2018 Economic Impact and Fiscal Impact Report

2018 economic and fiscal impact report

Prepared By

june 2019

Table of Contents EXECUTIVE SUMMARY ........................................................................................................... 1 TOTAL ECONOMIC IMPACT (JUMPSTART + PARTNERS) ................................................................................. 3 JUMPSTART’S THREE PRIMARY LINES OF BUSINESS ...................................................................................... 5 TECH VS NON-TECH COMPANIES ..................................................................................................................... 8

ABOUT JUMPSTART ............................................................................................................ 10 ABOUT THIS REPORT .......................................................................................................... 12 WHAT IS AN ECONOMIC IMPACT REPORT? ...................................................................................................12 WHY DOES JUMPSTART COMMISSION AN ECONOMIC IMPACT REPORT? .................................................13 DATA AND ANALYSIS ........................................................................................................................................13 AREAS OF ANALYSIS .........................................................................................................................................16

1. JUMPSTART + PARTNERS TOTAL WORK ECONOMIC IMPACTS ..................................... 19 JUMPSTART + PARTNERS TOTAL WORK – OHIO AND NEW YORK ...........................................................20

2. JUMPSTART TOTAL WORK ECONOMIC IMPACTS .......................................................... 23 JUMPSTART TOTAL WORK – OHIO .................................................................................................................24

3. TECH ESP TOTAL WORK ECONOMIC IMPACTS ............................................................. 27 TECH ESP TOTAL WORK – OHIO ...................................................................................................................28 JUMPSTART SERVICED COMPANIES – OHIO ..................................................................................................31 JUMPSTART FUNDED COMPANIES – OHIO .....................................................................................................33 NETWORK SERVICED COMPANIES – OHIO .....................................................................................................35 NETWORK FUNDED COMPANIES – OHIO .......................................................................................................37 EXITED ESP COMPANIES – OHIO ....................................................................................................................39

4. NON-TECH TOTAL WORK ECONOMIC IMPACTS............................................................ 41 NON-TECH TOTAL WORK – OHIO AND NEW YORK ....................................................................................42 CORE CITY: CLEVELAND PROGRAMS ..............................................................................................................45 CORE CITY: CLEVELAND – CUYAHOGA COUNTY...........................................................................................46 KEYBANK BUSINESS BOOST & BUILD PROGRAM .........................................................................................48 KEYBANK BUSINESS BOOST & BUILD: NEW YORK.......................................................................................49 THE KEYBANK CENTER FOR TECHNOLOGY, INNOVATION AND INCLUSIVE GROWTH – OHIO ................51

5. JUMPSTART INTERMEDIARY PARTNERS TOTAL WORK ECONOMIC IMPACTS ............... 53

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Executive Summary │ JumpStart 2018 Economic Impact Report

JUMPSTART INTERMEDIARY PARTNERS TOTAL WORK................................................................................54

LEADERSHIP PARTICIPATION .............................................................................................. 57 STUDY METHODOLOGY ....................................................................................................... 58 TERMINOLOGY ....................................................................................................................................................58 ABOUT IMPLAN ...............................................................................................................................................59 ABOUT SILVERLODE CONSULTING ..................................................................................................................59

APPENDIX 1: JUMPSTART + PARTNERS TOTAL WORK ECONOMIC IMPACTS ............... 62 JUMPSTART + PARTNERS TOTAL WORK – OHIO .........................................................................................63 JUMPSTART + PARTNERS TOTAL WORK – NORTHEAST OHIO ..................................................................65 JUMPSTART + PARTNERS TOTAL WORK – CUYAHOGA COUNTY ..............................................................67 JUMPSTART + PARTNERS TOTAL WORK – CLEVELAND ..............................................................................69 JUMPSTART + PARTNERS TOTAL WORK – NEW YORK ...............................................................................71

APPENDIX 2: TECH ESP TOTAL WORK ECONOMIC IMPACTS ....................................... 73 TECH ESP TOTAL WORK – NORTHEAST OHIO ............................................................................................74 TECH ESP TOTAL WORK – CUYAHOGA COUNTY ........................................................................................76 TECH ESP TOTAL WORK – CLEVELAND ........................................................................................................78 JUMPSTART SERVICED COMPANIES – NORTHEAST OHIO ...........................................................................80 JUMPSTART FUNDED COMPANIES – NORTHEAST OHIO ..............................................................................82 NETWORK FUNDED COMPANIES – NORTHEAST OHIO ................................................................................84 EXITED ESP COMPANIES – NORTHEAST OHIO .............................................................................................86

APPENDIX 3: NON-TECH TOTAL WORK ECONOMIC IMPACTS ...................................... 88 CORE CITY: CLEVELAND – CLEVELAND ..........................................................................................................89

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Executive Summary JumpStart Inc. is a Cleveland-based venture development organization that helps entrepreneurs start and grow companies. JumpStart’s work takes three primary forms: •

Making Investments – JumpStart is an active venture capital investor and directly funds tech entrepreneurs with the capital they need to grow their startup businesses.

•

Delivering Services – JumpStart provides business assistance services to help high-potential businesses (both tech and non-tech focused) navigate challenges, drive growth and create jobs.

•

Acting as a Value-Added Intermediary – JumpStart works on behalf of private, public and philanthropic funders who want to assist entrepreneurs by making grants and convening partner networks on their behalf.

Silverlode Consulting was engaged by JumpStart Inc. to estimate the economic and fiscal impact of this work during calendar year 2018. IMPLAN, one of the most widely used and accepted methodologies for estimating regional economic impacts, was used to complete the analysis.

Data for the study was provided to Silverlode via surveys of companies who have been assisted by JumpStart and its Partners. These surveys were administered by JumpStart and its Partners. The companies surveyed provided the employment, payroll, revenue, and other operational data necessary to prepare this analysis.

This Executive Summary presents economic impacts from three perspectives as follows: •

Total Economic Impact (Jumpstart + Partners) – The economic impact of the combined efforts of JumpStart and its Partners (1A) and of JumpStart alone (1B).

•

JumpStart’s Three Primary Lines of Business – The economic impact of companies as delineated by type of JumpStart assistance received: Investing (2A), Services (2B), and Intermediary Work (2C).

•

Tech vs. Non-Tech Companies – The total economic impact of tech companies (3A) and of non-tech companies (3B) served by JumpStart and its Partners.

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Executive Summary │ JumpStart 2018 Economic Impact Report

Subset Economic Impact Models In addition to the overall economic impact of JumpStart and its Partners discussed above, this report also analyzes data through different subset economic impact models or “slices.”

Each slice analyzes the work of JumpStart and/or its Partners through a specific subset of geographic service area, program type, business sector (tech vs non-tech), gender/ethnicity, etc.

It is important to note that these subset slices are not additive. No single slice should be added to another slice to create a total, since some slices may use and/or exclude the same company data. Instead, each economic model should be viewed as a separate and distinct look at the work of JumpStart and/or its Partners. The full components of each of these models are further explained in the Areas of Analysis section of the full report.

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Executive Summary │ JumpStart 2018 Economic Impact Report

Total Economic Impact (JumpStart + Partners) The work JumpStart and its Partners did to help companies in 2018 directly and indirectly supported more than $1 billion of economic output, approximately $487 million of labor income, and more than 5,100 households in the States of Ohio and New York. The following table summarizes the estimated economic impact of surveyed companies assisted by JumpStart and its Partners in both Ohio and New York.

Total Economic Impact (JumpStart + Partners)

1A. JumpStart + Partners Total Work Economic Impact 8,119 jobs

$66 million in annual state and local taxes

$487 million of annual labor income

$104 million in annual federal taxes

5,119 households supported

$1.0 billion of annual economic output

At the highest level, this analysis shows the work of JumpStart and its Partners has had an immense economic and fiscal impact on the state of Ohio. Their footprint in New York, while just beginning, is also economically meaningful.

Adding the 2018 annual economic output figure of $1 billion to previous economic impact studies shows the work of JumpStart and its Partners’ has directly and indirectly supported more than $6.6 billion of total economic output since 2010 1.

1

JumpStart provided the economic impact numbers for 2010 through 2017.

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Executive Summary │ JumpStart 2018 Economic Impact Report

In addition to generating jobs and taxes for communities, technology companies supported by JumpStart and its Partners were awarded 1,943 patents and had 1,890 patents pending in 2018.

Total Economic Impact (JumpStart Only) The following table summarizes the estimated economic impact of companies funded and/or assisted directly by JumpStart, removing data from any companies assisted solely by partner organizations (who have themselves been funded or supported by JumpStart’s intermediary work).

The work JumpStart did to help Ohio companies directly and indirectly supported an estimated $850 million of economic output, approximately $407 million of labor income, and more than 4,100 households in Ohio in 2018.

1B. JumpStart Total Work Economic Impact 6,569 jobs

$52 million in annual state and local taxes

$407 million of annual labor income

$87 million in annual federal taxes

4,141 households supported

$850 million of annual economic output

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Executive Summary │ JumpStart 2018 Economic Impact Report

JumpStart’s Three Primary Lines of Business JumpStart communicates its work to the market using three categories—investing, services and intermediary work. These three economic models estimate economic impact using a similar approach.

Total Impact of JumpStart Investing The following table summarizes the estimated economic impact of tech companies that have been directly funded by one of JumpStart’s venture capital funds.

JumpStart’s active portfolio companies in 2018 directly and indirectly supported an estimated $443 million of economic output, approximately $217 million of labor income, and more than 2,000 households in Ohio.

2A. JumpStart Funded Companies Economic Impact 3,211 jobs

$22 million in annual state and local taxes

$217 million of annual labor income

$45 million in annual federal taxes

2,024 households supported

$443 million of annual economic output

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Executive Summary │ JumpStart 2018 Economic Impact Report

Total Impact of JumpStart Services The following table summarizes the estimated economic impact of companies (both tech and non-tech focused) that have received business assistance services directly from JumpStart.

Direct technical assistance provided by JumpStart resulted in an estimated $850 million of economic output, approximately $407 million of labor income, and more than 4,100 households in Ohio.

2B. JumpStart Total Work Economic Impact 6,569 jobs

$52 million in annual state and local taxes

$407 million of annual labor income

$87 million in annual federal taxes

4,141 households supported

$850 million of annual economic output

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Executive Summary │ JumpStart 2018 Economic Impact Report

Total Impact of JumpStart Intermediary Work The following table summarizes the estimated economic impact of companies (both tech and non-tech focused) that have received funding and/or business assistance from one of the partner organizations JumpStart works with through its intermediary work.

Technical assistance to tech companies provided by JumpStart’s Partners in 2018 directly and indirectly resulted in more than $757 million of economic output, approximately $344 million of labor income, and an estimated 3,500 households in the States of Ohio and New York.

2C. JumpStart Intermediary Partners Work Economic Impact 5,475 jobs

$49 million in annual state and local taxes

$344 million of annual labor income

$74 million in annual federal taxes

3,452 households supported

$757 million of annual economic output

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Executive Summary │ JumpStart 2018 Economic Impact Report

Tech vs Non-Tech Companies JumpStart and its various partners work with a combination of tech-based startups and non-tech companies. To help meet the specific requirements and expectations of various organizational funders, these models separate this tech and non-tech work into separate categories.

Total Impact of Tech-Focused Companies The following table summarizes the estimated economic impact of all tech-focused companies assisted by JumpStart and its Partners through the ESP program, Technical assistance to tech companies provided by JumpStart and its Partners in 2018 directly and indirectly resulted in more than $936 million of economic output, approximately $450 million of labor income, and more than 4,400 households in Ohio.

3A. Tech ESP Total Work Economic Impact 7,052 jobs

$49 million in annual state and local taxes

$450 million of annual labor income

$93 million in annual federal taxes

4,446 households supported

$936 million of annual economic output

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Executive Summary │ JumpStart 2018 Economic Impact Report

Total Impact of Non-Tech-Focused Companies The following table summarizes the estimated economic impact of all non tech-focused companies assisted by JumpStart and its Partners, Business assistance from JumpStart and its Partners to non-tech companies directly and indirectly resulted in approximately $127 million of economic output, more than $44 million of labor income, and an estimated 827 households in the States of Ohio and New York in 2018.

3B. Non-Tech Total Work Economic Impact 1,311 jobs

$7 million in annual state and local taxes

$44 million of annual labor income

$9 million in annual federal taxes

827 households supported

$127 million of annual economic output

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About JumpStart │ JumpStart 2018 Economic Impact Report

About JumpStart JumpStart Services and Funding JumpStart is a venture development organization that combines the principles of (private) venture capital and (non-profit) economic development to help entrepreneurs start and grow companies. JumpStart helps entrepreneurs by providing access to capital and business assistance and by serving as an intermediary for other entrepreneurial focused organizations. The Cleveland Foundation, KeyBank, and the Ohio Third Frontier provide tremendous support for JumpStart’s operations.

JumpStart provides business assistance to entrepreneurs and small businesses, access to capital for startups through equity investments, intermediary services including grantmaking and collaborations for third party funders, and strategic initiatives for community stakeholders.

JumpStart and Partners Programs Today, JumpStart Inc. works as an investor and a direct service provider to high-potential companies, while also supporting many partners across Ohio and New York in their work helping companies.

Technology companies are served directly by JumpStart and/or one of its 12 Partners 2 who are all part of The Northeast Ohio Startup Network, a closely connected network of support organizations, all of whom are funded in part by Ohio Third Frontier and organized under the Entrepreneurial Services Provider (ESP) Program to support the 21 counties in the Northeast Ohio region.

