A major threat to Cleveland's proposed Medical Mart is growing in New York, where developers say they are ready to start building a $1 billion World Product Centre.
Some advocates of the Cleveland project, including Cleveland Clinic Chief Executive Toby Cosgrove, say there's no room for both. This region, they worry, may be beaten out on what they see as its most promising economic-revival engine.
"This is one of those things where only one of the facilities can exist," said Baiju Shah, director of BioEnterprise, a University Circle incubator for health-care businesses. "You want this to happen here, to boost Cleveland's image as a leader in medical technology and a good place to do business in that field."
The New York proposal's growth, Cosgrove said, should be "an impetus to get up and get going."
The World Product Centre's backers insist they already are. The project's partners include the Greater New York Hospital Association and Extell Development Co., a major residential real estate development company.
Last month, they revealed architects' renderings for a stunning Manhattan skyscraper. World-renowned Kohn Pederson Fox Architects designed the 60-story high-rise that would combine exhibit space, offices and "incubator" support for buyers and sellers of medical-industry needs. It would surpass, by 30 feet, Cleveland's 947-foot Key Tower as the nation's 17th-tallest skyscraper.