Team NEO to Award $3 Million to Spur Job Growth in Ohio

The largest grant is for a joint program involving Greater Cleveland Partnership, Team Lorain County, Youngstown-Warren Regional Chamber, Stark Development Board and Greater Akron Chamber.



As the new regional office in Northeast Ohio for the JobsOhio business development program, Team NEO is preparing to award grants totally $3 million for six proposals to stimulate job growth and economic development in the region, Crain’s Cleveland Business reports.

The largest grant ($2 million) will go to a joint regional retention and expansion program involving five groups — Greater Cleveland Partnership, Team Lorain County, Youngstown-Warren Regional Chamber, Stark Development Board, and the Greater Akron Chamber.

The Wayne Economic Development Council will receive two grants, including $150,000 to build the region’s agricultural bioscience business sector and $125,000 for an effort to attract foreign investment in the region by giving foreign investors the opportunity to obtain green cards for themselves and their families under the federal EB-5 program.

Team NEO would receive $475,000 for its business attraction strategy that targets companies in high-growth industry sectors; 
Early-stage investment organization JumpStart Inc. would receive $125,000; and Richland Community Development Group would be given $100,000 for its business retention and expansion activities.

 

Daily News, Economic Development

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