As part of Mayor Frank G. Jackson’s Neighborhood Transformation Initiative (NTI), the City of Cleveland and Cleveland Citywide Development Corporation (CCDC) are partnering to launch Glenville’s first retail incubator program. This pilot program will be located in Glenville’s new mixed-use development – Glenville Circle North – putting it at the center of neighborhood revitalization efforts. Local entrepreneurs interested in the incubator program can apply online at www.clevelandohio.gov/NTI. Applications are due by Nov. 30.
“The collaboration between the City of Cleveland and our partners will provide the necessary services and resources to help entrepreneurs formalize their business ideas,” said Mayor Frank G. Jackson. “Business ownership has long been a part of what makes Cleveland a successful city, but when everyone has an opportunity to participate in entrepreneurship and wealth creation, we will begin moving from a successful city to a great city.”
The Retail Incubator Program and Entrepreneur Selection Process
The retail incubator program will provide space for local entrepreneurs to learn how to run a retail operation and grow their business before moving into a permanent new location. The incubator will offer below market rent and subsidized build-out costs that will dramatically reduce the barrier to entry for those ready to move their business into a physical space.
Six small business entrepreneurs will be selected. They will rotate out every two years, and one experienced restaurant business will serve as an anchor for the site. Local retailers, art vendors, food manufacturers, restaurateurs, cosmetologists and other service providers seeking a brick and mortar location are encouraged to apply. The Glenville Circle North development will be complete in Summer 2019.
The incubator selection process will include competitive pitches, specialized training and one-on-one coaching. A committee comprised of representatives from the partner entrepreneur-support organizations—including JumpStart, Urban League of Greater Cleveland, ECDI, and The Real Black Friday—Famicos Foundation, experienced restaurateurs and retail operators, as well as the City and CCDC representatives. Applicants must be available for training and events in January and February 2019.
“CCDC is pleased and excited to assist in the economic rejuvenation of the Glenville ‘Circle North’ neighborhood. With the assistance of the Mayor’s Neighborhood Transformation Initiative, we can offer startup and existing businesses a tremendous opportunity to have custom-built space at no cost for build out and reduced rent. This will allow small business to take advantage of the growth of this historic business district and participate in an exciting neighborhood transformation,” said Stefan Holmes, Vice Chairperson of CCDC.
To view and share more information about the retail incubator program, download the flyer here.
Mayor Jackson announced plans for his $65 million Neighborhood Transformation Initiative in 2017 with a goal of providing healthy, sustainable and equitable opportunities to build wealth and stabilize neighborhoods. The NTI will not only bring in new development that creates walkable neighborhoods, but also includes:
- Diverse housing
- New home construction
- Targeted demolition
- Home repair, with some funds specifically designated for Cleveland seniors
- Vacant land stabilization and more.
Other neighborhoods targeted for future investment include West 25th-Clark-Fulton, Buckeye-Woodhill and the Opportunity Corridor: Kinsman-Woodland.
For more information on available business assistance in the City of Cleveland, visit www.clevelandohio.gov/NTI or the City of Cleveland Economic Development Facebook page.