P.O. Box 5190
Kent, OH 44242
NEOTEC is ready to help your business succeed in Northeast Ohio!
We are a regional multicounty economic development partnership established by the Northeast Ohio Joint Office of Economic Development (JOED) in 1996. NEOTEC is dedicated to enhancing the global competitiveness of Northeast Ohio and its businesses. We work to attract new business investment and jobs to the region by promoting domestic and international trade and strengthening the region's distinct advantages as a business location.
LATEST NEWS FROM NEOTEC ...........................................
REGISTER NOW! NAFTA Customs & Border Compliance Seminar - May 22 - Hosted by ITAC and NEOTEC. CLICK HERE TO REGISTER.
Exports in U.S. Foreign-Trade Zones Increase 56% in 2011, Reaching Record High
Here's a clear sign that the FTZ program is making a strong contribution to America's economic recovery: In its 73rd Annual Report to Congress on January 2, 2013, the U.S. Foreign-Trade Zones Board reported significant growth in all areas of FTZ activity during 2011, including a 56% increase in exports from the previous year. This growth in U.S. foreign-trade zones exports significantly outpaced the nation’s 18 percent total export growth over the same time period, and translated into a record-high $54.3 billion in exports in the zones nationwide. In Northeast Ohio, Foreign-Trade Zone 181 saw a nearly 6% increase in total merchandise shipped in 2011 from Fiscal Year 2010. (CLICK HERE FOR MORE INFO)
Port of Cleveland and NEOTEC establish new Foreign-Trade Zone site: New distribution center bringing jobs to the Village of Glenwillow
Ryder Supply Chain Solutions will be operating a new distribution center in Glenwillow now that the Port of Cleveland and NEOTEC have secured federal activation of a new FTZ site in the village located adjacent to Solon in Cuyahoga County. The new site consists of 83,000 square feet of distribution space for Ryder, which is providing dedicated warehouse services for a customer's export operation. "The Port's FTZ program can help companies reduce their trade costs and be more competitive in the global marketplace," said Port President and CEO Will Friedman. (CLICK HERE FOR MORE INFORMATION)
Ohio launches grant program to find new uses for abandoned sites
The Ohio Vacant Facilities Fund, enacted in HB 18 in early 2012 and recently launched by the Ohio Development Services Agency, will provide grants to assist businesses in creating new jobs in vacant and underutilized commercial buildings and business parks. The program seeks to encourage companies to locate in vacant commercial facilities, reusing existing buildings and infrastructure.