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Cleveland: Mayor announces '10,000 Small Businesses' initiative

Wednesday, May 09, 2012   (0 Comments)
Posted by: Kristina Moy
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By Tom Beres, WKYC.com

CLEVELAND -- Tuesday morning, Mayor Frank Jackson announced a partnership between the city, Cuyahoga Community College and Goldman Sachs for a "10,000 Small Businesses" initiative to help Cleveland-area small businesses gain crucial education, business support services and access to capital.

Goldman Sachs and their foundations are committing $15 million to the Cleveland-area initiative.

Gwenay Coniglio co-owns a small construction management firm. She is interested in what the program may have to offer her business.

"There is a need for this type of program. We need education and money to grow our businesses," she said.

Four years ago, Mayor Jackson was suing Goldman Sachs and 20 other banks and investment firms alleging they were to blame for the devastating impact of foreclosures in Cleveland. The city lost that lawsuit.

The mayor said, "I see them separately. That was then. This is now. This is a business practice that is positive for Cleveland."

Cleveland Councilman Anthony Brancatelli represents Slavic Village, an epicenter of foreclosure . Brancatelli welcomed the investment, but said, " I feel like it's guilt money."

Asked about the perception by some that the program is also about refurbishing Goldman Sachs damaged reputation, Dina Habib Powell of the Goldman Sachs Foundation said, " Look at the results. talk to the mayors and other community college presidents to see how it's worked."


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