LISC issues first loans from Cleveland Housing Investment Fund to two housing projects LISC issued its first two loans to Cleveland housing projects from the CHIF initiative launched in March.

After unveiling the Cleveland Housing Investment Fund in March, national development nonprofit Local Initiatives Support Corporation on Thursday, Oct. 9, announced the first two projects receiving loans.
www.crainscleveland.com/real-estate/...

Diebold Nixdorf names new C-suite executives Joe Myers will become chief revenue officer on Jan. 1, while Elizabeth Radigan takes over Dec. 1 as chief administrative officer.

Diebold Nixdorf, the North Canton-based provider of self-service, software and security products and services for the banking and retail industries, announced a series of executive changes aimed at bolstering global sales and administrative functions.
www.crainscleveland.com/technology/d...

Mission Driven Bank Fund invests in Cincinnati minority depository institution The Mission Driven Bank Fund’s latest investment has been made in Warsaw Federal Savings and Loan, a Cincinnati-based affiliate of Lakewood’s First Mutual Holding Co.

The Mission Driven Bank Fund’s latest investment has been made in Warsaw Federal Savings and Loan, a Cincinnati-based affiliate of Lakewood’s First Mutual Holding Co.
www.crainscleveland.com/banking-fina...

Downtown Cleveland hotel is first in Ohio to receive a Michelin Key A Downtown Cleveland hotel is the first in Ohio to receive a key hotel accolade: a Michelin accreditation. And it did so after less than a year in operation. Fidelity Hotel, located at 1940 East ...

A new Cleveland hotel caught the attention of the Michelin Guide.
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Ohio's largest bank by deposits is based in Minneapolis The largest bank by deposits in Ohio remains U.S. Bank, a Minneapolis-based institution that controls 19.73% of the Ohio marketplace as of June 2025, according to the Federal Deposit Insurance Corp.

The most dominant bank by market share in the Buckeye State continues to be a financial institution that isn’t even headquartered here.
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Ohio House votes to advance a pair of property tax reforms The bills would hand more power to county leaders in sorting out issues with property taxes.

The bills "would give little known county boards greater oversight powers and get into the weeds of Ohio’s byzantine system for classifying taxes and calculating reductions," writes @nckevns.bsky.social of @ohiocapitaljournal.com.
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Federal prosecutors are looking into First Brands collapse The inquiry by Justice Department attorneys is in early stages.

Now the feds want to know more about what happened at First Brands.
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Opinion: Cleveland's saunas are a hot spot for sweatworking In the sauna, not only can you warm up from the cold winter air, but chances are you’ll organically meet people in a more intimate setting.

Traditional networking not your thing? You might want to hit the sauna. An opinion piece from Downtown Cleveland resident Josh Womack.
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3 ways the Polymer Industry Cluster has evolved The Polymer Industry Cluster held its annual Connectivity Conference recently in Akron, and the direction the initiative will follow is beginning to take shape.

The Polymer Industry Cluster has been an organization for several years, but it's just now getting to the point where its vision and potential impact on the Akron and Northeast Ohio region is coming into focus.
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First Brands blindsides Wall Street with bankruptcy, an elusive CEO and off-the-books financing By the time it all came crashing down, the company’s sprawling network of auto-parts factories and distribution centers was on the hook for over $10 billion to some of the biggest firms on Wall Street...

This story keeps getting crazier.
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Park Synagogue secures $20M in bonds from Port of Cleveland It’s a big week for the Cleveland Heights Park Synagogue redevelopment, which has received two streams of funding to help further the project.Just a few days after the City of Cleveland Heights alloca...

Just a few days after the City of Cleveland Heights allocated $1.75 million for the project, the Port of Cleveland approved an additional $20 million in taxable lease revenue bonds.
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KeyBank still dominates Cleveland's deposit market Cleveland’s only locally headquartered regional bank continues to dominate market share in its hometown.

KeyBank’s control of the Cleveland MSA deposit market decreased marginally in the past year, yet its share as of June 2025 stands at a whopping 45.24%, totaling more than $58 billion, according to the latest Federal Deposit Insurance Corp. data.
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Cleveland medtech company secures $4.5M for commercial launch A Cleveland-headquartered biotech company has secured $4.5 million in an oversubscribed financing round.Neuronoff Inc., a clinical-stage medical device company specializing in minimally invasive pain ...

Neuronoff Inc., a clinical-stage medical device company specializing in minimally invasive pain treatments, announced the funding round's closure this week.
www.crainscleveland.com/health-care/...

Cleveland Heights takes big step in push for infill housing The city of Cleveland Heights owns about 170 vacant lots that it has collected since the 2008 housing crisis. And while it has tried to fill these lots en masse in the past, it never worked out to the...

“Having developers do multiple lots at once is going to make a difference,” said Interim Mayor Tony Cuda. “We need to increase homeownership in Cleveland Heights.”
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ICP sells former Delphi Automotive site in Warren The site was fully occupied by Aptiv, a Delphi spinoff, when it was sold in August, but Aptiv appears to have vacated at least part of the property since the sale, said a local nearby business owner.

