THESE LARGE COMPANIES LOCATED IN CLEVELAND

THESE LARGE COMPANIES LOCATED IN CLEVELAND

These large companies located in Cleveland

Cleveland has become a dynamic and growing city. The development of new infrastructure, renovations, and new housing construction are contributing to the city's revitalization. In fact, many large companies are choosing to locate in Cleveland. Why?

these big companies in Cleveland

These big companies that chose Cleveland

It is important to know that in the Cleveland region, 8 companies are ranked in the Fortune 500. We find:

Progressive Insurance (Mayfield Village), revenue: $31.9 billion

Sherwin Williams (Cleveland), revenue: $17.5 billion

Goodyear Tire and Rubber (Akron), revenue: $15.4 billion

Parker-Hannifin (Cleveland), revenue: $14.3 billion

FirstEnergy (Akron), revenue: $11.8 billion

KeyCorp (Cleveland), revenue: $7.39 billion

Mr. Smucker (Orrville), revenue: $7.35 billion

TravelCenters of America (Westlake), revenue: $6.9 billion

And they're not the only ones. Amazon opened two centers in September 2019, investing $1.3 million and creating 1,500 jobs. Topgolf will also soon open its doors, creating an additional 500 jobs.

Cleveland Clinic, ranked the second best hospital in the United States, is the city's largest employer, with 60,000 employees. Other companies located in Cleveland include Lincoln Electric (10,000 employees), Applied Industrial Technologies (6,600 employees), and A. Schulman (4,900 employees).

Our experts at USA Immobilier tell us more about it:

Read also: Cleveland City Hall at the heart of real estate projects

Why do these companies choose Cleveland?

Cleveland is a city on the move. In recent years, significant changes have transformed the city into a dynamic business center. Cleveland has a thriving downtown, a winning sports team, and a culture of excellence. The region is business-friendly. There's infrastructure in place (improved public transportation, roads, etc.) and a pool of skilled labor to get the job done. Indeed, it's not difficult to find young, talented people ready to excel. Cleveland has many nationally recognized schools. Case Western Reserve University, for example, is ranked 40th out of more than 400 universities in the United States.

Moreover, there's a good reason why a company like McDonald's decided to open a new outlet there. Rents and business capital are affordable. The city's revitalization is attracting more and more businesses, providing more and more jobs. New residents are arriving, increasing purchasing power.

Cleveland helps startups

Recently named one of the 50 best cities in the world for entrepreneurs by MBA Central, Cleveland is gaining increasing attention for the amenities and offerings it has to offer to growing startups. Cleveland's existing entrepreneurial scene has been fueled by public and private sector support, as well as a vibrant and active business district.

Companies that invest

JumpStart, an organization that helps entrepreneurs start or grow their businesses, recently announced a partnership with the KeyBank Foundation that will help create more than 4,500 startup and early-stage jobs in Ohio. The KeyBank Foundation has committed $24 million to JumpStart over four years. The partnership, called the KeyBank Business Development and Augmentation Program powered by JumpStart, aims to spur economic growth and workforce development by fostering small business success in communities across Ohio and upstate New York.

Although KeyBank has supported JumpStart for more than a decade, this partnership represents a deeper commitment than ever before. At $24 million, this grant from the KeyBank Foundation is the largest in its history, six times larger than any previous donation.

More specifically, the program is based on a five-pillar initiative:

Accelerate the growth of more than 2,500 small and micro-businesses – the majority of which will be women- or minority-owned businesses

Accelerating the growth of over 2,000 technology companies

Create at least 5,350 jobs

Support participation in the technology economy by meeting business needs or enabling the training of 1,000 people

Connect 800 people to job opportunities

Prepare more than 1,000 high school graduates to enter the job market

New opportunities for startups

Additional opportunities for startups in Cleveland come from Flashstarts Inc., a startup accelerator. To continue fueling downtown Cleveland's economic development and investment in local businesses, Flashstarts created the Cleveland200 fund, a $5 million microfund focused on high-growth startups, combined with a national marketing effort aimed at attracting businesses to the region.

Access to financial opportunities isn't the only advantage attracting businesses to Cleveland. Downtown is home to numerous workspaces, numerous entertainment options, a growing talent pool, and thriving organizations in the technology and healthcare sectors.