Urban Studies and Planning Commons^™

Measuring The Economic Impact Of Employee Stock Ownership Plans (Esops) On Ohio, Michael Palmieri, Iryna Demko

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This study focuses on Ohio companies with an Employee Stock Ownership Plans (ESOPs) - the most common form of employee ownership in the U.S. Literature on the positive impacts of employee ownership at the individual and company level has grown in recent decades finding that individual employee-owners have longer tenure, more household wealth, higher wages, larger retirement accounts, and opportunities to participate in company decisions. At the company level research finds that employee-owned companies perform better than conventional companies on several performance metrics including overall survival rates, productivity, employment growth, and sales. Findings from both individual and company level studies …

Federal Assistance To Youngstown: Evidence From The Paycheck Protection Program, Iryna Demko, Georgina Guadalupe Figueroa,

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This presentation examines trends in federal assistance to Youngstown businesses through the Paycheck Protection Program (PPP) in 2020 and 2021. During this time, the Youngstown region received 13,061 PPP loans totaling $1 billion, reaching at least one small business in every Youngstown’s zip code. Most approved loans covered employees’ wages, helping to keep 130,170 workers on payroll during the Covid-19 pandemic. In 2021, PPP loans reached smaller businesses, with an average of 5 employees per business, compared to 17 employees in 2020.

An Empirical Review Of The Paycheck Protection Program - Congressional Testimony, Iryna Demko

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Dr. Iryna Demko, Research Associate at the Center for Economic Development, testified at the hearing of the U.S. House Committee on Small Business on the Paycheck Protection Program. The Paycheck Protection Program (PPP) has been one of the largest economic stimulus programs in U.S. history. In 2020 and 2021, the SBA disbursed over $800 billion in Paycheck Protection Program (PPP) loans to help small businesses keep their employees on payroll during the Covid-19 pandemic.

Moving Cleveland Above The Trend: New Residential Centers, Iryna V. Lendel, Merissa Piazza, Molly Schnoke, Shneur Kushner

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A recent report conducted by the Center for Economic Development examined the structural and policy factors of economic growth in mid-sized metropolitan areas (MSAs). The Center used factor analysis as a data-reduction technique to identify five factors influencing mid-sized regional economies: 1) Innovation and Talent, 2) Entrepreneurship in High-Cost Areas, 3) New Residential Centers, 4) Retirement Destinations, and 5) Polarization. These factors also contribute to changes in regional employment, gross regional product (output), and per capita income. This brief outlines the initial analysis’ primary takeaways related to New Residential Centers and explores how Northeast Ohio can incorporate successful policies and …

Navigating Government Statistics Of Small Businesses For Pandemic Assistance, Iryna Demko, Iryna V. Lendel, Georgina Guadalupe Figueroa

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This brief examines various sources of government statistics to assist in understanding the scope of small businesses, the legal structure of their operations, and their distribution by industry in the Northeast Ohio (NEO) region. Under the current restrictions for business operations due to the COVID-19 pandemic, many entrepreneurs and small businesses need assistance to maintain cash flow and to retain both their employees and customers. Governments at all levels have developed business assistance programs to help small businesses; more recently, some of these programs have revised their rules. To illustrate who might be affected by the changing rules, several sources …

Moving Cleveland Above The Trend: Innovation & Talent, Iryna V. Lendel, Merissa Piazza, Molly Schnoke, Nora Walsh

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A recent report conducted by the Center for Economic Development includes a model for understanding and predicting economic growth in U.S. mid-sized regional economies to analyze structural and policy-based factors among similar regions. The Center used factor analysis as a data-reduction technique to identify the influences in mid-sized regional economies. This statistical analysis found five factors influencing the mid-sized regional economies reviewed for this report. They are 1) Innovation and Talent, 2) Entrepreneurship in High-Cost Areas, 3) New Residential Centers, 4) Retirement Destinations, and 5) Polarization. This was followed by an analysis to determine the relationship between these factors and …

