The money comes from the Fund For Our Economic Future, the collaboration of foundations aiming to improve the region's economic climate.
The larger grant - $1.7 million - allows acceleration of some `commercial' activities that promote advanced energy. The money will be distributed by NorTech, the Cleveland-based non-profit specializing in technology-driven development.
NorTech President Rebecca Bagley says Northeast Ohio needs to rekindle its efforts to become a technology center and deliver a message to other regions.
REBECCA BAGLEY:
"the competition nationally for who's going to be the cluster leader in this area is happening now - and if we don't accelerate this activity; instead of just plodding along through it, we're not going to be the leader."
Bagley says job creation will be a large part of luring hi-tech firms and ideas here, and that the grant will allow the addition of about 200 new positions over the next 30 months. The Cleveland Foundation will loan one of its executives to assist in the effort.
The second grant is a half million dollar award for development of the Regional Talent Network, an employer-led effort to stop the flight of technological professionals from Northeast Ohio.
