Crain's Cleveland Business

PPP 2.0 Second phase of loan program is improved, but many business owners are playing the waiting game. PAGE 4

AGENDA UNVEILED Greater Cleveland Partnership’s public policy plan is an advocacy roadmap for investment. PAGE 6

CRAINSCLEVELAND.COM I February 1, 2021

CRAIN’S SPECIAL REPORT

A FOCUS ON THE DIGITAL DIVIDE IS A FOCUS ON EQUITY

``BY RACHEL ABBEY MCCAFFERTY | In March 2020, our

community pressed pause and went home.

Almost overnight, people were being asked to work, learn, bank, shop and socialize all from home.

For those with reliable access to computers and the internet, it was a manageable shock. But what about those without?

The pandemic brought to light a problem that has existed for years, but one that many have been able to ignore.

That’s no longer the case.

This year, Crain’s Cleveland Business will examine the digital divide — the economic, educational and social inequities between those who have computers and online access and those who do not — taking a look at how it affects the day-to-day lives of the members of our community. Throughout the year in special sections, we’ll look at how the issue affects the areas of education, workforce development and more.

See DIVIDE on Page 12

ANDREA UCINI FOR CRAIN’S CLEVELAND BUSINESS

Crain’s yearlong series will examine the economic, educational and social inequalities between those who have computer, online access and those who don’t

TODAY’S INSTALLMENT: THE DIGITAL DIVIDE’S ROLE IN K-12 EDUCATION INEQUITY | PAGE 10

CLEVELAND INNOVATION DISTRICT

JobsOhio innovation partnership is piece of broader bid for economic reinvention

Health, education institutions unite with big money, lofty goals

BBY MICHELLE JARBOE

BBY LYDIA COUTRÉ

A $565 million research and education partnership unveiled last week — with the goal of creating 20,000 jobs and billions of dollars of economic impact in Cleveland over a decade — is a major milestone in a

broader push to reposition the region for growth.

When the heads of three major hospitals and two universities joined Gov. Mike DeWine and other public officials Monday, Jan. 25, to announce a novel collaboration, they revealed the product of a year’s worth

NEWSPAPER

VOL. 42, NO. 4 l COPYRIGHT 2021 CRAIN COMMUNICATIONS INC. l ALL RIGHTS RESERVED

of negotiations. That announcement also came at a unique moment, in the middle of a global pandemic that has highlighted health disparities and lent more focus to efforts to chart a new path for Greater Cleveland’s long-flagging economy.

Through deals with JobsOhio, the state’s private economic development corporation, the institutions are agreeing to hire, recruit and train thousands of workers; boost research spending; spur more spinoff companies; lure major employers to establish a presence in the region; and improve the neighborhoods around them through investing in people and places.

See DISTRICT on Page 18

P001_CL_20210201.indd 1

Challenging a long history of rather sporadic collaboration efforts, three health systems and two universities have forged a $565 million partnership to spark innovation and economic growth.

Cleveland Clinic, University Hospitals, MetroHealth, Case Western Reserve University and Cleveland State University are working together to form an innovation hub with ambitious plans to create more than 20,000 jobs in the next decade, accelerate discoveries, grow research spending, build and attract businesses, and more.

Beyond the substantial investment and lofty end goals, the alli-

ance is remarkable for the institutions’ ability to unite in a broad and meaningful way. COVID-19 forced the competitors to work together, proving that not only is such collaboration possible, but it is beneficial and, in a global pandemic, pressingly vital.

“Conjuring and proposing an aligned innovation ecosystem for the five of us was a laudable end goal concept — a little harder to accomplish in an environment that candidly hasn’t always put its bet collaboration foot forward,” said David Sylvan, president of UH Ventures, the innovation arm of University Hospitals.

See PARTNERSHIP on Page 19

1/29/2021 3:01:05 PM

ENTREPRENEURSHIP

Entrepreneur sees a business angle for startup in pandemic Former Clinic director of wellness launches software company that assists employers’ mental health initiatives

BY JAY MILLER

Certainly she couldn’t have anticipated it, but entrepreneur Jennifer Hunter sees a role for her nearly 2-year-old business, Emvitals Inc., in easing the emotional stresses aggravated by the COVID-19 pandemic — maybe even helping people cope with the recent clash at the U.S. Capitol.

Hunter, a mental health therapist by training, is building a software business that is designed as a component of corporate wellness and employee assistance programs. Emvitals is an entry point to an online wellness or employee assistance program for someone seeking help with a mental health issue. It’s used to measure and track an individual’s emotional health, helping both employers and employees identify and manage conditions that lead to increased health care costs, reduced productivity, absenteeism and disability.

Employee Benefit News considers mental health benefits as an employee benefit of growing importance. It said in a report that workers contending with mental health disorders cost the United States between $483 billion to $605 billion a year in lost productivity.

Having debriefed police officers and firefighters who’ve witnessed murders and other violent deaths, Hunter is familiar with the processes people go through as everyday events in their

lives create stress.

“The same is true with the pandemic, when we hit that six-month mark in July or August, that’s where you really saw a lot of the mental health (issues) tick Hunter up because stress is additive and it’s cumulative,” she said in a telephone interview. “So many people were vulnerable heading into that pandemic. People, the majority of our society, live in a state of chronic low emotional health, just living on the edge. So there are so many people who just tipped over during this pandemic.”

Hunter reacted similarly to what happened Jan. 6 at the Capitol.

“When I saw the Capitol insurgency insurrection, what I knew is that all of those political folks were experiencing a traumatic event and what is a very normal reaction to when your life is threatened,” she said.

The Emvitals program is an instrument that measures, reports and tracks an individual’s emotional condition. It’s designed to be at the front end of a wellness program and to paint a picture of an individual’s emotional health. It’s meant to be the gateway into consultation with a mental health professional to create a plan of action that could include short-term counseling, substance

abuse treatment and psychiatry.

“The issue is that emotional health literacy is so low in our country,” Hunter said. “People don’t know when they crossed the line. We’re so busy just trying to compensate and get through. So Emvitals, what I say is that we create ‘aha’ moments every day. We empower people with their own data. We hear, resoundingly, many people say, ‘I knew I needed help for a long time. I just didn’t know how to get started.’ ” It’s also an issue for employers, and Hunter believes it should be a higher priority.

“Mental health is the top chronic condition for any large employer,” she said. “Antidepressants are top three on every large employer’s formulary, and 62% of the time employees don’t go to work it’s because of a mental health issue.”

The Emvitals software is typically packaged with a broader wellness or employee benefits program. Among the company’s clients are Johns Hopkins Medicine’s HealthyWorks, a wellness program affiliated with the Baltimore-based Johns Hopkins Hospital and Health System, and SentryHealth, a Louisville, Ky., wellness program provider.

The results of the software’s assessment of an employee’s emotional health are seen by the employee and a company’s human resources department. From there, the employee

can be connected to available benefits and other resources.

The company partners with employers and businesses that offer broad wellness services to businesses. Its software often is a component of a larger online wellness package, sometimes offered as what Hunter describes as “white-labeled” — without the Emvitals brand appearing on the service.

“We’ve been working with Emvitals probably for about two years now. It’s an unbelievable team and (Hunter) is terrific,” said J. Kevin Porter, president and CEO of SentryHealth, which integrates Emvitals into its own product, which offers employers a wellness package that can include health and financial service support to a company’s employees.

“It’s a great partnership and a great model,” Porter said. “Our teams have worked closely over the last 24 months, and we have a lot of respect for what they do. They’re very knowledgeable; they’re experts.”

Hunter’s travel from therapist to business owner was in large part a result of her work at Cleveland Clinic, where she helped develop its wellness program. She worked there for 16 years, the last 11 as its director of wellness. She made the turn into software with mdlogix, a Baltimore behavioral health software company, before setting out on her own.

For now, her staff of six is working remotely, though she said a physical loca-

tion could be in Emvitals’ future.

Among the investors in Emvitals are JumpStart Inc. and North Coast Ventures, investing along with TCP Venture Capital of Baltimore.

Ashley Alber, an investing associate at JumpStart, the nonprofit that supports startup and young businesses, said it was the Emvitals technology that made the firm an attractive investment.

“I think about the value proposition,” she said. “I really feel strongly that Emvitals is the best technology out there to identify individuals who are at risk for mental health conditions, and that Jennifer is truly an expert in this market.

Her connections are like no other within the industry, just given her prior experience at Cleveland Clinic.”

Todd Federman, managing director of North Coast Ventures, an early stage investor, said he has seen a lot of investment activity in mental health and behavioral health technologies in the last year. He, too, was swayed by Hunter’s experience with the Clinic.

“You know, on one hand you wouldn’t expect she would be the person to build and lead a company that sells software,” he said. “But on the other hand, in this particular industry, she’s exactly the right person to have the insights and the credibility to deliver something like this.”

Jay Miller: jmiller@crain.com, (216) 771-5362, @millerjh

MARCH 23 | 4 – 5 P.M. Join Crain’s Cleveland Business as we recognize the individuals and headlines that rose above all others during the unprecedented year that was 2020. Crain’s looks to give special recognition to those who could not stay home: essential, frontline workers.

TITLE SPONSOR

MODERATOR

LYDIA COUTRÉ

Reporter, Health care/Nonprofit Crain’s Cleveland Business

JAFAR ABUNASSER, MD Pulmonary and Critical Care Cleveland Clinic

Webcast Questions: clbwebcasts@crain.com Sponsorship Information: mike.schoenbrun@crain.com 2 | CRAIN’S CLEVELAND BUSINESS | FEBRUARY 1, 2021

MIGUEL LUGO

Plant Manager/Tool Room Manager Talan Products

CHRISTINA WOODSON

Nutrition Department/Curbside shopper Mustard Seed Market

REGISTER TODAY: crainscleveland.com/newsmakerevent

HEALTH CARE

Recent deals have given UH ‘all the pieces of the puzzle’ Agreements with Western Reserve and Lake Health can strengthen the region’s health system, analysts say

BY LYDIA COUTRÉ

In the final months of 2020, University Hospitals rounded out a year of great uncertainty — financial and otherwise — with two deals that significantly expand the health system’s regional footprint.

In November, the system gained a minority interest in Western Reserve Hospital, an independent, physician-owned hospital in Cuyahoga Falls, giving UH its first inpatient location in Summit County. In December, Lake Health agreed to join University Hospitals, ending the Lake County health system’s search for a partner that began in early March, just days before the first cases of COVID-19 were detected in Ohio.

Lisa Anderson — senior vice president of member services at the Center for Health Affairs, a nonprofit advocate for Northeast Ohio hospitals — said she wasn’t surprised to see UH and Lake Health join forces given their complementary philosophies on serving the community and the market’s long trend of consolidation.

“It’s interesting it happened now because we’ve seen a lot of acquisitions and potential partnerships that we thought were going to happen (that) didn’t happen, like with Summa and Beaumont,” she said.

In May, Southfield, Mich.-based Beaumont Health walked away from

plans to bring Summa Health into its system. The two were just days away from finalizing their agreement.

“Timing’s a funny thing,” said Allan Baumgarten, a Minnesota-based independent health care analyst who studies Ohio and other markets.

He pointed to other merger plans around the country that ultimately didn’t come to closing, including Intermountain Healthcare and Sanford Health, which in December indefinitely suspended discussions. After ending plans with Summa, Beaumont went on to sign a non-binding letter of intent with Advocate Aurora Health, but months later the two agreed to end partnership discussions.

Still, some systems, just like UH, have been able to reach agreements.

Though the pandemic slowed the process, Cleveland Clinic and Sisters of Charity Health system ultimately reached a deal in December for Mercy Medical Center in Canton to become a full member of the Clinic, pending regulatory approval.

Dr. Cliff Megerian, president and incoming CEO of University Hospitals, said that though COVID-19 pushed partnership talks with Lake Health and Western Reserve Hospital to a virtual setting, the pandemic and reliance on Zoom communication “in no way hindered our ability to get these various things done.” In some ways, it made meeting and coordi-

Baumgarten

Anderson

nating schedules easier and more efficient.

“I, however, believe that we need to get back to the ability to be together,” he said. “I think there’s something that happens when people are together. It engenders even more trust; it engenders even more fellowship; it engenders more enthusiasm for workers to be next to their col-

“I THINK THERE’S SOMETHING THAT HAPPENS WHEN PEOPLE ARE TOGETHER. IT ENGENDERS EVEN MORE TRUST; IT ENGENDERS EVEN MORE FELLOWSHIP; IT ENGENDERS MORE ENTHUSIASM FOR WORKERS TO BE NEXT TO THEIR COLLEAGUES AND NEAR THEIR COLLEAGUES.” — Dr. Cliff Megerian, president and incoming CEO of University Hospitals

leagues and near their colleagues.”

Lake Health declined an interview request for this story, referring to the initial press release.

The financial pressures of 2020 — in which the Ohio Hospital Association estimates hospitals lose $6 million in revenue each day — “absolutely” gave pause to UH in its decisions, Megerian said, but some opportunities “are just no-brainers.”

Lake and UH have a long history of collaborating, including partnering on neonatal intensive care and maternal fetal medicine and in the Lake Health/University Hospitals Seidman Cancer Center, at the Lake Health Mentor Campus. Last year, UH and Lake entered an agreement for UH to be a minority member of the Lake Health Beachwood Medical Center, a full-service, acute-care hospital that specializes in orthopedics, urology, spine and pain management.

UH felt that the deals with both Lake Health and Western Reserve Hospital were accretive to its balance sheet, Megerian said.

“Although we had a tough financial year, we did better than a lot of hospitals,” he said. “We mitigated a lot of costs during the year. We ended the year still in the black, which is much lower than we budgeted, but ... a lot of my colleagues and friends around the country have finished the year greatly in the red.”

Lake Health ultimately expands and strengthens UH’s footprint on the east side, Anderson said.

Baumgarten also noted he can certainly see the appeal of Lake Health’s strong position in Lake County as UH stretches through Northeast Ohio.

The move helps to cement the system’s position east of Cuyahoga.

As the region’s hospitals further consolidate, the larger systems are able to bring advanced services and resources to invest in workforce, care and research, Anderson said.

“I think that it actually in many respects strengthens the health care system and sustains it for managing health care issues in the community, and let’s face it, we’ve got some pretty serious health care issues,” she said.

Megerian, who takes over as CEO on Feb. 1 upon the retirement of longtime leader Tom Zenty, said the Lake Health deal fits perfectly into the UH’s strategy for the coming years.

“We now have all the pieces of the puzzle, especially also with the landing spot in Summit County, which we didn’t really have an inpatient landing spot. We now have the ability to offer really nuts-to-bolts care in truly the 16-county area that we never really had before in certain sectors.”

Lydia Coutré: lcoutre@crain.com, (216) 771-5479, @LydiaCoutre

ONLINE MBA - BUSINESS ANALYTICS CONCENTRATION U.S. NEWS & WORLD REPORT, 2021

CERTIFIED COURSES FEBRUARY 1, 2021 | CRAIN’S CLEVELAND BUSINESS | 3

P003_CL_20210201.indd 3

1/29/2021 12:04:40 PM

WE KEEP IT SIMPLE, SO IT’S GRAVY! CALL YOUR LOCAL CREDIT UNION TODAY

FINANCE

PPP 2.0 still has some imperfections As Small Business Administration works through issues, ‘it’s hurry up and wait’ for many company owners

BY JEREMY NOBILE

COMMERCIAL REAL ESTATE INTEREST RATES AT ALL TIME LOWS

• Loans up to $15 Million • No Prepayment Penalties • As Little as 10% Down

CONTACT JONATHAN A. MOKRI 440.526.8700 • jmokri@cbscuso.com www.cbscuso.com

Your Business Lending Partner SM

New Shopping Center Development Mayfield Heights, OH 44124

PROPERTY OVERVIEW • Mixed use development - leasing opportunities available in extremely dense east side suburb • Out-parcels available for lease fronting Mayfield Road at corner traffic light • Medical Office and Senior Living opportunities available • Contact agents for more details and pricing www.hannacre.com

Tony Visconsi 216.861.5349 TonyVisconsi@HannaCRE.com

Michael J. Occhionero 216.861.5291 MichaelOcchionero@HannaCRE.com

Sean Wall 216.861.5498 SeanWall@HannaCRE.com

Compared to the first go-around last spring and summer, the Paycheck Protection Program seems to be functioning more smoothly since the application window reopened Jan. 11.

