Northeast Ohio Regional Economic Development Fund Receives $4 Million From Gund Foundation

The Fund for Our Economic Future, a public-private partnership that works to strengthen Northeast Ohio's economic competitiveness, has announced a $4 million commitment from the George Gund Foundation in support of its next three-year phase.

In partnership with business, higher education, and the public sector, the fund has distributed nearly $75 million from member institutions since 2004 to create systemic change in four areas: the region's ability to grow business, develop talent, be inclusive, and help local governments govern more efficiently and effectively.

During its next phase, which will run from 2013 to 2015, the fund will focus on aligning goals, resources, and actions with private-sector partners and on supporting key strategies and initiatives that help Northeast Ohio outperform the national economy. The fund expects to raise $15 million to support its efforts, and as in years past the fund's board will determine how best to invest those resources.

"The fund has regularly partnered with private-sector stakeholders on initiatives that have helped attract jobs and investments to the region," said Fund for Our Economic Future president Brad Whitehead. "We look forward to even greater results as we elevate that partnership to a more strategic level. The shape and scope of the partnership will evolve over the next several months."

“The George Gund Foundation Commits to Next Phase of Fund for Our Economic Future.” Fund for Our Economic Future Press Release 7/16/12.

Primary Subject: Community Improvement/Development
Secondary Subject(s): Public Affairs
Location(s): Cleveland, Ohio

FC018036