Economic trends – Page 4

Seeds & Sprouts 34 – McKinsey moving atop Key, Dunham Tavern adding green infrastructure, Brooklyn Polish hall to host Encompass Health, Nia’s Cafe to open on Kinsman

Ken Prendergast / February 22, 2024

In this 34th installment of Seeds & Sprouts, we cover McKinsey & Co’s planned move to near the top of Key Tower, Dunham Tavern & Gardens adding green infrastructure, Brooklyn Polish American Home to host Encompass Health’s first foray into Northern Ohio, and Nia’s Cafe & Store plans open on Kinsman Avenue in Mount Pleasant.

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CLE Consulting Firm leaving Downtown for MidTown

Ken Prendergast / February 21, 2024

CLE Consulting Firm, a growing provider of business accounting and tax services, has reached a purchase agreement to acquire the Euclid Gallery Building, 7029 Euclid Ave. in Cleveland’s MidTown neighborhood, public records show. The faded masonry building will reportedly be renovated as the new headquarters for the company which also has offices in Akron, Cincinnati, Columbus, Toledo and Atlanta.

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Haslams keep options open for Brook Park site

Ken Prendergast / February 16, 2024

NEOtrans’ scoop last week that the owners of the Cleveland Browns are reportedly buying a 176-acre parcel in suburban Brook Park led to a flurry of discussion about what that means since the sources didn’t say why. The most obvious speculation is that the land is for a new stadium venue for home games for the National Football League franchise. But that may be only partly true. Instead, one option is to apparently use it as part of a land trade for a stadium.

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Cleveland getting 10 new nonstops from Frontier Airlines

Ken Prendergast / February 15, 2024

New nonstop air service from Cleveland Hopkins International Airport (CLE) will be offered by Frontier Airlines to 10 additional destinations starting this May. Those destinations include New Orleans, Jacksonville, Houston, Myrtle Beach, Austin, Charleston, Savannah, Salt Lake City, Pensacola and Baltimore.

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Cleveland wins grants for Public Square, Ohio City public spaces

Ken Prendergast / February 14, 2024

A pair of $100,000 grants were awarded to improve two public spaces in Cleveland that are visited by people from throughout the metropolitan area and beyond. The grants were awarded by the New York City-based Project for Public Spaces from funding originally provided by the General Motors Corp. to offer more inclusive, welcoming environments.

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Cleveland AGA Building to fuel start-ups

Ken Prendergast / February 13, 2024

Like many of Cleveland’s historic but vacant commercial buildings, the former American Gas Association (AGA) laboratory in Cleveland’s St. Clair-Superior neighborhood is about to get renovated for a new use. Unlike many other buildings, this one isn’t being converted into apartments. Instead, its new uses are intended to create long-term jobs and new businesses, especially among young women and minorities.

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Port of Cleveland OKs $32M in site upgrades

Ken Prendergast / February 10, 2024

Cleveland’s international water port took a significant stride this week toward the future as its board approved the allocation of $32.1 million in federal and state grants to help rehabilitate and modernize a key warehouse and upgrade electrical infrastructure at its General Cargo Terminal. This strategic move will ensure ongoing efficiency of port facilities and prepare the port for upcoming electrification efforts.

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The downtown tower that almost was

Ken Prendergast / January 13, 2024

High construction and financing costs along with a longer move-in timeline doomed an intriguing new Downtown Cleveland headquarters building for a growing tech firm relocating from Mayfield Heights. Those construction market headwinds along with the rise in remote working led to Park Place Technologies finding an existing office campus next to Interstate 271 in Highland Heights near its current offices that fit its needs like a glove.

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Cleveland seeks urban core tax-increment financing district

Ken Prendergast / January 9, 2024

Cleveland’s biggest source of tax base is its downtown which supports services and infrastructure in the rest of the city. City officials are seeking to leverage investments in its urban core to create a feedback loop to support downtown and other neighborhoods. But not everyone is convinced this is a good thing for the rest of the city and cynics are seeking more information and research before deciding.

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Blue Abyss lands next to NASA Glenn

Ken Prendergast / January 9, 2024

A Cornwall, UK-based company called Blue Abyss Diving Ltd., has acquired land in the Cleveland suburb of Brook Park for a $250 million commercial astronaut training facility and hotel, according to public records and a press release from the company. According to an economic impact study commissioned from Kent State University, the British company’s investment here after 30 years could create or support up to 21,800 jobs, add $1.5 billion to residents’ incomes and increase total economic output by $3.6 billion.

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