UPDATE: Check out Mayor Jackson's full state of the city speech at the end of this story.
Positive growth, economic disparity, some school improvements, dwindling revenues.
These are among the highs and lows Cleveland Mayor Frank Jackson hit upon today in his 11th State of the City address.
Mayor Jackson says the city is poised to be great, highlighting this summer’s Republican National Convention. But he says -- despite better graduation rates and reading skills -- the city’s schools have a long way to go.
He pointed to a revenue shortage that could mean service cuts next year without approval of an income tax increase. And he called on private investors to take more risks on projects in poor neighborhoods, and touted a $25 million city fund to help leverage private dollars for those areas.
“We have to change our investment strategy and change our investment model to make these neighborhoods achieve economic growth. We’re working on a new model that will allow for this public investment and better ensure this investment will create economic growth.”
After the address, City Councilman Zack Reed said private investors will not consider poorer neighborhoods until the violence problems are solved. Jackson called it a “chicken and egg” problem because more jobs created through investment, along with better education, are keys to reducing crime.