Business booming on the Health Tech Corridor - Cleveland 19 News Cleveland, OH

Business booming on the Health Tech Corridor

(Source: Facebook) (Source: Facebook)
CLEVELAND, OH (WOIO) -

The RTA's HealthLine, built to better connect downtown to University Circle, has been up and running since 2008. The project was designed to lead to business, retail and real estate development along and around the route, and, with 180 health tech and high tech businesses now calling the Health Tech Corridor home, the plan appears to be working. 

The Health Tech Corridor is a collaboration between the city of Cleveland, Midtown Cleveland, Bio-Enterprise and the Cleveland Foundation. According to director Jeff Epstein, its job is to connect business to resources. 

"When you move into the corridor you have access to everything that a business needs to grow and succeed and we try to play a role connecting all the dots there," he said.

Access to capital, connections to hospitals, educational institutions and real estate are all functions of the Health Tech Corridor. Project manager Michael Lalich sees development, research and growth creating an energy that businesses both want and need to succeed.

“I think by being part of an urban environment like this, of innovation, really gives people a lot of opportunity whether through work or their personal life just to feel more involved in the community," he said.

The city of Cleveland has dropped $70 million into development, and the Corridor includes access to the fastest fiber network available. Businesses are working on $600 million of ongoing research and $4 billion has been invested in real estate along the Corridor. Epstein believes this is just the start,

“We're definitely still early in the game," he said. "We've got a lot of momentum going here with all the new development and the businesses that are moving into the area and all the growth. I am excited where we are going.”

Cleveland 19 News, in our ongoing series Cultivating Cleveland, will continue to tell the stories of these innovate companies on the cutting edge of development and research.

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