Entrepreneurs contribute significantly to the region’s economy. According to a recent Cleveland State University report, 90 technology-based companies created and grown in Northeast Ohio generated approximately $155 million in economic benefits for the 21-county region in 2010. They also created and retained 546 direct jobs paying an average salary of $62,850 and more than 1,000 total jobs in the region.
The companies in the report were supported early in their development by JumpStart and our partners either through significant investment dollars and/or intensive technical assistance. While the businesses participating in the survey represent less than a quarter of JumpStart’s total client and portfolio companies, the fact that this relatively small pool of young companies has created such an impact confirms that the growth of entrepreneurial ventures is important to the economic growth of Northeast Ohio.
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