Non-Technology companies seeking assistance are served directly by JumpStart’s Core City: Cleveland program and/or through partners JumpStart supports through the KeyBank Business Boost & Build program. This program works in four regions across New York (Albany, Buffalo, Rochester, and Syracuse regions) and also includes The KeyBank Center for Technology, Innovation and Inclusive Growth, which works across Ohio (Dayton and ESP Network Partners include BioEnterprise, Inc., BioHio Research Park, Bounce Innovation Hub, Braintree Business Development

2

Center, FlashStarts Inc., Great Lakes Innovation and Development Enterprise (GLIDE), The Manufacturing Advocacy & Growth Network (MAGNET), Northeast Ohio Medical University (NEOMED), Ohio Aerospace Institute (OAI), Tech Belt Energy Innovation Center (TBEIC), University of Akron Research Foundation (UARF), and Youngstown Business Incubator (YBI).

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About JumpStart │ JumpStart 2018 Economic Impact Report

Cincinnati regions are included in this report).

JumpStart Evolution JumpStart was founded in 2004 with a mission to accelerate the growth of startups via funding and technical assistance. Today JumpStart is focused on the economic transformation of communities. This evolution in mission intersects with numerous aspects of the organization’s work, including: •

Work with Non-Tech Companies – JumpStart has transitioned from focusing solely on helping tech businesses to helping all businesses. Section four of this report is dedicated to quantifying the impact of this work with non-tech companies.

•

Intermediary Work – JumpStart works as both a sole practitioner and an ecosystem partner, serving as an intermediary for third-party funders to deploy grants, manage collaborations, and help administer economic development and workforce initiatives.

JumpStart deployed a total of approximately $7 million in grant funding to 45 organizations on behalf of its partners and funders in 2018 alone. Today, the organization manages the Northeast Ohio Startup Network (tech-focused) on behalf of the State of Ohio and also supports many additional partners working with nontech companies through the KeyBank Business Boost & Build program.

•

Place Based Assistance – JumpStart has always worked across Northeast Ohio and invests across the state from specific venture capital funds. The organization opened an office in Toledo in 2019 to serve entrepreneurs in Northwest Ohio. JumpStart has also concentrated specific programs on targeted local communities including the City of Cleveland, communities in upstate New York, and disconnected neighborhoods in communities across Ohio including Dayton, Cincinnati and Akron.

•

Diversity and Inclusion – JumpStart has an intentional focus on diversity and inclusion in all of its work, from the composition of its own staff and board to the companies it funds and supports. In 2018, JumpStart engaged 925 companies, 51% of which were led by women and 44% of which were led by people of color.

JumpStart and its Partners collectively engaged more than 1,531 companies, 54% of which were led by women and people of color.

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About this Report │ JumpStart 2018 Economic Impact Report

About this Report What is an Economic Impact Report?

Economic impact analysis provides a comprehensive look at how an organization, industry, or event affects the economy of a region. All economic activities create “ripples” in the economy that are referred to as indirect and induced effects. These ripple effects are quantified by using an analysis known as Regional Input-Output Analysis.

Economic and fiscal impacts can be divided into component parts, which are referred to as Direct, Indirect, and Induced and can be described as follows: •

Direct – Activity attributable to companies supported by JumpStart and its Partners (employees, their associated payroll, etc.) as reported by the companies. In this report, direct jobs include both those employed and employed as contractors by the companies served by JumpStart and its Partners.

•

Indirect – The economic activity of the entities that provide goods and services to the companies supported by JumpStart and its Partners, such as suppliers and service providers.

•

Induced – Activity arising from employee (both Direct and Indirect) spending.

Imagine an entrepreneur owns a fitness studio. She joins JumpStart’s Core City: Cleveland Impact program and works with JumpStart mentors to develop her business plan and rebrand her business. The fitness studio subsequently experiences a 50% increase in sales and hires new employees. Those are direct impacts. If the fitness studio purchases new exercise bikes, the jobs and revenue associated with the purchased bikes are indirect impacts of the company supported by JumpStart’s services. When the employees of both the fitness studio and the bike manufacturer use their paychecks to buy groceries, this household spending is part of the induced impacts from the JumpStart-serviced company.

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About this Report │ JumpStart 2018 Economic Impact Report

Why Does JumpStart Commission an Economic Impact Report?

The purpose of the JumpStart economic impact report is to quantify the impact of the services and funding provided by JumpStart and its Partners and to communicate this impact to investors, Partners, companies, government representatives, JumpStart employees, and the general public. In essence, this report answers the question: How does JumpStart help transform communities?

Previous JumpStart economic impact studies captured the impact of JumpStart and its Partners’ within their original scope of investing and providing services solely for tech entrepreneurs. This 2018 impact study includes the organization’s recent and notable expansions in programming, geographic reach, and partnerships—largely in support of expanding to service more non-tech companies.

Data and Analysis Silverlode Consulting was engaged by JumpStart to estimate the economic and fiscal impact of the companies served by JumpStart and its Partners during calendar year 2018.

Survey Data JumpStart administered surveys to all companies who received services and funding from JumpStart and its Partners as part of the Northeast Ohio Entrepreneurial Services Provider (ESP) Program or the Non-Tech Programs including JumpStart’s Core City: Cleveland program. Grantees under the KeyBank Business Boost & Build: NY and The KeyBank Center for Technology, Innovation and Inclusive Growth collected data from clients served by those programs and reported the data to JumpStart.

All of the following criteria (as reported by the companies) were required for a company to be modelled for this report: 1. A valid NAICS code provided (The North American Industry Classification System is the standard used by Federal statistical agencies to classify companies according to type of economic activity).

2. At least one job reported for 2018.

3. At least one of the following inputs provided: payroll or sales.

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About this Report │ JumpStart 2018 Economic Impact Report

Of the 1,354 companies which responded to the surveys, 540 provided sufficient information to be included in the economic impact models. This is expected, as almost all of the companies without modellable data are very young and do not yet have direct jobs, payroll, and/or sales to report. JumpStart will continue to service and survey these companies to measure their growth over time. These companies will be included in future economic impact analyses and they should eventually be included in future economic models as they grow and create direct jobs, payroll, and revenues.

Additional Data To gather additional data and help shape this report, Silverlode conducted interviews with many of the leaders of JumpStart, as identified in the Leadership Participation section of this report. JumpStart also provided numerous reports, presentations, and collateral that informed this report.

IMPLAN IMPLAN, one of the most well-respected and widely-used methodologies for assessing regional economic impacts, was used to estimate the annual impact of the operating activities for companies served by JumpStart and its Partners. 2017 IMPLAN data, the most current data available at the time, was used for this study.

Economic and fiscal impacts can be divided into component parts, which are referred to as Direct, Indirect, and Induced and can be described as follows: •

Direct – Activity attributable to companies supported by JumpStart and its Partners (employees, their associated payroll, etc.) as reported by the companies. In this report, direct jobs include both those employed and contracted by the companies served by JumpStart and its Partners.

•

Indirect – The economic activity of the entities that provide goods and services to the companies supported by JumpStart and its Partners, such as suppliers and service providers.

•

Induced – Activity arising from employee (both Direct and Indirect) spending.

For streamlined presentation in this report, Indirect and Induced effects are combined and referred to simply as Indirect.

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About this Report │ JumpStart 2018 Economic Impact Report

Data Quality JumpStart administered surveys to all companies who received services and funding from JumpStart and its Partners as part of the Northeast Ohio Entrepreneurial Services Provider (ESP) Program or the Non-Tech Programs including JumpStart’s Core City: Cleveland program. Data is the result of surveys administered electronically to program participants

by JumpStart using Qualtrics.

Grantees under the KeyBank Business Boost & Build: NY and The KeyBank Center for Technology, Innovation and Inclusive Growth collected data from clients served by those programs and reported the data to JumpStart. As a result, the survey data that was available varied significantly by program. For example, in the instance of the KeyBank Business Boost & Build: New York and The KeyBank Center for Technology, Innovation and Inclusive Growth programs, very little information about the payroll of the participating companies was available. As these programs mature, it is anticipated that the data will improve.

In instances where a company included enough information to be included in IMPLAN modelling, but provided incomplete data (e.g. job count, payroll, or revenue was missing), industry average information from the IMPLAN model was used to estimate the missing information. In the absence of actual revenue reported by a company, IMPLAN will default to the state industry average. Because many of the companies served by JumpStart and its partners are in the very early stages of their development, the economic impact data provided in this report should be understood to be estimates based on the best available information and industry-average data.

Additional information about the data sources, methodology, and definitions of terms used in this study can be found in the Methodology section near the end of the report.

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About this Report │ JumpStart 2018 Economic Impact Report

Areas of Analysis This report includes analysis of the impact of companies served by JumpStart and its collaborative Partners as represented by 64 different “slices”. Each slice represents an independent economic impact model.

This report includes the following areas of analysis: 1. JumpStart + Partners Total Work – The impact of all JumpStart and Partner programs on the States of Ohio and New York. a. This impact is also modelled for the following sub-geographies: Ohio, Northeast Ohio3, Cuyahoga County, the City of Cleveland 4, and the State of New York. b. This impact is also modelled for Minority Owned/Led 5 and Women Owned/Led for each of the above geographies.

2. JumpStart Total Work – The impact of all JumpStart programs on the State of Ohio (this excludes data from any companies assisted solely by JumpStart partner organizations) a. This impact is also modelled for Minority Owned/Led and Women Owned/Led companies.

3. Tech ESP Total Work – The impact of all JumpStart and Northeast Ohio Startup Network partner programs on the State of Ohio. a. This impact is also modelled for the following sub-geographies: Ohio, Northeast Ohio, Cuyahoga County, and the City of Cleveland. b. This impact is also modelled for the following programs in the State of Ohio and Northeast Ohio: i. JumpStart Serviced Companies ii. JumpStart Funded Companies 3

Northeast Ohio consists of the following 21 counties: Ashland, Ashtabula, Carroll, Columbiana, Crawford,

Cuyahoga, Erie, Geauga, Holmes, Huron, Lake, Lorain, Mahoning, Medina, Portage, Richland, Stark, Summit, Trumbull, Tuscarawas, and Wayne counties.

4

The City of Cleveland consists of the following zip codes: 44101, 44102, 44103, 44104, 44105, 44106,

44108, 44109, 44110, 44111, 44113, 44114, 44115, 44119, 44120, 44127, 44128, and 44135.

5

Minority Owned/Led is defined as black or Latinx owned and/or led companies for all models in this report.

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About this Report │ JumpStart 2018 Economic Impact Report

iii. Network Serviced Companies iv. Network Funded Companies v. Exited ESP Companies c. This impact is also modelled for Minority Owned/Led and Women Owned/Led companies for all programs except for the Exited ESP Companies, which are modelled only in aggregate.

4. Non-Tech Total Work – The impact of all JumpStart and Partner Non-Tech programs on the States of Ohio and New York. a. This impact is also modelled for the following programs in the specified subgeographies: i. Core City: Cleveland (Cuyahoga County and the City of Cleveland) ii. KeyBank Business Boost & Build: New York (the State of New York) iii. The KeyBank Center for Technology, Innovation and Inclusive Growth (the State of Ohio) b. This impact is also modelled for Minority Owned/Led and Women Owned/Led companies for all programs and geographies. c. The impact of Core City: Cleveland is also modelled for Impact Program Participants in Cuyahoga County and the City of Cleveland.

5. JumpStart Intermediary Partners Total Work – The impact of all JumpStart Partner programs/services on the States of Ohio and New York. a. JumpStart Partner programs/services are defined as any funding and/or business assistance provided to companies by one of the many partner organizations JumpStart works with through its intermediary work.

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About this Report │ JumpStart 2018 Economic Impact Report

Report Models The models included in this report are indicated by program and geography in the table below. A grey box indicates an additional model located in the appendix of this report. All program models include a Women Owned/Led model and a Minority Owned/Led model except for Exited ESP Companies.

Ohio & 1. JumpStart + Partners Total Work

Northeast Cuyahoga

New York

Ohio

Ohio

County

√

√

√

√

√

√

√

√

√

2. JumpStart Total Work

√

3. Tech ESP Total Work

√

√

JumpStart Serviced Companies

√

√

JumpStart Funded Companies

√

√

Network Serviced Companies

√

Network Funded Companies

√

√

Exited ESP Companies

√

√

4. Non-Tech Total Work

Cleveland New York

√

Core City: Cleveland

√

KeyBank Business Boost & Build: NY

√

KeyBank Center for Technology, Innovation and Inclusive Growth 5. JumpStart Intermediary Partners Total Work

√

√

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JumpStart + Partners Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

1. JumpStart + Partners Total Work Economic Impacts The impact of all JumpStart and Partner programs across Ohio and New York is summarized in this section. JumpStart and Partner programs include all Tech ESP and Non-Tech programs. Additional details on Tech ESP and Non-Tech programs are included in sections 3. Tech ESP Total Work and 4. Non-Tech Total Work of this report.

The impact of five additional sub-geographies (Ohio, Northeast Ohio, Cuyahoga County, the City of Cleveland, and the State of New York) have been estimated to respond to requests from funders and key community stakeholders. These are included in Appendix 1:JumpStart + Partners Total Work Economic Impacts. The impact is also modelled for Minority Owned/Led and Women Owned/Led for each of the geographies.

