Community News & Information
Additional commitments from philanthropy and the private sector deepen Cleveland’s ability to transform contaminated industrial land into sites for jobs, investment, and neighborhood growth for generations to come
CLEVELAND, OH – June 9, 2026 — The Cleveland Foundation, alongside Mayor Justin M. Bibb, civic leaders, and philanthropic and business partners, today announced significant new investments in the Site Readiness for Good Jobs Fund, expanding one of Cleveland’s most ambitious economic development strategies in recent years and reinforcing its long-term mission to transform vacant industrial land into opportunity by by developing job-ready sites that can attract employers offering well-paying work.
The announcement includes:
● The renaming of the Cleveland Foundation’s permanent fund supporting the initiative to the Samuel T. Wellman Site Readiness Fund
● A $10 million contribution from the Wellman family
● A $2 million contribution from KeyBank Foundation
● A $1 million commitment from The Rockefeller Foundation
Originally established in 2023 through a $50 million commitment from the City of Cleveland’s American Rescue Plan Act (ARPA) allocation, the Site Readiness for Good Jobs Fund was created to acquire, remediate, and prepare contaminated industrial properties for future development.
Today’s announcement marks a major scaling of that effort, and underscores growing national and local confidence in Cleveland’s approach to industrial redevelopment, brownfield remediation, and long-term neighborhood investment.
Central to the model is the Cleveland Foundation’s stewardship of the endowed Samuel T. Wellman Site Readiness Fund, designed to grow over time and sustain site cleanup and redevelopment efforts across Cleveland for generations.
With an estimated 3,500-4,000 acres of vacant and environmentally challenged industrial land throughout the city, leaders say the endowed structure creates a lasting civic asset capable of supporting economic transformation far beyond any single project or funding cycle.
“We are proud to steward and grow this permanent fund – a new mechanism that allows this $100 million fund to endure and bring about generational change,” said Lillian Kuri, president and CEO of the Cleveland Foundation. “Our community has created an innovative solution to a challenge that once seemed too large and complex to solve. In addition to the transformative $10 million gift by the Wellman Family to name the fund, what makes this effort remarkable is that it isn’t driven by just a handful of major gifts. It is powered by many individual residents and donors — everyday Clevelanders — who are also contributing to the change they want to see in our community.”
The permanent fund is being renamed in honor of Samuel T. Wellman, the industrial innovator and philanthropist whose contributions helped shape Cleveland’s manufacturing legacy and whose philanthropy made him one of the Cleveland Foundation’s earliest major donors. Leaders said the naming reflects both the city’s industrial heritage and the Fund’s focus on preparing land and infrastructure for Cleveland’s next era of economic growth.
“For too long, communities with deep industrial roots and talented American workers have been left behind by economic transformation,” said Derek Kilmer, Senior Vice President of U.S. Program and Policy at The Rockefeller Foundation. “Cleveland is showing how strategic investment can overcome long-standing barriers to redevelopment, connect people to good jobs, and serve as a model for ensuring historically disinvested communities can share in economic growth.”
“At KeyBank we are inspired by what the Site Readiness Fund means for the future of our hometown, Cleveland. We’re committed to helping our communities thrive, and this $2 million investment helps create opportunities, support long-term growth, and expand what’s possible for more of our neighborhoods,” said Eric Fiala, Chief Corporate Responsibility Officer, KeyBank & CEO, KeyBank Foundation.
“The Wellman family is both honored and pleased to contribute to the Site Readiness Endowment Fund. By naming the fund after Samuel T. Wellman his legacy and desire to leave a lasting impact on Cleveland will become a reality,” said Bob and Mary Lou Wellman. “He would be very pleased that his vision in 1916 is coming to life through the Cleveland Foundation. This gift will be transformative now and for future generations in Cleveland.”
The Fund has already begun demonstrating its impact through projects like the recently announced Midline initiative — a sweeping East Side industrial redevelopment strategy focused on land assembly, environmental remediation, advanced manufacturing, transit connectivity, and neighborhood revitalization. Coverage of the project has described it as one of Cleveland’s most significant economic development bets in years.
Mayor Bibb’s administration initially proposed dedicating ARPA funding to brownfield remediation as a strategy to unlock job creation, attract new industries, and address decades of disinvestment tied to contaminated industrial land. By partnering with the Cleveland Foundation to establish a permanent endowed structure, the initiative created a model designed to leverage additional public, private, and philanthropic investment over time.
“This bold public-private-philanthropic partnership reflects the strong foundation being built through the Site Readiness for Good Jobs Fund and our shared commitment to bringing family-sustaining jobs back to Cleveland,” said Mayor Justin M. Bibb. “By transforming vacant industrial land into sites ready for investment, we are creating new opportunities for businesses, workers, and residents alike. This is the Cleveland ERA in action, laying the groundwork for long-term economic growth and ensuring Cleveland’s industrial revival benefits neighborhoods across our city.”
Business and civic leaders say the Fund’s public-private-philanthropic structure fills a longstanding gap in economic development by reducing the early-stage risks associated with complex industrial site cleanup and land assembly.
“The Site Readiness for Good Jobs Fund addresses one of the greatest challenges facing legacy industrial cities: preparing sites that can compete for good jobs and investment,” said Brad Whitehead, managing director of the site fund. “The establishment of a permanent endowment ensures this work is not a one-time initiative, but a lasting civic asset that can support redevelopment opportunities until we have wiped out the scourge of industrial disinvestment. By combining public, philanthropic, and private sector investment, Cleveland has moved brownfields out of the ‘to hard’ box and is creating a sustainable model that strengthens neighborhoods, attracts employers, and enhances the region's long-term economic competitiveness.”
The Fund’s leaders say the model may also offer lessons for other legacy industrial cities grappling with large concentrations of brownfields and stalled redevelopment opportunities.
Established in 1914, the Cleveland Foundation is the world’s first community foundation – and one of the largest today. Through the generosity of donors, the foundation improves the lives of residents of Cuyahoga, Lake and Geauga counties by building community endowment, addressing needs through grantmaking and providing leadership on vital issues. Our vision is a vibrant Northeast Ohio where no Clevelander is left behind. For more information, visit ClevelandFoundation.org and follow us on Facebook, X and Instagram. Click here to learn about and give to the Samuel T. Wellman Site Readiness Fund.
Tanya Reynolds, Cleveland Foundation
Email: treynolds@clevefdn.org
Phone (mobile): 412-606-5482