CLEVELAND – Cuyahoga County Executive Armond Budish announced that Cuyahoga County recently purchased $3 million in Israel bonds bringing total holdings to $16 million.

“Our return on Israel bonds has been outstanding,” said Budish. “Maintaining our holdings in Israel bonds is one of the best ways to strengthen Cuyahoga County’s financial outlook for the long-term.”

Cuyahoga County is among several Ohio counties that have invested in Israel bonds, along with the Ohio Treasurer of State.

Cuyahoga County first established a $5 million investment in Israel bonds in 2006. This is the seventh purchase of Israel bonds by Cuyahoga County since the initial purchase.

Israel bonds were first issued in 1951 and have enabled the development of all areas of Israel’s economy. To date, more than 95 state, municipal and public employee pension funds and treasury funds have invested over $3.5 billion in Israel bonds.

Development Corporation for Israel, commonly known as Israel Bonds, is a broker-dealer that underwrites securities issued by the State of Israel in the United States. Proceeds from the sale of bonds have played a decisive role in Israel’s rapid evolution into a groundbreaking, globally emulated leader in high-tech, cleantech and biotech.