In 2016, our job creation grantee partners drove the following outcomes:
- 5,856 jobs (54 percent of our 2016-2018 goal)
- $321 million of payroll (63 percent of our three-year goal)
- $2 billion of capital (130 percent of our three-year goal)
The jobs created continue to be high-paying jobs; the average annual salary per job created by our partners was roughly $58,000, compared with a regional average of just under $50,000.
Since our founding in 2004, our Fund's efforts have helped retain or create more than 24,400 jobs, add nearly $1.1 billion in payroll, and attract just over $6 billion in capital to Northeast Ohio.
In 2017 and beyond, our Fund is focused on better understanding whether the historic jobs, payroll and capital gains of our job creation grantee partners advance Growth & Opportunity, and whether and where to consider strategic shifts. The impetus of this assessment stems from our longstanding commitment to racial and economic inclusion. Historically it's been difficult to accurately and appropriately reflect progress on this commitment, for a variety of reasons. Armed with new information, we now have years of job creation data and a spatial frame through which to analyze results. This is serving as the foundation of a Job Creation Growth & Opportunity Impact Assessment.
Through the Impact Assessment, we will review collective performance and grantee-by-grantee results, and will provide actionable suggestions for ways to more robustly ensure our job creation grantees support both the "Growth" and "Opportunity" elements of our agenda going forward. We are engaging several advisors to help shape this work, including our members, our grantee partners and their clients, community-based leaders, national and regional experts, and others.
We expect to release the assessment in mid-2017. For more information, or for a copy of the assessment when it's released, email Director of Civic Innovation and Insight Peter Truog.