Yet there still are challenges presented to some borrowers and lenders. The Small Business Administration continues to work through some of these issues where it can by fixing systems and issuing guidance, but imperfections remain.

For some small business operators, like John Bikis, owner of Canton-based Royal Docks Brewing Co., grievances today largely stem from what feels like a slow pace for forgiving original PPP loans and securing funds from a second draw.

To be fair, like many in this boat, Bikis acknowledges the massive undertaking that is the PPP and the crush of applications that lenders like his — Huntington Bank — are slogging through.

“It’s really not much to do with them,” he said. “It’s just a process, and the overload of applications is bogging down the system.”

But that doesn’t necessarily ease anxieties.

“It’s hurry up and wait,” Bikis said.

“And that’s frustrating.”

The SBA has indicated that a firstdraw loan being under review could slow down processing of a second draw.

“The SBA remains focused on delivering first-draw and second-draw PPP loans as well as processing forgiveness decisions for PPP borrowers as quickly as possible,” an SBA spokesperson said. “Due to additional front-end compliance checks, a time lapse is occurring between when a lender submits a first-draw or second-draw PPP loan application to the SBA and when the SBA provides a loan number back to the lender. Lenders may only proceed to close the loan once the loan number is given.”

Huntington didn’t comment about a specific loan like the craft brewery’s, but a spokesperson noted the bank has received thousands of applications the “team is moving quickly and diligently to process.”

‘It’s all a bit frustrating’ Bikis’ business — named one of the fastest-growing craft breweries in America a few years back — pulled in about 35% of revenue that was projected pre-pandemic for 2020.

A $142,000 PPP loan last year helped him continue paying nearly 60 employees through a downturn in customer traffic. But forgiveness of that loan remains a work in progress.

And it took a week for Huntington to provide a status update on his second-draw loan, which notes simply the application is “in-process.”

That’s a bit unsettling for someone seeking relief. Bikis has been making ends meet for months now by drawing on private savings and “rubbing pennies found in the couch” to make it to February, he said.

Last year, borrowers with their paperwork in order typically progressed from filing an application to receiv-

I   

A    

T b

M  

F  

B  

Z  

C  

S A

Blake Boccuti pours a beer at the Royal Docks Brewing Co.’s Canton taproom. The business secured a Paycheck Protection Program loan in 2020, and its owner is waiting anxiously for an update on its application for a second draw. | CONTRIBUTED

“IT’S JUST A PROCESS, AND THE OVERLOAD OF APPLICATIONS IS BOGGING DOWN THE SYSTEM.” — John Bikis, owner of Royal Docks Brewing Co.

ing funding in a week or less.

It’s not that Bikis doesn’t expect to receive the loan. Not knowing when it’s coming, though, creates anxiety.

For some, the forgiveness process is proving to be a racket of its own.

Angela Dudziak, general manager of Neff Brothers RV in Lorain, called the PPP a “blessing.” The business received an $89,000 PPP loan last year through a community development corporation (CDC) and has applied for a second draw.

But Dudziak has been working through forgiveness since November, having to reapply at least once because of a change in portals and having to submit additional information

“IT’S JUST A LONG LAUNDRY LIST OF STUFF (THE SBA IS) ASKING FOR, AND I HAD TO ASK OUR ACCOUNTANT FOR HELP. IT IS ALL A BIT FRUSTRATING. BUT I THINK EVERYONE IS DOING THE BEST THEY CAN.” — Angela Dudziak, general manager of Neff Brothers RV

a couple of other times. The business, which has nine employees, subcontracts with an outside accountant, who, of course, needs to be compensated.

“It’s just a long laundry list of stuff (the SBA is) asking for, and I had to ask our accountant for help,” she said. “It is all a bit frustrating.”

“But I think everyone is doing the best they can,” she added.

Through Jan. 24, the SBA said it has approved 400,580 PPP loans, totaling $35 billion, in 2021.

Of that, 10,336 PPP loans have been approved for Ohio businesses, totaling $1 billion.

Smaller lenders challenged Some community banks and smaller lenders have had to improve their technological capabilities to service PPP loans. That includes First Federal Lakewood, which is partnering with fintech platforms Numerated and ProBank Austin to assist with processing applications on the front end and forgiveness on the back end, respectively.

The mutual bank prides itself on being a size at which it has the resources to service PPP demand but is still small enough to talk with customers directly.

Indeed, larger commercial banks have the scale to manage high demand and a large volume of applications, but they tend to move more slowly than their smaller counterparts, which have less volume to process.

Many banks, including Huntington and Cleveland’s KeyBank, reported strong fourth-quarter earnings that greatly benefited from PPP fee income. But those without that scale or resources are sitting out PPP 2.0 as

4 | CRAIN’S CLEVELAND BUSINESS | FEBRUARY 1, 2021

P004_005_CL_20210201.indd 4

P

1/29/2021 1:56:03 PM

dire side Th Gro CDC sma Kro pate The Loa for b and cati Y ic D have lend renc The to p the ope

s

s,

PPP in 2021 In Ohio:  Loans approved: 10,336  Dollars approved: $1 billion  Average loan size: $97,000 Across U.S.:  Loans approved: 400,580  Dollars approved: $35 billion  Active lenders: 4,526  Average loan size: $87,000

Top lenders by dollar amount: M&T Bank  Loans approved: 5,261  Net dollars: $718 million Fifth Third Bank  Loans approved: 3,835  Net dollars: $539 million Bank of America  Loans approved: 12,523  Net dollars: $527 million Zions Bank  Loans approved: 3,238  Net dollars: $494 million Citizens Bank  Loans approved: 9,674  Net dollars: $488 million SOURCE: U.S. SMALL BUSINESS ADMINISTRATION FIGURES AS OF JAN. 24

ing

ess, conant, pen-

stuff d to she the

has ling

have ses,

ed

and rove to First nereratwith ront end,

f on reut is cus-

anks deicamore nterpro-

direct lenders and missing that upside.

That includes longtime SBA lender Growth Capital Corp. The Cleveland CDC, a nonprofit, still operates like a small business, said president John Kropf, and it can’t afford to participate in the labor-intensive process.

The organization is having ACAP + Loan Source act as its PPP provider for borrowers seeking second draws and for processing forgiveness applications on 2020 loans.

Youngstown CDC Valley Economic Development Partners also did not have access to affordable capital to lend again at first last year, said Terrence Louk, director of SBA lending.

The organization initially opted not to participate in the PPP because of the risk. But then the Treasury opened up to allow it to borrow at a

rate in line with which it could lend, enabling Valley Partners to start processing loans in the summer.

Growth Capital, however, took out a $25 million warehouse line of credit in 2020 to fund PPP loans, providing about 300, totaling $17 million — and this was before the Treasury stepped up to help. Some loans were as small as $1,200.

Initially, the SBA program was supposed to be applicable only for expenses in an eight-week period, but that time frame was extended through the end of 2020.

While this helped borrowers, it contributes to expenses for Growth Capital, which found itself waiting much longer to file forgiveness applications. Lenders collect fees on the back end, so that extra time leads to extra expense in Kropf’s case.

“I’m still paying interest on the warehouse line, and I only made 5%,” he said. “Now my margins are shrinking, expenses are increasing and it’s just not working. We can’t participate in the second round as a direct lender because of that. It is just too expensive. And we won’t do anything we can’t at least break even on.”

Community development financial institutions (CDFIs) and CDCs that were supposed to get a week head start on filing applications in January over other lenders did end up hitting snags that slowed down the funding of loans. The Opportunity Finance Network, a national trade group representing CDFIs, argued a better rollout would have allowed for more loans to get to small businesses that really need them, including marginalized groups those agencies tend to serve.

In a letter to the SBA, OFN president and CEO Lisa Mensah lobbied for some changes to ensure timely funding for borrowers, including a dedicated time frame for CDFIs to access loan portals, updates on PPP set-asides for nonprofit and mission lenders to know how much is left for target communities, better communications from the SBA, and improved technical assistance.

Jeremy Nobile: jnobile@crain.com, (216) 771-5362, @JeremyNobile

Sleggs, Danzinger & Gill, Co., LPA

Reducing Real Property Tax Assessments Throughout Ohio And Across The United States

When you hire Sleggs, Danzinger & Gill, you work directly with Sleggs, Danzinger and Gill.

Each client is directly represented at all levels by a Partner of the firm with a combined 90 years of experience. No pyramid, no associates, no on-the-job training.

Our clients deserve the very best representation, so we structured our firm to allow each client, throughout the entire process, to work directly with Todd Sleggs, Robert Danzinger and Steve Gill. Our philosophy is to work cooperatively with school district and county officials to ensure that our clients pay the lowest possible real property tax obligations. If a fair resolution requires litigation, Sleggs, Danzinger & Gill have the depth of trial and appellate experience to handle the most complex valuation issues.

Whether the valuation relates to large industrial plants, apartments, shopping centers, warehouses, office buildings, hotels or any other type of commercial property, the attorneys at Sleggs, Danzinger & Gill will ensure that you receive the best counsel, legal advice and litigation expertise.

Most importantly, Sleggs, Danzinger & Gill wishes everyone continued health as we navigate through the Covid-19 pandemic.

Todd W. Sleggs, Esq tsleggs@sdglegal.net

Robert K. Danzinger, Esq rdanzinger@sdglegal.net

Steven R. Gill, Esq sgill@sdglegal.net

(216) 771-8990 www.sdglegal.net

Sleggs, Danzinger & Gill

820 West Superior Avenue, Seventh Floor Cleveland, Ohio 44113

ingortings fee cale 0 as FEBRUARY 1, 2021 | CRAIN’S CLEVELAND BUSINESS | 5

GOVERNMENT

GCP’s public policy agenda calls for equitable investments Two-year plan is designed as fair-minded roadmap to business recovery in wake of pandemic

BY KIM PALMER

The Greater Cleveland Partnership in its new, biennial member-driven public policy agenda calls for change from all levels of government and makes the case that equitable investment is an economic imperative for the region’s future.

“We go through this process of our members over about a six-month period to ensure that we are articulating their viewpoints for public policy that will advance our region,” said Marty McGann, GCP’s executive vice president of advocacy and strategic initiatives. “This becomes the vision for our engagement and a roadmap for advancing our region through public policy.”

The 12,000-member GCP is chiefly concerned with advocating for business-friendly policies, and the new report supports some traditional measures, such as safeguarding the state’s low commercial tax rate and its business income tax deduction, which faced a partial rollback in the Legislature last year.

GCP also wants state lawmakers to find a means to fix what it called “Ohio’s beleaguered unemployment compensation system.” Last June, Ohio borrowed $1.29 billion from the federal government to help cover the $8 billion in benefits paid out since the COVID-19 pandemic began. The solution is especially important if businesses are going to be expected to pay down that debt, as they were last time the state borrowed $3.39 billion during the Great Recession.

But also consistent throughout the 20-page document is GCP’s call for substantial and equitable investments in public infrastructure and public services as “an upstream driver of economic growth.”

“IT’S ALWAYS BEEN A BALANCING OF BUSINESSES’ NEED FOR A COMPETITIVE TAX ENVIRONMENT TO GROW WITH A NEED TO HAVE THE FUNDAMENTALS UNDERNEATH OUR COMMUNITY THAT REQUIRES INVESTMENT IN PUBLIC SERVICES.” — Marty McGann, GCP executive vice president of advocacy and strategic initiatives

“It’s always been a balancing of businesses’ need for a competitive tax environment to grow with a need to have the fundamentals underneath our community that requires investment in public services,” McGann said.

The report calls for substantial infrastructure investments, including the development of transit hubs and funding for multimodal transportation options that better connect residents to jobs and services, as well as support for the continued development of central business districts, downtown and other “key neighborhoods.”

Cleveland City Councilman Kerry McCormack, who represents downtown and the Tremont, Ohio City and Stockyards neighborhoods, agrees that the best way for the region to cultivate a better businesses environment is to address longstanding structural problems — particularly transportation.

“These are not cutesy issues,” he said. “It has been shown in other cities, places like Pittsburgh, that when

you invest in people-friendly infrastructure, that helps them get from place to place without the expense of a vehicle ... (and) you help create better opportunity. Transit options are not a luxury, and that type of investment will support economic opportunity.”

Those kinds of local policy priorities are part of GCP’s longstanding support of a more regional approach toward a “shared service model” between municipalities and other government agencies as a means of providing higher-quality public services.

In addition to the more conventional policy ideas, like infrastructure and regionalism, is an urgency to eliminate some of the endemic problems that have become apparent during the COVID-19 pandemic.

“We have centered our work in equity in this agenda, more so than we have in years past,” McGann said, pointing to the digital divide, which affects thousands of Cleveland households, as one pressing example of racial disparity. “It is important to meet this moment in time.”

Internet access is critical, McGann

said, for businesses to reach employees and customers. He said immediate action requires a partnership with local, state and federal governments, plus private-sector partners, to develop low-cost solutions, particularly for the city’s older and poorer residents, and expand home internet adoption.

Based on 2018 statistics from the National Digital Inclusion Alliance, about 27% of Cleveland households have no internet connection.

In October, GCP announced the launch of the Cleveland Innovation Project, a collaboration of business leaders dedicated to driving inclusive economic growth in the Cleveland area who have taken on the goal of assuring that 100% of Cleveland households have affordable highspeed internet access by 2022.

Cleveland’s digital divide is one of the group’s most pressing priorities after the pandemic shifted health care, education and business interactions online for so many people.

As part of the effort to expedite digital equity, GCP’s agenda includes advocating for state assistance for affordable, high-quality broadband access in digitally divided communities.

“This agenda refocuses the priorities that will help create the right environment for businesses to grow, while also centering broader issues and investments that will advance an equitable recovery in our region,” said Kevin Johnson, CEO of NexGen Interactive and Council of Smaller Enterprises board chairman, in a statement.

The agenda also addresses the need for investment in minority communities to reduce disparities in education, employment, entrepreneurship and lending.

See AGENDA on Page 20

MANUFACTURING

World Group is seeing record growth in trucking division Organic and M&A strategies are bolstering ContainerPort and its 1,300-vehicle fleet

BY RACHEL ABBEY MCCAFFERTY

While 2020 posed challenges for many companies, it was a record year for the World Group in Rocky River.

The pandemic created demand for online ordering, which created demand for the shipping services the company offers, CEO Michael Smith said.

World Group is a broad group of companies that offers shipping, freight-forwarding and warehousing services. The goal is to create a “onestop shop” for customers, Smith said, so those customers can arrange to have their freight delivered and warehoused with just one call. And World Group offers technology such as global logistics tracking, as well as brokerage services in areas where it doesn’t offer its own trucking.

“We kind of do it all,” Smith said.

The company has about 630 employees. Smith declined to share annual revenue.

It’s seeing growth in its trucking division, ContainerPort Group Inc. ContainerPort has about 1,300 trucks in the Southeast and Midwest.

That’s a number that grew recently with the acquisition of North Carolina-based logistics company FSI Inc. ContainerPort acquired FSI about three months ago, Smith said, and it became fully integrated with ContainerPort at the start of the year. But the company has been working with FSI for a while. FSI was an agent of the company, which meant ContainerPort was already providing the company’s back office functions.

The acquisition added about 120 trucks to ContainerPort’s fleet and grew the company’s capacity in the Southeast.

Mergers and acquisitions will continue to be part of the company’s growth strategy, but so will organic growth.

For example, the company recently opened a new terminal in Minneapolis. The 2-acre facility is located near a highway and two rail ramps.

“We are thrilled about opening a Minneapolis location and extending our national footprint,” said Jonathan Urban, ContainerPort’s senior vice president of operations, in a news release. “Expanding into the Minneap-

ContainerPort Group, part of Rocky River-based World Group, has seen organic and acquisition-driven growth recently. | WORLD GROUP

“MANY COMPANIES TREAT DRIVERS AS A NUMBER, WHERE WE TREAT THEM AS FAMILY.” — Michael Smith, World Group CEO

olis market gives us a unique advantage to enhance our support for CPG’s growing customer base. Customers have already been in contact to see how quickly we can assist them — confirmation that CPG is poised for fast growth.”

