ECONOMIC GROWTH FOUNDATION
1240 Huron Road E No 300, Cleveland, OH 44115

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Organizations Filed Purposes: To promote and advance the civic, economic, and cultural growth of Greater Cleveland.

The Equity & Inclusion division, formerly the Commission on Economic Inclusion, has been working since 2001 to close the racial disparities in jobs, income and wealth, by growing businesses owned by people of color and increasing workforce diversity, equity and inclusion. Ultimately, this work is fueled by the belief that businesses and the region are stronger with greater racial equity.Acting as a convener, an advocate, and a resource, GCP's Equity & Inclusion engages the region's employers to address the systemic racial inequalities which hinder economic growth in our region. Hundreds of professionals, top leaders, volunteers, businesses, and community organizations are engaged with GCP's Equity & Inclusion each year to accomplish these goals.Equity & Inclusion has focused on two parallel and equally important areas: growing businesses owned by people of color and increasing workforce diversity, equity and inclusion through high-quality and effective initiatives, workshops, conferences, and consulting to stimulate minority business growth and increase workforce inclusion. Clients include executives, chief procurement officers, diversity and human resource professionals, small and minority-owned businesses, and regional and national economic development organizations. Some of the major accomplishments this year include:The Equity & Inclusion (E&I) division completed a planning process to develop strategies that answer the question, "How can racially equitable economic development grow our region?" With the support of a taskforce of board members and community leaders, the E&I division developed three strategies, one of which is CommitCLE.CommitCLE: CommitCLE is a comprehensive initiative to facilitate significant growth for minority business enterprises (MBEs). Through this work, a cohort of companies made a commitment to increase supplier diversity spend targeted at growth-oriented minority firms. These companies will:- Grow local and diverse spend - Mentor 2-3 MBE Firms- Utilize The Marketplace to source MBEs and promote opportunitiesCommitCLE is also supported by the Inclusion Marketplace, an online portal connecting MBEs with demand for goods and services. On the supply side, MBEs promote their goods/services, find business opportunities, and bid on work. On the demand side, buyers can post opportunities and source suppliers to diversify their vendor-base. Additionally, the portal connects MBEs to resources, capital, and outreach events. This initiative will close the gap between supply and demand to increase the number of scalable MBEs.

The Cleveland Innovation Project is an initiative used and GCP has led to stimulate innovation to drive inclusive economic growth in the Greater Cleveland area.Cleveland Innovation Project (CIP): GCP and our partners launched the Cleveland Innovation Project (CIP) through collaboration with the Cleveland Foundation, Fund for Our Economic Future, JumpStart and TeamNEO. The CIP is supported by a Steering Committee and Workstream Teams of more than 100 business, entrepreneurial, institutional, and nonprofit leaders - including many GCP members. GCP led this collaborative work through much of 2019.CIP Scope: The CIP's focus is to set Cleveland on a trajectory of sustained, rapid economic growth through focused investments in innovation sectors where we have differentiated assets and there is national or global demand. CIP leverages growth through inclusive techniques to close disparities and make Cleveland the leader in minority-led innovation. CIP supports these sector initiatives by strengthening the innovation ecosystem through encouraging applied research and spinouts, boosting digital and technical talent development and attraction programs, and launching a continuum of private funds to seed and scale companies. Accelerating the innovation economy offers Cleveland an opportunity to compound the impact of revitalization investments that have been and continue to be made throughout our community.

Workforce Development & Education:The Greater Cleveland Partnership is committed to working with its partners in the public and private sectors to ensure that Northeast Ohio creates, attracts and retains a 21st century workforce. As a 501(c)(3), the Economic Growth Foundation supports all of GCP's above Talent initiatives and outcomes that leverage restricted philanthropic dollars.

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