GRANT DESCRIPTION

Knight Foundation provided $6.6 million in grants to the Fund for Our Economic Future, an effort by more than 100 philanthropic organizations to transform Northeast Ohio (Canton, Cleveland, Youngstown, Akron) into a 21st century knowledge economy. The article reviews the work of the Fund and its efforts to create a cohesive, regional collaboration.

Approach: The reporter analysis involved interviews with grantees of the Fund for Our Economic Future, local foundation representatives, community leaders and Knight Foundation staff.

Report Partners: The report was produced by John Dorshner for Knight Foundation.

ANALYSIS HIGHLIGHTS

• In its first three years, the Fund raised $25 million and gave out $24 million. In its second three-year phase, starting in February 2007, it has raised another $28 million that it plans to spend through early 2010. About $5.3 million of that has been spent.

• The biggest challenge has been maintaining regional cohesion, particularly with groups outside of Cleveland and others who feel they are on the outside.

• The key successes have been Fund grantees JumpStart and BioEnterprise, which are helping dozens of start-up high-tech and biomedical businesses. Those efforts have generated or supported about 900 high-tech jobs in the region so far.

• Efforts to attract outside businesses to the area, the role of Fund grantee Team NEO, have been less successful.