Fund for Our Economic Future March 2010 Newsletter

1. F U N D F O R O U R
E C O N O M I C F U T U R E
March 2010 Members Newsletter
Members Approve $7.8 Million
Grant Budget For 2010
At the March 3 Funders Committee meeting, members of the Fund for Our
Northeast Ohio by Economic Future approved a 2010 grantmaking budget of $7,810,000 to continue
the Numbers support of regional efforts that strengthen Northeast Ohio’s economic competitiveness.
The Fund is scheduled to consider awarding grants in June to the following six
regional economic development initiatives:
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Vote Yes on Issue 1
and renew the Third Frontier
initiative
1,200
General Motors
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recently added 1,200
workers in Lordstown
155 Ford Motor Co.
will invest $155 million at
its Brook Park facility
“The region’s philanthropic organizations, individually and through the Fund for
Our Economic Future, are committed to supporting efforts that grow companies, attract
investments and create jobs,” said David Abbott, chairman of the Fund and executive
director of The George Gund Foundation. “Since 2004, the Fund has been a strong
advocate for developing a collaborative, regional approach to the economic challenges
and opportunities in Northeast Ohio, and we will continue in that role in 2010 and
beyond.”
The Fund’s third, three-year phase began on March 1. Over the next three
years, the Fund anticipates having a grantmaking budget of approximately $20.5 million,
which is 12% smaller than the $23.2 million in grants the Fund awarded in the
previous three-year phase.
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2. GAR, Burton D. Morgan Foundations
Commit to Phase 3
GAR Foundation and The Burton D. Morgan Foundation have pledged
$1.5 million and $150,000, respectively, for the continued support of the Fund for
Our Economic Future. Both grants, which will be paid over three years, reflect the
foundations’ longstanding commitment to regional economic development.
“The Burton D. Morgan Foundation has played an important role in helping
to shape the Fund’s entrepreneurship agenda over the last six years,” said Deborah
Hoover, president of The Burton D. Morgan Foundation. “Through our commitment
Northeast Ohio by
to Phase 3 of this vital initiative, we look forward to contributing not only financial
the Numbers resources, but also leadership and expertise to advance the Fund’s work.”
Both foundations have devoted substantial time and effort to the leadership
250,000
of the Fund, including GAR Foundation President Robert Briggs’ tenure as the first
JumpStart invested
chairman of the collaboration.
$250,000 in Melody Management, “The Fund’s focus on truly strategic objectives with a strong collaborative
a software firm serving the approach to economic development is unprecedented locally, and rare on a national
music industry scale,” said Briggs. “Recognition of the Fund’s success has grown, and plays an
increasingly important role in bringing national foundation attention and resources to
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the region, as evidenced by recent interest in the Fund by the Joyce and Surdna
foundations. We at GAR really value the leverage our support provides for the region.”
The Fund aims to attract at least $15 million for the new three-year phase of guiding
The North Coast Angel
and spurring the region’s economic growth. “While significant progress has been
Fund plans to finance
made, much transformative work remains to be accomplished,” Hoover said.
three more companies over the
For Phase 3, which formally began March 1, the Fund has raised $9,781,500
next three months
from 32 members and five participants.
4
For the fourth straight year,
Ohio is the winner of Site
Selection magazine’s Governor’s
Cup for being the busiest state
for economic development
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3. EfficientGovNow Round 2 Attracts
Widespread Interest
The Fund for Our Economic Future’s continuing effort to encourage government
collaboration, EfficientGovNow, has received a strong response from Northeast Ohio
governments. Ideas for collaborative projects between at least two Northeast
Ohio government entities were due on February 26 to be eligible for round 2 of
EfficientGovNow. The Fund, which will award as much as $330,000 total to as many as
four projects, received 50 abstracts.
“With local governments across 15 counties participating, we are tremendously
Northeast Ohio by
encouraged by the number of leaders who are ready to step forward to find a better,
the Numbers more collaborative way to provide public services,” said Brad Whitehead, president of
the Fund.
