CLEVELAND - Team Northeast Ohio on Wednesday offered part of its $4.1 million funding for ideas from key economic development groups on creating jobs, attracting capital investment and strengthening the region's competitiveness.
Team NEO Chief Executive Officer Tom Waltermire said proposals should focus on helping existing companies expand; new approaches for existing investment to yield better results; programs that can be expanded or replicated regionwide; create collaborations that get more from existing resources; and broad regional benefit and identified funding sources for the long term.
Proposals must be submitted to Team NEO by Nov. 11. A task force of Team NEO trustees will rank them for the executive committee, which will make recommendations to the full board on Dec. 6.
The Ohio Third Frontier Commission recently awarded Team NEO a one-year, $4.1 million grant to support its new responsibilities as one of six JobsOhio Network Regional Partners across the state.
Most of the grant will be used to fund proposals that will enhance economic development in the region. A portion of the grant will be used by Team NEO to execute its new duties, including the JobsOhio Regional Office to help Northeast Ohio companies and communities seeking support from JobsOhio for growth and job creation.
The money is not to be used as incentives or funding for economic development deals, the group said.