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JumpStart + Partners Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

JumpStart + Partners Total Work – Ohio and New York 6 In 2018, companies supported by JumpStart and its Partners’ services and funding directly and indirectly generated an estimated $1.0 billion of economic output in the States of Ohio and New

JumpStart + Partners Total Work in Ohio and New York

York. This output includes an estimated $530 million of economic output generated by Women Owned/Led companies and $160 million of output generated by Minority Owned/Led companies.

8,119 jobs

These JumpStart + Partners Total Work companies supported an estimated 8,119 direct and indirect jobs in Ohio and New 7

$487 million of annual labor income

York, 4,738 of which were connected with the economic activity of Women Owned/Led companies and 1,675 with the economic activity of Minority Owned/Led companies.

5,119 households supported

The jobs supported by JumpStart and its Partners’

programs

and

funding

had

approximately $487 million of associated annual

$66 million in annual state and local taxes

labor income, including benefits, and sustained an estimated 5,119 households in Ohio and New York. Companies that received services and funding from JumpStart and its Partners generated an estimated $66 million of state and local taxes in Ohio and New York and $104 million of federal taxes during 2018.

6

$104 million in annual federal taxes

$1.0 billion of annual economic output

1,354 companies supported by JumpStart + Partners work in Ohio and New York responded to a survey

in 2018. 540 of these companies (40%) submitted adequate survey information for modelling.

7

Direct and indirect impacts are only calculable for modellable companies.

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JumpStart + Partners Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

JumpStart + Partners Total Work, Ohio and New York Level Impact Details Direct

Indirect & Induced

Total

Total Jobs

5,147

Earnings Households Supported State & Local Taxes

$

2,972

8,119

$

295,094,000 $ 3,245 32,944,000 $

192,388,000 $ 1,874 32,992,000 $

487,482,000 5,119 65,936,000

Federal Taxes

$

61,340,000 $

42,673,000 $

104,013,000

Output

$

519,736,000 $

511,001,000 $

1,030,737,000

Women Owned/Led Jobs

3,133

Earnings Households Supported State & Local Taxes

$

Federal Taxes Output

1,605

4,738

$

170,363,000 $ 1,975 17,324,000 $

102,600,000 $ 1,012 17,624,000 $

272,963,000 2,987 34,948,000

$

35,059,000 $

22,783,000 $

57,842,000

$

258,056,000 $

271,973,000 $

530,029,000

$

41,156,000 $

State & Local Taxes Federal Taxes

$ $

4,157,000 $ 8,266,000 $

4,852,000 $ 6,482,000 $

9,009,000 14,748,000

Output

$

82,957,000 $

76,952,000 $

159,909,000

Minority Owned/Led Jobs Earnings

1,223

Households Supported

771

452 29,469,000 $ 285

1,675 70,625,000 1,056

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JumpStart + Partners Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

The following maps depict the companies 8 served by JumpStart and its Partners in Ohio and New York by zip code.

JumpStart + Partners Total Work, Ohio Companies Served

JumpStart + Partners Total Work, New York Companies Served

8

Companies represented in the maps include all companies served, not just modellable companies.

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JumpStart Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

2. JumpStart Total Work Economic Impacts The impact of all JumpStart programs in Ohio are summarized in this section. JumpStart programs include all Tech ESP and Non-Tech programs. Additional details on Tech ESP and Non-Tech programs are included in section 3. Tech ESP Total Work and 4. Non-Tech Total Work of this report. This impact is also modelled for Minority Owned/Led and Women Owned/Led companies.

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JumpStart Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

JumpStart Total Work – Ohio 9 In

2018,

companies

supported

by

JumpStart services and funding directly and indirectly generated an estimated $850 million of economic output in the State of Ohio. This output includes an estimated

JumpStart Total Work In Ohio

$428 million of economic output generated

by Women Owned/Led companies and $125 million of output generated by

6,569 jobs

Minority Owned/Led companies.

These JumpStart companies supported an estimated 6,569 direct and indirect jobs10 in Ohio, 3,853 of which were connected with the

economic

activity

of

Women

Owned/Led companies and 1,387 with the economic activity of Minority Owned/Led companies.

The

jobs

$407 million of annual labor income

supported

by

4,141 households supported

JumpStart programs and funding had approximately $407 million of associated annual labor income, including benefits, and

sustained

an

estimated

4,141

households in Ohio.

Companies that received services and funding from JumpStart generated an estimated $52 million of state and local taxes in Ohio and New York and $87 million of federal taxes during 2018.

9

$52 million in annual state and local taxes

$87 million in annual federal taxes $850 million of annual economic output

671 companies supported by JumpStart work in Ohio responded to a survey in 2018. 386 of these

companies (58%) submitted adequate survey information for modelling.

10

Direct and indirect impacts are only calculable for modellable companies.

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JumpStart Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

JumpStart Total Work, Ohio Level Impact Details Indirect & Induced

Direct

Total

Total Jobs Earnings Households Supported State & Local Taxes

4,092 $ $

246,230,000 $ 2,580 24,566,000 $

2,477 160,870,000 $ 1,562 27,528,000 $

6,569 407,100,000 4,141 52,094,000

Federal Taxes

$

51,034,000 $

35,677,000 $

86,711,000

Output

$

422,109,000 $

427,426,000 $

849,535,000

Earnings Households Supported State & Local Taxes

$ $

137,719,000 $ 1,610 11,225,000 $

83,416,000 $ 819 14,286,000 $

221,135,000 2,429 25,511,000

Federal Taxes

$

28,118,000 $

18,515,000 $

46,633,000

Output

$

206,580,000 $

221,068,000 $

427,648,000

Women Owned/Led Jobs

2,554

1,299

3,853

Minority Owned/Led Jobs Earnings

1,001 $

Households Supported

37,733,000 $ 631

386 24,958,000 $ 243

1,387 62,691,000 874

State & Local Taxes Federal Taxes

$ $

3,096,000 $ 7,524,000 $

4,079,000 $ 5,488,000 $

7,175,000 13,012,000

Output

$

60,004,000 $

64,710,000 $

124,714,000

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JumpStart Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

The following map depicts the companies 11 served by JumpStart in Ohio by zip code.

JumpStart Total Work, Ohio Companies Served

11

Companies represented in the map include all companies served, not just modellable companies.

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Tech ESP Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

3. Tech ESP Total Work Economic Impacts Technology companies are served by JumpStart and 12 Partners 12 who are all part of The Northeast Ohio Startup Network, a closely connected network of support organizations, all of whom are funded in part by Ohio Third Frontier and organized under the Entrepreneurial Services Provider (ESP) Program to support the 21 counties in the Northeast Ohio region.

This section analyzes the economic impact of Ohio tech companies which JumpStart and its Partners supported through funding and/or services in 2018. Tech ESP Total Work is comprised of the following five segments (companies may fall into more than one segment): •

JumpStart Serviced Companies received business advisory services directly from JumpStart staff in 2018 or earlier.

•

JumpStart Funded Companies received direct investment from one or more of the following JumpStart equity investment funds: Evergreen, Focus, and NEXT.

•

Network Serviced Companies received services from one or more of JumpStart’s Network Partners’ staff in 2018 or earlier.

•

Network Funded Companies received funding from one or more of JumpStart’s Network Partners.

•

Exited ESP Companies were serviced or funded by the ESP Network and/or JumpStart and were acquired or had an IPO in 2018.

The impacts of the JumpStart Serviced Companies, JumpStart Funded Companies, Network Serviced Companies, Network Funded Companies, and Exited ESP Companies are also estimated individually in this section for Ohio. Additional models for Northeast Ohio of all of these segments except Network Serviced Companies are included in the appendix. Tech ESP Total Work is also modelled for Northeast Ohio, Cuyahoga County, and the City of Cleveland in the Appendix. The impacts are also modelled for Minority Owned/Led and Women Owned/Led companies.

12

ESP Network Partners include BioEnterprise, Inc., BioHio Research Park, Bounce Innovation Hub,

Braintree Business Development Center, FlashStarts Inc., Great Lakes Innovation and Development Enterprise (GLIDE), The Manufacturing Advocacy & Growth Network (MAGNET), Northeast Ohio Medical University (NEOMED), Ohio Aerospace Institute (OAI), Tech Belt Energy Innovation Center (TBEIC), University of Akron Research Foundation (UARF), and Youngstown Business Incubator (YBI).

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Tech ESP Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

Tech ESP Total Work – Ohio 13 In 2018, companies supported by JumpStart and its Partners’ Tech ESP services and funding directly and indirectly generated an estimated $936 million of economic output in

Tech ESP Total Work In Ohio

the State of Ohio. This output includes an estimated $444 million of economic output generated by Women Owned/Led companies and $129 million of output generated by Minority Owned/Led companies.

7,052 jobs

These ESP Tech companies supported an estimated 7,052 direct and indirect jobs 14 in Ohio, 3,885 of which were connected with the

$450 million of annual labor income

economic activity of Women Owned/Led companies and 1,154 with the economic activity of Minority Owned/Led companies.

The jobs supported by the ESP programs and

4,446 households supported

funding had approximately $450 million of associated annual labor income, including benefits, and sustained an estimated 4,446

$49 million in annual state and local taxes

households in Ohio.

Companies that received Tech ESP services and funding from JumpStart and its Partners generated an estimated $49 million of state and local taxes in Ohio and $93 million of federal taxes during 2018.

13

$93 million in annual federal taxes $936 million of annual economic output

535 companies supported by JumpStart + Partners Tech ESP work in Ohio responded to a survey in 2018.

316 of these companies (59%) submitted adequate survey information for modelling.

14

Direct and indirect impacts are only calculable for modellable companies.

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Tech ESP Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

Tech ESP Total Work, Ohio Level Impact Details Indirect & Induced

Direct

Total

Total Jobs Earnings Households Supported State & Local Taxes

3,741 $ $

285,393,000 $ 2,358 24,290,000 $

3,311 164,467,000 $ 2,087 25,121,000 $

7,052 449,860,000 4,446 49,411,000

Federal Taxes

$

57,016,000 $

35,674,000 $

92,690,000

Output

$

447,294,000 $

488,832,000 $

936,126,000

Earnings Households Supported State & Local Taxes

$ $

159,831,000 $ 1,393 12,159,000 $

82,205,000 $ 1,056 12,671,000 $

242,036,000 2,449 24,830,000

Federal Taxes

$

31,678,000 $

17,879,000 $

49,557,000

Output

$

199,050,000 $

245,210,000 $

444,260,000

Women Owned/Led Jobs

2,210

1,675

3,885

Minority Owned/Led Jobs Earnings

675 $

Households Supported

38,326,000 $ 426

479 23,864,000 $ 302

1,154 62,190,000 728

State & Local Taxes Federal Taxes

$ $

2,590,000 $ 7,436,000 $

3,519,000 $ 5,135,000 $

6,109,000 12,571,000

Output

$

59,079,000 $

69,792,000 $

128,871,000

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Tech ESP Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

The following map depicts Tech ESP companies 15 served by JumpStart and its Partners in Ohio by zip code.

TECH ESP Total Work, Ohio Companies Served

15

Companies represented in the map include all companies served, not just modellable companies.

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Tech ESP Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

JumpStart Serviced Companies – Ohio 16 In 2018, companies supported by JumpStart services directly and indirectly generated an estimated $778 million of economic output in Ohio. This output includes an estimated $362

JumpStart Serviced Companies in Ohio

million of economic output generated by Women Owned/Led companies and $104 million of output generated by Minority Owned/Led companies.

These

JumpStart

Serviced

Companies

5,942 jobs

supported an estimated 5,942 direct and indirect jobs 17 in the State of Ohio, 3,330 of which were connected with the economic

$376 million of annual labor income

activity of Women Owned/Led companies and 1,046 with the economic activity of Minority Owned/Led companies. The jobs supported

by

the

JumpStart

Serviced

3,746 households supported

Companies had approximately $376 million of associated annual labor income, including benefits, and sustained an estimated 3,746

$40 million in annual state and local taxes

households in the State of Ohio.

Companies that received JumpStart services generated an estimated $40 million of state and local taxes in Ohio and $77 million of federal taxes during 2018.

16

$77 million in annual federal taxes $778 million of annual economic output

401 companies supported by JumpStart services in Ohio responded to a survey in 2018. 254 of these

companies (63%) submitted adequate survey information for modelling.

17

Direct and indirect impacts are only calculable for modellable companies.

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Tech ESP Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

JumpStart Serviced Companies, Ohio Level Impact Details Indirect & Induced

Direct

Total

Total Jobs Earnings Households Supported State & Local Taxes

3,175 $ $

238,615,000 $ 2,002 18,603,000 $

2,767 137,568,000 $ 1,744 20,984,000 $

5,942 376,183,000 3,746 39,587,000

Federal Taxes

$

47,587,000 $

29,839,000 $

77,426,000

Output

$

368,356,000 $

409,431,000 $

777,787,000

Earnings Households Supported State & Local Taxes

$ $

136,361,000 $ 1,226 8,333,000 $

67,952,000 $ 874 10,531,000 $

204,313,000 2,099 18,864,000

Federal Taxes

$

26,781,000 $

14,799,000 $

41,580,000

Output

$

158,343,000 $

203,516,000 $

361,859,000

Women Owned/Led Jobs

1,944

1,386

3,330

Minority Owned/Led Jobs Earnings

617 $

Households Supported

35,457,000 $ 389

429 21,036,000 $ 270

1,046 56,493,000 659

State & Local Taxes Federal Taxes

$ $

1,948,000 $ 6,836,000 $

3,067,000 $ 4,523,000 $

5,015,000 11,359,000

Output

$

43,171,000 $

61,104,000 $

104,275,000

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Tech ESP Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

JumpStart Funded Companies – Ohio 18 In 2018, companies supported by JumpStart funding directly and indirectly generated an estimated $443 million of economic output in Ohio. This output includes an estimated $251 million of economic output generated by

JumpStart Funded Companies In Ohio

Women Owned/Led companies and $69 of output generated by Minority Owned/Led companies.