Smith said ContainerPort relies on customer needs when it’s deciding where to open a new site.

“That drives our decision-making,” he said.

Smith said his goal is to open two to three new locations in 2021. Smith said the company is staying focused on sites “east of the Rockies,” looking into locations in the South.

Most of ContainerPort’s locations are at ports or rail hubs. From there, the company delivers product to distribution centers or warehouses, or directly to its customers. After that, those products may then be loaded onto a more traditional truckload for longer-range trips.

And that approach offers a differentiator for ContainerPort, which has helped it succeed amid a tough environment for trucking companies. The industry has been facing a workforce challenge, as there’s a lack of qualified drivers. But ContainerPort tries to find business that fits the needs of the independent contractors with whom it works. For example, most of the drivers working for ContainerPort aren’t on the road for a week at a time; they’re at home every night, Smith said.

“Many companies treat drivers as a number, where we treat them as family,” he said.

Rachel Abbey McCafferty: (216) 771-5379, rmccafferty@crain.com

6 | CRAIN’S CLEVELAND BUSINESS | FEBRUARY 1, 2021

P006_CL_20210201.indd 6

1/29/2021 3:22:25 PM

Taking care of teammates

In a year unlike any other, our company and teammates were called upon to address unprecedented challenges and headwinds in the broader environment, working in support of each other, our clients and the communities where we work and live.

In appreciation of these outstanding efforts, we are recognizing eligible employees with Delivering Together compensation awards. A cash bonus of $750 or additional stock award is the latest step our company has taken to invest in our employees during the health crisis.

We’ve also significantly invested in industry-leading solutions and resources. To help many of our teammates balancing family and work, we provided an enhanced benefit of up to $100 per day for in-home childcare — funding nearly 3 million days of support. And in 2020, we accelerated the move of our U.S. minimum hourly rate of pay to $20, more than a year earlier than originally planned.

Here in Ohio, my teammates and I are here to help. We’re proud of this community and remain committed to making it a better place for us all.

For the fourth time since 2017, Bank of America is recognizing teammates with a special award in cash or restricted stock.

This year, approximately 97% of teammates will receive a Delivering Together award.

These awards are in addition to any regular annual incentives that eligible employees may receive.

Jeneen Marziani Ohio Market President

To learn more, please visit bankofamerica.com/community Bank of America, N.A. Member FDIC. Equal Credit Opportunity Lender. © 2021 Bank of America Corporation. All rights reserved.

FROM THE PUBLISHER

RICH WILLIAMS FOR CRAIN’S CLEVELAND BUSINESS

Taking on the digital divide

EDITORIAL

Not for show U.S.

Sen. Rob Portman is pretty soft-spoken, but the Cincinnati Republican made a lot of noise last week when he announced he wouldn’t seek re-election in 2022.

That immediately set off a frenzy of speculation (among observers) and positioning (among potential candidates in both parties) about who will run in a race that now seems more competitive than it otherwise would have been. Every seat is critical in a 50-50 Senate. Spending to get this one will be enormous.

But what are they getting?

It “has gotten harder and harder to break through the partisan gridlock and make progress on substantive policy” in the Senate, Portman said, in explaining why he won’t pursue a third term. No doubt true, if possibly a little self-serving.

(Everyone fancies themselves principled. It’s always those other legislators who are hyper-partisan.)

We’ve wished on more than a few occasions that Portman had pushed back harder on the excesses of former President Donald Trump, and of a Republican Party that’s increasingly gravitating toward extreme candidates.

He accommodated a political PORTMAN PUT IN THE that’s getting worse.

WORK. MAYBE THAT’S NOT culture Yet Portman will be missed.

ENOUGH THESE DAYS, AND He has made valuable contributions in the Senate on isIT’S NOT A GREAT SIGN sues that matter, from opioid THAT SOMEONE LIKE addition and human trafficking to trade and Great Lakes PORTMAN DOESN’T WANT protection. So many of the THE JOB ANYMORE. people headed to Washington, D.C., now seem to be in it for anything but the legislating. Portman put in the work.

Maybe that’s not enough these days, and it’s not a great sign that someone like Portman doesn’t want the job anymore.

There will be plenty of time to focus on the candidates who want to be Portman’s successor. It will be on Ohio voters to pick a workhorse rather than a show horse. Wherever you fall on the political spectrum, you should hope Ohio’s next U.S. senator brings to the job the level of seriousness that Portman demonstrated. We hope he finds a way to make his remaining

time in office productive and identifies a post-Senate career that can help Ohio advance.

At minimum T

here’s a new push at the federal level, led by U.S. Sen. Sherrod Brown, D-Cleveland, among others, to raise the minimum wage to $15 per hour from $7.25, where it has sat since 2009.

The approach outlined in the Raise the Wage Act is modest: a bump to $9.50 per hour immediately if the measure is passed, and then incremental hikes to $15 by 2025. Starting in 2026, the federal minimum wage would be indexed to median wage growth. If you’re going to do it, this is the best way: slowly and predictably, so it’s manageable for businesses.

The market’s already telling us that $7.25 an hour is awfully low. (And note: The federal minimum wage is enforced in 21 states that either don’t have a state minimum wage or set a level at or below $7.25; Ohio’s rate is $8.80.) Walmart starts workers at $11 an hour, while Target and Costco already are at $15. At the current $7.25, a full-time worker earns a little more than $15,000 per year; a boost to $15 still leaves that worker at $31,200.

There are risks, though, to raising the minimum wage. A pre-pandemic report from the nonpartisan Congressional Budget Office found that raising the minimum wage to $15 by 2025 would cost 1.3 million workers their jobs. (A hike to $12 or $10, also studied, would have similar but smaller effects.)

At that same time, the report found that the full hike would “boost the wages of 17 million workers who would otherwise earn less than $15 per hour. Another 10 million workers otherwise earning slightly more than $15 per hour might see their wages rise as well.” A bit of something for everyone.

In a country as big and economically diverse as this one, it’s better to have minimum wages set at the state level to account for disparities in output and the cost of living, with the federal government focused on improving macroeconomic conditions. Better still is to have employers take income inequality seriously and look hard for ways to push wages higher. The economy held up over the last year in large part due to “essential workers.” It’s hardly a stretch to say they should be on a path to making $15 per hour.

Executive Editor: Elizabeth McIntyre (emcintyre@crain.com) Managing Editor: Scott Suttell (ssuttell@crain.com) Contact Crain’s: 216-522-1383 Read Crain’s online: crainscleveland.com

By now, most of you are aware of the digital divide — the gulf between those who have ready access to computers and the internet, and those who do not. If you are reading this on our website (app coming soon), you are probably fortunate to be on the “have” side of that divide.

The digital divide is not new — it’s been tracked by organizations such as Mike Deloitte since 2012 — but the COVID-19 SCHOENBRUN pandemic has exacerbated its impact, creating a renewed sense of urgency to close the gap.

Throughout 2021, Crain’s Cleveland Business will be taking an in-depth look at the digital divide within the pages of the paper, at crainscleveland.com, and through a thought-provoking event on May 10. Our journalists, along with members of the community, from government and nonprofit to business leaders, plan to address some of the most critical aspects of this challenge, including:

The size of the opportunity The Pew Research Center reported in May 2020 that 44% of adults in households with incomes below $30,000 don’t have broadband. According to the National Digital Inclusion THROUGHOUT 2021, Alliance, Cleveland is consis- CRAIN’S CLEVELAND tently among its worst connected cities. While not a flat- BUSINESS WILL BE tering designation, there TAKING AN IN-DEPTH appears to be ample opportu- LOOK AT THE DIGITAL nity for improvement with respect to access and the related DIVIDE WITHIN THE economic benefits that follow. PAGES OF THE PAPER, AT

Impact on the current labor force

CRAINSCLEVELAND.COM, AND THROUGH A THOUGHT-PROVOKING EVENT ON MAY 10.

Looking more in-depth, 7.8 million low-income consumers only have access through their mobile device and 48% lose coverage over the course of their contract because they can’t afford it at some point. While these low-income users might be counted as having internet access, smartphone apps have limitations with respect to creation (e.g., resume writing) and productivity (e.g., remote work capabilities) relative to computer-based tools with full functionality. Job seekers not only need the internet to access job opportunities, but to perform them as well. Ten of the 15 most in-demand careers as reported by Indeed require the use of technology on the job.

Impact on the future labor force The “homework gap” is the difference between school-age children who have access to high-speed internet at home and those who do not. The pandemic has shown us that if a child does not have access to online learning, they may fall behind, be less likely to graduate high school, or go on to higher education or a trade school. Businesses will not be able to find quality employees to further their business needs. This disparity will have a significant impact on the quality of life for many of the city’s residents and our society may be dealing with this setback for many generations to come.

If you are interested in learning more about how your business can get involved, please feel free to reach out to me directly at mike.schoenbrun@crain.com. This is too important to sit on the sideline — we hope you take action and get involved.

Write us: Crain’s welcomes responses from readers. Letters should be as brief as possible and may be edited. Send letters to Crain’s Cleveland Business, 700 West St. Clair Ave., Suite 310, Cleveland, OH 44113, or by emailing ClevEdit@crain.com. Please include your complete name and city from which you are writing, and a telephone number for fact-checking purposes.

Sound off: Send a Personal View for the opinion page to emcintyre@crain.com. Please include a telephone number for verification purposes.

8 | CRAIN’S CLEVELAND BUSINESS | February 1, 2021

P008_CL_20210201.indd 8

1/29/2021 1:27:33 PM

OPINION

PERSONAL VIEW

Regionalism can’t wait

2020

Top Producers

Connect with us for all of your Commercial Real Estate needs www.naipvc.com | 216 831 3310

BY FRANK CAMARDO

owes its prosperity to its location sandwiched between the two major employment hubs of Cleveland and COVID-19 has ravaged so much of our lives, ripping Akron — to sponsor legislation that away family members too soon, stealing away jobs, and would lay low the economic engines confining us to our homes without the company of for the entire region completely defriends and family. Beyond the immense personal imfies economic sense and betrays the pact, the pandemic exposed just how tenuous is the sheer indifference to regional thinkstruggle to maintain societal cohesion among our reing harbored by so many in Northgion’s residents; principally, neighbors unwilling to take east Ohio. Unfortunately for Greater the necessary actions — wearing masks and social dis- Camardo is the Cleveland, such anti-regionalism is tancing — to protect their fellow neighbors. For whatev- principal not solely the province of outlying er seemingly unjustifiable reason, this lack of concern attorney at Scott Raskow Jeffrey Calig, CCIM David Hexter, SIOR suburban legislators. for the overall societal good forebodes an equally exis- Camardo Law 330 535 2661 216 455 0910 216 455 0890 Despite Cleveland’s crushing tential crisis on the horizon for Northeast Ohio: the and an adjunct sraskow@naipvc.com jcalig@naipvc.com dhexter@naipvc.com poverty levels, Cuyahoga County’s coming municipal income tax fight. professor at continued population loss, and the With the wounds of COVID-19 still fresh, and growing, Clevelandand for many local governments, some local representatives Marshall College ever-increasing local incomewww.naipvc.com property taxes levied throughout the have taken it upon themselves to turn the knife in the backs of Law. He lives county to maintain dwindling muof their neighboring municipalities. During a time in which in Ohio City. nicipal services, leaders of both more employees are working from home, and likely to Cleveland and Cuyahoga County continue to do so even after the pandemic ends, legislators in the state senate introduced Senate Bill 352 to radically have made zero real progress at regionalizing our opalter how municipalities collect income tax. The bill seeks pressively stratified local government ecosystem. And have no doubt that the to repeal an emergency inexpense to run 105 discome tax measure that al- WITH THE WOUNDS OF COVID-19 tinct units of government lows municipalities to colin Cuyahoga County is lect taxes based on the STILL FRESH, AND GROWING, FOR oppressive. County resilocation of the employer, MANY LOCAL GOVERNMENTS, SOME LOCAL dents bear a 13% greater even if the employee now overall tax burden comworks from home. The leg- REPRESENTATIVES HAVE TAKEN IT UPON pared to the average tax islation’s implication on THEMSELVES TO TURN THE KNIFE IN THE burden of 10 comparable large employment hubs cities. In a county home like Cleveland is clear — BACKS OF THEIR NEIGHBORING to the poorest big city in devastation to the city’s MUNICIPALITIES. the country, even one budget.

Such a blatant attack on large cities should come as single dollar spent on excessive municipal government no surprise to Clevelanders. We live in a state that rou- instead of investing in education, workforce developtinely overrides our attempts to address urban issues at ment and affordable housing is an absolute economic the local level. What makes this most recent assault par- and moral failure.

Flexible warehousing that won’t ticularly infuriating is its sponsor’s address. For a legisbreak the bank. lator from Hudson — a well-to-do suburb that directly See CAMARDO on Page 21

Store it locally, ship it anywhere

2021 economic and investment outlook: more change and more optimism

» Up to 200,000 square feet of available space » Affordable shipping services » Contract and on-demand options PartnerShip.com/Warehouse | 800-599-2902

BY GEORGE MATEYO

equity indexes and society as a whole.

In recent years, negative sentiment aimed at Big Tech has captured rare biIn late February 2020, headlines of a rapidly spreadpartisan support in Congress. At the ing, deadly new virus emerged across all media. By midsame time, the two political parties March, the entire world had changed. That rapid change may cite different reasons for their opcontinued throughout the year due to the pandemic, position; greater regulatory scrutiny along with social and political unrest. While we expect could be in the offing. As a result, these change to remain constant in 2021, we also see encourstocks may face some headwinds, aging economic signs. thereby causing the gap between While the global economy shuttered, volatility surged Mateyo is chief growth and value stocks to converge. and risk assets declined precipitously, we now think a re- investment That said, many of the trends that covery is underway. As a result, market gains, while mut- officer at Key facilitated Big Tech’s dominance ed relative to last year, will likely be more broad-based. Private Bank. have been reinforced and acceleratThere are four reasons for these conclusions. ed by COVID-19. For instance, cloud First, as a vaccine becomes widely available, those companies impacted most negatively by COVID-19 and the asso- computing and e-commerce were well-established ciated economic restrictions should benefit more by return- megatrends before the pandemic. As work-from-home and shop-from-home ing to normal. Think Netflix have proliferated, those (the stay-at-home stream- WHILE THE GLOBAL ECONOMY SHUTTERED, companies enabling ing juggernaut) versus AMC (the country’s largest VOLATILITY SURGED AND RISK ASSETS DECLINED such technologies have movie theater operator) or PRECIPITOUSLY, WE NOW THINK A RECOVERY IS seen their businesses strengthen appreciably.

Peloton versus Planet FitIronically, many of these ness as two examples. Be- UNDERWAY. AS A RESULT, MARKET GAINS, companies are considcause companies disad- WHILE MUTED RELATIVE TO LAST YEAR, WILL ered Big Tech. While they vantaged most by LIKELY BE MORE BROAD-BASED. may face some regulatory COVID-19 are more prevalent within value-oriented stock market indexes, the value pressures, they also possess robust growth characteristics. Thus, we do not believe in abandoning the category should benefit as the economy regains some momentum.

Second, we continue to believe that Big Tech will garner entirely and instead advise selectivity and prudence reregulators’ attention. Big Tech refers to a group of well- garding portfolio construction. known and well-entrenched technology companies that have become dominant forces both within growth-oriented See MATEYO on Page 21

Providing a private travel experience that exceeds expectations.

FlySkyQuest.com

HOW TO FLY WITH SKY QUEST: » On-Demand Charter » Jet Card Memberships » Aircraft Ownership Opportunities

216-362-9904 Char ter@FlySkyQuest.com

FEBRUARY 1, 2021 | CRAIN’S CLEVELAND BUSINESS | 9

P009_CL_20210201.indd 9

1/28/2021 2:53:54 PM

In fam net a devi The ogy gap dem Gor sued best stud stud scho B scho curb C digi fam mat and mai “I gle fam plet to s the of u Gor Si in th and use wor pay tern don seen

TECHNOLOGY

When remote access doesn’t make the grade

Move to virtual classrooms exacerbates existing tech struggles in impoverished districts ``BY RACHEL ABBEY MCCAFFERTY | Students in the Cleveland Metropolitan School District

have been attending classes remotely for almost a year now.