Moving Cleveland Above The Trend: Entrepreneurship Policy, Iryna V. Lendel, Merissa Piazza, Molly Schnoke, Shneur Kushner

All Maxine Goodman Levin School of Urban Affairs Publications

A recent report conducted by the Center for Economic Development discussed the structural and policy factors of economic growth in mid-sized U.S. economies and included an analysis of similar regions. The Center used factor analysis as a data-reduction technique and identified five factors influencing mid-sized regional economies: 1) Innovation and Talent, 2) Entrepreneurship in High-Cost Areas, 3) New Residential Centers, 4) Retirement Destinations, and 5) Polarization. An analysis determined the relationship between these factors and the changes in regional employment, gross regional product (output), and per capita income. This brief outlines the initial analysis primary takeaways as it relates to …

Examining Inclusive Growth: Minority-Owned Firms In The Cleveland-Elyria Msa Brief, Iryna Lendel

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This report provides insight on minority business ownership in the 5-county Cleveland-Elyria Metropolitan Statistical Area (Cleveland MSA) using data from the 2007 and 2012 U.S. Census Bureau Survey of Business Owners. Minority-owned businesses in the Cleveland MSA represented 20% of all firms in 2012. The majority of these firms, 71%, were owned by African American entrepreneurs (24,618), while 14% (4,959 firms) were Asian-owned. Overall, Asian firms have higher combined sales than African American firms ($1.9 billion versus $972 million); resulting in higher sales per firm. Targeted public policies assisting in revenue generation in the African American business community can increase …

2019 Cuyahoga County Economic Development Plan: Indicators And Projections Brief, Iryna Lendel, Iryna Demko, Matthew B. Ellerbrock

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No abstract provided.

Center For Economic Development Welcomes The White House Opportunity And Revitalization Council And U.S. Eda, Iryna Lendel, Merissa Piazza, Matthew B. Ellerbrock

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No abstract provided.

Disruptive Growth Through Co-Working Industry: Economic Impact Of Potential Real Estate Market Intervention In Cleveland, Iryna Lendel, Merissa Piazza, Iryna Demko, Nick Zingale

All Maxine Goodman Levin School of Urban Affairs Publications

This report reviews the current state of the co-working industry and its potential for growth according to current supply-demand relationships as it relates to larger economic movements and to the regional market for Cleveland, Ohio, and the surrounding area. The report analyzes factors that influence co-working growth and uptake and projects the likely state of the industry in coming years. The report provides a comprehensive assessment of the nature and scope of co-working supply and demand and develops a typology that can identify benefits and approaches for distinct types of co-workers and co-working stakeholders.

2017 Economic Impact Of Companies Funded And/Or Assisted By The Northeast Ohio Entrepreneurial Service Provider Program, Candi Clouse, Ira Demko, Nicholas C. Zingale

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The 2018 report on the economic impact of companies funded and/or assisted by the Northeast Ohio Entrepreneurial Services Provider Program (ESP) shows findings and evidence of the growth of the supported firms over time. These companies not only have a significant workforce and expenditures, they also have a total of 2,313 issued patents and 6,777 patents pending. In 2017 alone, there were 891 issued patents and 920 patents pending.

The ESP is a collaborative entrepreneurial support network funded in part by Ohio Third Frontier that includes accelerators, incubators, angel funds, and other organizations dedicated to commercializing technologies and fostering promising …

2016 Economic Impact Of Companies Funded And/Or Assisted By The Northeast Ohio Entrepreneurial Service Provider Program, Candi Clouse

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This report measures the economic impact of early-stage companies that were supported in the past by JumpStart Inc. and its partners in the Northeast Ohio Entrepreneurial Service Provider Program (ESP) in 2016. The ESP is a collaborative entrepreneurial support network funded in part by Ohio Third Frontier that includes accelerators, incubators, angel funds, and other organizations dedicated to commercializing technologies and fostering promising entrepreneurial ventures in Northeast Ohio. The companies included in this report have received significant technical assistance and/or direct investment funding from entrepreneurial support organizations in the ESP.

