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Goodyear Joins Companies Backing Akron Community Revitalization Loan Fund

5/9/2017
Crain's Cleveland Business

The Goodyear Tire & Rubber Co. is joining other local supporters of an Akron revitalization fund.  The Akron-based tire maker announced on Monday, May 8, that it is donating $100,000 to the Akron Community Revitalization Loan Fund, which will provide financing for business development projects in distressed and urban areas of Akron.
 
With Goodyear's contribution, the fund has raised $2.9 million and steps closer to its $4.5 million goal, according to a news release.  The fund is part of the Development Fund of the Western Reserve (DFWR), which is affiliated with the Development Finance Authority of Summit County and has contracted Cleveland-based Village Capital Corp. to underwrite potential revitalization projects, the DFWR release said.
 
Goodyear's donation is among several during the past month or so: The Huntington-Akron Foundation contributed $250,000, and Akron Children's Hospital and FirstEnergy Corp. each donated $100,000. Plus, the DFWR announced $70,000 in donations from several local community members. Akron Children's and FirstEnergy also issued a challenge to the Akron community and other businesses to donate.

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