But before the COVID-19 pandemic upended just about every part of daily life, teachers couldn’t assume students had a computer or working internet at home.

The digital divide — the inequities between those who have computers and online access and those who do not — has long put students in impoverished communities like Cleveland at an educational disadvantage and left them without the necessary skills for a digital future.

10 | CRAIN’S CLEVELAND BUSINESS | February 1, 2021

P010_011_CL_20210201.indd 10

Prior to the pandemic, Cleveland schools CEO Eric Gordon said, teachers and students in his community needed a lot of “workarounds.” Because it wasn’t a given that a student would have a computer to use to write a paper at home, schools would open early or stay open late to give students access to those tools.

“So there was just a basic func-

tionality that my students simply didn’t have access to that most of us just take for granted,” Gordon said.

The internet used to be a “luxury,” said Angela Siefer, executive director of the National Digital Inclusion Alliance in Columbus.

“And now it is essential to everything we do,” she said.

The pandemic brought that issue to the forefront.

ILLUSTRATION BY ANDREA UCINI FOR CRAIN’S CLEVELAND BUSINESS

1/28/2021 2:29:49 PM

In Cleveland, many of the district’s families had some access to the internet at home, but it was through mobile devices, such as phones, Gordon said.

The district knew one-to-one technology would be the best way to close the gap for students, but before the pandemic leaders couldn’t see a way there.

Gordon said the district instead pursued an approach that would make the best use of whatever kind of devices students had at home, even allowing students to bring those devices to school to access the internet.

But that wasn’t enough when schools opted for remote learning to curb the spread of COVID-19.

CMSD at first found alternatives to digital access for students and their families. School officials handed out materials at food pickup stations, and lessons were printed out and mailed, as well as conducted on TV. “It really meant finding every single workaround to reach kids and families who suddenly were completely isolated when we were all told to stay home, and they didn’t have the alternative connectivity that most of us have, which is the internet,” Gordon said.

Since then, the district has invested in thousands of devices and hotspots, and worked to teach families how to use them remotely. And it’s been working with nonprofit DigitalC to pay to bring high-speed, low-cost internet into its families’ homes. Gordon said the efforts with DigitalC have seen some challenges, including

A still from a Cleveland Metropolitan School District video shows a montage of how teachers have worked to make remote learning engaging this school year.

working with property owners, many of whom don’t live in the region.

Getting connected As of Jan. 20, DigitalC’s high-speed internet service, empowerCLE+, was

serving 419 CMSD households and 787 students within those homes. And there were another 20 households scheduled for installation that week.

DigitalC’s role has included building out the infrastructure to connect the city, as many of the traditional provid-

ers had opted not to do so without a strong return on investment, the nonprofit’s chief executive, Dorothy Baunach, said. And that infrastructure became more necessary than ever when the pandemic shutdowns began.

Baunach said that between March

| CMSD

and May, DigitalC received requests from CMSD, charter school network Breakthrough Schools and others seeking help to connect their students to the internet at home.

See SCHOOLS on Page 13

To shepherd the future, hospitals have to be good stewards of the past.

Provide your clinicians easy access to the comprehensive historical information they need to make more informed care decisions.

MediQuant.com

y s

e -

-

-

February 1, 2021 | CRAIN’S CLEVELAND BUSINESS | 11

S

P010_011_CL_20210201.indd 11

1/28/2021 2:30:23 PM

SVN AD FOR CRAINS RUN DATE: 2/1/21 UPLOAD DATE: 1/25/21

FOR SALE Center Street in Seville, OH

Commercially Zoned Sites for Sale Individual Lots Range from 1.20-1.98 Acres Great Highway Frontage Available All Lots Provide Easy Access to Amenities and Freeways

AARON DAVIS

JERRY FIUME SIOR, CCIM

office 234.231.0285 cell 330.221.7297 aaron.davis@svn.com

234.231.0235 office 330.416.0501 cell jerry.fiume@svn.com

STAY IN THE KNOW with Crain’s email newsletters Subscribe FOR FREE : CrainsCleveland.com/enewsletters

FOCUS | TECHNOLOGY |

DIVIDE

From Page 1

In September, the National Digital Inclusion Alliance called Cleveland one of the nation’s worst connected cities. The alliance’s report is based on 2019 American Community Survey data, so it doesn’t account for connections made during the pandemic. But it still paints a striking picture.

The report looked at the percentage of households in a given city without cable, DSL or fiber broadband, as well as those that didn’t have any kind of broadband internet, including mobile data plans. Cleveland did poorly on both counts.

About 31% of households in Cleveland lacked any kind of broadband plan, which landed the city as the seventh worst connected city by that measure. Almost 46% of households didn’t have cable, DSL or fiber broadband connections, which put the city at 16th in the report.

Today there are more connected devices on the planet than people, but that connectivity isn’t equally distributed, said Nick Barendt, co-executive director of the IoT Collaborative, a partnership between Case Western Reserve University and Cleveland State University. IoT stands for the internet of things, the concept behind all the connected devices in homes, workplaces and elsewhere.

There’s a direct connection be-

tween poverty and the digital divide, said Leon Wilson, chief information officer and chief of innovation at the Cleveland Foundation, which has supported efforts to close the digital divide in a variety of ways in recent years. An individual who lives below the poverty line might not be able to afford internet access, and where they live might not have access available.

And that lack of access shows up in

“WE NO LONGER HAVE TO TELL PEOPLE WHY OR WHAT. IT’S HOW. HOW DO WE SOLVE THIS? AND HOW DO WE AS A COMMUNITY TOGETHER ADDRESS THIS, BECAUSE THIS ISN’T SOMETHING THAT ANY ONE OF US CAN SOLVE ALONE. THIS IS AN ALL HANDS ON DECK.” — Dorothy Baunach, chief executive for DigitalC

a variety of ways, a fact the pandemic has laid bare. For example, when workplaces shut down last spring, leaving people without jobs, individuals had to go online to get unemployment benefits, Wilson said. That requires internet access that not everyone has.

Some populations are particularly affected by the digital divide in Cleveland, said Dorothy Baunach, chief executive for the nonprofit DigitalC, which among its efforts offers low-cost internet. In addition to the students in the K-12 system, there are the senior citizens and the population Baunach calls the “strivers,” or the unemployed or the underemployed.

Baunach thinks the digital divide has to be closed from the ground up.

It’s not something that can be solved in a conference room, she said. It takes going into the neighborhoods and using technology to meet people’s needs, instead of putting the technology at the forefront.

Developing trust is one of the biggest challenges to closing the digital divide, Baunach said. People have gotten used to bundled services that raise prices over time. If they’ve struggled to pay in the past, their credit may have taken a hit.

Even before the pandemic, DigitalC’s focus had turned to equity, Baunach said. And the pandemic only served to reaffirm the nonprofit’s commitment.

“We no longer have to tell people why or what. It’s how,” Baunach said.

“How do we solve this? And how do we as a community together address this, because this isn’t something that any one of us can solve alone.

This is an all hands on deck.”

Rachel Abbey McCafferty: (216) 771-5379, rmccafferty@crain.com

ANYWHERE YOU GO, IS RIGHT BY YOUR SIDE

CRAIN’S CLEVELAND BUSINESS

Coming Soon!

Launching in March 2021

12 | CRAIN’S CLEVELAND BUSINESS | FEBRUARY 1, 2021

P012_013_CL_20210201.indd 12

1/28/2021 2:32:00 PM

SC

From

Th have Zitz Brea wer ing righ B quir hom said the ing lies such ed t mot who Th trict use pan But mor ing elim The CAR dist ilies nec Th effo abo each said mar

arly in ach, Digffers the e are ula” or em-

vide up. lved d. It oods peothe

biggital have that y’ve heir

Digiuity, mic rof-

ople aid. w do ress hing one.

FOCUS | TECHNOLOGY |

SCHOOLS

From Page 10

The digital divide “perpetuates the haves and the have-nots,” said John Zitzner, president of the Friends of Breakthrough Schools. While there were some federal grants, fundraising was a critical part of putting the right supports in place.

Breakthrough Schools didn’t require students to use technology at home prior to the pandemic, Zitzner said. But when the pandemic started, the Cleveland network began sending devices and hotspots to its families and working with organizations such as DigitalC to get them connected to the internet. It also created remote learning centers for students whose families couldn’t stay home.

The Youngstown City School District also didn’t often ask students to use technology at home prior to the pandemic, CEO Justin Jennings said.

But he thinks the district will rely more on home-based technology going forward, possibly as a way to eliminate the need for calamity days.

The pandemic and the subsequent CARES Act funding has helped the district get its students and their families — and, sometimes, staff — connected to the internet.

The Akron Public Schools started efforts to close the digital divide about four years ago, connecting each of its students with a laptop, said Mark Williamson, director of marketing and communications.

DigitalC’s technology director, Rolando Alvarez, installs wireless internet services at a home in Cleveland’s Clark-Fulton area. | DIGITALC

This gave students access to different learning tools and helped keep them more up-to-date in some subjects, such as social studies, than textbooks traditionally allowed.

When the pandemic started, students in Akron already had a device to use at home. But there were still challenges. The district distributed hotspots where needed for internet access. And it used its food distribution locations as a place to answer tech questions, bring in devices for repairs or share important information, Williamson said.

The digital divide certainly has posed big challenges for schools and

their students before and during the pandemic. But it’s clear the community is beginning to rally to close those gaps in many cases.

A lingering issue However, Gordon of CMSD is actually concerned people are missing the larger issue at play — and that it’s an issue that could fade into the background as the pandemic wanes. Students may be getting the computers and internet access they need now, but the digital divide remains for many in the community, particularly the elderly or the unemployed.

“There’s still a big part of this iceberg that’s sitting under the water,” he said.

The world is becoming more tech-driven in all sectors, said Shilpa Kedar, co-executive director of the IoT Collaborative, a partnership between Cleveland State University and Case Western Reserve University focused on the internet of things. There are a lot more jobs that require workers to be tech-savvy. And technology jobs themselves tend to be higher-paying jobs with strong career pathways, she said.

That all means some workers will need to be re-skilled, but it also ap-

plies to the foundational education people receive in school.

In the Cleveland Metropolitan School District, the digital divide that existed even before the pandemic meant students’ efforts to learn tech skills were hampered. For example, in content areas such as computer science, Gordon said, teachers couldn’t give tech-based homework for students to work on outside of school. So students were limited to what they could learn during class time.

More students may have devices at home now, but Siefer said school-issued devices, which are relatively locked down, tend to come up short in terms of encouraging digital skills.

When people don’t have access to their own devices, they can’t practice and play — or make mistakes.

“If you don’t have a computer where you can even try to do that, then how are you developing those skills? How does it even open a door for you to develop that confidence?

There’s no door,” Siefer said.

Ultimately, the digital divide is really a question of access and of digital literacy. It’s not just enough for the internet to be available. It needs to be affordable and people need to know how to use it. And that’s not a problem that can be fixed with one initiative or organization. It’s something that’s going to take long-term commitment.

The schools are just the start.

Rachel Abbey McCafferty: (216) 771-5379, rmccafferty@crain.com

CUSTOM PUBLISHING SECTION WHAT WE WANT TO HEAR ABOUT: •Buying and selling property •Divorce and marriage •Money management •Career advancement •Moving and relocation •Self-improvement •Investment decisions •Opening a business •Stress management •Caring for the elderly •Education and parenting •Changing jobs •Planning for retirement •Saving for and choosing a college •Charitable commitments •Second careers

PLANNING FOR THE FUTURE From relocating and career decisions to caring for

aging parents and planning for college, the choices that impact the trajectory of one’s life often are

WHO SHOULD BE IN THIS SECTION: •Financial advisers •Real estate professionals •Attorneys •Higher education •Career coaches •Senior living counselors •Leadership experts •Entrepreneurs •Human resources professionals •Business advisers •Health care professionals

better made with the help of a trusted adviser.

In this section, we want to hear from all sorts of experts who help guide life’s biggest decisions.

This is your chance to share your knowledge and expertise with the Crain’s audience.

ISSUE DATE: March 22 // AD CLOSE: Feb. 19 // ARTICLES DUE: March 1 // AD DUE: March 8 To book an ad and share your expertise, contact Mike Schoenbrun at mike.schoenbrun@crain.com

CRAIN’SCONTENTSTUDIO CLEVELAND

FEBRUARY 1, 2021 | CRAIN’S CLEVELAND BUSINESS | 13

P012_013_CL_20210201.indd 13

1/28/2021 2:32:22 PM

FOCUS | TECHNOLOGY

Tech Elevator begins new year with high hopes after sale With new owner Stride, boot camp company looks to enhance brand as world becomes more digitally dependent

BY DOUGLAS J. GUTH

Cleveland technology education company Tech Elevator has enjoyed a “wild ride” since its inception in 2015, which co-founder and CEO Anthony Hughes compares to a rider getting their foot caught in the stirrup of a particularly swift horse.

Far from feeling out of control, Hughes is ready for the adventure’s next leg, which began last November, when K12 Inc. acquired Tech Elevator for $23.5 million. Now known as Stride Inc., the Virginia-based public company slotted Hughes’ creation into Galvanize, a subsidiary purchased last January that offers technology training on 10 campuses.

Tech Elevator continues to independently operate six campuses, providing a 14-week boot camp designed to transform students into well-paid software developers.

“Stride told us from the outset that they didn’t want to change what we do or who we are,” Hughes said. “It’s a great thing when you get to steer the ship into a safe harbor.”

Hughes said the sale will enhance the brand he built alongside co-founder and chief academic officer David Wintrich. Though the relationship with Stride is in its early days, Hughes remains bullish about further expanding an already healthy student demographic profile, geographic footprint and hiring partner portfolio.

The addition of Tech Elevator’s training program will increase Stride’s position in the adult learner and career-skills market, Hughes said. Stride is now in a stronger posi-

Tech Elevator classrooms were in person before COVID-19 restrictions. Campus locations will reopen when it is safe to do so. | CONTRIBUTED

tion to upskill learners and fill a technology talent gap that, if anything, has grown during the coronavirus pandemic.

“You only have to think about how dramatically your own life habits have become more digitally dependent — from banking, to grocery shopping, to work-from-home — to see the effect of COVID on the digitization of our economy,” Hughes said.

With that accelerated change comes much greater demand for

coders. Casting ahead, the U.S. Bureau of Labor and Statistics projects employment of software developers to grow 22% across diverse industry sectors by 2029.

“Before COVID, there was already a massive need for support in digitization,” Hughes said. “COVID has accelerated that need in all industries. Most people at the beginning of 2020 couldn’t tell you what Zoom was, and now it’s part of the vernacular.”

Build an Exciting Career in Cisco® Networking

Regional asset Hughes said Tech Elevator’s signature enterprise business — which re-skills employees around high-resiliency software jobs — comprised a significant portion of the company’s pre-sale revenue. With the backing of Stride — and with Tech Elevator as a sister company to Galvanize — he envisions employee training as an area for future growth working in concert with the con-

sumer side of the house.

“We’re in this perfect intersection between demand for software developers and greater demand because of COVID,” Hughes Hughes said. “There’s a need for us as a society to transition away from jobs that got hurt so badly by the virus and into jobs in the digital workforce.”

Tech Elevator will continue to teach online this year via a remote learning plan it implemented in March. At the company’s half-dozen campuses — all of them east of the Mississippi River — students learn Java and C# (pronounced C Sharp) coding languages, which Hughes said will complement Galvanize’s existing curriculum. Even during the pandemic, Tech Elevator’s graduation and job placement rate hovered about 90%, with students placed into Fortune 500 companies including Accenture, PNC Bank and Progressive Insurance.

Venture capitalist and entrepreneur Michael Goldberg, who currently serves as an associate professor at Case Western Reserve University’s Weatherhead School of Management, said the “butts in seats” training approach provided by Tech Elevator, We Can Code IT and other boot camps has proven a valuable regional asset.

See TECH ELEVATOR on Page 16

Your ambitions are our

blueprint.

Local decision-making, personalized financing solutions and our full attention.

Create your own flexible Cisco pathway, and let your resume stand out.

The Tri-C® Cisco Technical Training Institute provides hands-on instruction using state-of-the-art Cisco equipment. Courses available for all skill levels.

