39 Reasons to locate to the HTC

Top Reasons to Locate to the HTC

The Health-Tech Ecosystem

  1. Access to Leading Edge Thinking

A meeting with the top academic researcher or leading medical practitioner is a phone call and a few days away in the HTC. With an open-door philosophy and a natural orientation to help others succeed, Cleveland’s culture is supportive and our great minds are accessible.

  1. Community of Innovators

Thrive on the energy and possibility that comes with being part of a growing community of 180 health-tech and high-tech companies and thousands of innovative entrepreneurs, engineers, and makers.

  1. Research

Between its anchor institutions, the HTC sees $450MM in annual research and has 4,000 clinical trials underway.

  1. Success Breeds Success

In a 2014 survey, 88% of HTC businesses consider themselves successful, 91% expect their profitability to grow in the next 12 months, and 87% expect their workforce to increase in the next 12 months.

  1. Innovation Abounds

Cleveland ranked as one of the 10 most innovative cities in US by CNN Money, one of the top 14 startup cities in the US by Popular Mechanics. Entrepreneur Magazine ranks the Greater Cleveland region “hotter” for entrepreneurs than San Francisco, Boston, Seattle and New York.

  1. Global Center for Health Innovation

Cleveland is home to the GCHI, the only facility in the world that displays the future of health and health care. The Global Center for Health Innovation serves health and health care innovation, technology, education and commerce through state-of-the-art spaces, programs and virtual offerings, and attracts health-related conventions and markets to the area.

  1. In-migration of Talented Millennials

Greater Cleveland is 8th in the nation in the percentage of 25- to 34-year olds in the workforce with an advanced degree – ahead of Chicago and Seattle. We added nearly 60,000 people with a college degree over the last 8 years – one third of this increase came in the last year alone.

  1. Vibrant Entrepreneurial Ecosystem

Within the HTC are tremendous resources such as JumpStart, MAGNET, and BioEnterprise, which offer a full range of support services for businesses, including mentoring, financing, capital attraction, technical assistance, manufacturing support, educational opportunities, and networking.

Working Space

  1. Business Accelerators

Cleveland business accelerators Flashstarts, LaunchHouse, LaunchNET & JumpStart are located minutes from the HTC and churn out dozens of great startups each year.

  1. Fiber

At speeds from zero to 100 gigabits and everywhere in between. Learn more about the 100 gig.

  1. Flexible Lease Terms

Many HTC buildings offer month-to-month or six month lease terms – and the coworking space is exclusively month-to-month – giving your business the flexibility it needs as it grows.

  1. Highly Trained Workforce

Cleveland ranks 10th in the nation in the concentration of workers over 25 with an advanced degree, moving up 12 spots in the rankings from 2005—the third largest jump in the nation.

  1. Incubators with Labs

BioEnterpriseGlobal Cardiovascular Innovation Center & Medical Device Solutions offer ready-to-occupy incubator wet and dry lab space at affordable rents with support services from some of the brightest technical and entrepreneurial minds in the country.

  1. Maker Space

Case Western Reserve University’s innovative [think]box facility offers cutting edge maker space to its students and the general public to tinker and creatively invent.  There are also multiple Fab Labs in the area – all open to the public.

  1. Space Options for Businesses of All Sizes

From startups in co-working or incubator space on up to large corporate headquarters and manufacturing, the HTC has space options for businesses of all sizes – and land available to build.

  1. Visibility

Over 64,000 cars of average daily traffic on the three main east-west routes through the HTC, Euclid Avenue, Chester Avenue, and Carnegie Avenue.

  1. Affordable space

Rents in the HTC average $11 – $16 per square foot per year for dedicated office space, and from $100 per month for a shared desk in a coworking environment. Including free parking.

Transportation

  1. Bike Lanes

Dedicated bike lanes along Euclid Avenue span the entire length of the HTC, and many buildings offer showers and secure bike storage.

  1. Free Parking

Most buildings in the HTC offer free parking – no need to feed the meter, circle endlessly in parking garages, or pay a small second mortgage every month for parking.

