COMMISSIONER S Jimmy Dimora Timothy F. Hagan Peter Lawson Jones Cuyahoga County Department of Development Investing in the Future Presentation to NASA Networking Event April 25, 2007

Economic Developmen t Loans Low interest loans for fixed assets Create one job for every $35,000 loaned Technical Assistance to foster sales growth Working Capital and fixed asset financing Deferred loans for product development New products manufactured in County Economic Development Strategy New Product Developmen t Program Encourage INNOVATION Business Expansion Job Creation and Retention Objectives Programs Activities Strategy Provide financial and technical assistance to leverage private investment and promote Cuyahoga County manufacturing businesses to create jobs and increase tax revenues. Grow Cuyahoga County Fund

New Product Development and Entrepreneurship Program Partnership with MAGNET (formerly CAMP) Loans deferred for 3 years Loan are then amortized at 3.5% interest for 7 years Secured by a Lien on Intellectual Property Only Must commit to manufacture product in Cuyahoga County for a minimum of 7 years Economic Development Strategy

New Product Development and Entrepreneurship Program For Manufacturers and Software Developers Only Three Phases of Product Development Loans between $15,000 to 60,000 up to a max of $115,000 An outside panel of product development experts selects projects Economic Development Strategy

New Product Development and Entrepreneurship Program Helps existing businesses with R & D Costs Many Business Owners have ideas for new products but no time to develop them Do not need to take top people and expensive equipment out of current production cycle to develop new products Visit web sites for program announcements: Economic Development Strategy

New Product Development and Entrepreneurship Program 1st Funding Round was May new product ideas funded to date 69 jobs created or retained 9 new products entered the market $7.6 million leveraged CAMP Staff with County Commissioners present award to MOM Tools, 2005 New Product Development and Entrepreneurship Phase II Loan Fund Winner. Economic Development Strategy

Economic Development Loan Programs Capital Asset Financing Must create or retain jobs 1 job for every $35,000 borrowed Maximum 40% of project Corporate and/or Personal Guarantees required Economic Development Strategy Ferrous Metal Processing created over 50 new jobs when the county provided a low interest loan to help purchase this equipment for their Brooklyn facility

M.A.D.E. in Cuyahoga County Manufacturers Only Maximum $200,000 2% Fixed Interest Rate Capital Asset Financing 5-7 years equipment 15 years buildings (match bank term) Will subordinate Need Appraisals & equipment valuations Economic Development Strategy

Economic Development Loan Capital Asset Financing Maximum $350, % fixed interest rate 5-7 years equipment 15 years buildings (match bank term) Will subordinate Need Appraisals & equipment valuations No restaurants or retail Economic Development Strategy

Grow Cuyahoga County Fund (GCF) $35,000 - $1 million Prime to Prime + 2% Interest Rate Terms up to 25 years Can do up to 90% of project Working Capital, Machinery and Equipment, Acquisition of Land and Buildings, Construction, Renovations and Tenant Improvements are Eligible Can do Restaurants and Retail Economic Development Strategy

COMMISSIONER S Jimmy Dimora Timothy F. Hagan Peter Lawson Jones Cuyahoga County Department of Development COMMISSIONER S Jimmy Dimora Timothy F. Hagan Peter Lawson Jones Contacts: Anthony Thornton Economic Development Manger (216) Jonathan Holoday Brownfield Program Manager (216)

COMMISSIONER S Jimmy Dimora Timothy F. Hagan Peter Lawson Jones Cuyahoga County Department of Development Contacts: Tracey Nichols Assistant Director (216)