New York wants to beat Cleveland to the punch by building something similar to our Medical Mart.

So is Cleveland in trouble?

County Commissioner Peter Lawson Jones said, "No! The Medical Mart will happen here."

The Cuyahoga County commissioners are confident Cleveland's Medical Mart will be up and running years before any New York project for one basic reason.

"We have the funding in place here and that's what's going to make the difference," Jones said.

County Commissioner Tim Hagan added, "We all believe very strongly -- this is a turning point in the defining moment of this community."

Forty-two million dollars is being raised right now and every year for 20 years from the county sales tax to build the Medical Mart. Clevelanders are working with Chicago's Merchandise Mart executives who will manage Cleveland's Medical Mart.

NewsChannel5’s Ted Henry asked, "Who is going to pay for the Medical Mart?"

Mark Falanga, senior vice president of the Merchandise Mart, said, "Our objective is to work within the money that's currently being raised by the sales tax."

The Cleveland Medical Mart is intended to be a much smaller version of the Chicago Merchandise Mart. The Mart in Chicago stages 16 major tradeshows a year and attracts more than 3 million visitors annually.

But Cleveland's Medical Mart will be similar to the medical equipment, furnishings and implements on display in Chicago. The draw to Cleveland will be for outsiders to see products on display from all over the world plus to attend national medical conventions, meetings and exhibits -- something long envisioned by the Cleveland Clinic's CEO Dr. Toby Cosgrove.

"What do you personally make of the Medical Mart idea for Cleveland?" Henry asked.

"I think it's a great idea. I think it's the chance of a lifetime," Cosgrove said.

Henry asked, "You think it can be a catalyst to draw people to Cleveland, not just from America but from the world?"

"Absolutely, I do," Cosgrove answered. "I mean people go all over the place to go to shows to look at X-ray equipment, or to look at shows, to look at cardiac surgical equipment. If it was all in one place, it could be huge."

Cosgrove also said that the Cleveland Clinic will be supporting the Medical Mart project any way it can. Both the Mart and all of Cleveland's hospitals and university research projects can help build a new identity for the city.

"How important is this project to you personally?" Henry asked.

"This is about Northeast Ohio and trying to provide jobs and economic stimulus for Northeast Ohio and we're deeply committed to Northeast Ohio," Cosgrove explained.

Critics of the Medical Mart say too much tax money is being used for a project that might not pan out, but most civic leaders disagree and say it's time for Cleveland to make bold moves to redefine itself.