MAGNET Phase 2

New Markets Tax Credit Coalition

Cleveland,
OH
(2023)

MAGNET Phase 2

Manufacturing

Investment

NMTC Amount: $7,000,000
Total Project Cost: $7,000,000

IMPACT

92 FTE jobs
30 construction jobs
26 jobs created and 66 jobs retained.
12,840 sq. ft. of real estate

CDEs

Urban Research Park CDE

Investor

PNC

Project Description

The rehab and equipping of a vacant building into the Manufacturing Innovation, Technology and Job Center (MITJC) in Cleveland, OH. MITJC advances strategic priorities in the Workforce Development Roadmap by the OH Manufacturers Association Sector Partnership: (1) regional collaboration between manufacturers, education providers, and workforce development partners; and (2) promoting credentials and career pathways.

MAP

Address: 1800 E. 63rd. St, Cleveland, OH 44103

Census Tract: 39035112301

Other Ohio Projects

PUBCO/Kroy

Cleveland,
OH
(2020)

Business Development, Community, Manufacturing, Veterans Services

CDE(s): Chase, National New Markets Fund

Expansion of PUBCO's operations and its manufacturing operations and capacity at its industrial campus in inner-city Cleveland by purchasing and installing new state-of-the-art equipment.

Wilmington College Sports Science Center

Wilmington,
OH
(2014)

Adult Education, College or Vocational Training, Community, Healthcare, Recreation, Rural

CDE(s): Finance Fund

A new, 48,100 sq. ft. complex on the Wilmington College campus is bringing jobs, an athletic training program and medical services to a non-metro Clinton County community.

Kitty Poo Club

Wooster,
OH
(2022)

Business Development, Loan Fund

CDE(s): Advantage Capital

NMTC financing supported a tech company's growth.

Community Treatment and Correctional Center

Canton,
OH
(2017)

Community, Healthcare

CDE(s): IFF

Rehabilitation and expansion of halfway house, expanxing from 56 beds to 75 beds as well as achieve its long-time vision to bring housing and administrative functions under one roof.