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Cuyahoga County Approves Five-Year 2020-2024 Economic Development Plan with COVID-19 Recovery Plan
Contacts:
Miranda Kortan: (216) 698-2546; mkortan@cuyahogacounty.us
Recovery Plan Offers Strategic Goals to Rebuild the County Amid COVID-19
CUYAHOGA COUNTY, OH - Cuyahoga County Council today approved a one-year COVID-19 Economic Development Recovery Plan, endorsed by the Cuyahoga County Economic Development Commission, as part of the County’s five-year economic development plan. The recovery plan addresses both the current economic downturn formed by the impact of the COVID-19 crisis and the historic harmful economic impact of structural racism.
The plan, which was drafted by the County’s Department of Development, offers strategies that Cuyahoga County and its partners will utilize to drive economic recovery during a period of one year, July 2020 through July 2021. The plan was added as an amendment to Cuyahoga County’s 2020-2024 five-year economic development plan. The one-year Recovery Plan outlines the work of the County's economic development ecosystem, which is stated within the five-year plan, with a specific focus on increased diversity, equity, and inclusion through four new strategies and goals.
“COVID-19 has devastated our economy, with particular harm to the hospitality and service sectors. As of April 2020, our unemployment rate was 23 percent. These economic conditions require a laser focus on strategies to drive our economic recovery in the near term,” said Cuyahoga County Executive Armond Budish. “As this crisis has further exposed the deep disparities in our systems, we now have an unprecedented opportunity to right those wrongs through our economic development policies and practices. The strategies laid out in the COVID-19 recovery plan will help the County emerge stronger when the economy fully reopens. We will be prepared to capitalize on our strengths and will continue to play a lead role in improving the lives of all our residents.”
The primary goals of the Recovery Plan are to:
The one-year immediate foci of the plan include:
The plan also includes an approach to continue to build Cuyahoga County’s economy post-COVID-19 beginning next year and continuing into the 2021 five-year plan. To attract new businesses, residents, and tourists to the region, a national marketing strategy will be developed to present Cuyahoga County’s strengths locally and nationally, improve national visibility, increase local business growth, and attract other business opportunities to the County.
About the Cuyahoga County Economic Development Commission:
The Cuyahoga County Economic Development Commission works with the County Executive and County Director of Development in preparing and presenting to the County Council an annual proposed five-year economic development plan for Cuyahoga County. This five-year plan identifies areas of development opportunities to by carried out by the County itself, and opportunities to be achieved in partnership with private agencies and organizations. The Commission’s goal is to enhance the prosperity and well-being of Cuyahoga County through innovative development strategies and initiatives.
Miranda Kortan: (216) 698-2546; mkortan@cuyahogacounty.us
Recovery Plan Offers Strategic Goals to Rebuild the County Amid COVID-19
CUYAHOGA COUNTY, OH - Cuyahoga County Council today approved a one-year COVID-19 Economic Development Recovery Plan, endorsed by the Cuyahoga County Economic Development Commission, as part of the County’s five-year economic development plan. The recovery plan addresses both the current economic downturn formed by the impact of the COVID-19 crisis and the historic harmful economic impact of structural racism.
The plan, which was drafted by the County’s Department of Development, offers strategies that Cuyahoga County and its partners will utilize to drive economic recovery during a period of one year, July 2020 through July 2021. The plan was added as an amendment to Cuyahoga County’s 2020-2024 five-year economic development plan. The one-year Recovery Plan outlines the work of the County's economic development ecosystem, which is stated within the five-year plan, with a specific focus on increased diversity, equity, and inclusion through four new strategies and goals.
“COVID-19 has devastated our economy, with particular harm to the hospitality and service sectors. As of April 2020, our unemployment rate was 23 percent. These economic conditions require a laser focus on strategies to drive our economic recovery in the near term,” said Cuyahoga County Executive Armond Budish. “As this crisis has further exposed the deep disparities in our systems, we now have an unprecedented opportunity to right those wrongs through our economic development policies and practices. The strategies laid out in the COVID-19 recovery plan will help the County emerge stronger when the economy fully reopens. We will be prepared to capitalize on our strengths and will continue to play a lead role in improving the lives of all our residents.”
The primary goals of the Recovery Plan are to:
- Reduce unemployment
- Reduce poverty, particularly in communities of color
- Invest private and public sector capital intentionally and strategically to achieve equitable growth
- Invest in target industries and sectors that will be essential in a post-COVID-19 environment
- Continue to sustain a sense of system collaboration and urgency that has been fostered because of COVID-19
The one-year immediate foci of the plan include:
-
Continued investment in support of small and minority businesses and residents
- Complete a comprehensive analysis to create a better alignment of strategies and deployment of capital to support small business growth and job creation.
- Investing in and expanding innovation
- Work with key partners to create a plan on how to invest in, support, and build out innovation initiatives such as supporting the work of the Cleveland Innovation Project.
- Accelerating and scaling existing workforce initiatives to reduce unemployment
- Partner with Ohio Means Jobs to develop clear metrics that can showcase how to eliminate the gap between in-demand jobs and residents.
- Continue to collaborate with ecosystem partners to advance initiatives like the Paradox Prize and the Job Hubs Strategy, which focus on addressing the disparities of unemployment that are associated with job access and transportation barriers.
The plan also includes an approach to continue to build Cuyahoga County’s economy post-COVID-19 beginning next year and continuing into the 2021 five-year plan. To attract new businesses, residents, and tourists to the region, a national marketing strategy will be developed to present Cuyahoga County’s strengths locally and nationally, improve national visibility, increase local business growth, and attract other business opportunities to the County.
About the Cuyahoga County Economic Development Commission:
The Cuyahoga County Economic Development Commission works with the County Executive and County Director of Development in preparing and presenting to the County Council an annual proposed five-year economic development plan for Cuyahoga County. This five-year plan identifies areas of development opportunities to by carried out by the County itself, and opportunities to be achieved in partnership with private agencies and organizations. The Commission’s goal is to enhance the prosperity and well-being of Cuyahoga County through innovative development strategies and initiatives.
