This Op-Ed was written by Summit County Executive Ilene Shapiro, Akron Mayor Shammas Malik, GAR Foundation President Christine Amer Mayer and Greater Akron Chamber President/CEO Steve Millard. Read the Elevate Greater Akron Op-Ed on the Akron Beacon Journal website.
The world is changing.
In our region, we are creating an economic landscape focused on advanced manufacturing, intentional inclusivity and prioritizing what works. Together, we are making unprecedented investments to not only respond to but also prosper in this changing world.
In 2018, the Greater Akron Chamber, GAR Foundation, city of Akron, and Summit County came together to create a collaborative approach to economic development called Elevate Greater Akron (Elevate).
Today, Elevate includes over a dozen partners. We continue to advance shared priorities, which have since been updated, to build on our successes while sharpening our focus for 2025 and beyond.
Those priorities include:
1. Capturing growth opportunities as the global sustainable polymer capital.
In 2021, Elevate believed that the region’s history and strength in rubber, plastics and advanced materials could point to new opportunities. We launched the Polymer Industry Cluster and now have over 70 companies, organizations and universities — including University of Akron, one of the nation’s top schools for polymers — collaborating to address shared industry challenges like sustainability.
It is working. The cluster has received a federal Tech Hub designation, a state Innovation Hub designation and an investment of over $100 million in public and private funding. The polymer industry has the potential to add more than $2 billion in gross regional product within a decade and lead to opportunities to make more things here, create jobs for more people at every level of manufacturing, start companies, and attract investment and jobs.
2. Prioritizing inclusive economic growth.
Inclusive economic growth means shared prosperity for all residents. Opportunity Akron is Elevate’s effort to help the region keep this promise of prosperity.
Since 2019, Elevate has conducted 1,376 visits (and counting) with existing businesses, 38% of which are minority- or woman-owned businesses, to understand challenges and provide support. Akron Urban League’s Minority Business Assistance Center has helped minority-, woman- and veteran-owned businesses create 322 jobs, secure $900,000 in capital and generate $3.9 million in revenue. The Minority Contractor Capital Access Program, led by Western Reserve Community Fund in collaboration with Akron Urban League, generated over 424 new contracts totaling $8.8 million in revenue for Black contractors.
These Elevate partners demonstrate that prioritizing under-resourced businesses has and will continue to equal growth.
3. Building a thriving, connected downtown.
Downtown Akron is poised for reinvention. Attracting residents, businesses, students, visitors and overall investment into a dense city center drives vibrancy and the regional economy and benefits all of Greater Akron.
More than $176 million in private investment has been made downtown since 2018; downtown residents have increased by more than 20% from 2019 to 2022; a new Downtown Akron Development Corp. has formed and is being charged with working alongside Downtown Akron Partnership to advance real estate development; and a renovated Lock 3 Park connected to our world-class Towpath Trail will soon open.
We will build off this momentum because we understand a strong downtown means a strong region.
4. Excelling in the “new fundamentals.”
Our region has incredible assets that can work well together. This was evident when Elevate moved quickly to deploy $14.3 million in COVID relief grants to over 3,200 small businesses across Summit County.
Beyond coordinating in crisis, we need to work well every day to provide high-quality, consistent, and multi-partner support to ensure the success of companies that already call this region home.
This is why Elevate built the Greater Akron Business Navigator to connect local businesses with over 200 resources. It’s why, every week, Elevate partners come together to proactively coordinate and solve problems for our region’s employers. It’s why Elevate’s Spark team of entrepreneur support organizations work together to meet the unique needs of small businesses.
We will stay focused on these “new fundamentals” to create a growth-oriented community where it is easy to do business.
Some communities will fare better than others in this changing world. As Bruce Katz said in Governing magazine, “(T)he winning metros are organizing themselves to coordinate an eclectic mix of public, private and civic institutions.”
Those who are intentional about working together — like Elevate Greater Akron — will come out on top.