Economic trends

Trending News in Northeast Ohio jobs, economy, labor, immigration, and population

Shaker Square sees $4.5M in updates, more planned

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Two years ago this month, Cleveland Neighborhood Progress (CNP) and Burten, Bell, Carr, Inc. (BBC) acquired Cleveland’s historic but faded Shaker Square mixed-use district. Today, the new owners outlined what they considered to be significant work and investment in making capital improvements to the property and carrying out a retail strategy to restore vibrancy to the square.

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A strategic perspective of the Cleveland Browns Stadium

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The Cleveland Browns have long been a cornerstone of Greater Cleveland, symbolizing community pride and excitement, and contributing to the local economy and cultural identity. While the current debate around the Browns’ future stadium is heavily focused on facility location and financial issues, it is crucial to recognize the team’s non-economic benefits, such as fostering civic pride, quality of life, regional unity, and shared traditions that bring people together.

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Downtown Cleveland Inc. takes over management of Public Square

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Cleveland City Council has passed legislation transferring the management, marketing and programming for Public Square to Downtown Cleveland, Inc., effective upon Mayor Justin Bibb’s signature. This transition underscores Downtown Cleveland’s ongoing commitment to revitalizing the core and builds on the organization’s recent successes in securing significant funding for Public Square enhancements.

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Glenville-Collinwood site may finally get new life

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It’s a factory name that conjures thoughts from classic Road Runner cartoons. But few are laughing from the enduring health and economic burdens that the long-closed National Acme plant, 170 E. 131st St., is having on Cleveland’s East Glenville and Collinwood residents. Once one of Cleveland’s largest blue collar employers, its fate is similar to that of other aging industrial properties across the city.

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Cleveland, other climate havens win Bloomberg bucks

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Cleveland was selected today by Bloomberg Philanthropies as one of 25 U.S. cities to join Bloomberg American Sustainable Cities (BASC) and be the recipient of $200 million divided roughly equally among them. BASC is a three-year initiative designed to leverage historic levels of federal funding to incubate and implement transformative local solutions to build low-carbon, resilient, and economically thriving communities.

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Adding ridership generators to the Waterfront Line

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Over the next two months, a Cleveland State University study will identify untapped lands in Downtown Cleveland along the inactive light-rail Waterfront Line and consider how to encourage their development for the benefit of the lakefront and the transit line. The findings could ultimately be incorporated into the city’s lakefront plan which has yet to be finalized.

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North Coast Waterfront Development Corp. names its first executive director

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Over the decades, one of the biggest barriers to developing Downtown Cleveland’s lakefront with public and private amenities was the lack of a staff dedicated to that purpose. That barrier began to come down today with the hiring of the first staff-person to lead the new North Coast Waterfront Development Corporation (NCWDC).

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Royal Docks Brewing comes to Cleveland

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In a couple of months, Stark County-based brewpub chain Royal Docks Brewing Company plans to expand to Cleveland by opening a location in Ohio City’s booming Hingetown neighborhood. Ohio City is a community with a half-dozen brewpubs already in operation. But with their planned Royal Docks Tied House + Kitchen, the proprietors are confident they can offer something the others don’t.

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Jones Day’s downtown offices on the move?

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Aside from a few rarities like Sherwin-Williams, not many corporate citizens stay in one office building for multiple decades. They are constantly growing or shrinking, their buildings get new owners, their corporate culture changes, or their biggest clients move. Another rarity is Cleveland’s largest law firm, Jones Day, which is entering its fourth decade in the same building, 901 Lakeside Ave., called North Point I.

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Downtown office tower bucks residential trend

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Since actions speak louder than words, the rumors of the 22-story office tower 1100 Superior Ave. turning residential are getting shouted down. The louder message is coming from the building’s owner who is re-signing existing office tenants and attracting new ones, despite recent tenant losses and other hardships. The actions are likely the result of a short-term strategy resulting in another sale, however.

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