The political and medical industry leader-ship in Cleveland will help open the second half of a $465 million project aimed at making the city a must-see stop for biomedical innovations.
The center, located next to Cleveland’s newly opened convention center in the heart of downtown, will host its first major event in a little over a week.
A VIP ribbon-cutting is planned Tuesday at the medical trade show exhibit hall that will be known as the Global Center for Health Innovation.
The three-day Cleveland Clinic’s 2013 Medical Innovation Summit will introduce the building to more than 1,000 medical experts from across America and more than a dozen countries, The (Cleveland) Plain Dealer reported.
The center’s four floors of showroom space will highlight medical products, devices and technology.
The expo center’s second phase, including 12 additional showrooms, is scheduled for completion in February, and a third phase is scheduled to be completed in late 2014.
“It’s going to change Cleveland’s image,” says Tim Hagan who, as a Cuyahoga County commissioner in 2007, backed the med mart and the tax hike that paid for it.
“Cleveland will be known now and in the future as a hub for medical technology and innovation. We will be at the cutting edge of that.”
Bill Bowen, a professor of public administration and urban studies at Cleveland State University who specializes in predicting economic benefits of local development, says many in the community have set med mart expectations that are too high.
“If you go into the literature looking at the effects of convention centers and many of the public investments we make in stadiums and these other fairly large local projects, it’s almost uniform in showing that the benefits predicted to come into the region are much larger than the benefits that actually flow in,” he said.
The ribbon-cutting will include the elected leaders of the city and county and top officials of Cleveland’s research hospitals and several medical-related companies that have signed to be tenants in the center.
Tenants include Cardinal Health, GE Healthcare, Johnson Controls and Siemens.