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Economy and Business


Organizations awarded $30 million, plan to invest in Cleveland
Cleveland Development Advisors is focusing on local restoration and job creation
by WKSU's AMY COOKNICK

Reporter
Amy Cooknick
 
The Euclid Corridor is just one of the projects CDA is looking to address.
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In The Region:
A Cleveland business financing organization is once again the recipient of $30 million in federal New Market Tax Credits.

This is the fourth year since 2003 that Cleveland Development Advisors -- which promotes economic development in Cleveland through private capital and federal tax credits- - is being recognized for its community improvement efforts.

To date, the organization has used its tax credits to finance 25 local projects. Combined, those projects have added 4,000 permanent jobs, 917 housing units, 670,000 square feet of retail space, 1.2 million square feet of office space and 450,000 square feet of industrial space to the Cleveland area.

The development association is an affiliate of the Greater Cleveland Partnership. It announced in a press release that it plans to focus the $30 million on revitalization projects in the NineTwelve District and the Euclid Corridor, and on job creation in Cleveland and Cuyahoga County.

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