Get Cisco-certified today.

LEARN MORE

Don Hayes

Market President 216.436.5814

tri-c.edu/ciscocn 216-987-3094 20-0976

All credit services are subject to credit approval.  YourPremierBank.com  Member FDIC

14 | CRAIN’S CLEVELAND BUSINESS | FEBRUARY 1, 2021

P014_CL_20210201.indd 14

1/28/2021 2:32:54 PM

FOCUS | TECHNOLOGY

App looks to make learning a language more accessible Time2Talk connects users with native speakers in their home countries at any time

BY KAREN FARKAS

Speaking and understanding a new language can be difficult and frustrating.

Time2Talk helps tackle that problem by connecting users with native speakers in their home countries.

The app, which was launched with Spanish coaches, allows people to practice the language at any time and pay a per-minute fee.

“When you are in the process of learning a language, you go through the steps of basic grammar and structure, sentences, then work on listening skills and writing skills,” said Marina Jackman, who founded the company with her husband, Chris Jackman. “You come to a point in which you have to talk to keep advancing. You have to speak to people and communicate.”

The app, which became available in July 2020, was created to solve a problem faced by the couple.

They met in Barcelona in 2015.

Chris Jackman, who grew up in the U.S., was working for Wilson Sporting Goods Co. and Marina Jackman, who is from Argentina, was studying for a master’s degree.

“He helped me with English, and I helped him with Spanish,” she said.

They both started studying French

“MY THOUGHT WAS TO GET THE BEST COACHES, WHO ARE NOT FORMAL TEACHERS BUT ARE PEOPLE THAT ARE CONSCIOUS ABOUT YOUR PROCESS OF LEARNING AND PROFESSIONALS THAT CAN HELP YOU SPEAK.”

The Time2Talk app connects learners to language coaches in their home countries.

—Marina Jackman, Time2Talk co-founder

CONTRIBUTED

when he was told his company was transferring him to France.

“We both went to Paris and took a

five-week intensive course,” she said.

The classes included going out and practicing the language with residents.

“It was a great dynamic and it is the best way to learn and retain information,” she said.

Before they had time to settle in France, the couple moved to Cleveland in the spring 2017, when Chris Jackman took a job as a sports agent with Team8 Sports & Entertainment in Pepper Pike. His new firm wanted him to continue to learn French, but it was difficult with them both working, she said.

“Nothing was convenient for us,” she said of tutors and online tools.

“One day my husband called me and said he was driving and it would be awesome if he could call his French tutor right now and speak.”

That led Marina Jackman to begin researching the idea of creating an app to allow that to happen. She spoke to people in software development and potential users. In fall 2019, she quit her job at a digital marketing company to work fulltime on Time2Talk. Her husband is not actively involved with the company.

The app allows people to sign in at any time and connect with a coach living in Latin America who is online as well. The user pays a $1.50 connection fee then 22 cents a minute. The total cost for an hour of conversation is $14.70.

The user can choose the topic for their conversation, such as food, business or travel.

Coaches receive $8.58 of the $14.70 hourly fee.

“It is a very, very high hourly rate for Latin America, but we wanted coaches to be excited to use it,” she said. “My thought was to get the best coaches, who are not formal teachers but are people that are conscious about your process of learning and professionals that can help you speak.”

The company pays for three people working in tech and development and a regional manager for the coaches. In addition, Jackman partnered with a software firm for development.

Jackman recruited coaches by asking contacts in Latin America to share a video she had created about the app. More than 400 applied, and she selected 75.

The growth of the app has been stymied by the COVID-19 pandemic.

Currently it has about 300 users, but she plans to market it to universities, hospitals and businesses.

She thinks more people will need to learn the language because of the increasing Latino population.

See TIME2TALK on Page 16

MARCH 2 | 4 – 5 P.M. Join us on March 2 as Crain’s assistant editor and sports business reporter Kevin Kleps moderates a panel with the top business executives from the big three sports teams in Cleveland. Kevin and the panel will dive into a variety of topics, such as: sponsorships, social media, sports betting, creative content strategies, brand connections and much more.

KEVIN KLEPS

Assistant Editor and Sports Business Reporter Crain’s Cleveland Business

BRIAN BARREN

President, Business Operations Cleveland Indians

DAVID JENKINS

Executive Vice President, Chief Operating Officer Cleveland Browns

LEN KOMOROSKI

Chief Executive Officer Cleveland Cavaliers, Cleveland Monsters, Canton Charge, Cavs Legion GC and Rocket Mortgage FieldHouse

Register for FREE to attend this compelling live panel style discussion with Q&A.

crainscleveland.com/Sportsforum

Webcast Questions: clbwebcasts@crain.com | Sponsorship Information: mike.schoenbrun@crain.com FEBRUARY 1, 2021 | CRAIN’S CLEVELAND BUSINESS | 15

P015_CL_20210201.indd 15

1/28/2021 2:34:01 PM

FOCUS | TECHNOLOGY

TECH ELEVATOR

TIME2TALK

From Page 14

From Page 15

“At Case, we have a computer science department, but we’re not churning out the number of students needed in the marketplace,” Goldberg said. “These training programs play an important role in bridging our formal high school and higher education systems.”

A year of remote working highlighted the need for “digital nomads” able to code from their kitchen tables. While Goldberg would like to hear more stories of boot camp grads moving up the corporate ladder from entry-level positions, Tech Elevator’s accomplishments in the space are undeniable.

“They’re a cool story of a startup beginning here and establishing a methodology,” Goldberg said.

Since its launch, Tech Elevator has trained nearly 1,700 students, with graduates earning an average salary of $61,000. Dollar figures are validated by the nonprofit Council on Integrity in Results Reporting (CIRR), Hughes said. The boot camp’s earnings for the 12 months ending in September 2020 was about $11 million, a 47% increase year-over-year.

“Companies like mine don’t exist without Tech Elevator growing the ecosystem in Cleveland,” said Matt Buder Shapiro, co-founder of MedPilot, a 40-employee Cleveland health technology startup. “How we grow is based purely on our talent.”

Although MedPilot hasn’t directly

“It is a great fit for colleges and hospitals, but everyone is trying to figure out the pandemic,” she said.

“We have had conversations, and this is going to be a better year.”

The business has been funded by family and friends, she said. She did not want to say how much has been invested. She is seeking investors and is working with mentors from JumpStart Inc., a nonprofit venture development organization. She became involved with JumpStart after she attended an event for Latina entrepreneurs just before the pandemic.

Time2Talk has great potential, said Ron Stubblefield, an entrepreneur-in-residence at JumpStart who is coaching and advising the business.

He said Jackman signed up more users in a shorter period of time than expected and is attracting them from around the country.

Stubblefield is the first shared entrepreneur-in-resident for the Economic Community Development Institute, the Hispanic Business Center, the President’s Council and the Urban League of Greater Cleveland. Cuyahoga County and the state of Ohio provided funding for the initiative.

“My role is to assist entrepreneurs such as Marina and work through challenges their businesses face,” he said. “The larger initiative is diversity among tech entrepreneurship.”

Tech Elevator students receive group and individual career coaching during the program to help them transition to a new career in tech. | CONTRIBUTED

hired any Tech Elevator grads, a robust regional hub built around innovation requires data scientists, machine-learning experts and others able to code and manage technoloBuder Shapiro gy products. Regional tech companies can aid this effort by scaling to attract talent and better communicating the benefits of the boot camp model.

“Outreach to schools is critical — a lot of it has do with messaging and letting people know these programs

are out there,” Buder Shapiro said.

“The product will sell itself, but people need to know about it.”

Hughes said the goal of Tech Elevator has always been to impact more communities, whether through physical campuses or expansion of remote learning. What he knows for certain is that demand for coding skills and talent will never wane.

“The key point is that it’s business as usual for us,” Hughes said. “We’re a best-in-class company and we’ve done it in Cleveland, and we’re incredibly proud of that.”

Contact Douglas J. Guth: clbfreelancer@crain.com

“THE LARGER INITIATIVE IS DIVERSITY AMONG TECH ENTREPRENEURSHIP.” — Ron Stubblefield, an entrepreneurin-residence at JumpStart

He is confident that Jackman can grow the company once the pandemic eases, and he is working with her to put together a plan to present to investors.

He said when he discussed her app in JumpStart team meetings there was a “true consensus that here’s a company that’s going to be successful.”

Jackman has been revising the app and now offers a list of the coaches and their countries. She plans to add a feature to show which coaches also speak English, which is helpful for users who are just learning Spanish.

Jackman plans to introduce Time2Talk to other countries and to add coaches for other languages, including French, Italian and German.

“We want to become the go-to app for people that have the need to practice their speaking skills,” she said. “We want you to feel confident that you are able to speak to different people."

Contact Karen Farkas: clbfreelancer@crain.com

Crain’s Cleveland Business will honor eight individuals in their 80s or older who are still working tirelessly to advance Northeast Ohio and its residents.

Do you know someone 80 or older who has seemingly tossed the word “retirement” from his or her vocabulary and continues to make an impact in Northeast Ohio’s business, civic and philanthropic circles?

NOMINATION DEADLINE: FEB. 15 | Issue Date: April 19

NOMINATE TODAY: CrainsCleveland.com/nominate 16 | CRAIN’S CLEVELAND BUSINESS | FEBRUARY 1, 2021

P016_CL_20210201.indd 16

1/28/2021 2:35:08 PM

CRAIN'S LIST | LARGEST COMMERCIAL PROPERTY SALES OF 2020 Ranked by price PRICES/ESTIMATES PRICE QUALIFIER 1

SQUARE FEET OR # OF UNITS

PRICE PER SQ. FT. OR PER UNIT

DATE

BUYER

SELLER

Office

$459,067,795 Allocated

815,000

$563.27

Jan. 24, 2020

VICI Properties Inc.

Jack Entertainment

JACK THISTLEDOWN RACINO 2 21501 Emery Road North Randall, 44128

Sports & Entertainment

$384,232,205 Allocated

682,144

$563.27

Jan. 25, 2020

VICI Properties Inc.

Jack Entertainment

3

VICTORY COMMERCE CENTER 43500 Victory Parkway Glenwillow, 44139

Industrial

$50,050,000 Confirmed

434,000

$115.32

Oct. 7, 2020

Investcorp International Inc.

Westminster Capital LLC

4 5

15535 S. STATE ST. Middlefield, 44062

Industrial

$44,230,000 Confirmed

937,825

$47.16

Sept. 2, 2020

Angelo, Gordon & Co.

Cabinetworks Group

DOWNTOWN CLEVELAND PARKING LOTS (5.73 ACRES) 3 Block bound by West Third, West Sixth, Superior and St. Clair Cleveland, 44113

Land

$40,200,000 Confirmed

—

—

March 18, 2020

Sherwin-Williams Co.

Weston Inc.

6

NORTHERN OHIO MEDICAL SPECIALISTS 2500 W. Strub St. Sandusky, 44870

Office

$35,448,000 Confirmed

104,700

$338.57

Dec. 10, 2020

Montecito Medical Real Estate

Davis Real Estate

7 8

4676 ERIE AVE. S.W. Navarre, 44662

Industrial

$32,000,000 Confirmed

—

—

Oct. 16, 2020

GOJO Industries Inc.

Fred Westheimer

CORNERSTONE BUSINESS PARK, BUILDING 2 8601 Independence Parkway Twinsburg, 44087

Industrial

$27,852,000 Confirmed

276,000

$100.91

Sept. 29, 2020

STAG Industrial Inc.

Scannell Properties

9

GREAT LAKES CHEESE 17955 Great Lakes Parkway Hiram, 44234

Industrial

$22,236,000 Confirmed

300,000

$74.12

Dec. 15, 2020

JHK Co. LLC

Great Lakes Cheese

10

GIANT EAGLE 8383 Tyler Blvd.

Mentor, 44060

Retail

$21,450,000 Confirmed

55,601

$385.78

Aug. 24, 2020

Exchange Right Real Estate LLC

Visconsi Cos. Ltd.

11

PLAZA AT CHAPEL HILL (WEST) 4 330-490 Howe Ave. Cuyahoga Falls, 44221

Retail

$18,985,337 Allocated

229,392

$82.76

June 11, 2020

America's Realty

Devonshire REIT Inc.

12

LOWE'S 186 N. Cleveland Massillon Road Akron, 44333

Retail

$18,500,000 Confirmed

129,308

$143.07

Jan. 20, 2020

Franklin Management Co.

Stark Enterprises

13

WEST MARKET STREET STATION 5 1745 W. Market St. Akron, 44313

Retail

$18,075,000 Confirmed

34,010

$531.46

Nov. 26, 2020

First National Realty Partners

SJ Collins Enterprises

14 15

3325 GILCHRIST ROAD Mogadore, 44260

Industrial

$18,003,941 Confirmed

453,000

$39.74

Nov. 25, 2020

Plymouth Industrial REIT Inc.

Raith Capital Partners LLC

KRAFTMAID CABINETRY PLANT 150 Grand Valley Ave. Orwell, 44076

Industrial

$16,670,000 Confirmed

350,528

$47.56

Sept. 2, 2020

Angelo, Gordon & Co.

Cabinetworks Group

16

LAND AT VALOR ACRES 119 acres along I-77 and Miller Road Brecksville, 44141

Land

$15,200,000 Confirmed

—

—

Oct. 14, 2020

Sherwin-Williams Co.

DiGeronimo Development LLC

17

ASC INDUSTRIES 2100 International Parkway North Canton, 44720

Industrial

$13,822,053 Allocated

274,464

$50.36

Nov. 25, 2020

Plymouth Industrial REIT Inc.

Raith Capital Partners LLC

18

EDGE32 3219 Detroit Ave. Cleveland, 44113

Multifamily

$13,600,000 Confirmed

60 6

$226,666.67

June 24, 2020

Realife Real Estate Group

Marous Brothers Construction

19

MARINER'S WATCH 3107 Detroit Ave. Cleveland, 44113

Multifamily

$13,430,000 Confirmed

62 6

$216,612.90

Dec. 21, 2020

Chad Kertesz

Brian Kock/Ohio City Development Partners

20

ROCKEFELLER BUILDING 614 W. Superior Ave. Cleveland, 44113

Office

$13,350,000 Confirmed

261,264

$51.10

Aug. 15, 2020

Agostino Pintus and Kenny Wolfe

Ben Cappadora

21 22

3300-3400 GILCHRIST ROAD Mogadore, 44260

Industrial

$13,264,540 Confirmed

335,521

$39.53

Nov. 25, 2020

Plymouth Industrial REIT Inc.

Raith Capital Partners LLC

CAK INTERNATIONAL BUSINESS PARK 2210 International Parkway Green, 44232

Industrial

$13,184,394 Allocated

350,000

$37.67

Nov. 25, 2020

Plymouth Industrial REIT Inc.

Raith Capital Partners LLC

23 24 25

4211 SHUFFEL ST. N.W. North Canton, 44720

Industrial

$12,165,148 Allocated

255,000

$47.71

Nov. 25, 2020

Plymouth Industrial REIT Inc.

Raith Capital Partners LLC

1842 ENTERPRISE PARKWAY Twinsburg, 44087

Industrial

$12,070,429 Allocated

197,565

$61.10

Sept. 9, 2020

Investcorp International Inc.

Dalfen Industrial, Colony Capital Inc.

PLAZA AT CHAPEL HILL (EAST) 4 510-566 Howe Ave. Cuyahoga Falls, 44221

Retail

$11,937,895 Allocated

124,103

$96.19

June 11, 2020

America's Realty

Devonshire REIT Inc.

26

5700 LEE ROAD S. 5700 Lee Road S. Maple Heights, 44137

Industrial

$11,355,855 Confirmed

324,453

$35.00

June 26, 2020

GOJO Industries Inc.

Gladstone Commercial Corp.

RANK

PROPERTY

PROPERTY TYPE

1

HIGBEE BUILDING/JACK CLEVELAND CASINO 2 230 W. Prospect Ave. Cleveland, 44113

2

Source: CoStar and NAI Pleasant Valley; additional research by Chuck Soder (csoder@crain.com) | Crain's does not independently verify all information, and there is no guarantee these listings are complete or accurate. NOTES: 1.

