLP, Cleveland State University, OSA Strategy. Political and business leaders have recognized a need to chart a new economic course for Ohio’s future. This study represents a step toward determining effective uses for limited development dollars in the state and filling in Ohio’s economic development strategy. This statewide industry study has been designed to provide economic development officials with insight, analysis, and strategic tools to help businesses compete more efficiently in an increasingly global marketplace

Strategy for the Implementation of an Industrial Land Bank

The City of Cleveland plans to create a long-term vision for industrial and commercial land reuse in order to better serve the business and neighborhood interests of its citizens. The implementation of an industrial land bank is one critical way in which to fulfill this goal. This study aimed to develop a strategy to aid the city in the operation and management of rehabilitating commercial and industrial properties for reuse. The objectives of the project were to: * Incorporate a strategy understood by senior managers at the city that identifies a broad economic redevelopment vision, especially for brownfields. * Include in the plan strategies for financing the acquisition and/or transfer of properties into the land bank. * Establish elements in the plan to include both short- and long-term implementation

Strategy for the Implementation of an Industrial Land Bank

The City of Cleveland plans to create a long-term vision for industrial and commercial land reuse in order to better serve the business and neighborhood interests of its citizens. The implementation of an industrial land bank is one critical way in which to fulfill this goal. This study aimed to develop a strategy to aid the city in the operation and management of rehabilitating commercial and industrial properties for reuse. The objectives of the project were to: * Incorporate a strategy understood by senior managers at the city that identifies a broad economic redevelopment vision, especially for brownfields. * Include in the plan strategies for financing the acquisition and/or transfer of properties into the land bank. * Establish elements in the plan to include both short- and long-term implementation

Best Practices in Land Bank Operation

In preparation for the development of a strategic business plan for the City of Cleveland to create an industrial/commercial land bank, the GLFEC conducted a best practices scan that encompassed two phases of primary research. The first phase included a thorough review of more than 41 sources of academic and trade literature on the topics of vacant land utilization and management, land banking, land assembly, and vacant and abandoned property policy. The second phase was a survey of 34 land banks and land redevelopment authorities in the United States. This report summarizes the findings of the research and identifies those practices in land-bank operation in the United States that currently define the models of operation and point to the best policies and practices in use today

What Should EDA Fund? Developing a Model for Pre-Assessment of Economic Development Investments

This paper describes the completion of a comprehensive study of regionalism that was conducted by a joint team of economists and economic development specialists for the Economic Development Administration (EDA). The project consisted of two main activities: an examination of the factors associated with economic development success and the creation of a practical interactive tool for EDA project assessment and comparison. Findings from surveys, interviews, and project case studies are discussed in terms of their support for a positive relationship between successful economic development efforts and factors such as leadership and private investment. Also, the authors discuss the creation of a quantitative assessment model utilizing well-known approaches such as economic impact multipliers and cluster theory. The primary contribution of this work to the existing body of EDA-focused research and evaluation literature is introducing a means of using standardized scores, also known as z-scores, to compare and assess economic development projects across both industries and regions

An Assessment of EDA\u27s Partnership Planning Program

This report examines EDA‘s Partnership Planning Program, which consists of Economic Development Districts (EDDs) and the Comprehensive Economic Development Strategies (CEDS) they are required to create, and provides recommendations as to how the program could be improved to lead effective regional development strategic efforts