With the fourth-highest concentration of headquarters employment among the largest metros in the US, Northeast Ohio draws strength from the ongoing commitment of corporations – many of them Fortune 1000 companies – to establish and expand their presence here. Employment in the region’s headquarters and professional services sector has grown 18% – representing nearly 21,000 new jobs – from 2000 to 2015, and continues to trend upward.
The steady growth of employment in corporate headquarters and professional services organizations across Northeast Ohio is a testament to the confidence corporations have in the region’s resources and business climate. The low cost of doing business, robust workforce, world-class education institutions, exceptional logistics and communications infrastructure, and outstanding quality of life make Northeast Ohio an ideal location for corporate headquarters and the professional services companies that support them.
Headquarters and Professional Services at a Glance:
- From 2000 – 2015, employment in the headquarters and professional services sector grew 18%, creating nearly 21,000 jobs.
- Today, the headquarters and professional services sector employs 137,000 workers in Northeast Ohio.
- GRP in headquarters and professional services grew 40% from 2000 – 2015 compared to 30% growth across the country.
- In 2015, this sector accounted for more than $19 billion of the Northeast Ohio economy.
- Employment in this sector is projected to grow 10%, or 12,000 jobs, by 2025.
With such a strong presence of headquarters and professional services companies, Northeast Ohio is among one of the most elite locations in the nation in this area. Home to global brands such as Progressive Insurance, Goodyear Tire & Rubber Co., Parker Hannifin, and many, many more, Northeast Ohio is fortunate to boast such an extensive list of prominent corporations.
Source: Team NEO QER, August 2015