Allocated means the price was estimated from the total price paid for multiple properties. Confirmed means the price has been confirmed by CoStar, NAI Pleasant Valley, county records or a media outlet. Some prices may include business value in addition to real estate. 2. JACK Cleveland Casino and JACK Thistledown Racino were sold in a single transaction for $843.3 million. 3. Sherwin-Williams also purchased an adjacent 1.17 acres from Richard E. Jacobs Group for $9.2 million. 4. This is part of a $45 million deal for several nearby properties. 5. This deal includes several nearby addresses. 6. Units

Want the Excel version of this list — and every Crain's list? Become a Data Member: CrainsCleveland.com/data February 1, 2021 | CRAIN’S CLEVELAND BUSINESS | 17

P017_CL_20210201.indd 17

1/29/2021 3:18:20 PM

DISTRICT

From Page 1

The rollout of what JobsOhio is calling the Cleveland Innovation District comes amid a swirl of innovation-related chatter. There’s the broader strategic vision offered up by the Cleveland Innovation Project, a consortium of nonprofits. There’s planning for physical investments in Midtown, along the Health-Tech Corridor linking downtown Cleveland to University Circle.

There’s the innovation hub at Nottingham Spirk’s headquarters on the city’s East Side, where the product design company is renovating space through a new union with tax and consulting firm Ernst & Young. And there is Innovation Square, a development blueprint for the Fairfax neighborhood immediately south of the Cleveland Clinic’s main campus.

That cascade of similar sounding plans can be confusing and tough to track, even for people working daily in economic development. But in interviews last week, public and private sector leaders said the connections are there. And the collaboration around economic reinvention is real — and essential, if one of the nation’s poorest big cities wants to change its story.

“We effectively have a bunch of puzzle pieces sitting on our table, and some of them are starting to be connected into a picture that could be really cool,” said Bill Koehler, CEO of Team NEO, an economic development organization that acts as JobsOhio’s regional arm. “But we’ve got to keep going and finish the job.”

Driving development The Cleveland Clinic dominated headlines last week with its commitment to spending $300 million and plans for a building — a tower, one source said — for its new Global Center for Pathogen Research & Human Health. But Dr. Tom Mihaljevic, the health care giant’s president and CEO, stressed that the innovation-focused alliance isn’t a Clinic-centric initiative.

Dreamed up before the coronavirus pandemic but forged in the crucible of a public health crisis, the pact closely binds the Clinic with University Hospitals, the MetroHealth System, Case Western Reserve University and Cleveland State University.

“These are the partnerships that drive developments in cities,” said Harlan Sands, CSU’s president. “You can’t find many successful cities that have grown over the last 20 years that don’t have that kind of partnership.”

By spreading up to $110 million among the five institutions, JobsOhio aims to speed up growth — from employment to workforce development to business formation, with an emphasis on health care and technology. The nonprofit corporation, which is funded by profits on statewide liquor sales, hasn’t said how that seed money will be divided.

The hospitals and universities haven’t signed formal agreements with JobsOhio yet. Executives largely weren’t willing to discuss dollars last week.

Only the Clinic, set to receive a state loan and tax credits, and MetroHealth, a public hospital, disclosed numbers. MetroHealth expects to receive $10 million from JobsOhio over two years and will contribute $20 million over five years to a program focused on population health and worker training.

“If we put in a dollar, it’s because

the institutions themselves are putting in multitudes of that over time,” said Aaron Pitts, JobsOhio’s senior managing director for health care.

But, Pitts said, the project is less about the money and more about the partnership and potential outcomes.

Each institution will play a different role, based on its strengths.

MetroHealth, through its new Community Responsive Care Institute, will use data and its presence in Cleveland’s neighborhoods to monitor diseases and look for ways not only to heal people but also to prevent them from getting sick. The hospital will partner with CSU to educate and train workers.

CSU will focus on talent, striving to double the number of graduates in 19 degree tracks over the next decade.

Sands wouldn’t identify those programs, beyond saying they’re related to obvious areas such as life sciences and technology.

CWRU will bulk up its research work, using artificial intelligence, big data and other technologies to improve disease diagnostics and treatment. The university’s role also will involve turning that research into new products and services, producing spinoff companies that might move into buildings in Midtown or on the edges of University Circle.

“This offers tremendous potential for growth and prosperity, economic and health-wise, for Cleveland and Northeast Ohio over time,” said Scott Cowen, CWRU’s interim president.

University Hospitals will help lead research around global health and emerging infections. UH Ventures has agreed to grow research spending by $233 million over a decade and to create 235 jobs — 35 of them physician researchers and highly educated academics, and the rest in administrative support, said David Sylvan, president of the hospital’s innovation and commercialization arm.

The Clinic will substantially expand its work in infectious disease research, building on a pathogen-focused program launched in April 2020. The hospital has pledged to create at least 1,000 jobs in-house before 2029 as part of the partnership.

And the Clinic expects to bring an additional 7,500 jobs to Ohio by 2034 in connection with the innovation district. Those jobs could be at startup companies or established businesses that move to the district to be close to the Clinic and other anchors.

Those commitments put the Clinic on the hook, directly or indirectly, for 85% of the 10,000 jobs in health care-related or high-tech fields that are part of the JobsOhio partnership.

The remaining 10,000 jobs would be in support areas, everything from grocery store workers to janitors to administrative roles.

Cleveland City Councilman Blaine Griffin, who represents neighborhoods south and east of the Clinic, hopes his constituents will have an opportunity to pursue some of those jobs. He’s optimistic that the institutional compact will lead to spillover investments, including new housing at a range of prices.

In addition to JobsOhio funding, the Clinic will receive state incentives — a performance-based job creation tax credit that could be worth $55 million and a $100 million proposed loan. The loan will go toward construction of a new building, to rise on an unidentified site near the Clinic’s existing Lerner Research Institute, located between East 96th and East 100th streets and Carnegie and Cedar avenues.

The Clinic wouldn’t put a timeline

An overview map produced for the innovation district effort in Cleveland’s Midtown neighborhood shows how four of the five institutions in the JobsOhio partnership touch the Health-Tech corridor. The MetroHealth System is further west, but its focus on understanding and addressing health disparities is deeply relevant to the neighborhoods along the corridor. | KENT STATE UNIVERSITY CUDC

A new Cleveland Clinic center focused on understanding and combatting emerging pathogens will serve as an anchor for an emerging innovation district on the city’s East Side. | CLEVELAND CLINIC

on the building project, but the state tax credit — a 15-year incentive — is set to kick in Jan. 1, 2024. The value of that credit will vary based on payroll and hiring. The Ohio Development Services Agency initially said the credit might be worth $35 million but, within hours of a Jan. 25 Ohio Tax Credit Authority meeting, in-

creased that estimate by $20 million based on communication between the Clinic and JobsOhio.

The details of the loan proposal, including the interest rate and term, haven’t been released. State Sen. Matt Dolan, a Chagrin Falls Republican, confirmed in an interview that the Ohio General Assembly will need

DR. AKRAM BOUTROS, METROHEALTH’S PRESIDENT AND CEO, IS THE LONGEST-RUNNING LEADER IN THE GROUP AFTER SEVEN YEARS AT THE HOSPITAL’S HELM. THE CLINIC ELEVATED MIHALJEVIC IN 2018, THE SAME YEAR THAT SANDS TOOK THE REINS AT CSU. UH IS PASSING THE TORCH THIS WEEK. CWRU, BETWEEN PRESIDENTS, WILL WELCOME ITS NEW CHIEF EXECUTIVE THIS SUMMER.

to pass legislation to increase appropriations for the project. The loan ultimately will require approval by the Ohio Controlling Board, a legislative panel.

“We approached this project like we do every economic development deal in the state with our partners, with a really focused mindset on playing the best role that we can,” said Lydia Mihalik, director of the Ohio Development Services Agency.

“And this was obviously an economic development project with significant magnitude that really was a demonstration of not only the public sector’s commitment to this innovation strategy … but the private sector as well.”

“JOBSOHIO’S HAD THIS VISION FOR A FEW YEARS … BUT, Change creates opportunity JobsOhio’s interest in innovation REALLY, THE HARD PUSH WAS WHEN WE HAD STABLE districts — urban areas anchored by LEADERSHIP AT THE TOP.” major institutions, where startups, ——Aaron Pitts, JobsOhio’s senior managing director for health care

entrepreneurs,

academics,

major

18 | CRAIN’S CLEVELAND BUSINESS | February 1, 2021

P018_019_CL_20210201.indd 18

1/29/2021 3:21:15 PM

com bers B ing t be l fact ing land into L stitu D pres gest ter s The 2018 the torc pres chie “J few was at th M tion 2019 tion with tech A hoo betw bran corr derw trial with es c and W a B sign the shep Inc. Jum men land ters Ave “W nou to t hop buil Eps utiv In

UDC

pron ulthe tive

like ment ners, on an,” the ncy. mic cant monsection r as

nity

tion d by ups, ajor

companies and community members collide — dates back a few years.

But the organization, which is trying to diversify the state’s economy to be less reliant on traditional manufacturing, wasn’t ready to put funding behind such an effort in Cleveland until the right ingredients fell into place.

Leadership changes at the five institutions presented an opportunity.

Dr. Akram Boutros, MetroHealth’s president and CEO, is the longest-running leader in the group after seven years at the hospital’s helm.

The Clinic elevated Mihaljevic in 2018, the same year that Sands took the reins at CSU. UH is passing the torch this week. CWRU, between presidents, will welcome its new chief executive this summer.

“JobsOhio’s had this vision for a few years … but, really, the hard push was when we had stable leadership at the top,” Pitts said.

Meanwhile, the Cleveland Innovation Project, formally launched in 2019, had identified health innovation as a key area for growth, along with smart manufacturing and water technologies.

And in the Midtown neighborhood, where a roughly 3-mile span between CSU and the Clinic was rebranded as a health and technology corridor in 2010, planning was underway to turn a once-forlorn industrial area into a nexus for innovation, with new buildings and public spaces connected by pedestrian paths and transit.

Wexford Science and Technology, a Baltimore-based developer, has signed on as master developer for the district, through an effort being shepherded by MidTown Cleveland Inc., the Cleveland Foundation and JumpStart Inc. The kickoff development site sits across from the Cleveland Foundation’s future headquarters, at East 66th Street and Euclid Avenue.

“We believe that the JobsOhio announcement adds significant energy to the efforts with Wexford and are hoping to break ground on the first building as soon as possible,” said Jeff Epstein, MidTown Cleveland’s executive director.

Institutional collaborations are es-

Reporter Lydia Coutré contributed to this article.

Michelle Jarboe: michelle.jarboe@ crain.com, (216) 771-5437, @mjarboe

“WHO KNOWS WHAT WOULD HAVE HAPPENED IF COVID HADN’T HAPPENED, BUT THESE TYPES OF CATACLYSMIC EVENTS — WHETHER IT’S A PERSONAL CATACLYSM OR FAMILY OR THE GREATER WORLD — THEY DO CATAPULT YOU TOWARD DOING THINGS YOU WOULD HAVE LIKED TO HAVE DONE ANYWAY.” ——Dr. Serpil Erzurum, Cleveland Clinic’s chief research and academic officer

PARTNERSHIP

From Page 1

Dubbed the Cleveland Innovation District, the public-private partnership is the second of its kind in the state and will be supported by $155 million from the Ohio Development Services Agency and a $110 million investment from JobsOhio, a nonprofit economic development corporation. Cleveland Clinic has committed another $300 million to the district, which will be anchored by the Clinic’s Global Center for Pathogen Research & Human Health.

The leaders of the five institutions had been working together to try to create a collaborative proposal for the opportunity from JobsOhio before the pandemic, but the dire urgency of the public health crisis ultimately helped unify and accelerate the partners in forming the new collaboration, said Julie Jacono, MetroHealth’s chief strategy officer.

From the start of the pandemic, the institutions looked to one another to better coordinate their efforts, share best practices and find ways to meet extraordinary community needs, said Dr. Serpil Erzurum, the Clinic’s chief research and academic officer. Particularly among the health systems, informal and sometimes infrequent lines of communications turned to regular phone calls and meetings as the hospitals planned to test and care for the community, protect health care workers, develop potential surge space, reduce spread and more.

“Who knows what would have happened if COVID hadn’t happened, but these types of cataclysmic events — whether it’s a personal cataclysm or family or the greater world — they do catapult you toward doing things you would have liked to have done anyway,” Erzurum said.

Ultimately the pandemic accelerated collaboration talks. Having worked with consultants, mediators and various stakeholders to build a partnership, the institutions’ leaders eventually pivoted and winnowed down the group to one representative from each institution, said Jacono, who represented MetroHealth in the discussions, which have been taking place for months.

“I think what the five CEOs said is we’re going to put a small team together, we’re going to remove all outside influence, and we’re going to lock you in a room together and see what you come up with,” Jacono said.

All five institutions have worked with one another over the years in various ways — some formal (joint ventures and investments, cross-institutional research and grants) and others more informal between friends or neighbors.

But previous attempts to get all five behind one project didn’t come to fruition for a variety of reasons, Jacono said.

“It was more platitudes than substance,” she said.

This time looked different.

Scott Cowen, CWRU’s interim president, said the five institutions have had good relationships in the past and have a lot of things in common. They previously didn’t have a reason to come together as a group, he said.

“JobsOhio encouraged us to get together, and by having that conversation, we learned that there’s a lot more we could do together than we ever thought possible,” Cowen said.

Dr. Jim Merlino, the Clinic’s chief clinical transformation officer, invited the representatives from the other four institutions over for dinner in August, where they were “pretty direct about the challenges we would face,” he said. The health systems compete for patients, the uni-

CLEVELAND CLINIC

sential to making such districts work, said Dennis Lower, who served as president and CEO of the 200-acre Cortex Innovation Community in St. Louis for a decade before stepping down in 2020. Cortex, which leaders in Cleveland have studied, debuted in 2002 with funding from five research, health care and educational institutions.

It took roughly eight years and strategic and leadership shifts before Cortex really caught on. But the district, which has employed a mix of private and public funding and economic development tools, is now home to more than 400 companies and 6,000 workers.

In discussing innovation districts, people often get caught up in bricks and mortar, such as the Clinic’s planned research building or speculation about ancillary development.

But these districts aren’t campus expansion sites for institutions, Lower said. They’re strategic endeavors to find a delicate balance between the academic community, major companies and startups.

“This is about program,” he said.

“It’s about synergies. It’s about collaborations. It’s the value-add on top of the real estate. Real estate is absolutely essential, but it’s not sufficient.

Because everybody has real estate.”

From her perch overseas as president of the Global Institute on Innovation Districts, Julie Wagner sees Cleveland’s economic makeup changing, creating “multiple centers of gravity” for growth. In an email, she characterized the JobsOhio partnership as fuel for an innovation district that will connect those nodes as barriers between major players break down.

“Bottom line,” she wrote, “the constellation of these different hubs will give Cleveland a new set of advantages.”

JobsOhio announced its first innovation partnership last year in Cincinnati, allocating up to $100 million to research- and talent-focused initiatives at the University of Cincinnati and Cincinnati Children’s Hospital Medical Center. That agreement formalized a district already in the works and lent momentum and heft to the plan, helping the partners land notable deals, including a talent development program with Microsoft.

The Cincinnati district’s first building, the university-owned 1819 Innovation Hub, is full. Work is underway on 200,000 square feet of a larger planned development called the Digital Futures Complex, said David Adams, the university’s chief innovation officer.

“We’re all collectively in a talent crisis in terms of growing, attracting and collectively retaining our talent,” Adams said of Ohio’s major cities.

“And as a state, we’ve got to keep our own, grow our own and recruit others to be a part of this.”

Ray Leach, CEO of entrepreneurship-focused JumpStart, said the recent JobsOhio announcement and other local innovation collaborations illustrate a shift — a collective acknowledgment that prominent people and institutions have much more to gain by working together than by standing apart.

“It’s a different way to operate, and I’m very encouraged that we’ve made the progress we’re making,” Leach said. “But it’s one day at a time and one project at a time.”

Although CSU president Harlan Sands believes the effort would have come together without COVID-19, he said the pandemic changed the nature of the partnership. It brought together health systems in a way that got the group thinking about health care in a post-pandemic world, including socioeconomic factors and the inequitable distribution of health care in the United States, he said.

