Ohio is recognizing Cleveland's Health-Tech Corridor as a "hub" deserving of grant money and special preferred status, which should be a huge boost to the Euclid Corridor, the $250 million renovation between University Circle and downtown Cleveland. There are a number of well-capitalized developers who have an interest in seeing the corridor succeed. So strong is the faith in the corridor's success, one developer is building a +100,000 sf spec building, probably the first of its kind in a number of years in Cleveland.
According to the Plain Dealer, being a hub "brings with it a $250,000 matching grant and priority status for millions of dollars in grants and loans that the Ohio Department of Development and other state agencies dole out yearly." The corridor is already pretty successful, an obvious reason why the state would want to focus additional resources there. Per the Plain Dealer, the has more than 75 biomedical companies, 45 technology companies and seven business incubators.
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