These

JumpStart

Funded

Companies

3,211 jobs

supported an estimated 3,211 direct and indirect jobs 19 in Ohio, 2,167 of which were connected with the economic activity of

$217 million of annual labor income

Women Owned/Led companies and 687 with the economic activity of Minority Owned/Led companies. The jobs supported by the JumpStart

Funded

Companies

had

2,024 households supported

approximately $217 million of associated annual labor income, including benefits, and sustained an estimated 2,024 households in

$22 million in annual state and local taxes

Ohio.

Companies that received JumpStart funding generated an estimated $22 million of state

$45 million in annual federal taxes

and local taxes in Ohio and $45 million of federal taxes during 2018.

$443 million of annual economic output

65 companies supported by JumpStart funding in Ohio responded to a survey in 2018. 60 of these companies (92%) submitted adequate survey information for modelling.

18

19

Direct and indirect impacts are only calculable for modellable companies.

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Tech ESP Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

JumpStart Funded Companies, Ohio Level Impact Details Indirect & Induced

Direct

Total

Total Jobs Earnings Households Supported State & Local Taxes

1,602 $ $

136,629,000 $ 1,010 9,604,000 $

1,609 80,221,000 $ 1,014 12,176,000 $

3,211 216,850,000 2,024 21,780,000

Federal Taxes

$

27,300,000 $

17,415,000 $

44,715,000

Output

$

203,331,000 $

239,315,000 $

442,646,000

Earnings Households Supported State & Local Taxes

$ $

92,465,000 $ 758 5,949,000 $

47,320,000 $ 608 7,269,000 $

139,785,000 1,366 13,218,000

Federal Taxes

$

18,483,000 $

10,310,000 $

28,793,000

Output

$

109,173,000 $

141,962,000 $

251,135,000

Women Owned/Led Jobs

1,203

964

2,167

Minority Owned/Led Jobs Earnings

396 $

Households Supported

24,002,000 $ 250

291 14,362,000 $ 183

687 38,364,000 433

State & Local Taxes Federal Taxes

$ $

1,250,000 $ 4,612,000 $

2,080,000 $ 3,082,000 $

3,330,000 7,694,000

Output

$

27,274,000 $

41,836,000 $

69,110,000

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Tech ESP Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

Network Serviced Companies – Ohio 20 In 2018, companies supported by ESP Network services

directly

and

indirectly

generated an estimated $733 million of economic output in Ohio. This output includes

Network Serviced Companies in Ohio

an estimated $311 million of economic output generated by Women Owned/Led companies and $92 million of output generated by Minority Owned/Led companies.

These

Network

Serviced

Companies

5,015 jobs

supported an estimated 5,015 direct and indirect jobs 21 in the State of Ohio, 2,512 of which were connected with the economic

$336 million of annual labor income

activity of Women Owned/Led companies and 489 with the economic activity of Minority Owned/Led companies. The jobs supported by the Network Serviced Companies had

3,162 households supported

approximately $336 million of associated annual labor income, including benefits, and sustained an estimated 3,162 households in

$47 million in annual state and local taxes

the State of Ohio.

Companies

that

received

ESP

Network

services generated an estimated $47 million of state and local taxes in Ohio and $72 million of federal taxes during 2018.

$72 million in annual federal taxes $733 million of annual economic output

480 companies supported by ESP Network Services in Ohio responded to a survey in 2018. 274 of these companies (57%) submitted adequate survey information for modelling.

20

21

Direct and indirect impacts are only calculable for modellable companies.

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Tech ESP Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

Network Serviced Companies, Ohio Level Impact Details Indirect & Induced

Direct

Total

Total Jobs Earnings Households Supported State & Local Taxes

2,949 $ $

201,260,000 $ 1,859 23,822,000 $

2,066 134,931,000 $ 1,302 23,261,000 $

5,015 336,191,000 3,162 47,083,000

Federal Taxes

$

41,962,000 $

29,901,000 $

71,863,000

Output

$

374,414,000 $

358,611,000 $

733,025,000

Earnings Households Supported State & Local Taxes

$ $

109,573,000 $ 977 10,681,000 $

61,181,000 $ 607 10,741,000 $

170,754,000 1,584 21,422,000

Federal Taxes

$

22,261,000 $

13,587,000 $

35,848,000

Output

$

148,297,000 $

162,317,000 $

310,614,000

Women Owned/Led Jobs

1,549

963

2,512

Minority Owned/Led Jobs Earnings

252 $

Households Supported

15,850,000 $ 159

237 16,340,000 $ 149

489 32,190,000 308

State & Local Taxes Federal Taxes

$ $

1,930,000 $ 3,303,000 $

2,571,000 $ 3,557,000 $

4,501,000 6,860,000

Output

$

49,953,000 $

41,882,000 $

91,835,000

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Tech ESP Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

Network Funded Companies – Ohio 22 In 2018, companies funded by ESP Network directly and indirectly generated an estimated $586 million of economic output in Ohio. This output includes an estimated $259 million of economic

output

Network Funded Companies in Ohio

generated by Women

Owned/Led companies and $75 million of output generated by Minority Owned/Led companies.

3,863 jobs

These Network Funded Companies supported an estimated 3,863 direct and indirect jobs 23 in the State of Ohio, 2,055 of which were connected with the economic activity of

$262 million of annual labor income

Women Owned/Led companies and 467 with the economic activity of Minority Owned/Led companies. The jobs supported by the Network

Funded

Companies

2,435 households supported

had

approximately $262 million of associated annual labor income, including benefits, and sustained an estimated 2,435 households in

$30 million in annual state and local taxes

the State of Ohio.

Companies

that

received

ESP

Network

funding generated an estimated $30 million of state and local taxes in Ohio and $55 million of federal taxes during 2018.

$55 million in annual federal taxes $586 million of annual economic output

165 companies supported by ESP Network Funding in Ohio responded to a survey in 2018. 130 of these companies (79%) submitted adequate survey information for modelling.

22

23

Direct and indirect impacts are only calculable for modellable companies.

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Tech ESP Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

Network Funded Companies, Ohio Level Impact Details Indirect & Induced

Direct

Total

Total Jobs Earnings Households Supported State & Local Taxes

1,875 $ $

161,694,000 $ 1,182 14,594,000 $

1,988 99,994,000 $ 1,253 15,134,000 $

3,863 261,688,000 2,435 29,728,000

Federal Taxes

$

33,088,000 $

21,671,000 $

54,759,000

Output

$

288,057,000 $

297,691,000 $

585,748,000

Earnings Households Supported State & Local Taxes

$ $

90,369,000 $ 691 6,293,000 $

47,206,000 $ 605 7,247,000 $

137,575,000 1,296 13,540,000

Federal Taxes

$

18,238,000 $

10,287,000 $

28,525,000

Output

$

117,348,000 $

141,801,000 $

259,149,000

Women Owned/Led Jobs

1,096

959

2,055

Minority Owned/Led Jobs Earnings

191 $

Households Supported

18,679,000 $ 120

276 14,012,000 $ 174

467 32,691,000 294

State & Local Taxes Federal Taxes

$ $

1,221,000 $ 3,681,000 $

1,975,000 $ 2,992,000 $

3,196,000 6,673,000

Output

$

34,219,000 $

40,487,000 $

74,706,000

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Tech ESP Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

Exited ESP Companies – Ohio 24 Exited companies are companies that were serviced or funded by the ESP Network and/or JumpStart and that were acquired or had an IPO in 2018. In 2018, Exited ESP Companies directly and indirectly generated an estimated

Exited ESP Companies In Ohio

$71 million of economic output in Ohio.

These Exited ESP Companies supported an estimated 403 direct and indirect jobs 25 in Ohio. The jobs supported by the exited

403 jobs

companies had approximately $26 million of associated annual labor income, including benefits, and sustained an estimated 254

$26 million of annual labor income

households in Ohio.

ESP companies that exited generated an estimated $3 million of state and local taxes

254 households supported

in Ohio and $6 million of federal taxes during 2018.

$3 million in annual state and local taxes

$6 million in annual federal taxes

$71 million of annual economic output

4 Exited companies in Ohio responded to a survey in 2018. 4 of these companies (100%) submitted adequate survey information for modelling.

24

25

Direct and indirect impacts are only calculable for modellable companies.

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Tech ESP Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

Exited ESP Companies, Ohio Level Impact Details Direct

Indirect & Induced

Total

Total Jobs Earnings Households Supported State & Local Taxes

194 $ $

15,061,000 $ 122 1,640,000 $

209 10,767,000 $ 132 1,524,000 $

403 25,828,000 254 3,164,000

Federal Taxes

$

3,410,000 $

2,360,000 $

5,770,000

Output

$

36,848,000 $

33,758,000 $

70,606,000

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Non-Tech Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

4. Non-Tech Total Work Economic Impacts This section analyzes the economic impact of non-tech companies in Ohio and New York which JumpStart supported through funding and/or services in 2018. Non-Tech Total Work is comprised of the following three programs in the specified sub-geographies: •

Core City: Cleveland (Cuyahoga County)

•

KeyBank Business Boost & Build: New York (the State of New York)

•

The KeyBank Center for Technology, Innovation and Inclusive Growth (the State of Ohio)

This impact is also modelled for Minority Owned/Led and Women Owned/Led companies for all programs and geographies and the impact of Core City: Cleveland is modelled for the Impact Program. The impact of Core City: Cleveland in the City of Cleveland is modeled in the Appendix.

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Non-Tech Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

Non-Tech Total Work – Ohio and New York 26 In 2018, companies supported by JumpStart’s and its Partners Non-Tech work directly and indirectly generated an estimated $127 million of economic output in the States of

Non-Tech Total Work in Ohio and New York

Ohio and New York. This output includes an estimated $105 million of economic output generated by Women Owned/Led companies and $36 million of output generated by Minority Owned/Led companies.

1,311 jobs

These Non-Tech companies supported an estimated 1,311 direct and indirect jobs 27 in Ohio and New York, 963 of which were

$44 million of annual labor income

connected with the economic activity of Women Owned/Led companies and 642 with the economic activity of Minority Owned/Led companies.

JumpStart’s

The and

jobs its

supported

Partners

by

827 households supported

Non-Tech

programs and funding had approximately $44 million of associated annual labor

$7 million in annual state and local taxes

income, including benefits, and sustained an estimated 827 households in Ohio and New York.

Companies that received Non-Tech services and funding from JumpStart and its Partners generated an estimated $7 million of state and local taxes in Ohio and New York and $9

$9 million in annual federal taxes $127 million of annual economic output

million of federal taxes during 2018.

26

787 companies supported by JumpStart and its Partners Non-Tech work in Ohio and New York responded

to a survey in 2018. 212 of these companies (27%) submitted adequate survey information for modelling.

27

Direct and indirect impacts are only calculable for modellable companies.

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Non-Tech Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

Non-Tech Total Work, Ohio and New York Level Impact Details Indirect & Induced

Direct

Total

Total 960

Jobs

351

1,311

$

21,034,000 $ 605 3,051,000 $

23,251,000 $ 221 3,709,000 $

44,285,000 827 6,760,000

Federal Taxes

$

4,297,000 $

5,076,000 $

9,373,000

Output

$

67,241,000 $

59,635,000 $

126,876,000

Earnings Households Supported State & Local Taxes

$

Women Owned/Led Jobs

677

Earnings Households Supported State & Local Taxes

$

Federal Taxes Output

286

963

$

14,365,000 $ 427 2,456,000 $

19,217,000 $ 180 3,002,000 $

33,582,000 607 5,458,000

$

2,988,000 $

4,179,000 $

7,167,000

$

56,772,000 $

48,716,000 $

105,488,000

$

9,827,000 $

State & Local Taxes Federal Taxes

$ $

1,071,000 $ 1,889,000 $

1,097,000 $ 1,441,000 $

2,168,000 3,330,000

Output

$

18,303,000 $

17,256,000 $

35,559,000

Minority Owned/Led Jobs Earnings

538

Households Supported

339

104 6,502,000 $ 66

642 16,329,000 405

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Non-Tech Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

The following maps depict Non-Tech companies 28 served by JumpStart and its Partners in Ohio and New York by zip code.

Non-TECH Total Work, Ohio Companies Served

Non-TECH Total Work, New York Companies Served

28

Companies represented in the maps include all companies served, not just modellable companies.

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Non-Tech Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

Core City: Cleveland Programs Core City: Cleveland offers free, one-on-one business advising services to any entrepreneur or small business owner who lives in the City of Cleveland or owns a business making an impact on the City of Cleveland. The program is supported by KeyBank Foundation, the Cleveland Foundation, and the City of Cleveland. Core City: Cleveland offers five primary types of technical assistance to companies, the majority of which are non-tech companies, as described below: •

One on One Client Meetings – JumpStart offers direct business advisory services including establishment of development milestones and plans for accessing resources and capital.

