Photo via CLE Chain Reaction/Facebook
Including individual business' and real estate investments, Slavic Village benefited from a $1 million investment last year.
The Cleveland Chain Reaction program has good news for all businesses in need of investments: there’s an application for that
. It's due tomorrow at 3 p.m.
After a successful year
of empowering six new businesses to thrive in Slavic Village
, with investments totaling more than $600,000, the Cleveland Chain Reaction program is heading to Old Brooklyn for round two. The program is open to pitches from businesses in any industry, ranging from food and retail to unique products and services.
The goal of the economic development project is for five new businesses to open in Old Brooklyn by December, each receiving investments of around $100,000 and advice from local investors. Although the program requires all chosen businesses to relocate to Old Brooklyn, they can come from anywhere.
Inspired by LeBron James' 2016 CNBC reality show, "Cleveland Hustles
," the Cleveland Chain Reaction program educates entrepreneurs and business owners, and creates economic activity and jobs in Cleveland's inner cities.
Cleveland Chain Reaction invites all Cleveland neighborhoods to compete for the program's spotlight each year. This year's winning neighborhood of Old Brooklyn is home to around 35,000 people, the Cleveland Metroparks Zoo, Ohio's biggest community garden and more. Ultimately, the program said no to this year's other finalists: Shaker Square/Larchmere, Midtown and North Shore Collinwood.
See what the program has been up to