Cleveland's Health Tech Corridor continues to grow with Cleveland Heartlab

CLEVELAND - Big economic news in Northeast Ohio after a fast-growing company signs a 10-year lease in Cleveland's Health Tech Corridor.

Officials said the move is helping to build Cleveland's reputation as a "health care town."

The Cleveland Heartlab signed the lease Wednesday to move into a 27,000 square foot space in the Midtown Tech Park building on Euclid Avenue. This company is just two years old and has grown from eight employees to 80. They hope to double that number in another two years.

Cleveland Heartlab is joining the just booming area of Cleveland called the Health Tech corridor. According to their website, the HTC is a 3-mile, 1600-acre stretch that connects 10 vibrant neighborhoods, including University Circle, Midtown and downtown Cleveland.

Sixty-five health care start-up companies and 45 tech companies call the corridor home.

With one in every six people in Cleveland employed in the health care industry, officials said this is just further proof of the city's future in terms of jobs and growth.

"We've added a lot of jobs, we've grown more than we ever even imagined or hoped for. This is a really important day for us," said Jake Orville, of Cleveland Heartlab.

"The companies in this sector of this region, not just the corridor but the region, employ well over 20,000 people and are looking to hire today," said Baiju Shah of CIO Enterprise.

Shah said if you add up all the square footage of the companies that set up there it would fill the Terminal Tower. So basically, developers created a horizontal skyscraper.