•

Core City Impact program – JumpStart offers a 12-week intensive business assistance course two times per year for revenue generating businesses. The program focuses on helping entrepreneurs develop financial projections, collaborate with peer companies, and craft a capital pitch. The Impact program culminates in an Entrepreneur Showcase Event which serves as a pitch competition for cash prizes.

•

Events – JumpStart hosts numerous events for non-tech entrepreneurs including a variety of workshops on business strategies and tips and open mic pitch nights.

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Non-Tech Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

Core City: Cleveland – Cuyahoga County 29 In 2018, companies supported by Core City: Cleveland’s services and funding directly and indirectly generated an estimated $93 million of economic output in Cuyahoga County. This

Core City: Cleveland In Cuyahoga County

output includes an estimated $83 million of economic output generated by Women Owned/Led companies, $21 million of output generated

by

Minority

Owned/Led

companies, and $15 million generated by

835 jobs

Impact Program Participants.

These

Core

City:

Cleveland

companies

supported an estimated 835 direct and

$33 million of annual labor income

indirect jobs 30 in Cuyahoga County, 667 of which were connected with the economic activity of Women Owned/Led companies, 440 with the economic activity of Minority

526 households supported

Owned/Led companies, and 186 with the economic

activity

of

Impact

Program

Participants. The jobs supported by Core City:

$3 million in annual state and local taxes

Cleveland’s programs had approximately $33 million of associated annual labor income, including

benefits,

and

sustained

an

estimated 526 households in Cuyahoga County.

Cuyahoga County companies that received Core City: Cleveland services and funding

$6 million in annual federal taxes $93 million of annual economic output

from JumpStart generated an estimated $3 million of state and local taxes in Ohio and $6 million of federal taxes during 2018.

29

233 companies supported by Core City: Cleveland’s work in Cuyahoga County responded to a survey in

2018. 114 of these companies (49%) submitted adequate survey information for modelling.

30

Direct and indirect impacts are only calculable for modellable companies.

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Non-Tech Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

Core City: Cleveland, Cuyahoga County Level Impact Details Indirect & Induced

Direct

Total

Total Jobs Earnings Households Supported State & Local Taxes

558 $ $

16,778,000 $ 352 1,219,000 $

277 16,530,000 $ 175 1,813,000 $

835 33,308,000 526 3,032,000

Federal Taxes

$

3,047,000 $

3,233,000 $

6,280,000

Output

$

49,436,000 $

43,537,000 $

92,973,000

Women Owned/Led Jobs

425

Earnings Households Supported State & Local Taxes

$

Federal Taxes Output

242

667

$

11,324,000 $ 268 971,000 $

14,650,000 $ 153 1,545,000 $

25,974,000 421 2,516,000

$

2,109,000 $

2,852,000 $

4,961,000

$

44,905,000 $

38,281,000 $

83,186,000

Minority Owned/Led Jobs Earnings

373

67

$

7,128,000 $

State & Local Taxes Federal Taxes

$ $

548,000 $ 1,244,000 $

472,000 $ 729,000 $

1,020,000 1,973,000

Output

$

10,974,000 $

10,059,000 $

21,033,000

Households Supported

235

3,619,000 $

440

42

10,747,000 277

Impact Program Jobs Earnings

142

44

$

4,569,000 $

State & Local Taxes Federal Taxes

$ $

488,000 $ 844,000 $

319,000 $ 487,000 $

807,000 1,331,000

Output

$

8,171,000 $

6,819,000 $

14,990,000

Households Supported

90

2,403,000 $

186

28

6,972,000 117

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Non-Tech Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

KeyBank Business Boost & Build Program In 2017, KeyBank Foundation partnered with JumpStart to launch the KeyBank Business Boost & Build program in Ohio and New York. The program was funded by a four-year $24M grant—the largest single financial award the foundation has ever made and the largest single grant ever received by JumpStart. The program is designed to stimulate economic growth and workforce development by fostering small business success in communities throughout Ohio and upstate New York.

The funding was not available until the Spring of 2018, so the estimated 2018 annual outputs of $33 million in New York and $8 million in Ohio are reflective of only a partial year of program activity. In 2018, the first year of the program, 1,531 entrepreneurs and small business owners received assistance from the program. 100% of the KeyBank Business Boost & Build money is dedicated for non-profit grantmaking and technical assistance for clients.

Beyond the economic and fiscal impacts of the KeyBank Business Boost & Build program, the program is providing access to capital for entrepreneurs of color. 70% of people serviced by the program are of color.

KeyBank Business Boost & Build: New York The KeyBank Business Boost & Build program currently operates in four regions in New York: Albany, Buffalo, Rochester, and Syracuse. The survey response data for the individual regions was not significant enough to model for 2018. As such, only an impact analysis at the State of New York level was completed for this report.

The KeyBank Center for Technology, Innovation and Inclusive Growth Funded by the KeyBank Business Boost & Build program, The KeyBank Center for Technology, Innovation and Inclusive Growth provides a variety of workforce and entrepreneurship resources to communities throughout Ohio. In 2018, survey data was gathered for the center’s operation in Dayton and Cincinnati regions. The survey response data for these individual regions was modeled for 2018. As such, only an impact analysis at the State of Ohio level was completed for this report.

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Non-Tech Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

KeyBank Business Boost & Build: New York 31 In 2018, companies supported by KeyBank Business Boost & Build: New York directly and indirectly generated an estimated $33 million of economic output in the State of New York. This output includes an estimated $23 million of economic

output

generated

by

KeyBank Business Boost & Build: New York In New York

Women

Owned/Led companies and $11 million of output generated by Minority Owned/Led companies.

These companies supported an estimated

499 jobs

499 direct and indirect jobs 32 in New York, 349 of which were connected with the economic activity of Women Owned/Led

$18 million of annual labor income

companies and 167 with the economic activity of Minority Owned/Led companies.

The jobs supported by KeyBank Business Boost & Build: New York’s programs and

315 households supported

funding had approximately $18 million of associated annual labor income, including benefits, and sustained an estimated 315

$3 million in annual state and local taxes

households in New York. Companies that received Boost and Build services and funding generated an estimated $3 million of state and local taxes in New York and $4 million of federal taxes during 2018.

$4 million in annual federal taxes

$33 million of annual economic output

410 companies supported by KeyBank Business Boost & Build: New York’s work in New York responded to a survey in 2018. 87 of these companies (21%) submitted adequate survey information for modelling.

31

32

Direct and indirect impacts are only calculable for modellable companies.

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Non-Tech Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

KeyBank Business Boost & Build: New York, New York Level Impact Details Indirect & Induced

Direct

Total

Total Jobs Earnings Households Supported State & Local Taxes

406 $ $

12,090,000 $ 256 1,428,000 $

93 6,250,000 $ 59 1,166,000 $

499 18,340,000 315 2,594,000

Federal Taxes

$

2,435,000 $

1,408,000 $

3,843,000

Output

$

16,947,000 $

16,162,000 $

33,109,000

Earnings Households Supported State & Local Taxes

$ $

9,797,000 $ 177 1,127,000 $

4,542,000 $ 43 869,000 $

14,339,000 220 1,996,000

Federal Taxes

$

1,978,000 $

1,028,000 $

3,006,000

Output

$

11,119,000 $

11,862,000 $

22,981,000

Women Owned/Led Jobs

281

68

349

Minority Owned/Led Jobs Earnings

138 $

Households Supported

2,768,000 $ 87

29 1,990,000 $ 18

167 4,758,000 105

State & Local Taxes Federal Taxes

$ $

352,000 $ 548,000 $

344,000 $ 442,000 $

696,000 990,000

Output

$

6,485,000 $

4,994,000 $

11,479,000

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Non-Tech Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

The KeyBank Center for Technology, Innovation and Inclusive Growth – Ohio 33 In 2018, companies supported by The KeyBank Center for Technology, Innovation and Inclusive

The KeyBank Center for Technology, Innovation and inclusive Growth in Ohio

Growth services and funding directly and indirectly generated an estimated $8 million of economic output in the State of Ohio. This output includes an estimated $7 million of economic

57 jobs

output generated by Women Owned/Led companies and $3 million of output generated

by Minority Owned/Led companies. These KeyBank Center companies supported an

$3 million of annual labor income

estimated 57 direct and indirect jobs34 in Ohio, 39 of which were connected with the economic activity of Women Owned/Led companies and

36 households supported

37 with the economic activity of Minority Owned/Led companies. The jobs supported by the KeyBank Center’s programs and funding had approximately $3 million of associated

$600,000 in annual state and local taxes

annual labor income, including benefits, and sustained an estimated 36 households in Ohio.

Ohio companies that received services and

$700,000 in annual federal taxes

funding from the KeyBank Center generated an estimated $600,000 of state and local taxes in Ohio and $700,000 of federal taxes during 2018.

$8 million of annual economic output

123 companies supported by The KeyBank Center for Technology, Innovation and Inclusive Growth’s work in Ohio responded to a survey in 2018. 10 of these companies (8%) submitted adequate survey information for modelling.

33

34

Direct and indirect impacts are only calculable for modellable companies.

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Non-Tech Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

The KeyBank Center for Technology, Innovation and Inclusive Growth, Ohio Level Impact Details Indirect & Induced

Direct

Total

Total 30

Jobs $

1,900,000 $ 19 406,000 $

27 1,368,000 $ 17 200,000 $

57 3,268,000 36 606,000

Earnings Households Supported State & Local Taxes

$

Federal Taxes

$

401,000 $

295,000 $

696,000

Output

$

4,371,000 $

3,971,000 $

8,342,000

Women Owned/Led Jobs Earnings Households Supported State & Local Taxes Federal Taxes Output

15 $

24

39

$

1,685,000 $ 9 379,000 $

1,194,000 $ 15 174,000 $

2,879,000 25 553,000

$

361,000 $

257,000 $

618,000

$

3,880,000 $

3,458,000 $

7,338,000

$

816,000 $

State & Local Taxes Federal Taxes

$ $

77,000 $ 150,000 $

75,000 $ 105,000 $

152,000 255,000

Output

$

1,359,000 $

1,463,000 $

2,822,000

Minority Owned/Led Jobs Earnings

27

Households Supported

17

10 498,000 $ 6

37 1,314,000 23

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JumpStart Intermediary Partners Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

5. JumpStart Intermediary Partners Total Work Economic Impacts This section summarizes the estimated economic impact of companies (both tech and nontech focused) that have received funding and/or business assistance from one of the many partner organizations JumpStart works with through its intermediary work.

JumpStart Intermediary Partners Total Work is comprised of the following: •

KeyBank Business Boost & Build: New York (the State of New York)

•

The KeyBank Center for Technology, Innovation and Inclusive Growth (the State of Ohio)

•

Network Serviced Companies (the State of Ohio)

See section 4. Non-Tech Total Work Economic Impacts for program details on KeyBank Business Boost & Build: New York and the KeyBank Center for Technology, Innovation and Inclusive Growth. See section 3. Tech ESP Total Work Economic Impacts for program details on Network Serviced Companies.

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JumpStart Intermediary Partners Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

JumpStart Intermediary Partners Total Work 35 In 2018, companies supported by JumpStart Intermediary Partners directly and indirectly generated an estimated $757 million of economic output in the States of Ohio and New York. This output includes an estimated $329

JumpStart Intermediary Partners Total Work in Ohio and New York

million of economic output generated by Women Owned/Led companies and $105 million of output generated by Minority Owned/Led companies.

5,475 jobs

These companies supported an estimated 5,475 direct and indirect jobs 36 in Ohio and New York, 2,805 of which were connected with the economic activity

$344 million of annual labor income

of Women

Owned/Led companies and 691 with the economic activity of Minority Owned/Led companies. The jobs supported by JumpStart Intermediary Partners’ programs and funding had approximately $344 million of associated annual labor income, including benefits, and

3,452 households supported

$49 million in annual state and local taxes

sustained an estimated 3,452 households in Ohio

and

New

York.

Companies

that

JumpStart Intermediary Partners’ services

$74 million in annual federal taxes

and funding generated an estimated $49 million of state and local taxes in New York and $74 million of federal taxes during 2018.

$757 million of annual economic output

1,029 companies supported by JumpStart Intermediary Partners in Ohio and New York responded to a survey in 2018. 371 of these companies (36%) submitted adequate survey information for modelling.

35

36

Direct and indirect impacts are only calculable for modellable companies.

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JumpStart Intermediary Partners Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

JumpStart Intermediary Partners Work: New York, Ohio and New York Level Impact Details Indirect & Induced

Direct

Total

Total 3,350

Jobs Earnings Households Supported State & Local Taxes

$ $

205,651,000 $ 2,112 25,036,000 $

2,125 138,609,000 $ 1,340 23,901,000 $

5,475 344,260,000 3,452 48,937,000

Federal Taxes

$

42,918,000 $

30,726,000 $

73,644,000

Output

$

388,641,000 $

368,721,000 $

757,362,000

Women Owned/Led Jobs

1,800

Earnings Households Supported State & Local Taxes

$

Federal Taxes Output

1,005

2,805

$

112,524,000 $ 1,135 11,713,000 $

63,859,000 $ 634 11,202,000 $

176,383,000 1,768 22,915,000

$

22,918,000 $

14,185,000 $

37,103,000

$

159,088,000 $

169,577,000 $

328,665,000

$

18,927,000 $

State & Local Taxes Federal Taxes

$ $

2,314,000 $ 3,893,000 $

2,962,000 $ 4,078,000 $

5,276,000 7,971,000

Output

$

57,165,000 $

48,120,000 $

105,285,000

Minority Owned/Led Jobs Earnings

416

Households Supported

262

275 18,701,000 $ 173

691 37,628,000 436

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JumpStart Intermediary Partners Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

The following maps depict companies 37 served by JumpStart Intermediary Partners in Ohio and New York by zip code.

