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Thursday, August 10, 2017

Chain Reaction Announces Which Slavic Village Businesses Will Receive $1 Million Investment

Posted By on Thu, Aug 10, 2017 at 4:59 PM

  • Photo via CLE Chain Reaction/Facebook
Cleveland Chain Reaction recently announced which Slavic Village businesses would benefit from its $1 million investment.

The economic development program, which paired up local investors with Slavic Village businesses, is an offshoot of the LeBron James/Maverick Carter-produced Cleveland Hustles reality show that helped grow businesses like Cleveland Bagel and Fount in Detroit Shoreway.

The businesses receiving this year's investment are:
Lina Wines LLC
Metro Croissants
Midwest Basics
Sides To Go BBQ
Baby Munch
Holmes Mouthwatering Applesauce

“Small business can drive the economy," said Steve Millard, Executive Director of COSE - The Council of Smaller Enterprises, in a statement. "Bringing this investment and these businesses into Slavic Village will continue the momentum there and undoubtedly spur additional economic activity.”

The Chain Reaction partnership, between COSE, Cleveland Neighborhood Progress, GlazenUrban and Fox 8 started with 10 local neighborhoods. Slavic Village was ultimately chosen, and 24 businesses gave pitches on why their companies should be selected. The plans were to select five local businesses, but investors were so impressed they ended up choosing six.

“I knew that this neighborhood was perfect for 'doing good' and 'doing well,'" Alan Glazen, of GlazenUrban, said in a statement. "We’re showcasing how city neighborhoods offer the best opportunities for profit with very low risk. Investors came for this opportunity and will stay for the joy and value of contributing to our city’s growth."

We've previously reported on Chain Reaction's initial announcement, when they chose Slavic Village and also the Top 10 finalists.

Find out more about all of the businesses right here.

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