Knight Foundation Comes Through for NE Ohio

NE Ohio's foundations are coming through with important investment dollars needed to catalyze regional economic improvement.

Two leading business organizations in Northeast Ohio have been selected to carry out the first phase of a multimillion-dollar investment to strengthen the local economy by growing and keeping jobs. Team Northeast Ohio and the Greater Akron Chamber will use grants from the John S. and James L. Knight Foundation toward efforts to increase economic development – a critical community issue identified by a committee of local Knight advisers.

“The regional economy has struggled. The job and wage growth in Northeast Ohio lags behind the nation and competitor regions,” said Vivian Celeste Neal, Knight Foundation’s program officer for Akron. “These grants will help improve the region’s quality of life.”

Team NEO, a coalition of the region’s leading business organizations serving 13 counties, will use a $1.5 million grant from Knight to increase the number and quality of job opportunities; the amount of private investment; the number of business inquiries in the region; and the quality and quantity of business services to existing industries in Northeast Ohio. The grant also will help Team NEO build a marketing plan and develop its research capacity.

Team NEO formed earlier this year to attract business, retain business and expand job opportunities. The Knight grant goes toward the $7 million projected to run the organization over the next three years. Team NEO’s founding partners already have contributed $3.4 million to the project and have pledged to raise the remaining $2.1 million.

Another grant, $250,000 to the Greater Akron Chamber, will enhance plans for the Summit County Workforce Development One-Stop Employment Center. The center’s mission is to maximize employment and economic opportunity in the county by being the key resource for every job seeker and employer.

Thank you Knight Foundation and congratulations Team NEO and Greater Akron Chamber.

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