“I think the pandemic is driving where this group effort is going and how it’s going to not just be good for the Cleveland Clinic or UH or Metro, but it’s going to be good for all the citizens of Cleveland,” Sands said.

Whether the new avenues for collaboration are sustainable is the “million-dollar question,” Merlino said, adding that he’s optimistic.

With the structure they’re putting in place and commitments from the organizations’ leaders, “we will sustain it,” he said.

Historically, the notion that competition should keep entities apart really set the trend that institutions should take care of themselves, Sylvan said. And while they will continue to compete when it makes sense to do so, the channels of communication established in the past year and the formal commitment to

“CONJURING AND PROPOSING AN ALIGNED INNOVATION ECOSYSTEM FOR THE FIVE OF US WAS A LAUDABLE END GOAL CONCEPT — A LITTLE HARDER TO ACCOMPLISH IN AN ENVIRONMENT THAT CANDIDLY HASN’T ALWAYS PUT ITS BEST COLLABORATION FOOT FORWARD.” ——David Sylvan, president of UH Ventures, the innovation arm of University Hospitals

versities for students and all five compete for investment and philanthropy dollars.

They found common ground in a common enemy: COVID-19.

Building a framework for each organization to continue its own work and expertise with the support of others also helped solidify collaboration plans. Rather than mixing resources and forming shared governance, each institution could bring to the table its own focus and expertise to amplify the work of the partners.

“So, it’s not forcing any one of us to detour, but it is forcing us to share across the other four institutions so that we can get to that destination faster,” Jacono said.

work collaboratively in the Cleveland Innovation District mark a new chapter.

“Of course, at the end of the day, a patient is a patient certainly when it comes to a shared community,” Sylvan said. “And I think it took a catalyzing event like a pandemic to force us to shed ego and to force us to think about ‘coopetition’ (collaboration between competitors) versus pure competition. And I think those elements are probably destined to be sustained.”

Reporter Michelle Jarboe contributed to this article.

Lydia Coutré: lcoutre@crain.com, (216) 771-5479, @LydiaCoutre

February 1, 2021 | CRAIN’S CLEVELAND BUSINESS | 19

P018_019_CL_20210201.indd 19

1/29/2021 3:21:37 PM

AKRON REAL ESTATE

New entertainment development taking shape in Bath Township Wine bar, restaurant and golf simulation club to land at 22,500-square-foot Bath Provisions BBY KAREN FARKAS

ed in partnering their food with EMMA’s wine. The Bruntys will run the Pitchfork restaurant at the site.

A long-neglected parcel at a gate“We hit it off, and it’s a dynamic way to Bath Township will be develfood concept,” he said. oped into a 22,500-square-foot buildPav’s Creamery will open its fifth ing that will house a wine bar, location. The owners, who are not part restaurant, ice cream store, private of Stonemill, are leasing their space. club for golf and other game simula“All of us are fans of Pav’s ice cream tions, and businesses. and custard and reached out to them Bath Provisions, at the intersection to see if they had any interest in the of Ghent and Cleveland-Massillon project,” Giltner said. “They really did roads, is owned by Stonemill Real Esand have been great to work with.” tate, a company formed in 2019 speThe Corner Club, a members-only cifically for the development. golf simulation club, will be owned by Construction, delayed a year beGiltner and his wife, Megan, and Dercause of the COVID-19 pandemic, will begin this spring, said Tom Giltek and Erin Klaus of Akron. It will be C RBath A I NProvisions ’ S C L E V Ebuilding, L A N D Bwhich U S I Nwill E Sbe S home | SE E M B E R 3 -wine 9 , 2bar, 018golf | simulation PA G E 3 7 family friendly and feature other ner, who is overseeing the project. This rendering shows the 22,500-square-foot toPaT restaurant, R A I N |’ CONTRIBUTED S C L E V ERENDERING L A N D B U S I N E S S | S E P T E M B E R 3 - 9 , 2 018 | PA G E 3 7 The businesses are expected to open club and more. Construction will begin thisCspring. games, including dodgeball, Giltner said. Food and beverages from EMMA in October, hopefully when restricC R A I N ’ S C L E V E L A N D B U S I N E S S | S E P T E M B E R 3 - 9 , 2 018 | PA G E 3 7 tions are eased on social distancing efits consultant, said he became inter- options for EMMA here then looked $395,000 in March 2019 and bought an and Pitchfork will be available.

Stonemill also is seeking one or ested in the property in late 2018. He at that corner and couldn’t believe adjacent parcel from a private owner for and dining indoors, he said.

“We are super excited about it,” and three friends, who were establish- nothing had come in,” Giltner said of $150,000, Giltner said. The township ap- two professional or medical tenants said Giltner, a Bath resident. “All the ing a wine bar in Cincinnati, were seek- the Bath Township land. He met with proved some zoning changes for the 3 for the 4,188-square-foot space on tenants are so complementary.” ing a second location in his hometown. township officials and began to con- acres, and the final plans will be submit- the second floor.

Sinopoli said township officials The site, near Interstate 77, is the Giltner said he and fellow Universi- sider a development. ted to the trustees within a month. consider the locaformer location of Jimbo’s Drive-In ty of Dayton alums Jeff Pater, Mike The triangular parIn addition to the four founders of and a gas station. Both closed in the C RDoenges partners also cel was challenging, “WE ARE SUPER tion part of its heriA I N ’ S C Land E V E Kevin L A N D Bullinger B U S I N E S mirS | SEMMA, E P T E M BStonemill’s E R 3 - 9 , 2 018 | PA G E in37 A I N ’ SEMMA: C L E V Wine E L A Nwith D BU S I N E S on S a| Sclude E P T E Mattorney B E R 3 - 9Irv , 2 018 | PA GDoug E 37 early 2000s and the township pur- C Rrored and they needed to tage corridor and Sugerman; Friends, EXCITED ABOUT IT. wanted any developthe CEO of Bounce Innova- ensure access from chased the land in 2010, said town- C Rbar A I Nthey ’ S Chad L E Vvisited E L A Nin D Kiawah B U S I N EIsland, S S | SWeintraub, E P T E M B E R 3 - 9 , 2 018 | PA G E 3 7 ship administrator Vito Sinopoli. He S.C., which allowed patrons to pour tion Hub; and Jeff and Melanie Brunty, both roads, he said. ALL THE TENANTS ARE ment to complement worked the area. He said said one proposal, for a takeout their own wine from taps. EMMA, owners of The Farmer’s Rail butcher Stonemill with Mann Parsons SO COMPLEMENTARY.” Bath restaurant in 2013, did not proceed named from the first initials of their shop and market in Bath Township.

Provisions wives, opened in Cincinnati in 2019. because of a lack of financing.

Stonemill, founded in February 2019, Gray Architects in ——Tom Giltner, Stonemill meets that goal.

“We looked at a couple of different purchased the township property for Fairlawn and builder/ Real Estate partner Giltner, a financial adviser and benAnd Stonemill developer CAM Inc. in agreed to a township Advertising Section Uniontown. Bath Provision’s three-sto- proposal — that a featured “Bath Advertising Section ry building will be on a slope, with two Township” sign be placed on the Advertising Section stories visible from the main parking lot. property at the apex of the intersecThere will be 120 parking spaces. tion, Sinopoli said.

Giltner said when the partners de“The developer is certainly excited cided to create a development for to get going, and we certainly want to EMMA, he contacted the Bruntys, make sure he is successful,” he said. who will open Farmer’s Rail locations in Hudson and Cuyahoga Falls this Contact Karen Farkas: year, and asked if they were interest- clbfreelancer@crain.com

CLASSIFIEDS CLASSIFIEDS CLASSIFIEDS

To To place place your your listing listing in in Crain’s Crain’s Cleveland Cleveland Classifieds, Classifieds, To placeAinsley your listing in Crain’s Cleveland Classifieds, contact Burgess at contact Ainsley Burgess at ainsley.burgess@crain.com ainsley.burgess@crain.com contact Ainsley Burgess at ainsley.burgess@crain.com

AGENDA

BUSINESS SHOWCASE BUSINESS SHOWCASE

BUSINESS SHOWCASE BUSINESS SHOWCASE

From Page 6

BUSINESS SHOWCASE

BUSINESS SHOWCASE

“A more equitable region would be a more economically advanced region than we have today, and our agenda seeks to address that,” McGann said. “We are trying to encourage minority business support and real wealth-building in these communities through supported public policy, and ensure that we are removing barriers to getting investment in minority-owned businesses.”

The state program to certify minority-owned businesses is in dire need of review, McGann said. He noted that some GCP members contend the program is difficult to navigate, and at the same time has been taken advantage of by non-minority-owned businesses.

GCP’s policy agenda encourages technology as a means to foster equity by streamlining business processes, including the minority-owned and women-owned certification process as well as regulatory compliance, licensing and permitting required by the state.

“We have long supported government modernization,” McGann said.

“The pandemic has demonstrated even more the need for us to modernize at both the city and the state level.”

Workforce development, a longstanding priority for GCP, has broad-

$1,870,000 $1,870,000 First $1,870,000 First Mortgage First Mortgage Secured Mortgage Secured Notes Secured Notes 12% Yearly Interest Notes 12% Yearly Interest

Paid Monthly 12% Yearly Interest Paid Monthly $100,000 Minimum Paid Monthly $100,000 Minimum Investment $100,000 Minimum Investment TITAN FINANCE LLC TITAN FINANCE LLC Investment 440-951-1111 TITAN FINANCE LLC 440-951-1111 Ask for Jennie Ask for Jennie 440-951-1111 Ask for Jennie

BUSINESS OPPORTUNITY BUSINESS OPPORTUNITY BUSINESS OPPORTUNITY

50 Year 50 Year Laminating Business Laminating Business 50customers Year Automotive 2019 Automotive customers 2019 Laminating Business Sales $1.5 million eastside

THE BAYWATER COMPANIES THE BAYWATER COMPANIES BAYWATER CAPITAL PARTNERS LTD LLC THE BAYWATER COMPANIES BAYWATER CAPITAL PARTNERS LTD LLC BAYWATER REALTY COMPANY LIMITED LLC BAYWATER CAPITAL PARTNERS LTD LLC BAYWATER REALTY COMPANY LIMITED LLC BAYWATER MANAGEMENT BAYWATER REALTY COMPANYCOMPANY LIMITED LLC BAYWATER MANAGEMENT COMPANY ARE ACTIVELY ENGAGED BAYWATER MANAGEMENT COMPANY ARE ACTIVELY ENGAGED IN THE ACQUISITION, MANAGEMENT ARE ACTIVELY ENGAGEDAND LEASING IN THE ACQUISITION, MANAGEMENT AND LEASING OF ACQUISITION, COMMERCIAL REAL ESTATE PROPERTIES IN THE MANAGEMENT AND LEASING OF COMMERCIAL REAL ESTATE PROPERTIES OF COMMERCIAL REAL ESTATE PROPERTIES THE BAYWATER COMPANIES

THE BAYWATER COMPANIES

5900 Landerbrook Drive, Suite 290 THELanderbrook BAYWATER COMPANIES 5900 Drive, Suite 290 Cleveland, Ohio 44124 - 4020 5900 Landerbrook Cleveland, Ohio Drive, 44124 Suite - 4020290 440-473-1700 * 440-461-9695 (fax) Cleveland, Ohio 44124 - 4020(fax) 440-473-1700 * 440-461-9695 440-473-1700 * 440-461-9695 (fax) BUSINESS OPPORTUNITY ENVIRONMENTAL CONSULTING BUSINESS OPPORTUNITY ENVIRONMENTAL CONSULTING

BUSINESS OPPORTUNITY Professional Women’s Professional Women’s Sport Franchise Sport Franchise Professional Women’s For Sale For Sale Sport Franchise www.empirebusinesses.com www.empirebusinesses.com 440-461-2202 For Sale

Sales $1.5 customers million eastside Automotive 2019 Contact Lance at 216-225-3457 440-461-2202 Contact Lance at 216-225-3457 www.empirebusinesses.com Sales $1.5 million eastside 440-461-2202 Lance at BUSINESS 216-225-3457 20Contact | CRAIN’S CLEVELAND | February 1, 2021

P020_CL_20210201.indd 20

ENVIRONMENTAL CONSULTING

ened from focusing solely on upskilling an existing workforce to advocating for programs that provide industry-specific micro credentials and funding K-12 education, internships or apprenticeship programs.

The agenda urges local businesses to leverage business attraction, retention and expansion programs and funding from JobsOhio, a nonprofit entity that funds economic development with profits from retail and wholesale liquor sales, which hit a record $1.57 billion in 2020.

On the federal level, GCP is advocating for a place-based immigration program and increases in the number of H-1B visas — two means of augmenting the workforce with more high-skilled workers coming into the region.

GCP’s public advocacy also includes support for national LGBTQ legal protections that add gender identity and sexual orientation to civil rights laws, and the New Markets Tax Credit program, which incentivizes economic development through the use of tax credits to attract private investment in distressed communities.

“We are a chamber of commerce, and business is important, but we also realize that we have to engage in a way that will advance the community collectively,” McGann said.

Kim Palmer: kpalmer@crain.com, (216) 771-5384, @kimfouroffive

1/29/2021 3:23:32 PM

MATEYO

THE WEEK

From Page 9

Huntington Bank has asked members of the Cuyahoga County Convention Facilities Development Corp. for some “relief” from their financial commitment for naming rights of the Huntington Convention Center of Cleveland. | DAVID KORDALSKI/CRAIN’S CLEVELAND BUSINESS

THIS IS BIG: The state, JobsOhio and the Cleveland Clinic are committing $565 million to creating an innovation hub in Cleveland, anchored by a planned global center for pathogen research on the hospital system’s main campus. (See more, Page One) A LITTLE HELP HERE: Huntington Bank is looking for Cuyahoga County to cut it some slack on its naming rights agreement for the Huntington Convention Center of Cleveland.

Matt Carroll, chief economic growth and opportunity officer for the county, told members of the Cuyahoga County Convention Facilities Development Corp. that the Columbus-based bank approached him about some “relief” on the financial side of the naming rights agreement, which was previously put in place with Akron’s former FirstMerit Bank in 2015. Huntington assumed that contract and the naming rights when it acquired FirstMerit in 2016. The 20-year deal extends through 2035 and is valued at $10 million. The inquiry came as foot traffic at the convention center has dropped off because of the cancellation of events during the pandemic. Huntington declined comment.

180, generating $9 million in new payroll.

DOWNSIZING FOR NOW: Software and content services provider Hyland laid off an unspecified number of employees as part of a larger strategic plan. The Westlake-based company said it ultimately plans to increase its employee count by 15% this year but that it has eliminated some jobs on its current team. “As we focus on innovating our platform and strategically expanding our global footprint, we have made the difficult decision to eliminate some positions on our current product delivery team,” the statement read.

Hyland last September had about 3,700 employees globally.

BUILDING UP: The Urban League of Greater Cleveland unveiled a program to provide capital exclusively to minority-owned small business

in the Cleveland area — and it’s looking for some additional donors interested in furthering racial equity in Northeast Ohio. The initiative, dubbed the UBIZ Loan Fund, is considered the second phase of the Capital Access Fund initiative, said Michael Obi, leader of the Urban League of Greater Cleveland’s entrepreneurship center and president of UBIZ Venture Capital, the entity managing the minority-focused lending program. The CAF provided $4.2 million in small business loans to 29 minority-owned firms between 2016 and 2019. The idea for the UBIZ Loan Fund is similar to CAF in its mission to get capital in the hands of minority-led small businesses. The loans have repayment terms of between three to five years and any proceeds are reinvested back into the fund to finance additional loans in the future.

CITY-BOUND: CrossCountry Mortgage’s planned headquarters move from the suburbs to Cleveland’s Superior Arts District got a boost Monday, Jan. 25, in the form of tax credits tied to growing employment. The Ohio Tax Credit Authority approved an eight-year, 1.655% job creation tax credit for CrossCountry, which is currently based in Brecksville. The fast-growing mortgage lender is plotting a move to the eastern edge of downtown, where a cluster of vacant, historic buildings are slated to become new offices, a call center and training facilities. Ohio has been vying against Illinois for the project. The Brecksville-based CrossCountry Mortgage plans to move its headquarters and hundreds headquarters deal is projected to of employees to this vacant building at Superior Avenue and East 22nd Street at the keep 446 jobs in Ohio and create eastern edge of downtown Cleveland. | MICHELLE JARBOE/CRAIN’S CLEVELAND BUSINESS

The third reason, we think the gap between U.S. and international equities may narrow has to do with the U.S. dollar. In our estimation, forecasting currencies is fraught with difficulty and has proven costly for many who attempt to do so.