JumpStart Intermediary Partners Work, Ohio Companies Served

JumpStart Intermediary Partners Work, New York Companies Served

37

Companies represented in the maps include all companies served, not just modellable companies.

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Leadership Participation │ JumpStart 2018 Economic Impact Report

Leadership Participation This study was made possible by the participation of JumpStart leadership, whose participation is sincerely appreciated. The names of some of the people who contributed to this report appear below.

Name

Title

Cathy Haley Kara Liz

Belk

Laura Jerry Kendra Patricia Ray Lamont Lorne Tamika Gayle Nicole Gloria Nick

Desmond Frantz Gardiner Grospiron Leach Mackley

Burk Carter Crowe

Novick Otis Pekkola Sims Ware Worner

President Manager, Advancement Senior Partner, Corporate & Community Relations Data Analytics Manager Senior Partner, Advancement Senior Managing Partner, Entrepreneurial Services & Investing Chief of Staff Senior Partner, Network Management Chief Executive Officer Partner, Core City Services & Outreach Senior Partner, Services & Deal Flow Management Program Manager for KeyBank Business Boost & Build Program Senior Partner, Marketing & Communications Partner, Inclusion Initiatives Director, KeyBank Center for Technology, Innovation & Inclusive Growth Senior Manager, Communications

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Study Methodology │ JumpStart 2018 Economic Impact Report

Study Methodology Terminology A Direct effect describes an initial, or first-round change in the economy and is the starting point for economic impact analysis. Changes in an economy create “ripples” of economic activity throughout the region being analyzed, with the ripples being described as Indirect and Induced Effects. A positive Direct effect causes increased purchases within the economy being modeled, as well as “leakage” of economic activity out of the economy being studied in the form of imports into the economy from other areas outside the economy. Generally speaking, Direct describes activity attributable to the economic activity being modeled (in this case the operations of companies served by JumpStart and its Partners).

In this report, direct jobs include both those employed and employed as contractors by the companies served by JumpStart and its Partners. Direct jobs are quantified based on survey response data provided by companies.

Indirect effects represent changes in the industries that provide goods and services to the economic activity being modeled (e.g. suppliers, service providers, etc.). Indirect effects occur in a repeating cycle but diminish in each round as economic activity “leaks” from the region being modeled. Indirect effects cease when the last dollar of economic activity leaks from the economy being studied. Indirect effects are estimated using IMPLAN. Induced effects represent the impact of changes in household spending resulting from the Direct and Indirect effects. Like Indirect effects, Induced effects occur in repeating cycles, but diminish in each round as economic activity “leaks” from the region being modeled. Induced effects cease when the last dollar of economic activity leaks from the economy being studied. Induced effects are estimated using IMPLAN. For ease of presentation, in this report, Induced effects are combined with Indirect effects and referred to simply as Indirect.

Total Impact refers to the final cumulative result of all rounds of Direct, Indirect and Induced economic activity.

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Study Methodology │ JumpStart 2018 Economic Impact Report

About IMPLAN Portions of this analysis were completed using the IMPLAN (IMpact Analysis for PLANning) economic impact modeling system. IMPLAN is a general input-output model that was originally developed by the U.S. Forest Service in the 1970’s and is now one of the most respected and widely used approaches to regional economic impact analysis. IMPLAN is used by more than 1,000 universities, government agencies, and consultants to estimate the economic and fiscal impacts of investments and/or changes in one or more industries. Data underlying the IMPLAN model is derived from industry surveys conducted periodically by the U.S. Bureau of Economic Analysis (BEA), as well as other sources.

About Silverlode Consulting Silverlode Consulting was founded in 2002 by two leaders of Ernst & Young’s and Pricewaterhouse Coopers’ consulting practices. As a national leader in the field of economic impact analysis, we have helped hundreds of organizations, ranging from non-profit arts groups to multi-national corporations, to measure their impacts on their communities and communicate those impacts to their stakeholders. By meticulously estimating and effectively communicating the direct, indirect, and induced jobs, earnings, taxes and other impacts of projects, the presence of an organization, or an investment in a community, our work has helped clients to gain approvals, secure funding, and positively shift public opinion. More information about our firm and our work in the area of economic impact analysis can be found on our website at www.silverlodeconsulting.com.

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Study Methodology │ JumpStart 2018 Economic Impact Report

The table below provides a reference of definitions for the items included in the summary tables and infographics of this report.

Direct

Indirect and Induced

Jobs

Jobs directly engaged in the activity being analyzed.

IMPLAN estimate of the number of jobs supported by the purchase of goods and services by the activity being modeled (Indirect) as well as by changes in household spending (Induced).

Earnings

Actual wages and benefits associated with Direct jobs.

Earnings of contractors were estimated based on the earnings of each company’s employees.

IMPLAN estimate of the total labor income (wages, benefits, and proprietor income) associated with the Indirect and Induced economic activity.

Households Supported

IMPLAN estimate of the number of households supported by the economic activity being analyzed.

IMPLAN estimate of the number of households supported by Indirect and induced economic activity.

Output

IMPLAN estimate of the total value of goods and services produced by the activity being modeled. Output often represents sales or revenue associated with this activity.

IMPLAN estimate of the total value of goods and services produced by Indirect and Induced economic activity. Output often represents sales or revenue associated with this activity.

State and Local Taxes

IMPLAN estimate of all taxes paid to state and local units of government as a direct result of the economic activity being analyzed.

IMPLAN estimate of all taxes paid to state and local units of government due to Indirect and Induced economic activity.

Federal Taxes

IMPLAN estimate of all taxes paid to the Federal government as a direct result of the economic activity being analyzed.

IMPLAN estimate of all taxes paid to the Federal government due to Indirect and Induced economic activity.

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Study Methodology │ JumpStart 2018 Economic Impact Report

Appendix – Additional Geographies

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APPENDIX 1: JumpStart + Partners Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

APPENDIX 1: JumpStart + Partners Total Work Economic Impacts

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APPENDIX 1: JumpStart + Partners Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

JumpStart + Partners Total Work – Ohio 38 In 2018, companies supported by JumpStart and its Partners’ services and funding directly and indirectly generated an estimated $953 million of economic output in the State of

JumpStart + Partners Total Work in Ohio

Ohio. This output includes an estimated $446 million of economic output generated by Women Owned/Led companies and $135 million

of

output

generated

by

Minority

Owned/Led companies.

7,199 jobs

These JumpStart + Partners Total Work companies supported an estimated 7,199 direct and indirect jobs

39

in Ohio, 3,939 of

$458 million of annual labor income

which were connected with the economic activity of Women Owned/Led companies and 1,213 with the economic activity of Minority Owned/Led companies. The jobs

4,539 households supported

supported by JumpStart and its Partners’ programs and funding had approximately $458 million of associated annual labor

$50 million in annual state and local taxes

income, including benefits, and sustained an estimated 4,539 households in Ohio.

Companies

that

received

services

and

funding from JumpStart and its Partners generated an estimated $50 million of state and local taxes in Ohio and $94 million of federal taxes during 2018.

38

$94 million in annual federal taxes $953 million of annual economic output

912 companies supported by JumpStart + Partners work in Ohio responded to a survey in 2018. 323 of

these companies (35%) submitted adequate survey information for modelling.

39

Direct and indirect impacts are only calculable for modellable companies.

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APPENDIX 1: JumpStart + Partners Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

JumpStart + Partners Total Work, Ohio Level Impact Details Indirect & Induced

Direct

Total

Total Jobs Earnings Households Supported State & Local Taxes

3,825 $ $

290,415,000 $ 2,411 24,573,000 $

3,374 167,558,000 $ 2,127 25,552,000 $

7,199 457,973,000 4,539 50,125,000

Federal Taxes

$

57,854,000 $

36,330,000 $

94,184,000

Output

$

454,944,000 $

497,675,000 $

952,619,000

Earnings Households Supported State & Local Taxes

$ $

161,201,000 $ 1,420 12,161,000 $

82,731,000 $ 1,064 12,753,000 $

243,932,000 2,483 24,914,000

Federal Taxes

$

31,872,000 $

17,995,000 $

49,867,000

Output

$

199,383,000 $

246,759,000 $

446,142,000

Women Owned/Led Jobs

2,252

1,687

3,939

Minority Owned/Led Jobs Earnings

713 $

Households Supported

39,540,000 $ 450

500 24,967,000 $ 315

1,213 64,507,000 765

State & Local Taxes Federal Taxes

$ $

2,674,000 $ 7,641,000 $

3,665,000 $ 5,368,000 $

6,339,000 13,009,000

Output

$

62,253,000 $

72,914,000 $

135,167,000

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APPENDIX 1: JumpStart + Partners Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

JumpStart + Partners Total Work – Northeast Ohio 40 In 2018, companies supported by JumpStart and its Partners’ services and funding directly and indirectly generated an estimated $860 million of economic output in Northeast Ohio.

JumpStart + Partners Total Work in Northeast Ohio

This output includes an estimated $406 million of economic output generated by Women Owned/Led companies and $105 million

of

output

generated

by

Minority

Owned/Led companies.

6,216 jobs

These JumpStart + Partners Total Work companies supported an estimated 6,216 direct and indirect jobs

41

in Northeast Ohio,

$388 million of annual labor income

3,351 of which were connected with the economic activity of Women Owned/Led companies and 715 with the economic activity of Minority Owned/Led companies.

The jobs supported by JumpStart and its Partners’

programs

and

funding

had

approximately $388 million of associated

3,919 households supported $45 million in annual state and local taxes

annual labor income, including benefits, and sustained an estimated 3,919 households in Northeast Ohio.

Northeast Ohio companies that received services and funding from JumpStart and its Partners generated an estimated $45 million of state and local taxes in Ohio and $81

$81 million in annual federal taxes $860 million of annual economic output

million of federal taxes during 2018.

40

761 companies supported by JumpStart + Partners work in Northeast Ohio responded to a survey in

2018. 296 of these companies (39%) submitted adequate survey information for modelling.

41

Direct and indirect impacts are only calculable for modellable companies.

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APPENDIX 1: JumpStart + Partners Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

JumpStart + Partners Total Work, Northeast Ohio Level Impact Details Indirect & Induced

Direct

Total

Total Jobs Earnings Households Supported State & Local Taxes

3,222 $ $

242,214,000 $ 2,031 22,735,000 $

2,994 145,445,000 $ 1,888 22,598,000 $

6,216 387,659,000 3,919 45,333,000

Federal Taxes

$

49,436,000 $

31,873,000 $

81,309,000

Output

$

425,748,000 $

434,131,000 $

859,879,000

Earnings Households Supported State & Local Taxes

$ $

133,725,000 $ 1,164 11,317,000 $

72,252,000 $ 948 11,275,000 $

205,977,000 2,113 22,592,000

Federal Taxes

$

26,981,000 $

15,883,000 $

42,864,000

Output

$

188,829,000 $

216,720,000 $

405,549,000

Women Owned/Led Jobs

1,847

1,504

3,351

Minority Owned/Led Jobs Earnings

361 $

Households Supported

20,592,000 $ 228

354 17,526,000 $ 223

715 38,118,000 451

State & Local Taxes Federal Taxes

$ $

1,917,000 $ 4,049,000 $

2,523,000 $ 3,785,000 $

4,440,000 7,834,000

Output

$

54,176,000 $

50,836,000 $

105,012,000

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APPENDIX 1: JumpStart + Partners Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

JumpStart + Partners Total Work – Cuyahoga County 42 In 2018, companies supported by JumpStart and its Partners’ services and funding directly and indirectly generated an estimated $493 million of economic output in Cuyahoga County. This

JumpStart + Partners Total Work in Cuyahoga County

output includes an estimated $279 million of economic

output

generated

by

Women

Owned/Led companies and $26 million of output generated by Minority Owned/Led companies.

These JumpStart + Partners Total Work

3,683 jobs

companies supported an estimated 3,683 direct and indirect jobs 43 in Cuyahoga County, 2,301 of which were connected with the

$261 million of annual labor income

economic activity of Women Owned/Led companies and 295 with the economic activity of Minority Owned/Led companies.

The jobs supported by JumpStart and its Partners’

programs

and

funding

2,322 households supported

had

approximately $261 million of associated annual labor income, including benefits, and

$27 million in annual state and local taxes

sustained an estimated 2,322 households in Cuyahoga

County.

Cuyahoga

County

companies that received services and funding from JumpStart and its Partners generated an estimated $27 million of state and local taxes in Cuyahoga County and $49 million of federal taxes during 2018.

42

$49 million in annual federal taxes $493 million of annual economic output

483 companies supported by JumpStart + Partners work in Cuyahoga County responded to a survey in

2018. 151 of these companies (31%) submitted adequate survey information for modelling.

43

Direct and indirect impacts are only calculable for modellable companies.