Measuring Entrepreneurial Ecosystems, Caroline Taich, Merissa Piazza, Kara Carter, Alexa Wilcox

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Examining entrepreneurial ecosystem measurement is an interesting and important research activity for several reasons. First, there is a significant amount of taxpayer investment in play through public financing of small businesses and early stage companies. Second, practitioners and funders are currently seeking ways to expand entrepreneurial activity in order to increase regional prosperity.

The goal of this research study is to quantitatively and qualitatively explore the indicators of entrepreneurial ecosystems. This study, with support from the Ewing Marion Kauffman Foundation, focuses on two major questions: 1) what are the indicators of an entrepreneurial ecosystem, and which of these best reflect …

Practitioner Guidebook: Measuring Entrepreneurial Ecosystems, Merissa Piazza

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This study, with support from the Ewing Marion Kauffman Foundation, focuses on two major empirical questions: 1) Does the theoretical model established by Stangler and Bell-Masterson (2015) quantitatively hold for regions? Meaning, when the theoretical model is empirically evaluated, will the same data groupings emerge? and 2) What are the key indicators which entrepreneurs and the economic literature view as essential for entrepreneurial ecosystem vibrancy?

High-Growth Firms: Delineating Definitions, Industries, And Business Cycle Performance, Merissa Piazza, Ziona Austrian, Iryna Lendel, Serena Alexander, Ellen Cyran, Deborah D. Hoover, Ray Leach

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There are strong reasons to believe that public policy affects the prevalence and success of entrepreneurial firms, and there is consensus in the literature that high-growth firms (HGFs), a specific subset of entrepreneurial firms that have a propensity to be employment generators in the economy, contribute significantly to employment growth (see, for example, Acs & Mueller, 2008; Acs, Parsons, & Tracy, 2008; Birch & Medoff, 1994; Choi, Robertson, & Rupasingha, 2013, Clayton, Sadeghi, Spletzer, & Talan, 2013; Kirchhoff, 1994; Mason & Brown, 2013; Stangler, 2010; Thurik, 2009). Moreover, authors have called for policy makers to provide HGFs with the resources …

2015 Economic Impact Of Companies Funded And/Or Assisted By The Northeast Ohio Entrepreneurial Signature Program, Candi Clouse, Kenneth Kalynchuk

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This report measures the economic impact of early-stage companies that have been supported by JumpStart Inc. and its partners in the Northeast Ohio Entrepreneurial Signature Program (ESP) in 2015. Companies included in this report have received significant technical assistance and direct investment funding or purely technical assistance from entrepreneurial support organizations in the ESP. It is important to note that North Coast Angel Fund invests in companies throughout Ohio and the economic outcomes generated by these firms are included in the statewide economic impact reported here; while the remainder of the ESP’s entrepreneurial acceleration activities are mostly located in the …

The Forward Cities Cleveland Experience: Overview And Analysis, Ziona Austrian, Merissa Piazza, Sydney Martis

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The city of Cleveland is part of Forward Cities, a four-city initiative focused on inclusive innovation and entrepreneurship. Forward Cities is a national learning collaborative, and its two-year pilot project includes the cities of Cleveland, Detroit, Durham, and New Orleans.

