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Fund for Our Economic Future Awards $5.3 million to Region's Business-development Groups

Wednesday, June 16, 2010

Excerpt of story provided by Plain Dealer
Written by Tom Breckenridge


The Fund for Our Economic Future has promised grants of up to $5 million to six key economic development groups, a commitment that's down 25 to 30 percent from years past, a future fund official says.

Those six anxious groups will now look to the Cleveland Foundation to cover the funding shortfall, possibly by the end of the month...

...The others in that group were BioEnterprise, which fosters growth of bioscience companies, $1.1 million; JumpStart, which helps grow high-potential companies, $1.3 million; MAGNET, which advocates for the manufacturing sector, $434,000; Minority Business Accelerator 2.5+, which aids minority-owned companies, $750,000; and NorTech, which helps grow the region's high-tech industries, $633,000...
 
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