18.7
Over the past few months, the Fund staff and partners at Kent State
University have traveled around the region talking about the program and encouraging
OneCommunity received $18.7 governments to apply. The response has been overwhelmingly positive.
million in stimulus money to help
The government collaboration ideas submitted in the second round of
poor residents in Ohio and four
EfficientGovNow cover an array of collaboration and efficiency opportunities ranging
other states get high-speed Internet
from regional information technology systems and green energy to shared facilities
access and learn to use it
and storm water systems.
“The response to EfficientGovNow continues to tell us that the opportunity for
300,000
collaboration and cooperation is everywhere,” said Whitehead.
The first occupant secured
A committee is examining the abstracts to ensure that they meet the requirements
for the Mills Business Park in
of focusing on implementation (not planning) and demonstrating how some or all cost
Canton, Medline Industries, plans
to construct a
savings will be used to further increase economic competitiveness. After reviewing all
300,000 sq. ft. facility qualified project ideas and inviting full proposals, the Fund will announce the round
two finalists on April 30 and public voting will take place from May 1 through May 31.
2
The Fund will announce the award recipients in early June. For more information, visit
www.efficientgovnow.org.
Wayne County ranked as the
second-most active micropolitan in
the country for 2009, matching
its highest-ever ranking in Site
Selection magazine
With the support of a grant from the
John S. and James L. Knight Foundation, EfficientGovNow is
producing news stories and other material to increase public awareness
of the government collaboration proposals. To add to existing efforts, award-
winning journalist Bob Paynter has been retained to cover the progress of
the program. Find his stories and more at www.efficientgovnow.org.
The Fund plans to further expand journalism and citizen engagement
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efforts beyond the EfficientGovNow program later this year.
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March 2010 Members Newsletter

4. MBA 2.5+ Portfolio Company Closes
$3.7 Million Subcontract
Price Builders & Developers, a Minority Business Accelerator 2.5+ portfolio
company, has landed a $3.7 million subcontract for a 2,080-car parking garage to be
Northeast Ohio by
built near the Louis Stokes Cleveland VA Medical Center. Price Builders, which provides
the Numbers
general contracting and construction management services, as well as self-performing
2
interior finishes, will perform rebar installations for the project.
The Stark-Tuscarawas-Wayne In business since 1999, Price Builders’ President David Price credits the MBA
Joint Solid Waste Management
2.5+ with helping to improve management practices, as well as increase access to
District has asked the federal
valuable contacts and tools.
government for $2 million
Recently, Price Builders completed iron work for the new University of Akron
to develop a small-scale
fuel cell to use methane gas to
football stadium and major projects at the Cleveland Clinic, University Hospitals and
generate electricity University Circle.
Fund Welcomes New Members to
Steering Committee
At the quarterly Funders Committee meeting, three new members were elected
to the Fund’s Steering Committee as at-large members:
Stuart Cordell
As a partner at Warren and Young PLL, Stuart practices in the areas of business
Stuart Cordell
Partner, law, corporate law, real estate law, probate and estate planning. He is a member of
Warren and Young PLL the Cleveland Bar Association, trustee of the Ohio State Bar Foundation, member of
the Council of Delegates of the Ohio State Bar Association, president of the Civic
Development Corporation of Ashtabula County, and trustee of the Growth Partnership
for Ashtabula County.
Sandra Hodge
As special assistant for community & government relations at Oberlin College,
Sandra plays an important role in the college’s work with the city of Oberlin, the
Oberlin Public Schools, community organizations, the state of Ohio, and the federal
Sandra Hodge government on education, environmental, economic development and partnership
Special Assistant Community & initiatives. She has a long history of civic engagement and currently serves as vice
Government Relations,
Oberlin College chair of the Allen Community Hospital Board of Directors. Sandra has also served as
a member and vice chair of the Oberlin City Council.
John Sherwin Jr.
The president of the Sherwick Fund of the Cleveland Foundation, Jack has
been active with the Fund from the beginning. He is president of Mid-Continent
Ventures and has served Northeast Ohio on many nonprofit boards, including the
Cleveland Clinic, Holden Arboretum and John Carroll University. He also helped
establish the Lake-Geauga Fund of the Cleveland Foundation.
John Sherwin Jr. A fourth at-large member of the Steering Committee will be elected at a future
President,
Sherwick Fund of the Cleveland Funders Committee meeting.
Foundation
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