- Share is a Columbus, Ohio company using the Aerozone Alliance space to launch its Northeastern Ohio operations.
SHARE, a mobility company, that partners with organizations like employers, senior communities, schools, healthcare providers, and cities to power a new type of transportation called “microtransit” is using the Aerozone Alliance space to expand into Northeast Ohio. Microtransit is not the bus and it’s not ride-sharing (both are great, but they are not SHARE).
Microtransit is a way to plan, coordinate, and deliver mobility as a service to groups of riders.
People schedule and share rides, it costs organizations less, Share software makes it run, and the service is delivered by safe, professional drivers in reliable, connected vehicles.
- Aerozone Alliance stakeholders reside within the federal government’s opportunity zone.
The Opportunity Zone program is designed to incentivize patient capital investments in low-income communities nationwide. All of the underlying incentives relate to the tax treatment of capital gains, and all are tied to the longevity of an investor’s stake in a qualified Opportunity Fund, providing the most upside to those who hold their investment for 10 years or more. The incentives include:
- A temporary tax deferral for capital gains reinvested in an Opportunity Fund
- A step-up in basis for capital gains reinvested in an Opportunity Fund
- A permanent exclusion from taxable income of capital gains from the sale or exchange of an investment in a qualified opportunity zone fund, if the investment is held for at least 10 years
The Aerozone Alliance is within the territory designated as an Opportunity Zone.
For more information on the Opportunity Zone visit eig.org/opportunityzones
- Partners and stakeholdersset priorities for the Aerozone Alliance.
NOACA is developing the transportation infrastructure and workforce mobility to help the Aerozone district succeed,one of just six regional job hubs identified in NOACA’s five county region.
The City of Brook Park is making the further development of the Aerozone a priority for 2019 by merit of its distinct location, next to NASA and proximity to the Opportunity Zone and the benefits for financial investment packaging for present and future investors. As the Aerozone Alliance organization is located in the City of Brook Park, the City will advertise the zone through collaboration with OAI, the Cuyahoga County Development Dept. and local as well as national Opportunity Zone resources.
Greater Cleveland Partnership is working with the Aerozone Alliance to spur regional economic development by aligning tax benefits to investors, particularly through the Opportunity Zone.
Cuyahoga County Department of Development supports the conditions for an enhanced place-based center of employment and development involving the communities and special assets of the Aerozone Alliance business district including the Opportunity Zone.
Baldwin Wallace University is preparing to graduate students who can work for the Aerozone Alliance businesses and offers workforce development programming to those businesses. The University excels in STEM fields along with Business programs, all grounded in solid critical thinking and communication skills.
The City of Berea views the Aerozone as a way of connecting existing Berea businesses with other businesses within the Aerozone district. The city is also interested in attracting businesses from out of state into the Aerozone, leading to new jobs for Berea residents.
NASA Glenn Research Center seeks to establish regional partnerships with external organizations utilizing GRC’s capabilities to support collaborations leading to regional economic development in business sectors of critical importance to our region. Nasa Glenn offers the following partnership opportunities ensuring that their technologies, facilities, and expertise are broadly available to the public:
- Access to NASA’s growing portfolio of intellectual property
- Access to world-class Subject Matter Experts (SMEs)
- Utilization of unique facilities and test services
- Opportunities for joint research, development, test and evaluation efforts
Zin Technologies is in alignment and support of Ohio aerospace and aviation priorities as they relate to North East Ohio and specifically the Aerozone Alliance.
The City of North Olmsted is working with Cuyahoga County and the Metroparks on a new trail along Mastick Road that would connect the Rocky River Reservation and Puritas Road.