In the fall of 2019, the London Stock Exchange Group (LSEG) announced that Cleveland, Ohio, would serve as the home of its ELITE Americas headquarters. ELITE is LSEG’s international business support and capital raising initiative for ambitious, private, small to medium-sized enterprises (SMEs). The Cleveland headquarters will provide mid-market companies across North and South America access to the skills, networks and capital to help them scale up and reach the next stage of growth.
Companies in the ELITE program historically have experienced seven times the growth and created four times more jobs than their industry peers.
LSEG began its partnership with JobsOhio in late 2018 when Ohio became the first U.S. state to host the ELITE program.
ELITE’s program includes structured programming on strategy, innovation, operations, marketing, governance and risk management, talent management and leadership. Companies also receive individualized consulting and business support from some of the world’s top business and investment experts, customized to the needs of each company. ELITE helps companies develop market-ready fundraising processes, from raising funds privately on ELITE’s own funding platform to accessing public markets.
Funded by JobsOhio, ELITE offered its program initially to 10 southeast Ohio entities, which graduated as the first cohort outside of Europe a year later.
For example, following graduation from the ELITE program, one of those southeast Ohio companies, QuickLoadz, announced it would expand and develop its headquarters with a $1.2 million investment. Moreover, the company will add 40 new jobs and grow to 52 employees over the next three years, growing production capacity and sales of its patented truck beds and trailers that automatically load and unload shipping containers.
With these successes and a continued partnership with JobsOhio, ELITE Americas headquarters will open in early 2020 to expand its support of Ohio’s SMEs to drive economic prosperity. Up next, JobsOhio, in partnership with the Youngstown/Warren Regional Chamber and the Stark County Minority Business Association, is funding the ELITE education program for a new group of business leaders to support their growth aspirations, promote global partnerships and facilitate access to international capital.
Upon graduation, these organizations will become part of a global network of more than 1,300 businesses across 36 sectors and 42 countries, and an exclusive global ecosystem of successful business leaders, expert advisors and engaged investors.
“As a G-20 endorsed global business, ELITE could have chosen anywhere in the United States for its Americas headquarters, and it chose Cleveland,” said J.P. Nauseef, JobsOhio president and chief investment officer. “ELITE’s decision to continue its investment in Ohio is a testament to the state’s attractiveness to international organizations as well as the opportunities that JobsOhio and its partners bring to the state through collaboration and ongoing relationships.”