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An economic impact study from The Center for Economic Development at Cleveland State University’s Levin College of Urban Affairs shows that young, high-potential companies receiving capital and/or technical assistance from Greater Cleveland entrepreneurial support organizations are generating impact in Ohio. Last year, 245 startups supported by Northeast Ohio seed funds, accelerators, incubators, or mentoring, recruitment and education programs collectively generated $424 million in economic benefits for the state. The growth and activity of these entrepreneurial companies and their suppliers resulted in $16 million in state and local taxes, a $142 million increase in household earnings and a total employment impact of 2,383 jobs.
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Originally published May 21, 2014.