Forward Cities gives participating cities an opportunity to:

• Explore issues of inclusive innovation (so that the city/region’s current entrepreneurial boom does not leave the most vulnerable behind);
• Identify the most effective ways for supporting and developing leaders, entrepreneurs and businesses, in low income neighborhoods; and
• Discuss strategies to build innovative leadership and an entrepreneurial workforce, especially in traditionally disconnected communities …

2014 Economic Impact Of Companies Funded And/Or Assisted By The Northeast Ohio Entrepreneurial Signature Program, Candi Clouse, Ziona Austrian

All Maxine Goodman Levin School of Urban Affairs Publications

This report measures the economic impact of early-stage companies that have been supported by JumpStart Inc. and its partners in the Northeast Ohio Entrepreneurial Signature Program (ESP) in 2014. Companies included in this report have received significant technical assistance and direct investment funding from entrepreneurial support organizations in the ESP or purely technical assistance. It is important to note that North Coast Angel Fund invests in companies throughout Ohio and the economic outcomes generated by these firms are included in the statewide economic impact reported here; while the remainder of the ESP’s entrepreneurial acceleration activities are confined geographically to the …

2013 Economic Impact Of Companies Funded And/Or Assisted By The Northeast Ohio Entrepreneurial Signature Program, Candi Clouse, Ziona Austrian

All Maxine Goodman Levin School of Urban Affairs Publications

This report measures the economic impact of early-stage companies that have been supported by JumpStart Inc. and its partners in the Northeast Ohio Entrepreneurial Signature Program (ESP).¹ Companies included in this report have received significant technical assistance and/or direct investment funding from entrepreneurial support organizations in the ESP. It is important to note that North Coast Angel Fund invests in companies throughout Ohio and the economic outcomes generated by these firms are included in the statewide economic impact reported here; while the remainder of the ESP’s entrepreneurial acceleration activities are confined geographically to the 21 counties of Northeast Ohio. …

2012 Economic Impact Of Jumpstart Inc. Portfolio And Client Companies, Candice Clouse, Ziona Austrian

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No abstract provided.

Central Georgia Regional Analysis: Demographics, Economy, Entrepreneurship And Innovation, Merissa Piazza, Joe Andre, Elorm M. Tsegah, Eunkyu Lee, Ziona Austrian

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No abstract provided.

2011 Economic Impact Of Jumpstart Inc. Portfolio And Client Companies, Ziona Austrian, Candice Clouse

All Maxine Goodman Levin School of Urban Affairs Publications

No abstract provided.

Minority Participation In Technology Based Growth Industries In Northeast Ohio, Merissa Piazza, Elorm Tsegah, Ziona Austrian, Ellen Cyran

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No abstract provided.

Detroit Regional Analysis: Demographics, Economy, Entrepreneurship And Innovation, Merissa Piazza, Joan Chase, Chang-Shik Song, Elorm Tsegah, Ziona Austrian

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No abstract provided.

Akron Regional Analysis: Demographics, Economy, Entrepreneurship And Innovation, Merissa Piazza, Joan Chase, Chang-Shik Song, Elorm Tsegah, Ziona Austrian

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No abstract provided.

Driving The Economy Home: What Matters Most To Northeast Ohio's Economy (Dashboard Of Economic Indicators 2011), Emily Garr, Ziona Austrian, Merissa Piazza

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This report describes trends which occur between 2007 and 2010, the most recent year for which data are available. The essay distinguishes between those that take place in the “recession period” (from the peak of the economic cycle in 2007 to the start of economic recovery in 2009) and the “recovery period” (from 2009 to 2010).

Economic Impact Of Jumpstart Inc. Portfolio And Client Companies, 2010, Ziona Austrian, Candice Clouse

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2010 economic impact of JumpStart Inc. Portfolio and Client Companies

Upstate New York Entrepreneurial Opportunity Survey Analysis, Ziona Austrian, Merissa Piazza, Eli Auerbach, Sunjoo Park, Joan Chase

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This survey report is associated with "Upstate New York Regional Analysis: Demographics, Economy, entrepreneurship and Innovation"

Upstate New York Regional Analysis: Demographics, Economy, Entrepreneurship And Innovation, Ziona Austrian, Merissa Piazza, Eli Auerbach, Sunjoo Park, Joan Chase

All Maxine Goodman Levin School of Urban Affairs Publications

This report is associated with "Upstate New York Entrepreneurial Opportunity Survey Analysis"