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Fund for Our Economic Future Approves $350,000 Grant for Team NEO

By Jay Miller, Crain's Cleveland Business

The Fund for our Economic Future is continuing its support of one of the region’s leading economic development and business attraction organizations.

The nonprofit collaboration of Northeast Ohio philanthropic organizations on Thursday, Sept. 3, approved a six-month, $350,000 grant to Team NEO, which has been undergoing a nearly year-long transformation.

Last November, the boards of Team NEO and NorTech, a nonprofit that sought to accelerate innovation in high-tech industries, agreed to merge. That union came at the behest of an ad hoc group of business and philanthropic leaders that developed something called the Regional Economic Competitiveness Strategy, or RECS. The strategy saw a need in the region to do a better job of attracting new businesses and helping existing businesses compete and expand. Another goal is building a better educated workforce that can compete for the skilled jobs of the 21st century.

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