Silverlode's annual economic impact study for JumpStart Inc. shows the startups and small businesses supported by JumpStart and its partners contributed $1.2 Billion of economic output to Ohio's economy in 2021. The study emphasizes the contributions of companies led by Black, Hispanic/Latino, and female entrepreneurs.
Congratulations to our clients, Millennia Housing Development, Kaufman Development, and Uptown Mentor, who are among the first recipients of Ohio Transformational Mixed-Use Development (TMUD) tax credits. Awards of the first annual round of tax credits were announced today.
Millennia was awarded the TMUD incentive for its Centennial redevelopment project in downtown Cleveland, Kaufman was awarded the incentive for the second phase of its Gravity development in downtown Columbus, and Uptown Mentor was awarded the incentive for its Uptown Mentor development in downtown Mentor.
Nature's Touch Frozen Foods will invest $40.3 million to expand an InterChange Group facility to become a 126,000 square-foot, state-of-the art, environmentally sustainable production facility in Virginia. The investment will create 67 jobs in Warren County. Silverlode assisted the companies with the crafting of a public-private partnership to support their continued growth in Virginia.
Cleveland Clinic reported $34.55 billion of economic activity in the U.S. in 2019. Silverlode conducts economic and fiscal impacts for Cleveland Clinic every three years. The most recent study was published in collaboration with Cleveland Clinic's 100th anniversary celebration. See a summary of Silverlode's economic and fiscal impact study here: A Vital Force in Ohio's Economy
Ohio's craft breweries supported 8,300 jobs and generated an estimated $100 million in state and local taxes in 2020, despite struggling with state-mandated taproom closures, restricted alcohol sales, workforce challenges, and numerous other challenges. Silverlode's most recent OCBA study highlights the magnitude of this small-business industry and its estimated $881 million of economic activity in Ohio.