Headquarters and Professional Services in Cleveland Plus
The Cleveland Plus region has the fourth-heaviest concentration of headquarters employment – 38% higher than the national average. Proportionately, the region outpaces much larger markets, including Chicago, Atlanta, New York and Los Angeles.
- Goodyear Tire & Rubber Co. and J.M. Smucker Co. are among the dozens of corporations that have invested in their headquarters here in recent years.
- Headquarters employment in Northeast Ohio has grown nearly 160% from 1990 to 2013 as major corporations embrace the region’s assets. Over the same time span, U.S. headquarters employment has increased only 22%.
- Northeast Ohio headquarters employment is climbing steadily, growing from 19,000 employees in 1990 to nearly 49,000 in 2013. While headquarters employment makes up about 3% of Northeast Ohio employment, it represents more than 6% of all wages in the region.
World-Class Professional Services
These headquarters locations are supported by a world-class professional services cluster of leading financial, legal and insurance firms. Successful businesses need the support of top-tier professional services, such as accounting, legal and marketing. You’ll find that skilled talent and more in Cleveland Plus, home to one of the world’s largest financial sectors and one of the nation’s largest legal communities:
- Seven of the region’s law firms employing 100 or more attorneys – such as Jones Day and Squire Patton Boggs – have five or more offices across the globe.
- Cleveland Plus is home to major banks such as KeyCorp (Cleveland) and is the headquarters of the Fourth Federal Reserve District, one of twelve regional Reserve Banks in the Federal Reserve System.
- With approximately 58,000 workers, Northeast Ohio employs more individuals in the financial services industry than any other Ohio region.
Source: Economy.com, Cleveland State University JobsOhio Report, March 2012
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