A 94,000-square-foot industrial facility in Warren, formerly a Delphi automotive plant, recently sold for $9.4 million, real estate firm CBRE announced.
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Ohio cryptocurrency reserve fund measure opens the door to more traditional investments Instead of just investing in Bitcoin, the Ohio Treasurer could put funds in other exchange traded products.

The Ohio House plan to set up a cryptocurrency reserve is turning into something different. One recent amendment expanded the scope of potential investments to include more traditional assets like bonds or exchange traded funds, @nckevns.bsky.social reports.
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DeWine signs executive order temporarily banning intoxicating hemp products As of Tuesday, Oct. 14, all hemp-based THC goods sold in liquor stores, gas stations, and anywhere else will have to be yanked off all retail shelves in Ohio, following the signing of an executive ord...

As of Tuesday, Oct. 14, all hemp-based THC goods sold in liquor stores, gas stations, and anywhere else will have to be yanked off all retail shelves in Ohio, following the signing of an executive order Wednesday by Gov. Mike DeWine.
www.crainscleveland.com/cannabis/mik...

ContiTech prepares for independence with executive changes ContiTech is undergoing significant changes to its leadership team, incorporating IT and purchasing functions as it prepares for independence from Continental A.G.

The new executive management structure for the Fairlawn company is intended to strengthen the industrially focused ContiTech ahead of its planned sale by the group some time next year.
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Ohio's independent music and event venues seek lifeline as few were profitable last year According to new a report from the National Independent Venue Association, it is estimated that a mere 20% of indie music venues, festivals and events businesses in Ohio were profitable in 2024.

Support live music. Because a lot of the venues aren't doing that well.
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J-Rayl sells Akron facilities in sale-leaseback deal The company sold its 8.5-acres and a 20,000-square-foot building for $6 million at the end of September.

The property sold on Sept. 26 for $6 million, which represents a price of $204 per square foot.
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Painesville sets a new standard for revival with $500 million in investments Painesville is undergoing $500 million in new public and private developments, a post-pandemic push to revitalize the downtown area into a new residential and entertainment district.

“The first 10 years I was with Painesville, I tore everything down,” says City Manager Douglas Lewis. “It's nice to start building everything back up. The potential has always been here, but it's getting the first person to see the potential in the city.”
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Food distributor Sirna & Sons Produce to lay off workers at Norwalk operation The layoffs are set to take place in December.

Wholesale food distributor Sirna & Sons Produce of Ravenna plans to lay off 45 workers from its distribution facility in Norwalk.
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Fifth Third’s $11 billion deal sparks hope for bank merger wave The youngest head of a big bank is making his boldest move yet, which could set off a wave of dealmaking in the crowded U.S. finance sector. Cincinnati-based Fifth Third Bancorp., run by 46-year-...

The deal is sparking speculation of a floodgates moment, with industry watchers rushing to identify other potential takeover targets as they called the end of a blockage for large mergers and acquisitions.
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Opinion | The High-Speed First Brands Crash Another debt-laden company goes bust despite frothy markets.

Cleveland-based First Brands’ "high-speed crash comes after subprime auto lender Tricolor Holdings’ bankruptcy a few weeks ago. Both raise questions about the quality of underwriting amid frothy financial markets," @wsj.com says in an editorial.
www.wsj.com/opinion/firs...

These Parents Are Willing to Pay Up to $15,000 to Get Their Kids Into High School Getting into high school—private and public—is more competitive than ever. Parents are paying up.

After COVID, Amy Seeley’s Cleveland test-prep business went “all in on eighth graders” and expanded to Cincinnati, which has a “booming high-school admissions test-prep business.” Via @wsj.com.
www.wsj.com/us-news/educ...

These banks might be next to pair up, says analyst who called the $11 billion Comerica sale Jefferies analyst David Chiaverini highlighted five possible deals that would lead to the highest increases in profit for the players.

Cleveland-based KeyCorp is mentioned in this @marketwatch.com analysis as a possible buyer.
www.marketwatch.com/story/these-...

LeBron James, Hennessy turn a sports flashpoint into a brand moment with ‘Second Decision’ With “The Second Decision,” the cognac brand and NBA star reimagine a controversial TV special as a celebration of culture and modern luxury.

A dumb moment in marketing.
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Park Synagogue, Cleveland Heights council agree to reworked financing deal After initially refusing a proposed $2 million financing package, the Cleveland Heights City Council approved $1.75 million in financial assistance for the ongoing Park Synagogue redevelopment on Oct....

The new deal includes a grant of $750,000 and a waiver of city permitting fees of up to $250,000 to fund trails, walkways, sidewalks, site lighting and landscaping for the Park Synagogue Campus.
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It was shaping up to be a good year for local construction this spring. Then came the tariffs and, with them, a wave of caution.
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Kent State’s ‘fairy godmother’ donates $1 million to theater program Philanthropist Roe Green donates $1 million to support Kent State’s School of Theatre and Dance and Porthouse Theatre over the next decade.

Longtime supporter Roe Green and the Roe Green Foundation have committed $1 million to establish the Roe Green Musical Theatre and Porthouse Artistic Directorship, benefiting Kent State’s School of Theatre and Dance and Porthouse Theatre.
www.crainscleveland.com/education/ro...