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APPENDIX 1: JumpStart + Partners Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

JumpStart + Partners Total Work, Cuyahoga County Level Impact Details Indirect & Induced

Direct

Total

Total Jobs Earnings Households Supported State & Local Taxes

2,205 $ $

177,693,000 $ 1,390 15,394,000 $

1,478 82,843,000 $ 932 11,120,000 $

3,683 260,536,000 2,322 26,514,000

Federal Taxes

$

32,594,000 $

16,623,000 $

49,217,000

Output

$

265,386,000 $

227,842,000 $

493,228,000

Earnings Households Supported State & Local Taxes

$ $

107,212,000 $ 897 8,918,000 $

48,823,000 $ 554 6,480,000 $

156,035,000 1,451 15,398,000

Federal Taxes

$

19,935,000 $

9,831,000 $

29,766,000

Output

$

144,040,000 $

135,448,000 $

279,488,000

Women Owned/Led Jobs

1,423

878

2,301

Minority Owned/Led Jobs Earnings

206 $

Households Supported

7,637,000 $ 130

89 4,829,000 $ 56

295 12,466,000 186

State & Local Taxes Federal Taxes

$ $

443,000 $ 1,331,000 $

575,000 $ 951,000 $

1,018,000 2,282,000

Output

$

13,720,000 $

12,627,000 $

26,347,000

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APPENDIX 1: JumpStart + Partners Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

JumpStart + Partners Total Work – Cleveland 44 In 2018, companies supported by JumpStart and its Partners’ services and funding directly and indirectly generated an estimated $165 million of economic output in the City of

JumpStart + Partners Total Work in Cleveland

Cleveland. This output includes an estimated $94 million of economic output generated by Women Owned/Led companies and $9 million of output generated by Minority Owned/Led companies.

1,537 jobs

These JumpStart + Partners Total Work companies supported an estimated 1,537 direct and indirect jobs

45

in Cleveland, 984 of

$105 million of annual labor income

which were connected with the economic activity of Women Owned/Led companies and 176 with the economic activity of Minority Owned/Led companies. The jobs supported

by JumpStart and its Partners’ programs and funding had approximately $105 million of associated annual labor income, including

969 households supported $9 million in annual state and local taxes

benefits, and sustained an estimated 969 households in Cleveland.

Cleveland companies that received services and funding from JumpStart and its Partners generated an estimated $9 million of state and local taxes in Ohio and $16 million of federal taxes during 2018.

44

$16 million in annual federal taxes $165 million of annual economic output

249 companies supported by JumpStart + Partners work in Cleveland responded to a survey in 2018. 76

of these companies (31%) submitted adequate survey information for modelling.

45

Direct and indirect impacts are only calculable for modellable companies.

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APPENDIX 1: JumpStart + Partners Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

JumpStart + Partners Total Work, Cleveland Level Impact Details Indirect & Induced

Direct

Total

Total Jobs Earnings Households Supported State & Local Taxes

1,217 $ $

87,415,000 $ 767 7,173,000 $

320 17,739,000 $ 202 1,846,000 $

1,537 105,154,000 969 9,019,000

Federal Taxes

$

12,713,000 $

2,825,000 $

15,538,000

Output

$

115,474,000 $

49,945,000 $

165,419,000

Earnings Households Supported State & Local Taxes

$ $

58,723,000 $ 501 3,250,000 $

10,247,000 $ 120 1,088,000 $

68,970,000 620 4,338,000

Federal Taxes

$

8,398,000 $

1,651,000 $

10,049,000

Output

$

64,445,000 $

29,237,000 $

93,682,000

Women Owned/Led Jobs

794

190

984

Minority Owned/Led Jobs Earnings

155 $

Households Supported

3,989,000 $ 98

21 1,139,000 $ 13

176 5,128,000 111

State & Local Taxes Federal Taxes

$ $

166,000 $ 531,000 $

104,000 $ 178,000 $

270,000 709,000

Output

$

5,818,000 $

3,024,000 $

8,842,000

70 | P a g e

APPENDIX 1: JumpStart + Partners Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

JumpStart + Partners Total Work – New York 46 In 2018, companies supported by JumpStart and its Partners’ services and funding (all of which was attributable to KeyBank Business Boost & Build:

New

York)

directly

and

indirectly

JumpStart + Partners Total Work In New York

generated an estimated $33 million of economic output in the State of New York. This output includes an estimated $23 million of economic output generated by Women Owned/Led companies and $11 million of output generated

499 jobs

by Minority Owned/Led companies.

These JumpStart + Partners Total Work companies supported an estimated 499 direct

$18 million of annual labor income

and indirect jobs47 in New York, 349 of which were connected with the economic activity of Women Owned/Led companies and 167 with the economic activity of Minority Owned/Led companies. The jobs supported by JumpStart and its Partners’ programs and funding had approximately $18 million of associated annual

315 households supported $3 million in annual state and local taxes

labor income, including benefits, and sustained an estimated 315 households in New York.

Companies that received services and funding

$4 million in annual federal taxes

from JumpStart and its Partners generated an estimated $3 million of state and local taxes in New York and $4 million of federal taxes during 2018.

46

$33 million of annual economic output

410 companies supported by JumpStart + Partners work in New York responded to a survey in 2018. 87

of these companies (21%) submitted adequate survey information for modelling.

47

Direct and indirect impacts are only calculable for modellable companies.

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APPENDIX 1: JumpStart + Partners Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

JumpStart + Partners Total Work, New York Level Impact Details Indirect & Induced

Direct

Total

Total Jobs Earnings Households Supported State & Local Taxes

406 $ $

12,090,000 $ 256 1,428,000 $

93 6,250,000 $ 59 1,166,000 $

499 18,340,000 315 2,594,000

Federal Taxes

$

2,435,000 $

1,408,000 $

3,843,000

Output

$

16,947,000 $

16,162,000 $

33,109,000

Earnings Households Supported State & Local Taxes

$ $

9,797,000 $ 177 1,127,000 $

4,542,000 $ 43 869,000 $

14,339,000 220 1,996,000

Federal Taxes

$

1,978,000 $

1,028,000 $

3,006,000

Output

$

11,119,000 $

11,862,000 $

22,981,000

Women Owned/Led Jobs

281

68

349

Minority Owned/Led Jobs Earnings

138 $

Households Supported

2,768,000 $ 87

29 1,990,000 $ 18

167 4,758,000 105

State & Local Taxes Federal Taxes

$ $

352,000 $ 548,000 $

344,000 $ 442,000 $

696,000 990,000

Output

$

6,485,000 $

4,994,000 $

11,479,000

72 | P a g e

APPENDIX 2: Tech ESP Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

APPENDIX 2: Tech ESP Total Work Economic Impacts

73 | P a g e

APPENDIX 2: Tech ESP Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

Tech ESP Total Work – Northeast Ohio 48 In 2018, companies supported by JumpStart and its Partners’ Tech ESP services and funding directly and indirectly generated an estimated $841 million of economic output in Northeast

Tech ESP Total Work In Northeast Ohio

Ohio. This output includes an estimated $398 million of economic output generated by Women Owned/Led companies and $99 million of output generated by Minority Owned/Led companies.

These ESP Tech companies supported an

6,032 jobs

estimated 6,032 direct and indirect jobs49 in Northeast Ohio, 3,261 of which were connected with

the

economic

activity

of

Women

$378 million of annual labor income

Owned/Led companies and 655 with the economic

activity

of

Minority

Owned/Led

companies. The jobs supported by the ESP programs and funding had approximately $378

3,803 households supported

million of associated annual labor income, including benefits, and sustained an estimated 3,803 households in Northeast Ohio.

$45 million in annual state and local taxes

Northeast Ohio companies that received Tech ESP services and funding from JumpStart and its Partners generated an estimated $45 million of

$79 million in annual federal taxes

state and local taxes in Ohio and $79 million of federal taxes during 2018.

48

$841 million of annual economic output

496 companies supported by JumpStart + Partners Tech ESP work in Northeast Ohio responded to a survey in

2018. 285 of these companies (57%) submitted adequate survey information for modelling.

49

Direct and indirect impacts are only calculable for modellable companies.

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APPENDIX 2: Tech ESP Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

Tech ESP Total Work, Northeast Ohio Level Impact Details Indirect & Induced

Direct

Total

Total Jobs Earnings Households Supported State & Local Taxes

3,114 $ $

235,969,000 $ 1,963 22,429,000 $

2,918 141,905,000 $ 1,840 22,074,000 $

6,032 377,874,000 3,803 44,503,000

Federal Taxes

$

48,330,000 $

31,103,000 $

79,433,000

Output

$

416,932,000 $

423,803,000 $

840,735,000

Earnings Households Supported State & Local Taxes

$ $

131,154,000 $ 1,126 11,163,000 $

70,915,000 $ 930 11,066,000 $

202,069,000 2,056 22,229,000

Federal Taxes

$

26,508,000 $

15,588,000 $

42,096,000

Output

$

185,134,000 $

212,726,000 $

397,860,000

Women Owned/Led Jobs

1,786

1,475

3,261

Minority Owned/Led Jobs Earnings

323 $

Households Supported

19,491,000 $ 204

332 16,466,000 $ 209

655 35,957,000 413

State & Local Taxes Federal Taxes

$ $

1,835,000 $ 3,854,000 $

2,380,000 $ 3,558,000 $

4,215,000 7,412,000

Output

$

50,999,000 $

47,816,000 $

98,815,000

75 | P a g e

APPENDIX 2: Tech ESP Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

Tech ESP Total Work – Cuyahoga County 50 In 2018, companies supported by JumpStart and its Partners’ Tech ESP services and funding directly and indirectly generated an estimated $479 million of economic output in Cuyahoga County. This output includes an

Tech ESP Total Work In Cuyahoga County

estimated $275 million of economic output generated by Women Owned/Led companies and $21 million of output generated by Minority Owned/Led companies.

3,541 jobs

These ESP Tech companies supported an estimated 3,541 direct and indirect jobs 51 in Cuyahoga County, 2,240 of which were connected with the economic activity of

$252 million of annual labor income

Women Owned/Led companies and 240 with the economic activity of Minority Owned/Led companies. The jobs supported by the ESP

2,232 households supported

programs and funding had approximately $252 million of associated annual labor income, including benefits, and sustained an estimated 2,232 households in Cuyahoga

$26 million in annual state and local taxes

County.

Cuyahoga County companies that received Tech

ESP

services

and

funding

from

JumpStart and its Partners generated an estimated $26 million of state and local taxes in Ohio and $48 million of federal taxes during

$48 million in annual federal taxes $479 million of annual economic output

2018.

50

239 companies supported by JumpStart + Partners Tech ESP work in Cuyahoga County responded to a survey

in 2018. 146 of these companies (61%) submitted adequate survey information for modelling.

51

Direct and indirect impacts are only calculable for modellable companies.

76 | P a g e

APPENDIX 2: Tech ESP Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

Tech ESP Total Work, Cuyahoga County Level Impact Details Indirect & Induced

Direct

Total

Total Jobs Earnings Households Supported State & Local Taxes

2,112 $ $

172,028,000 $ 1,331 15,135,000 $

1,429 80,208,000 $ 901 10,788,000 $

3,541 252,236,000 2,232 25,923,000

Federal Taxes

$

31,679,000 $

16,099,000 $

47,778,000

Output

$

257,917,000 $

220,714,000 $

478,631,000

Earnings Households Supported State & Local Taxes

$ $

105,056,000 $ 868 8,799,000 $

48,026,000 $ 544 6,366,000 $

153,082,000 1,412 15,165,000

Federal Taxes

$

19,573,000 $

9,668,000 $

29,241,000

Output

$

141,526,000 $

133,163,000 $

274,689,000

Women Owned/Led Jobs

1,377

863

2,240

Minority Owned/Led Jobs Earnings

168 $

Households Supported

6,785,000 $ 106

72 3,868,000 $ 45

240 10,653,000 151

State & Local Taxes Federal Taxes

$ $

364,000 $ 1,176,000 $

472,000 $ 764,000 $

836,000 1,940,000

Output

$

10,521,000 $

10,120,000 $

20,641,000

77 | P a g e

APPENDIX 2: Tech ESP Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

Tech ESP Total Work – Cleveland 52 In 2018, companies supported by JumpStart and its Partners’ Tech ESP services and funding directly and indirectly generated an estimated $156 million of economic output in the City of Cleveland. This output includes an

Tech ESP Total Work In Cleveland

estimated $92 million of economic output generated by Women Owned/Led companies and $4 million of output generated by Minority Owned/Led companies.

1,443 jobs

These ESP Tech companies supported an estimated 1,443 direct and indirect jobs 53 in the City of Cleveland, 950 of which were

$100 million of annual labor income

connected with the economic activity of Women Owned/Led companies and 129 with the economic activity of Minority Owned/Led companies. The jobs supported by the ESP

910 households supported

programs and funding had approximately $100 million of associated annual labor income, including benefits, and sustained an estimated 910 households.

Cleveland companies that received Tech ESP services and funding from JumpStart and its Partners generated an estimated $9 million of state and local taxes in Ohio and $15 million of federal taxes during 2018.

52

$9 million in annual state and local taxes

$15 million in annual federal taxes $156 million of annual economic output

113 companies supported by JumpStart + Partners Tech ESP work in Cleveland responded to a survey in

2018. 72 of these companies (64%) submitted adequate survey information for modelling.

53

Direct and indirect impacts are only calculable for modellable companies.