  1. Highway Access

Cleveland’s Innerbelt links the HTC to Interstates 71, 90 and 77 with convenient access just east of downtown.

  1. Public Transit

The sparkling new Cleveland HealthLine runs through the heart of the HTC, providing easy transit access to University Circle and Downtown. The HealthLine is ranked as the best bus rapid transit system in the nation by the Institute for Transportation and Development Policy.

Financial Support and Incentives

  1. Bridging the Biotech “Valley of Death”

The HTC is home to the University Hospitals Harrington Scholar-Innovator Grant Program, where new discoveries are financed with $100,000 to go from discovery to commercialization.

  1. Manufacturing Capacity

Northeast Ohio has decades of deep experience in advanced manufacturing – we know how to make things here – with particular expertise in automotive, aerospace, controls and electronics, medical devices, polymers, and metal fabrication.

  1. VC Investment

Cleveland health care companies, found that the city finished 3rd in the Midwest in the amount of funding it generated. Minneapolis ($418 million) and Chicago ($217 million) both generated more funding in 2015.

  1. Manufacturing Support

The HTC is home to MAGNET, Northeast Ohio’s premier manufacturing advocacy and support organization. If you’re in the business of making things, MAGNET can connect you to Northeast Ohio’s manufacturing expertise and help you achieve bottom-line efficiencies through increased productivity and process improvement programs.

  1. Financial Incentives

A diverse array of public, nonprofit, and private sector resources are available to health-tech and high-tech businesses in the HTC at every stage of growth.

World-Class Institutions

  1. Academic Institutions

The HTC is home to nearly 50,000 students from world class institutions such as Cleveland State University, Case Western Reserve University, Cuyahoga Community College, and the Cleveland Institute of Art.

  1. Cleveland Clinic

Cleveland Clinic, again, placed among the nation’s best hospitals overall; moving up three spots to earn the No. 2 ranking in U.S. News & World Report’s “2016-17 Best Hospitals.”

  1. Medical Workforce

The Northeast Ohio region employs more than 50,000 students, 75,000 Medical and Technical Personnel, and 1,500 engineering students every year. The HTC is home to four colleges and universities and four hospitals with over 50,000 healthcare professionals and 89,000 students.

  1. University Hospitals

University Hospitals Case Medical Center made US News & World Report’s list as one of the country’s best hospitals with 12 ranked medical specialties and University Hospital’s Rainbow Babies and Children’s Hospital is in the top five of US News & World Report’s Best Children’s Hospitals.

The (216) Way of Life

  1. Culture

The HTC has historic music venues, world class museums, and outdoor festivals and concerts.

  1. Diverse Architecture

Locate your office in a centuries-old mansion, the nation’s first electric car factory, a historically renovated warehouse, an old bank, or a brand-new LEED certified building. The HTC offers authentic, cool spaces at the intersection of innovation and history.

  1. Great Place to Visit

Cleveland is on top destinations of 2015 lists by the New York Times, Los Angeles Times, Travel and Leisure magazine, and Fodor’s.

  1. Closer Than You Think

Cleveland sits within 500 miles of 50 percent of the nation’s population and 60 percent of the country’s Fortune 500 companies.

  1. Great Food

Food trucks every Tuesday. Authentic Thai, Japanese, Chinese, Korean, and Vietnamese food. Homemade soup. Farmers markets. Greasy spoons. Traditional Italian and Eastern European haunts. All in the HTC and within a 5 minute drive.

  1. Tremendous Neighborhoods

The HTC spans portions of seven City of Cleveland neighborhoods, each with a unique personality and offering dynamic retail and housing options.

  1. Real Estate Investment

The Health-Tech Corridor has over $3.9 billion worth of completed real estate projects within the last decade, with another $1.3 billion underway.

  1. Parks and Green Space

Dynamic parks and green space exists throughout the HTC, from the CSU and CWRU campus to Wade Oval in University Circle to the Dunham Tavern, Cleveland’s Central Park.

  1. Low Cost of Living

According to the cost-of-living calculator on the CNN website, housing costs 78 percent less in Cleveland than it does in Manhattan, 68 percent less as compared to San Francisco and 32 percent less as compared to Chicago.