Northeast Ohio Manufacturing Recovering from Great Recession When recession struck the United States in 2007, manufacturing employment, output and productivity began declining across the nation, including in Northeast Ohio, a region built on a rich history of manufacturing. But today, with the recession nearly nine years behind us, Northeast Ohio…
Northeast Ohio’s Growing Economy Diversifies Northeast Ohio’s output, or Gross Regional Product (GRP), grew 48 percent from 1990 to 2017, and is projected to grow another 14 percent in the next decade as highlighted in Team NEO’s latest Quarterly Economic Review. The report identifies areas of strength within Northeast Ohio’s…
Northeast Ohio’s Food and Manufacturing Employment Growth Outpaces the Nation Food and beverage manufacturing employment grew 21 percent in Northeast Ohio from 2007 to 2016, compared to 5 percent nationwide, reports the quarterly Cleveland Plus Economic Review. This growth is expected to continue over the next decade, with projections of 14…
The biomedical industry in Cleveland Plus is vibrant and growing, as illustrated in the latest Quarterly Economic Review. The region’s biomedical sector represents a $5.6B industry with 700 companies and has grown 59% from 2000 to 2016. Download our latest report to learn more.
This quarter’s report looks at manufacturing’s role in Northeast Ohio’s economy as the region transitions from traditional manufacturing sectors to advanced manufacturing sectors.
For additional insights from MAGNET, the Manufacturing Advocacy and Growth Network, about NEO’s manufacturing industry, click here.
This quarter’s Cleveland Plus Economic Review takes an in-depth look at the cost of doing business in the 18-county Northeast Ohio region.
Northeast Ohio’s export activity approached $29 billion in 2014, a 16% increase since 2006 and 40% since pre-recession levels in 2009, reports the quarterly Cleveland Plus Economic Review released today by Team NEO.
Northeast Ohio’s rich heritage in manufacturing and rapid growth in the biomedical industry are giving rise to a growing number of job opportunities, benefiting residents, businesses and the region’s economy. Across all segments, the region expects to add nearly 123,000 jobs over the next decade. This represents a 6% increase in total employment, bringing the total workforce to 2.041 million people.
Since 2000, Northeast Ohio’s gross regional product (GRP) for headquarters and professional services grew 40% and is predicted to grow another 16% in the coming decade.
From 1990 to 2015, Northeast Ohio’s gross regional product (GRP) for manufacturing grew 17%. Projections say it will grow another 25% over the next decade, to become a $53.3 billion sector of the economy.