78 | P a g e

APPENDIX 2: Tech ESP Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

Tech ESP Total Work, Cleveland Level Impact Details Indirect & Induced

Direct

Total

Total Jobs Earnings Households Supported State & Local Taxes

1,143 $ $

83,399,000 $ 721 7,031,000 $

300 16,647,000 $ 189 1,742,000 $

1,443 100,046,000 910 8,773,000

Federal Taxes

$

12,204,000 $

2,655,000 $

14,859,000

Output

$

109,340,000 $

47,012,000 $

156,352,000

Earnings Households Supported State & Local Taxes

$ $

58,291,000 $ 481 3,210,000 $

10,101,000 $ 118 1,072,000 $

68,392,000 599 4,282,000

Federal Taxes

$

8,337,000 $

1,626,000 $

9,963,000

Output

$

63,267,000 $

28,794,000 $

92,061,000

Women Owned/Led Jobs

763

187

950

Minority Owned/Led Jobs Earnings

117 $

Households Supported

3,137,000 $ 74

12 632,000 $ 8

129 3,769,000 81

State & Local Taxes Federal Taxes

$ $

98,000 $ 409,000 $

63,000 $ 100,000 $

161,000 509,000

Output

$

2,619,000 $

1,670,000 $

4,289,000

79 | P a g e

APPENDIX 2: Tech ESP Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

JumpStart Serviced Companies – Northeast Ohio 54 In 2018, companies supported by JumpStart services directly and indirectly generated an estimated $689 million of economic output in Northeast Ohio. This output includes an estimated $322 million of economic output

JumpStart Serviced Companies In Northeast Ohio

generated by Women Owned/Led companies and $75 million of output generated by Minority Owned/Led companies.

These

JumpStart

Serviced

Companies

4,987 jobs

supported an estimated 4,987 direct and indirect jobs 55 in Northeast Ohio, 2,726 of which were connected with the economic

$309 million of annual labor income

activity of Women Owned/Led companies and 546 with the economic activity of Minority Owned/Led companies. The jobs supported by the JumpStart Serviced Companies had

3,144 households supported

approximately $309 million of associated annual labor income, including benefits, and sustained an estimated 3,144 households in

$35 million in annual state and local taxes

Northeast Ohio.

Northeast Ohio companies that received JumpStart services generated an estimated

$65 million in annual federal taxes

$35 million of state and local taxes in Ohio and $65 million of federal taxes during 2018.

$689 million of annual economic output

371 companies supported by JumpStart services in Northeast Ohio responded to a survey in 2018. 228 of these companies (61%) submitted adequate survey information for modelling.

54

55

Direct and indirect impacts are only calculable for modellable companies.

80 | P a g e

APPENDIX 2: Tech ESP Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

JumpStart Serviced Companies, Northeast Ohio Level Impact Details Indirect & Induced

Direct

Total

Total Jobs Earnings Households Supported State & Local Taxes

2,590 $ $

192,114,000 $ 1,633 16,671,000 $

2,397 116,787,000 $ 1,511 18,113,000 $

4,987 308,901,000 3,144 34,784,000

Federal Taxes

$

39,417,000 $

25,595,000 $

65,012,000

Output

$

339,907,000 $

349,351,000 $

689,258,000

Earnings Households Supported State & Local Taxes

$ $

108,577,000 $ 961 7,392,000 $

57,782,000 $ 757 9,028,000 $

166,359,000 1,719 16,420,000

Federal Taxes

$

21,781,000 $

12,712,000 $

34,493,000

Output

$

147,606,000 $

173,971,000 $

321,577,000

Women Owned/Led Jobs

1,525

1,201

2,726

Minority Owned/Led Jobs Earnings

265 $

Households Supported

16,329,000 $ 167

281 13,658,000 $ 177

546 29,987,000 344

State & Local Taxes Federal Taxes

$ $

1,183,000 $ 3,223,000 $

1,920,000 $ 2,943,000 $

3,103,000 6,166,000

Output

$

35,304,000 $

39,297,000 $

74,601,000

81 | P a g e

APPENDIX 2: Tech ESP Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

JumpStart Funded Companies – Northeast Ohio 56 In 2018, companies supported by JumpStart funding directly and indirectly generated an estimated $398 million of economic output in Northeast Ohio. This output includes an estimated $227 million of economic output

JumpStart Funded Companies In Northeast Ohio

generated by Women Owned/Led companies and $47 million of output generated by Minority Owned/Led companies.

These

JumpStart

Funded

Companies

2,577 jobs

supported an estimated 2,577 direct and indirect jobs 57 in Northeast Ohio, 1,675 of which were connected with the economic

$176 million of annual labor income

activity of Women Owned/Led companies and 250 with the economic activity of Minority Owned/Led companies. The jobs supported by the JumpStart Funded Companies had

1,625 households supported

approximately $176 million of associated annual labor income, including benefits, and sustained an estimated 1,625 households in

$19 million in annual state and local taxes

Northeast Ohio.

Northeast Ohio companies that received JumpStart funding generated an estimated $19 million of state and local taxes in Ohio and $37 million of federal taxes during 2018.

$37 million in annual federal taxes $398 million of annual economic output

47 companies supported by JumpStart funding in Northeast Ohio responded to a survey in 2018. 44 of these companies (94%) submitted adequate survey information for modelling.

56

57

Direct and indirect impacts are only calculable for modellable companies.

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APPENDIX 2: Tech ESP Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

JumpStart Funded Companies, Northeast Ohio Level Impact Details Indirect & Induced

Direct

Total

Total Jobs Earnings Households Supported State & Local Taxes

1,172 $ $

107,006,000 $ 739 8,822,000 $

1,405 68,877,000 $ 886 10,591,000 $

2,577 175,883,000 1,625 19,413,000

Federal Taxes

$

22,120,000 $

15,109,000 $

37,229,000

Output

$

191,111,000 $

206,858,000 $

397,969,000

Earnings Households Supported State & Local Taxes

$ $

71,552,000 $ 528 5,429,000 $

40,459,000 $ 528 6,225,000 $

112,011,000 1,056 11,654,000

Federal Taxes

$

14,706,000 $

8,904,000 $

23,610,000

Output

$

105,092,000 $

122,117,000 $

227,209,000

Women Owned/Led Jobs

838

837

1,675

Minority Owned/Led Jobs Earnings

75 $

Households Supported

8,617,000 $ 47

175 8,647,000 $ 110

250 17,264,000 158

State & Local Taxes Federal Taxes

$ $

713,000 $ 1,726,000 $

1,180,000 $ 1,853,000 $

1,893,000 3,579,000

Output

$

22,498,000 $

24,889,000 $

47,387,000

83 | P a g e

APPENDIX 2: Tech ESP Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

Network Funded Companies – Northeast Ohio 58 In 2018, companies funded by ESP Network directly and indirectly generated an estimated $516 million of economic output in Northeast Ohio. This output includes an estimated $237 million of economic output generated by

Network Funded Companies In Northeast Ohio

Women Owned/Led companies and $58 million of output generated by Minority Owned/Led companies.

These Network Funded Companies supported

3,353 jobs

an estimated 3,353 direct and indirect jobs 59 in Northeast Ohio, 1,911 of which were connected with the economic activity of

$219 million of annual labor income

Women Owned/Led companies and 312 with the economic activity of Minority Owned/Led companies. The jobs supported by the Network

Funded

Companies

had

2,114 households supported

approximately $219 million of associated annual labor income, including benefits, and sustained an estimated 2,114 households in

$26 million in annual state and local taxes

Northeast Ohio.

Companies

that

received

ESP

Network

funding generated an estimated $26 million of state and local taxes in Ohio and $47 million of federal taxes during 2018.

$47 million in annual federal taxes $516 million of annual economic output

148 companies supported by Network ESP funding in Northeast Ohio responded to a survey in 2018. 114 of these companies (77%) submitted adequate survey information for modelling.

58

59

Direct and indirect impacts are only calculable for modellable companies.

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APPENDIX 2: Tech ESP Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

Network Funded Companies, Northeast Ohio Level Impact Details Indirect & Induced

Direct

Total

Total Jobs Earnings Households Supported State & Local Taxes

1,618 $ $

133,172,000 $ 1,020 13,092,000 $

1,735 85,438,000 $ 1,094 13,194,000 $

3,353 218,610,000 2,114 26,286,000

Federal Taxes

$

28,033,000 $

18,720,000 $

46,753,000

Output

$

259,621,000 $

256,108,000 $

515,729,000

Earnings Households Supported State & Local Taxes

$ $

81,188,000 $ 640 5,844,000 $

43,033,000 $ 565 6,709,000 $

124,221,000 1,205 12,553,000

Federal Taxes

$

16,532,000 $

9,483,000 $

26,015,000

Output

$

106,871,000 $

130,313,000 $

237,184,000

Women Owned/Led Jobs

1,015

896

1,911

Minority Owned/Led Jobs Earnings

108 $

Households Supported

10,267,000 $ 68

204 10,205,000 $ 129

312 20,472,000 197

State & Local Taxes Federal Taxes

$ $

833,000 $ 2,067,000 $

1,422,000 $ 2,190,000 $

2,255,000 4,257,000

Output

$

28,211,000 $

29,441,000 $

57,652,000

85 | P a g e

APPENDIX 2: Tech ESP Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

Exited ESP Companies – Northeast Ohio 60 Exited ESP companies are companies that were acquired or had an IPO. In 2018, Exited Companies directly and indirectly generated an estimated $63 million of economic output in Northeast Ohio.

These

Exited

Companies

supported

Exited ESP Companies In Northeast Ohio

an

estimated 341 direct and indirect jobs in Northeast Ohio. The jobs supported by the exited companies had approximately $21

341 jobs

million of associated annual labor income, including

benefits,

and

sustained

an

estimated 215 households in Northeast Ohio.

Northeast

Ohio

companies

that

$21 million of annual labor income

exited

generated an estimated $3 million of state and local taxes in Ohio and $5 million of

215 households supported

federal taxes during 2018.

$3 million in annual state and local taxes

$5 million in annual federal taxes

$63 million of annual economic output

3 Exited ESP companies in Northeast Ohio responded to a survey in 2018. 3 of these companies (100%) submitted adequate survey information for modelling.

60

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APPENDIX 2: Tech ESP Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

Exited JumpStart Portfolio Companies, Northeast Ohio Level Impact Details Direct

Indirect & Induced

Total

Total Jobs Earnings Households Supported State & Local Taxes

153 $ $

11,436,000 $ 96 1,370,000 $

188 9,643,000 $ 119 1,326,000 $

341 21,079,000 215 2,696,000

Federal Taxes

$

2,691,000 $

2,143,000 $

4,834,000

Output

$

32,038,000 $

30,804,000 $

62,842,000

87 | P a g e

APPENDIX 3: Non-Tech Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

APPENDIX 3: Non-Tech Total Work Economic Impacts

88 | P a g e

APPENDIX 3: Non-Tech Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

Core City: Cleveland – Cleveland 61 In 2018, companies supported by Core City: Cleveland’s services and funding directly and indirectly generated an estimated $66 million of economic output in the City of Cleveland. This

Core City Cleveland In Cleveland

output includes an estimated $57 million of economic

output

generated

by

Women

Owned/Led companies, $10 million of output generated by Minority Owned/Led companies, and $5 million generated by Impact Program

560 jobs

Participants.

These

Core

City:

Cleveland

companies

supported an estimated 560 direct and indirect

$22 million of annual labor income

jobs62 in Cleveland, 433 of which were connected with the economic activity of Women Owned/Led companies, 317 with the economic activity of Minority Owned/Led companies, and

353 households supported

121 with the economic activity of Impact Program Participants. The jobs supported by Core

City:

Cleveland’s

programs

had

$2 million in annual state and local taxes

approximately $22 million of associated annual labor income, including benefits, and sustained an estimated 353 households in Cleveland.

Cleveland companies that received Core City: Cleveland services and funding from JumpStart generated an estimated $2 million of state and local taxes in Ohio and $3 million of federal taxes

$3 million in annual federal taxes

$66 million of annual economic output

during 2018.

135 companies supported by Core City: Cleveland’s work in Cleveland responded to a survey in 2018. 68 of these companies (50%) submitted adequate survey information for modelling.

61

62

Direct and indirect impacts are only calculable for modellable companies.

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APPENDIX 3: Non-Tech Total Work Economic Impacts │ JumpStart 2018 Economic Impact Report

Core City: Cleveland, Cleveland Level Impact Details Indirect & Induced

Direct

Total

Total Jobs

428

Earnings Households Supported State & Local Taxes

$

132

560

$

13,712,000 $ 270 911,000 $

8,351,000 $ 83 675,000 $

22,063,000 353 1,586,000

Federal Taxes

$

1,995,000 $

1,292,000 $

3,287,000

Output

$

45,043,000 $

21,351,000 $

66,394,000

Women Owned/Led Jobs

319

Earnings Households Supported State & Local Taxes

$

Federal Taxes Output

114

433

$

8,618,000 $ 201 625,000 $

7,300,000 $ 72 564,000 $

15,918,000 273 1,189,000

$

1,300,000 $

1,127,000 $

2,427,000

$

38,701,000 $

18,370,000 $

57,071,000

$

5,289,000 $

State & Local Taxes Federal Taxes

$ $

328,000 $ 709,000 $

127,000 $ 194,000 $

455,000 903,000

Output

$

6,761,000 $

3,367,000 $

10,128,000

$

3,595,000 $

State & Local Taxes Federal Taxes

$ $

230,000 $ 494,000 $

70,000 $ 93,000 $

300,000 587,000

Output

$

3,014,000 $

1,688,000 $

4,702,000

Minority Owned/Led Jobs Earnings

295

Households Supported

186

22 1,208,000 $ 14

317 6,497,000 200

Impact Program Jobs Earnings

110

Households Supported

69

11 555,000 $ 7

121 4,150,000 76

90 | P a g e