When it comes to currency, as is the case for many things, we avoid making point-specific forecasts. Instead, we often discuss outcomes that might ensue. This caveat aside, we think it is reasonable to assume that a weaker dollar is more likely than a stronger one over time. A strong U.S. dollar could materialize in another risk-off environment, such as the episode in the immediate aftermath of COVID-19 when the dollar spiked 10% from late February to early March. Since then, however, the dollar has reversed itself by roughly the same amount.

Similar to our premise that value stocks might gain momentum as the economy picks up steam, a global recovery could also likely introduce further headwinds for the U.S. dollar, thus assisting international stocks.

Though not universally true, the U.S.’s fiscal situation is weaker relative to other countries in the world.

This is partly due to COVID-19-related spending and previously initiated stimulus measures.

The U.S. dollar is still the world’s reserve currency and affords our economy with considerable advantages. But due to some fiscal dynamics and the fact that the Fed is likely to print more money relative to other central banks, the greenback may weaken.

Finally, as we expect the Fed to maintain its ultra-accommodative policy stance by keeping interest rates low and levels of stimulus high, inflation can possibly prevail.

This prospect provides another support for value-oriented and international stocks at the expense of growth-oriented and domestic shares. Moreover, should an inflationary regime emerge, it would represent a significant shift and require new tools to protect and enhance one’s portfolio.

Another issue to address is inflation, which has been relatively dormant for many years. Globalization, innovation, demographics, pro-busi-

CAMARDO

From Page 9

2021 brings us a chance to start correcting this failure. Most importantly for the regionalism cause, Cleveland will have the chance to elect a new mayor who can appropriately prioritize the issue. Open seats for Cuyahoga County Council and competitive Cleveland City Council elections offer up additional opportunities to further the cause. Young, smart, data-savvy candidates like Justin Bibb and Rebecca Maurer give hope that a new generation of leader will take seriously the issues created by overly stratified local government and finally seek to rectify the seemingly intractable problem.

But to ensure we move the needle on regionalism, it is up to our institutions and traditional gatekeepers — media outlets, the City Club crowd, the Greater Cleveland Partnership, block clubs and churches

ness policies, and other forces have been powerful catalysts behind this trend of disinflation (an environment marked by prices rising but at a slower rate than in the past). In fact, since 2008, inflation has only exceeded the Fed’s 2% inflation target 13% of the time. More interesting, nearly 40% of these occasions occurred in 2018, when inflation for the full year met (but did not exceed) the 2% threshold even as unemployment fell to unprecedented lows, typically a harbinger for inflation. The impact of COVID-19 and an about-face in some of the disinflationary dynamics might reverse this trend.

In a typical recession, demand falls quickly, but supply reacts more slowly, leading to a glut in inventory. Prices then reduce to stimulate demand. Last year, pandemic related lockdowns triggered simultaneous declines in supply and demand. And because of difficulties in restarting supply chains, supply has lagged demand, leaving inventories for many goods sparse and causing prices to increase. Concurrently, due to the Fed’s abundance of liquidity provided in response to economic shutdowns, more money is chasing fewer goods in some instances.

Ongoing physical distancing restrictions also will likely increase costs for most businesses going forward. Such costs include labor, which might also experience price increases as minimum wages increase. These are all potentially inflationary trends.

At the same time, the aftermath of COVID-19 may cause higher prices; globalization may have peaked, removing a disinflationary tailwind. Contrary to some, we do not think that globalization is over.

But globalization’s impact on prices (particularly labor) may have reached its zenith.

A final consideration is the need for liquidity should be prudently re-evaluated.

Upon doing so, one may find opportunities in investing in less-liquid instruments. In many instances, the benefits have outweighed the costs, especially for those investors who are willing to consider the implications of investing when decades happen in weeks.

While our outlook for 2021 is promising, it is also no substitute for a long-term perspective and experienced, conflict-free advice.

— to press each candidate on his or her regionalism platform and to hold elected officials accountable for failing to act. Seemingly once every three or so years, talk of some regionalism effort will creep up in local news reports only to be drowned out by the deafening silence of local elected officials and civic leaders. Now, with a brewing municipal income tax storm on the horizon, Greater Cleveland can no longer afford to bury its head in the sand.

We are growing poorer and losing population every year. Continuing to spend unnecessary money on duplicative government services — and fighting among ourselves for who has the right to collect the taxes to pay for those duplicative services — is madness.

We must elect officials who understand the problem and have the political courage to tackle the issue head-on. And it is up to our local media and institutional gatekeepers to ensure that they do. The region’s future depends on it.

February 1, 2021 | CRAIN’S CLEVELAND BUSINESS | 21

P021_CL_20210201.indd 21

1/29/2021 12:06:00 PM

PEOPLE ON THE MOVE

Advertising Section To place your listing, visit www.crainscleveland.com/people-on-the-move or, for more information, contact Debora Stein at 917.226.5470 / dstein@crain.com

ACCOUNTING

LAW

LAW

LAW

LAW

Apple Growth Partners

Gallagher Sharp LLP

Mansour Gavin LPA

Roetzel & Andress

Apple Growth Partners proudly welcomes Jenifer Hamilton, CPA, MSA, as a senior tax manager. Jenifer is an experienced CPA, having established her career dedicated to public accounting for more than 14 years. She specializes in tax returns, gift tax returns, and financial statement preparation. She holds both a Bachelor of Accounting and a Master of Science in Accounting from Kent State University, where she was the Honors College newsletter editor.

Gallagher Sharp is pleased to announce that Gary D. Baker Jr., Esq. has joined the firm as an Associate. Gary focuses his practice on representing state-fund and self-insured employers before the Industrial Commission of Ohio in workers’ compensation matters. He also defends manufacturers against claims alleging product liability. Gary received his law degree from Cleveland-Marshall College of Law and his undergraduate degree from Case Western Reserve University.

Mansour Gavin is pleased to announce that Daniel J. McGuire has been elected to the firm’s partnership.

Focusing his practice on estate planning and trusts, Dan has represented clients in the entire wealth spectrum and is adept at advising clients to address changing circumstances that require planning for the future. Prior to joining Mansour Gavin in 2018, Dan was in private practice and later joined the trust department at PNC. He earned his J.D. from Case Western Reserve University School of Law.

Roetzel & Andress is proud to announce that J. Benjamin Fraifogl has been promoted to Shareholder. Mr. Fraifogl has experience in the areas of energy law and real estate, with an emphasis on oil, natural gas, solar energy and wind energy. He represents clients in lease negotiations, land use agreements, mineral ownership and curative work, and drilling opinions, as well as related litigation at both the trial and appellate level. Mr. Fraifogl earned his J.D. from Notre Dame Law School.

Weltman, Weinberg & Reis Co., LPA Weltman is pleased to announce Shareholder David Head has been named Chair of the firm’s largest practice group, Consumer Collections. David has been the firm’s lead consumer collections attorney in the state of Ohio for several years and is currently the Chair of the Education Loan Recovery and Litigation Group.

Additionally, he serves as the Office Managing Attorney for the Cleveland, Ohio office, where he spearheads employee engagement initiatives.

ADVERTISING / MARKETING REAL ESTATE

Innis Maggiore Innis Maggiore, the nation’s leading positioning ad agency, hired Rose Browning as director of media services. She will lead the agency’s media-related activities, including strategy, research, planning, buying, negotiating and reporting. She will also manage the team of associates handling digital marketing services, including content marketing, marketing automation and social media strategy, execution and analytics.

She previously was vice president of media strategy at JMC Brands.

Premier Development Partners

LAW

LAW

LAW

Gallagher Sharp LLP

Roetzel & Andress

Roetzel & Andress

Gallagher Sharp is pleased to announce that Randa E. Payne, Esq. has joined the firm as an Associate.

Randa defends employers in management liability suits and lawyers against malpractice claims. She also represents members of the trucking industry in personal injury, property damage, and wrongful death claims arising from commercial motor vehicle accidents. Randa received her law degree from Case Western Reserve University School of Law and her undergraduate degree from Ursuline College.

Diana M. Feitl has recently been elevated to Shareholder at Roetzel & Andress.

Ms. Feitl focuses her practice in all aspects of public law, including government relations, litigation, education law, employment, regulatory and compliance matters. As part of her practice, Ms. Feitl counsels small and large companies, government organizations, and nonprofit entities on legislative and legal matters in a diverse range of industries. She earned her J.D. from Case Western University School of Law.

Roetzel & Andress is pleased to announce that Jessica Lopez has been promoted to Shareholder. Ms. Lopez focuses her practice on complex business and commercial litigation, professional liability litigation, and intellectual property litigation. She works with businesses and individuals to navigate and manage existing and potential litigation needs in both state and federal courts.

Ms. Lopez received her J.D./ LL.M. from The University of Akron School of Law.

CONSULTING

Accenture Severine De Wagheneire was named Office Managing Director of Accenture in Cleveland. She will be responsible for overseeing the growth of the local business as well as building relationships within Cleveland.

Severine began her career at Accenture in 1995, focusing on large transformational programs to improve clients’ stakeholder value through technology. A native of Belgium, she graduated with a Bachelor’s degree in Mechanical Engineering from McGill University in Montreal.

SHARE

YOUR

COMPANY’S

JOURNEY

Feature your latest milestones, launches, partnerships, awards and more in Crain’s

For more information, contact Debora Stein at dstein@crain.com or submit directly to

CRAINSCLEVELAND.COM/COTM

22 | CRAIN’S CLEVELAND BUSINESS | FEBRUARY 1, 2021

Premier Development Partners is proud to announce that Frank Black has been promoted to Senior Vice President. Frank came to premier in 2015, bringing with him vast amounts of knowledge and experience in the real estate and development world. Frank has continually gone beyond with his responsibilities of identifying, analyzing, and originating ground-up development and value-add investment opportunities. Frank is also engaged in complex contract negotiations, market analysis, underwriting, due diligence, financial modeling, leasing, asset acquisition, and disposition.

crainscleveland.com

Publisher Mike Schoenbrun (216) 771-5174 or mike.schoenbrun@crain.com Executive editor Elizabeth McIntyre (216) 771-5358 or emcintyre@crain.com Group publisher Jim Kirk (312) 397-5503 or jkirk@crain.com Managing editor Scott Suttell (216) 771-5227 or ssuttell@crain.com Assistant managing editor Sue Walton (330) 802-4615 or swalton@crain.com Creative director David Kordalski (216) 771-5169 or dkordalski@crain.com Web editor Damon Sims (216) 771-5279 or dasims@crain.com Assistant editor Kevin Kleps (216) 771-5256 or kkleps@crain.com Senior data editor Chuck Soder (216) 771-5374 or csoder@crain.com Editorial researcher William Lucey (216) 771-5243 or wlucey@crain.com Cartoonist Rich Williams REPORTERS

CRAIN’S

THOUGHT LEADER FORUM Position yourself as a thought leader in your field.

MARCH 15 // Legal affairs APRIL 19 // Recruitment and retention MAY 17 // Personal finance and investing JUNE 21 // Real estate

Showcase your industry expertise in this paid feature from Crain’s Content Studio – Cleveland. Use this opportunity to speak to the Northeast Ohio community about current events, trends and hot issues affecting the region alongside similarly themed content.

This is a fully integrated forum, encompassing print, digital and e-newsletter components.

JULY 19 // Employee benefits AUGUST 16 // Planning for 2022 SEPTEMBER 20 // Family Law

Stan Bullard, senior reporter, Real estate/ construction. (216) 771-5228 or sbullard@crain.com Lydia Coutré, Health care/nonprofits.

(216) 771-5479 or lcoutre@crain.com Michelle Jarboe, Enterprise reporter.

(216) 771-5437 or michelle.jarboe@crain.com Amy Morona, Higher education.

(216) 771-5229 or amy.morona@crain.com Rachel Abbey McCafferty, Manufacturing, K-12 education, technology. (216) 771-5379 or rmccafferty@crain.com Jay Miller, Government.

(216) 771-5362 or jmiller@crain.com Jeremy Nobile, Finance/legal/beer/cannabis.

(216) 771-5255 or jnobile@crain.com Kim Palmer, Government.

(216) 771-5384 or kpalmer@crain.com Dan Shingler, Energy/steel/auto/Akron.

(216) 771-5290 or dshingler@crain.com

GET MASTHEAD FROM LIBRARY

ADVERTISING

Local sales manager Megan Norman, (216) 771-5182 or mnorman@crain.com Events manager Erin Bechler, (216) 771-5388 or ebechler@crain.com Integrated marketing manager Cody Smith, (330) 419-1078 or cody.smith@crain.com Managing editor custom/special projects Amy Ann Stoessel (216) 771-5155 or astoessel@crain.com Senior account executive John Petty Account executives Laura Kulber Mintz, Loren Breen, Mara Broderick People on the Move manager Debora Stein, (917) 226-5470, dstein@crain.com Pre-press and digital production Craig L. Mackey Office coordinator Karen Friedman Media services manager Nicole Spell Billing YahNica Crawford Credit Thomas Hanovich CUSTOMER SERVICE

OCTOBER 18 // Manufacturing NOVEMBER 15 // Big data and trends DECEMBER 20 // Economic outlook Close date 4 weeks prior to publication date; materials must be received 2 weeks prior to publication.

See a topic you’re interested in influencing?

Contact Mike Schoenbrun at mike.schoenbrun@crain.com for more information on this custom advertising opportunity.

Customer service and subscriptions: (877) 824-9373 or customerservice@crainscleveland.com Reprints: Laura Picariello (732) 723-0569 or lpicariello@crain.com

Crain’s Cleveland Business is published by Crain Communications Inc. Chairman Keith E. Crain Vice chairman Mary Kay Crain CEO KC Crain Senior executive VP Chris Crain Secretary Lexie Crain Armstrong Chief Financial Officer Robert Recchia G.D. Crain Jr. Founder (1885-1973) Mrs. G.D. Crain Jr. Chairman (1911-1996) Editorial & Business Offices 700 W. St. Clair Ave., Suite 310, Cleveland, OH 44113-1230 (216) 522-1383 Volume 42, Number 4 Crain’s Cleveland Business (ISSN 0197-2375) is published weekly, except no issues on 1/4/21 nor 7/5/21, combined issues on 5/24/21 and 5/31/21, 8/30/21 and 9/6/21, 11/22/21 and 11/29/21, at 700 West St. Clair Ave., Suite 310, Cleveland, OH 44113-1230.

Copyright © 2021 by Crain Communications Inc. Periodicals postage paid at Cleveland, OH, and at additional mailing offices.

Price per copy: $2.00.

Postmaster: Send address changes to Crain’s Cleveland Business, Circulation Department, 1155 Gratiot Avenue, Detroit, MI 48207-2912.

1 (877) 824-9373.

Subscriptions: In Ohio: 1 year - $64, 2 year - $110. Outside Ohio: 1 year - $110, 2 year - $195. Single copy, $2.00. Allow 4 weeks for change of address. For subscription information and delivery concerns send correspondence to Audience Development Department, Crain’s Cleveland Business, 1155 Gratiot Avenue, Detroit, MI, 48207-9911, or email to customerservice@crainscleveland.com, or call (877) 824-9373 (in the U.S. and Canada) or (313) 446-0450 (all other locations), or fax (313) 446-6777.

February 1, 2021 | CRAIN’S CLEVELAND BUSINESS | 23

P023_CL_20210201.indd 23

1/29/2021 3:44:23 PM

CRAIN’S EDITORIAL FORUM

THE DIGITAL DIVIDE MAY 12

10– 11 A.M.

BE A PART OF THE SOLUTION Join us for a very important morning forum as we tackle this monumental issue head on with local experts and the Crain’s newsroom.

A not-to-miss event.

REGISTER TODAY: Crainscleveland.com/DigitalDivideEvent SPONSORSHIP INFORMATION: mike.schoenbrun@crain.com